Breaking: USD surges across the board with EUR/USD erasing 100 pips of gains

Stocks have turned south and the greenback is on the rise once again. more coming  |  11/01/2019 15:00

Stocks have turned south and the greenback is on the rise once again. US bonds are in demand. 

There are reports that Turkish forces are amassing around Idlib, ready to enter areas evacuated by US troops which are retreating from Syria. However, the Turkish Lira is not suffering from heightened volatility. 

It seems like a correction of the Fed-related USD sell-off that we have seen recently. 

EUR/USD fell to a low of 1.1458, down over 100 pips from the peak of 1.1569 it recorded earlier in the week.

GBP/USD is trading below 1.2800. It advanced above this level after reports came out regarding a Brexit delay. USD/JPY emerged from the lows and getting closer to 108.50. 

Commodity currencies are falling with falling oil prices.

Earlier, the US inflation report came out exactly as expected, with Core CPI at 2.2% YoY.

Here is the EUR/USD chart:

The US Dollar was on the back foot after various Fed officials, including Chair Jerome Powell, sent dovish messages. They acknowledged market volatility and concerns about global growth, calling for patience on rates. Moreover, Powell said there is no specific amount of rate hikes. Raphael Bostic of the Atlanta Fed went as far as opening the door for a rate cut. Bullard took yet another step and criticized the rate hike in December.

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on FX
and other asset classes for Market Insight viewers

RISK WARNING

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

  • ForexF
  • IndicesI
  • CommoditiesC
        Back

        Login to Market Insight Account

        Your Market Insight account gives you access to the tools that we offer our customers including our
        Technical Studies & Sentiment for your accounts.

        Forgot Password?

        Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

        Create a Market Insight's Account

        Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

        register_ty

        Thank you!

        Welcome to Market Insight family!

        You have succesfully completed the registration.
        We will send you an e-mail to give you some
        instructions and our Terms and Conditions!
        Our account representatives will be contacting you as
        soon as possible. If you have any further questions
        please do not hesitate to mail us via info@marketinsight.com