CSFX Market News | Global Market Update

  THE U.S. DOLLAR EXPERIENCES A DECLINE TO A ONE-YEAR LOW DUE TO COOLED INFLATION IN THE U.S. The US dollar faced a slump in early European trading on Friday as the Dollar Index fell to a one-year low of 100.515, down by 0.2%, due to expectations of an early end to the Federal Reserve’s rate-tightening cycle. Investors believe that cooler-than-expected inflation data will force the central bank to cut interest rates before the end of the year, resulting in a weaker dollar. The Dollar Index is on track for a weekly decline of more than 1%, which is the steepest since January. This decline followed the release of the March US producer prices index, which fell by 0.5% from the previous month, marking the largest drop since the beginning of the pandemic. The PPI slowed down on an annual basis, rising by 2.7% from a year ago, the smallest gain in more than two years. Excluding the volatile food and energy components, the core PPI fell by 0.1% from February and increased by 3.4% from a y...

  EURUSD: NEWS & TECHNICAL Euro slide as dollar marches higher After previously reaching a 24-year high versus the Japanese yen, the dollar gained momentum against the euro and pound on Thursday as investors prepared for higher U.S. interest rates and remained concerned about the state of the European economies. The pound struck a new two-and-a-half year low of $1.15545 down roughly 0.5% as the safe-haven dollar was boosted by swings away from riskier assets. The euro fell by 0.37% to just cling over parity versus the dollar at $1.10016. The U.S. dollar index, which compares the value of the dollar to a basket of other currencies, increased by 0.34 percent to 109.09, not far from the two-decade high of 109.48 reached on Monday. According to a poll, manufacturing output in the eurozone decreased for a second month in August, echoing a global decline in industrial activity. Despite a minor down this week, European energy prices are still quite high. EUR/USD TECHNICAL ANALYSIS: DA...