• Latest
  • Trending
  • All
Markets climb despite rising US inflation

Dollar struggles to extend gains as stocks buoyed

February 9, 2022 15:49
Equities struggle amid economic and China-related concerns

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
Dollar lacks upside momentum due to lower Treasury yields

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
Stocks gain, dollar eases ahead of job market data

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
Dollar lacks upside momentum due to lower Treasury yields

Dollar tries to shrug off the pressure

December 26, 2022 05:13
Investors spooked by strong US data

Investors spooked by strong US data

December 23, 2022 11:55
Dollar lacks upside momentum due to lower Treasury yields

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
Risk demand reemerges cautiously, but caution remains in place

Risk demand reemerges cautiously, but caution remains in place

December 21, 2022 08:49
Dollar lacks upside momentum due to lower Treasury yields

US dollar resists selling pressure

December 20, 2022 10:44
Market sentiment dented by recession fears

Market sentiment dented by recession fears

December 19, 2022 02:53
Dollar lacks upside momentum due to lower Treasury yields

Greenback stays on the defensive nearly across the board

November 16, 2022 05:34
Investor sentiment improves, but gains limited

Investor sentiment improves, but gains limited

November 15, 2022 05:46
Dollar lacks upside momentum due to lower Treasury yields

Dollar licks wounds after plunge

November 14, 2022 05:05
  • Terms & Сonditions
  • Contact
Saturday, April 1, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Dollar struggles to extend gains as stocks buoyed

Dollar struggles to extend gains as stocks buoyed

by Stephen Soo
February 9, 2022 15:49
in Fundamental analysis
0
Markets climb despite rising US inflation


The Shanghai Composite index added 0.79% despite rising tensions between Beijing and Washington

Wall Street stocks rose on Tuesday as investors digested strong corporate earnings, with tech companies and banks leading gains during the session. In individual stocks, Harley-Davidson rallied more than 15% after the giant reported a surprise profit for the fourth quarter. Adding to a positive tone, the US House has passed a funding bill to avoid a government shutdown to keep the federal government open until March 11. The bill now goes to the upper house for its vote. As such, the Dow Jones Industrial Average gained 1.06%, the S&P 500 added 0.84%, and the Nasdaq Composite advanced 1.28%. For the week, the S&P 500 is up 0.5%, the Dow is up 1.1%, and the Nasdaq adds 0.7%.

Following suit, Asian shares advanced on Wednesday, with MSCI’s broadest index of Asia-Pacific shares outside Japan gaining 1% to its highest in two weeks. The Nikkei 225 in Tokyo added 1.08% while the South Korean Kospi advanced 0.81%. In China, the Shanghai Composite index added 0.79% despite rising tensions between Beijing and Washington. Earlier today, China vowed to take countermeasures after the US announced a plan to sell $100 million worth of Patriot missile upgrades to the island of Taiwan.

Meanwhile, the dollar looks steady, refraining from a more robust ascent even as US 10-year Treasury yields hit fresh pandemic-era highs around 1.97%, approaching the 2% mark. The USD index looks directionless around 95.60 on Wednesday after yesterday’s rejection from the 95.75 zone. EURUSD keeps flirting with the descending 100-DMA while desperately trying to hold above the 1.1400 figure. However, it looks like the pair will dip below this support zone in the short term and could extend the retreat in the coming days if the US CPI report shows consumer prices rose to fresh nearly 40-year highs in January.

Elsewhere, gold prices have been trading north for the fourth session in a row on Wednesday. The XAUUSD pair climbed to fresh February highs just below the $1,830 figure before retreating marginally in recent trading. The bullion has been retaining bullish bias since late January, but a reversal could take place in the near term if the greenback receives a strong boost from inflation data. In this scenario, the market focus would shift back to the $1,800 figure.

Tags: DollarEURUSDUSUSDXAUUSD
Share2Tweet1
ADVERTISEMENT
Stephen Soo

Stephen Soo

Stephen's specialty is fundamental analysis. He graduated from the Booth School of Business, the University of Chicago. Stephen currently cooperates with several news agencies, and on FWNews he publishes macroeconomic news and reviews on brokerage companies.

Related Posts

Equities struggle amid economic and China-related concerns
Fundamental analysis

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
12
Stocks gain, dollar eases ahead of job market data
Fundamental analysis

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar tries to shrug off the pressure

December 26, 2022 05:13
12
Investors spooked by strong US data
Fundamental analysis

Investors spooked by strong US data

December 23, 2022 11:55
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
16

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Pound corrects higher due to dollar weakness

Dollar demand eases following recent gains

March 15, 2021 06:40
14
Chip Somodevilla/Getty Images

Trump says infrastructure bill should slash salary of highest-paid federal worker

April 9, 2020 07:27
11
Stocks rally across the board amid stimulus hopes

Stocks turn mixed after volatile and painful week

January 28, 2022 23:58
10

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
118
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war
News

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95
FWNews

Copyright © 2022 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2022 FWNews