The US Dollar Index (DXY), which measures the US Dollar’s (USD) performance against a basket of six major currencies, recovers on Monday after an initial downturn, stabilizing around 106.50.
The Mexican Peso (MXN) slipped against the US Dollar (US) for the second consecutive day after inflation data for the first half of February rose as expected, yet justified Banco de Mexico's (Banxico) latest 50 basis points (bps) rate cut.
The Dow Jones Industrial Average (DJIA) recovered some ground on Monday, climbing some 300 points and change at its peak in an effort to claw back some of last week’s losses sparked by an unexpected downturn in consumer confidence figures.
NASDAQ futures at risk as they fall below Point of Control at 21,510, indicating potential downside ahead. Traders eyeing key support levels for direction.
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.
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