Forex Today: Fiscal stimulus and yields provide support to the greenback


What you need to know on Monday, March 15:

 The American dollar eased heading into the weekly close against most major rivals, although retained its dominant strength. US Treasury yields provided support to the greenback, reaching fresh one-year highs.  The bond market volatility is expected to continue leading the way this week.

Wall Street closed mixed on Friday, with the DJIA and the S&P reaching all-time highs, but the Nasdaq falling amid the persistent sell-off in the tech sector.

Vaccine rollout and fiscal stimulus lift hopes for a sooner economic comeback in the US.

The main event this week is the US Federal Reserve Monetary Policy meeting. The central bank is expected to announce its decision next Wednesday, although it’s widely anticipated to remain on hold.

The greenback finished the week with gains only against safe-haven CHF and JPY. High-yielding rivals posted modest gains, with commodity-linked currencies doing better than European ones.

Gold closed the week with gains at $1.726,50 a troy ounce, but crude oil prices were little changed, with WTI at $ 65.50 a barrel.

Bitcoin Price Forecast: BTC hunts for support above $60,000 while declines teas

S&P 500 Week Ahead: Can stimulus check traders ward off inflation bears

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Are you new to trading or have been trading for a while and you feel stuck?

Try with us!
Become Premium!
   

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD tumbles below 1.21 as US CPI smashes estimates

EUR/USD has tumbled below 1.21 after Core CPI came out at 3%, far above 2.3% projected. The robust figures may hasten the Federal Reserve's tightening. 

EUR/USD News

GBP/USD extends slump sub-1.4100 as dollar rallies

GBP/USD has  extended its decline after US CPI beat estimates with 4.2% while Core CPI came out at 3%. Earlier, UK GDP beat expectations with -1.5%. Volatility is rising.

GBP/USD News

XAU/USD tests $1,820 as USD capitalizes on US CPI data

The XAU/USD pair fluctuated wildly in the early American session as investors assessed the latest inflation report from the US. After spiking to a daily high of $1,843, the pair reversed its direction and dropped to $1,820 area.

Gold News

Top 3 Prediction Bitcoin, Ethereum, Ripple: BTC may drop to $34,000, taking the rest of the market with it

Bitcoin price defining a bearish top formation after weeks of indecision. Ethereum price blitzes bears with steady price momentum. Ripple price fails pattern test, poised for further losses.

More Crypto News

US Consumer Price Index April Preview: The two base effects of inflation

American consumer prices are set to rise by the most in a decade as the base effect from last year’s pandemic collapse reaches its height. The Consumer Price Index (CPI) is expected to climb 0.2% in April.

Read more

Forex MAJORS

Cryptocurrencies

Signatures