FOREX TradingCharts.com

Forex News: U.S. Dollar Slides As European Shares Traded Higher

U.S. Dollar Slides As European Shares Traded Higher

02/22/2024 - 04:21:00 (RTTNews)

(RTTNews) - The U.S. dollar weakened against other major currencies in the European session on Thursday as the European stock markets traded higher, after U.S. chipmaker Nvidia said its revenue more than tripled, and profits rose nine-fold.

The A.I. chip maker also projected that its revenue would more than triple again, driven by robust demand for its specialized and costly semiconductors.

In the Asian trading today, the U.S. dollar held steady against the euro, the pound and the Swiss franc, while the greenback rose against the yen.

In the European trading now, the U.S. dollar fell to nearly a 3-week lows of 1.0888 against the euro and 1.2710 against the pound, from early highs of 1.0819 and 1.2631, respectively. If the greenback extends its downtrend, it is likely to find support around 1.10 against the euro and 1.28 against the pound.

The greenback dropped to near 2-week low of 0.8743 against the Swiss franc, from an early high of 0.8795. On the downside, 0.85 is seen as the next support level for the greenback.

Moving away from an early 6-day high of 150.47 against the yen, the greenback edged down to 150.01. The greenback may test support near the 146.00 region.

Against Australia, the New Zealand and the Canadian dollars, the greenback slid to nearly a 3-week low of 0.6596, a 5-week low of 0.6219 and a 9-day low of 1.3441 from early highs of 0.6542, 0.6177 and 1.3498, respectively. The next possible downside target for the greenback is seen around 0.67 against the aussie, 0.63 against the kiwi and 1.33 against the loonie.

Looking ahead, U.K. PMI reports for February and Eurozone CPI for January are slated for release in the European session.

In the New York session, Canada retail sales data for December, U.S. weekly jobless claims U.S. existing home sales data for January and U.S. EIA crude oil data are set to be published.

At 7:30 am ET, the European Central Bank is scheduled to issue the account of the monetary policy meeting of the governing council held on January 24 and 25.

At 10:00 am ET, Federal Reserve Vice Chair Philip Jefferson will deliver a speech on the U.S. economic outlook and monetary policy before a Peterson Institute for International Economics webcast, in Washington D.C., U.S.

At 3:15 pm ET, Federal Reserve Bank of Philadelphia President Patrick Harker will speak on the economic outlook before an event hosted by the University of Delaware Center for Economic Education, in Newark, Delaware, U.S.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Yen Slides As Traders Await FX Market Intervention (02 hr(s), 39 min(s), 52 sec(s) ago)
(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Monda ...Full Story»

Yen Slides Against Majors (03 hr(s), 18 min(s), 52 sec(s) ago)
(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Monda ...Full Story»

Euro Falls On ECB Rate Cut Bets (17 min(s), 08 sec(s) ago)
(RTTNews) - The euro was lower against its most major counterparts in the New York session on Frid ...Full Story»

Chinese Yuan Slides To 8-day Low Against U.S. Dollar (03 hr(s), 27 min(s), 52 sec(s) ago)
(RTTNews) - The Chinese yuan weakened against the U.S. dollar in the Asian session on Thursday. ...Full Story»

NZ Dollar Rises After RBNZ Holds Rate (01 hr(s), 33 min(s), 52 sec(s) ago)
(RTTNews) - The New Zealand dollar strengthened against other major currencies in the Asian sessio ...Full Story»

NZ Dollar Rises Against Majors (03 hr(s), 27 min(s), 52 sec(s) ago)
(RTTNews) - The New Zealand dollar strengthened against other major currencies in the Asian sessio ...Full Story»

Canadian Dollar Weakens Against Majors (59 min(s), 08 sec(s) ago)
(RTTNews) - The Canadian dollar dropped against its major counterparts in the New York session on ...Full Story»

Pound Rises Against Majors (20 min(s), 09 sec(s) ago)
(RTTNews) - The British pound strengthened against other major currencies in the European session ...Full Story»

Search

FOREX NEWS

Yen Slides As Traders Await FX Market Intervention

04/15/2024 - 02:33 AM (RTTNews)
(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Monda ...Full Story>>

Yen Slides Against Majors

04/15/2024 - 01:56 AM (RTTNews)
(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Monda ...Full Story>>

Euro Falls On ECB Rate Cut Bets

04/12/2024 - 12:31 PM (RTTNews)
(RTTNews) - The euro was lower against its most major counterparts in the New York session on Frid ...Full Story>>

Chinese Yuan Slides To 8-day Low Against U.S. Dollar

04/11/2024 - 01:45 AM (RTTNews)
(RTTNews) - The Chinese yuan weakened against the U.S. dollar in the Asian session on Thursday. ...Full Story>>

NZ Dollar Rises After RBNZ Holds Rate

04/10/2024 - 03:40 AM (RTTNews)
(RTTNews) - The New Zealand dollar strengthened against other major currencies in the Asian sessio ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.