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Market News

View the daily news commentary to obtain insight on the financial markets.

US Dollar opens with losses as market anticipates labor market data

March 4, 2024, 4:47:02 PM UTC
The US Dollar Index (DXY) is presently fluctuating in the vicinity of 103.70, exhibiting minor losses on Monday.

Stock Market Today: Main indexes edge lower ahead of key risk events

March 4, 2024, 4:19:33 PM UTC
S&P 500 futures fall 0.12%, Dow Jones futures drop 0.21%, and Nasdaq futures are unchanged.

Good upside potential for commodity currencies – ING

March 4, 2024, 3:59:00 PM UTC
Economists at ING remain positive on commodity currencies. MXN and BRL may well prove resilient despite ongoing rate-cutting cycles In the G10 space, we continue to see good upside potential for commodity currencies, in particular, the undervalued Norwegian Krone, Aussie Dollar and New Zealand Dollar.

XAU/USD tests above $2,100 as markets bet on June Fed rate cut

March 4, 2024, 3:54:59 PM UTC
XAU/USD rose above $2,100.00 on Monday as markets lean into Spot Gold bids.

Euro is likely to appreciate only slightly against the Dollar – Commerzbank

March 4, 2024, 3:37:00 PM UTC
Economists at Commerzbank expect the EUR/USD exchange rate to end the year at 1.1000 Limited upside potential We see limited upside potential for EUR/USD this year.

US Dollar steady while Trump gets green light from US Supreme Court

March 4, 2024, 3:16:39 PM UTC
The US Dollar (USD) is trading very binary with mostly green against most major peers, in (Central) Europe and Commonwealth, while Asian currencies are a touch stronger than the Greenback this Monday, ahead of a very eventful week. Two main

USD/CAD: Potential for lower levels in the coming months – Commerzbank

March 4, 2024, 3:16:00 PM UTC
USD/CAD has been trading relatively stable around 1.3500 for several weeks.

EUR/USD to stay around 1.1000 for the time being – ABN Amro

March 4, 2024, 2:52:00 PM UTC
Economists at ABN Amro expect the EUR/USD pair to hover around the 1.1000 level.

Gold price strengthens ahead of data-packed week, Fed Powell’s testimony

March 4, 2024, 2:43:54 PM UTC
Gold price (XAU/USD) hovers near a two-month high around $2,085 in Monday’s early New York session.

Pound Sterling exhibits strength against US Dollar ahead of Fed Powell’s testimony

March 4, 2024, 2:34:32 PM UTC
The Pound Sterling (GBP) clings to gains, trading around 1.2670 on Monday’s early American session as investors price in that the Bank of England (BoE) won’t lower interest rates anytime soon.

USD/JPY: Scope for only a moderate move lower in the coming months – Rabobank

March 4, 2024, 2:27:00 PM UTC
Is the Bank of Japan (BoJ) ready to act? Economists at Rabobank analyze Yen’s outlook ahead of the BoJ’s March meeting.

USD/JPY rises toward 151.00 as BoJ pushes back hopes of policy normalization

March 4, 2024, 2:26:24 PM UTC
The USD/JPY pair marches toward a three-month high of 150.80 in the early New York session.

Oil pops back in the green in choppy trading day on OPEC production curbs prolonged for Q2

March 4, 2024, 2:24:59 PM UTC
Oil prices are forgetting its earlier retreat and heads back in the green for this Monday after headlines came out over the weekend confirming that OPEC will persist its production curbs for at least Q2, in line with expectations. Traders are seeing further

USD will struggle to improve significantly from current levels – Scotiabank

March 4, 2024, 2:03:00 PM UTC
The US Dollar (USD) closed lower over the week through Friday, its second, consecutive net weekly drop, and is starting the new week on the defensive again.

USD/CAD to retest 1.3440/1.3450 on a move below support at 1.3540/1.3550 – Scotiabank

March 4, 2024, 1:39:00 PM UTC
USD/CAD is little changed on the session so far. Economists at Scotiabank analyze the pair’s outlook.

