As the markets continue to shift rapidly, keeping up with Forex news and trends is more important than ever.
Whether you're tracking stocks, bonds, commodities, or currencies, having a finger on the pulse of the market can make or break your trading game.
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Market Wrap: Stocks, Bonds, Commodities
Yesterday, U.S. stocks slipped as they failed to hold gains seen earlier in the session. The Dow Jones Industrial Average fell by 57 points (-0.14%), with the S&P 500 dropping by 11 points (-0.21%), and the Nasdaq 100 down 27 points (-0.13%). This is largely due to mixed economic data:
U.S. inflation slowed to 2.4% year-on-year in September, but not as much as anticipated.
Initial jobless claims jumped to 258,000, their highest level since June 2023.
Energy and materials sectors were the day’s only gainers, with WTI crude oil climbing 3.56% to $75.85/barrel and gold bouncing back by $22 to $2,630/oz.
Across the pond, European stocks also closed lower, with the DAX 40 declining by 0.23%, CAC 40 by 0.24%, and the FTSE 100 by 0.07%.
Forex Highlights & USD/JPY Watch
On the Forex side, the U.S. dollar dipped amid easing inflation data, and the jobless claims provided further downward pressure. Here’s a quick rundown of key pairs:
EUR/USD: Slight dip to 1.0936 after Germany reported a 1.6% increase in retail sales for August.
GBP/USD: Slipped to 1.3059, while the AUD/USD rose slightly to 0.6738.
USD/JPY: Dropped by 72 pips to 148.57, but as of today, the pair edged up to 148.65.
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