Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The dollar rose to a maximum and ends the seventh consecutive week of growth


August, 25 2023
watermark Economic news

On Friday, the US dollar showed a strengthening against its major rival currencies, reaching its highest in more than two months. Moreover, the US currency is preparing to finish with growth for the seventh week in a row.


The dollar is supported by expectations of today's speech by Federal Reserve Chairman Jerome Powell, which may contain signals about the long-term trajectory of interest rates. Market participants hope for clarity regarding the completion of the Fed's monetary policy tightening cycle and the duration of keeping rates at elevated levels.


The dollar index rose by 0.173% today compared to Thursday's closing level, reaching a maximum since June 7 – 104.25. Since the beginning of August, the index has grown by more than 2%, and after two consecutive months of decline, it can end August with positive dynamics.


The EUR/USD pair declined by 0.28%, reaching 1.0779, while the GBP/USD pair fell by 0.29% to 1.2563. Both of these assets have been at their lowest values since mid-June.


The yen weakened against the US dollar by 0.19%, reaching the level of 146.10 yen. The pair has overcome the level at which currency interventions by the Japanese authorities were carried out last year, and investors are currently watching for signs of possible currency interventions.


The AUD/USD pair declined by 0.20%, reaching 0.641, and the NZD/USD pair fell by 0.27%, to the level of 0.590.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.