EUR-USD
Euro bulls might have to lose their Passion after the rush to buy the single currency may have left it vulnerable in the short term, particularly given the uncertainty about many global central banks’ interest rate plans.
The euro EURUSD hit its highest in 10 months against the dollar earlier this month, having gained 13% from late September’s 20-year low of $0.9528.
The prospect of a milder recession thanks to falling energy prices and plentiful supplies of natural gas, coupled with China finally emerging from three years of harsh COVID restrictions, have ignited investor appetite for European assets generally.
10-02-2023
EURUSD
By Tradingview
The Dollar Index
DXY, which measures the U.S. Dollar currency against 6 major peers, rose 0.155% at 103.34, having dropped 0.24% in the previous session. The index is set to eke out a weekly gain, its second straight positive week and a run it has not had since October.
As we can follow the trend and support levels will find a strong support area by 103.00 if we penetrate this level may reach the next one at 102.30.
The spotlight is firmly on U.S. CPI data next week as investors gauge whether disinflation taking place. The market is more data-dependent after last Friday’s spectacularly U.S. jobs report.
10-02-2023
Dollar Index
Chart by: Tradingview
XTI_USD (OIL)
For a fifth day, Oil Continues the straight rising. Especially after U.S. Federal Reserve Chair Jerome Powell Speech Yesterday and investor concern eased about U.S. interest rate hikes and an industry report pointed to a drop in U.S. crude inventories.
Meanwhile, the less aggressive rate hike than China Opening forecasting to lead the demand side again in the market.
Brent crude rose 293 cents, or 1.2%, to $86.68 a barrel by 09.47 GMT. U.S. West Texas Intermediate (WTI) crude climbed 284 cents, or 2,9%, to $80.23.
10-02-2023
XTI_USD (OIL)
Chart by: Tradingview
Gold (XAU_USD)
In a smooth movement compared to last week, Gold extended Loses to a second session today boosted by a strong dollar and comments from Jerome Powell The Federal Reserve Chair. At the same time, markets awaited more economic data for guidance on future rate hikes.
The robust increase showed the US economy continues to surge despite rising interest rates. It could convince the Federal Reserve to take a more hawkish stance after it raised interest rates by just 25 basis points last Wednesday, the smallest hike since it began tightening rates to slow inflation.
Spot XAUUSD rose by 0.5% to $1,863.16 per ounce by 10.45 GMT. U.S. gold futures added 0.2% to $1,864.20.
10-02-2023
Gold (XAU_USD)
Chart by: Tradingview
Twitter Version
EUR-USD
Euro bulls might have to lose their Passion after the rush to buy the single currency may have left it vulnerable in the short term, particularly given the uncertainty about many global central banks’ interest rate plans.
The Dollar Index
DXY, which measures the U.S. Dollar currency against 6 major peers, rose 0.155% at 103.34, having dropped 0.24% in the previous session. The index is set to eke out a weekly gain, its second straight positive week and a run it has not had since October.
XTI_USD (OIL)
For a fifth day, Oil Continues the straight rising. Especially after U.S. Federal Reserve Chair Jerome Powell Speech Yesterday and investor concern eased about U.S. interest rate hikes and an industry report pointed to a drop in U.S. crude inventories
Gold (XAU_USD)
In a smooth movement compared to last week, Gold extended Loses to a second session today boosted by a strong dollar and comments from Jerome Powell The Federal Reserve Chair.
