Forex News and analyses

Interruption of the dollar’s rise

16 febrero 2017

The series of rise of the US dollar was halted on Wednesday. The dollar realized losses from all the major currencies, the only exceptions were the British and Canadian currency.

EUR / USD closed at 1.0599 - an increase of 0.20%. Until the opening of US markets the euro lost value as the lowest point reached the level of 1.0521. During the last third of the day the euro reverse the trend and closed positively.

The British pound was one of the few currencies that lost to the dollar. The loss was not serious - only 8 pips. For a short period before the closure of European markets it was even in positive territory, but it was not saved to the end of the day and the end result was red.

USD / CAD has gone through many twists and turns throughout the day as price movements were not characterized by a certain direction and were oscillating in the range from 1.3060 to 1.3100. At the end of the day the dollar led and managed to close with a minimum gain - only 2 pips.

The Australian dollar continued its good performance of the previous day and grew by 0.70 percent. The upward trend remained valid until the end of the day, there were only one deeper correction to 200-hour moving average.

Similar was the development of the NZD / USD, as here, the end result of the day was even more expressive - + 0.84%. During the day, the price dynamics of the two times "dropped" to the key level at 0.7150, but continue to follow the main upward trend untill the end of the trading session.

The Japanese yen price action was interesting. The closing at his positive territory was due to the last 6 hours of the day when a strong growth wiped the accumulated profit of the dollar and ended with added 0.10% to its value.

Gold closed at 1233.23, adding $ 6 to its value.