The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, has completely recovered Asian losses in the US trading session this Monday. The initial move down in the US Dollar came in, due to
BoC Governor Macklem said Friday the economy was on a 'better footing' on the back of a pickup in consumer demand but noted again that the consequences of a trade war with the US would be 'severe' and the threat of tariffs was already doing economic harm, Scotiabank's Chief FX Strategist Shaun Osborne notes.
West Texas Intermediate (WTI), futures on NYMEX, bounces to near $70.44 in Monday’s European session after posting an over seven-week low around $70.00 on Friday.
London cocoa came under additional pressure on Friday, with the front-month contract falling more than 7.6% to settle at a little over GBP7,300/t, ING’s commodity analysts Warren Patterson and Ewa Manthey notes.
EUR/USD gives up its entire intraday gains after revisiting the one-month high near 1.0530 and drops to near 1.0460 in Monday’s North American session.
Oil prices sold off heavily on Friday, with ICE Brent settling 2.68% lower on the day and WTI briefly trading below US$70/bbl this morning for the first time this year, ING’s commodity analysts Warren Patterson and Ewa Manthey notes.
Here is what you need to know on Monday, February 24: The Euro (EUR) gathers strength against its rivals to begin the week as investors assess the results of the German election.
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, kicks off the new week on a downbeat note and drops to its lowest level since December 10 during the Asian session.
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