Forex Today: King Dollar keeps advancing

FXStreet Team FXStreet

What you need to know on Thursday, March 25:

The American dollar continued to advance on Wednesday, with EUR/USD reaching a fresh 2021 low of 1.1811, despite upbeat European data. The pound also fell, trading as low as 1.3673 intraday.

Business activity in March surprised on the upside in the EU, according to Markit preliminary estimates. PMIs from other economies also indicated a better economic shape in the mentioned month, although UK inflation unexpectedly shrank in February.

Asian equities closed dip in the red, reflecting the dismal market mood. However, European and US indexes ended the day mixed, somehow shrugging off the negative sentiment. Nevertheless, the greenback retained its strength.

Commodities recovered unevenly. Gold posted a modest advance, settling at $1,735 a troy ounce. Crude oil prices were firmly higher, with WTI ending the day at $ 60.80 a barrel. Among commodity-linked currencies, the aussie was the weakest, while the loonie was the strongest.

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EUR/USD hovers around nine-day EMA above 1.1800

EUR/USD remains in the positive territory after registering modest gains in the previous session, trading around 1.1820 during the Asian hours on Monday. The 14-day Relative Strength Index momentum indicator at 54 is edging higher, signaling improving momentum. RSI near mid-50s keeps momentum balanced. A sustained push above 60 would firm bullish control.

GBP/USD holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s interest-rate cut weighs on the Pound Sterling against the Greenback.

Gold sticks to gains above $5,000 as China's buying and Fed rate-cut bets drive demand

Gold surges past the $5,000 psychological mark during the Asian session on Monday in reaction to the weekend data, showing that the People's Bank of China extended its buying spree for a 15th month in January. Moreover, dovish US Federal Reserve expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.