Page 58 - Simple Moving Average News Today

The Euro (EUR) saw thin but insistent broad-market gains on Wednesday, climbing against the rest of the major currency bloc in thin markets on equally thin data, with Tuesday’s Eurozone Unemployment Rate continuing to bolster the Euro as investors shrug off bearishly cautionary statements from European Central Bank (ECB) policymakers.

The overwhelming majority of US equity indexes closed in the green on Wednesday, fueled in large part by record-setting highs in chipmaker Nvidia, while Facebook owner Meta and Google operator Alphabet both posted 12-month highs through the day.

The S&P 500 index has started the week off on the right foot in the first full week of trading for the year.

The EUR/USD climbed on Monday, falling just short of 1.0980 before sliding back into 1.0950 in a consolidation pattern that is becoming familiar in the early stages of 2024.

The Japanese Yen (JPY) remains on the front foot against its American counterpart for the second successive day on Tuesday and seems rather unaffected by falling rates of inflation in Tokyo – Japan’s capital city.

Gold price is back in the green early Tuesday, building on the turnaround from three-week lows of $2,017 set on Monday.

Gold price (XAU/USD) gains some positive traction during the Asian session on Tuesday and moves away from a near three-week low, around the $2,017-2,016 region touched the previous day.

The US Dollar (USD) trades broadly steady on Tuesday’s European morning, posting  gains against most G20 currencies. Still, measured by the DXY US Dollar Index, the Greenback was easing a touch as a firm risk-on tone returned on Monday in US

The Canadian Dollar (CAD) extended declines on Tuesday, slipping to a new low for the week as market sentiment recoils in the last quarter of the trading day.

The Mexican Peso (MXN) is losing steam against the US Dollar (USD) in early trading on Tuesday as the Greenback rises.