GBP/USD can push a little higher in the short run to retest the low 1.2700 area – Scotiabank

March 4, 2024, 1:10:00 PM UTC
GBP/USD stretches its upside. Economists at Scotiabank analyze the pair’s outlook.

EUR/USD: A clear push through 1.0880/1.0890 should see gains progress to 1.1000/1.1100 – Scotiabank

March 4, 2024, 12:44:49 PM UTC
EUR/USD nudges higher. Economists at Scotiabank analyze the pair’s outlook.

Brent Oil should rise to $90 by year-end – Commerzbank

March 4, 2024, 12:16:26 PM UTC
The price of Brent Oil has recovered from its six-month low in mid-December and has hovered around $80 since the beginning of the year.

EUR/CZK to drift slightly lower in coming months, then follow more sideways profile over 2024-25 – Commerzbank

March 4, 2024, 11:46:00 AM UTC
The Czech Koruna (CZK) was a notable underperformer among CEE over the past year.

Gold Price Forecast: XAU/USD will move to new highs – TDS

March 4, 2024, 11:20:00 AM UTC
Gold (XAU/USD) consolidates its gains after reaching a fresh 2024-high above $2,080.

EUR/USD aims to stabilize above 1.0850 as US Dollar faces pressure

March 4, 2024, 11:09:10 AM UTC
The EUR/USD pair aims to shift the trading range above the crucial resistance of 1.0850.

Balance of risks for the Dollar before US NFP looks slightly tilted to the upside – ING

March 4, 2024, 10:52:00 AM UTC
US data still holds keys to direction and volatility in FX; Friday's Nonfarm Payrolls data may confirm January’s spike was an outlier, economists at ING say.

Stock Market Today: Nifty and Sensex close Monday with modest gains

March 4, 2024, 10:28:57 AM UTC
The Sensex 30 and Nifty 50, India’s key benchmark indices, are eyeing a positive start to the week on Monday, taking cues from mostly higher Asian stocks and the advance in the Gift Nifty futures.

UK: A moderately-sized tax relief package can give some support to GBP this week – ING

March 4, 2024, 10:28:45 AM UTC
This could be an important week for UK markets. Economists at ING analyze Pound Sterling (GBP) outlook ahead of the Spring Budget.

EUR/CHF: Bullish momentum intact – SocGen

March 4, 2024, 9:33:00 AM UTC
Economists at Société Générale note that the EUR/CHF pair retains bullish momentum after Swiss inflation data came below forecast.

Eurozone Sentix Investor Confidence Index rises to -10.5 in March vs. -12.9 previous

March 4, 2024, 9:32:00 AM UTC
The Eurozone Sentix Investor Confidence Index rose from -12.9 in February to -10.5 in March, the latest survey showed on Monday, reaching its highest level since April 2023.

Eurozone Sentix Investor Confidence up to -10.5 in March from previous -12.9

March 4, 2024, 9:30:34 AM UTC
Eurozone Sentix Investor Confidence up to -10.5 in March from previous -12.9

USD/CAD trades higher on improved US yields, moves up to near 1.3570

March 4, 2024, 9:26:46 AM UTC
USD/CAD improves higher to near 1.3570 during the European session on Monday amid a stable US Dollar (USD) with improved US Treasury yields.

EUR/USD unlikely to trade very far from its current levels in the month ahead – ING

March 4, 2024, 9:05:00 AM UTC
EUR/USD holds the range of 1.0800-1.0850. Economists at ING analyze the pair’s outlook.

AUD/USD struggles for a firm intraday direction, flat lines above 0.6500 mark

March 4, 2024, 8:53:22 AM UTC
The AUD/USD pair lacks any firm intraday direction on the first day of a new week and seesaws between tepid gains/minor losses through the first half of the European session.

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