Weekly Global Market Highlights
This week, the Forex market witnessed major movements across currencies. The Federal Reserve maintained rates, the yen weakened sharply, and the euro-dollar showed mild recovery. Here’s your detailed weekly overview:
Fed Keeps Rates Steady – Dollar Still Firm
The U.S. Federal Reserve held interest rates steady this week. Chairman Jerome Powell emphasized data dependency before any cuts, keeping the dollar strong and trader sentiment steady.
Japanese Yen Weakens Further
The yen dropped again as the Bank of Japan maintained its stance. Japan’s finance minister mentioned close monitoring, signaling possible intervention soon.
Euro and Pound Face Pressure
The Euro and Pound traded narrowly. The euro gained minor support as the dollar paused, while the pound stayed soft amid weak UK growth data.
Major Currency Pair Movements
- EUR/USD: Mild rise, no breakout yet.
- USD/JPY: Continued upward climb with yen weakness.
- GBP/USD: Stable, awaiting new triggers.
- XAU/USD (Gold): Stayed subdued amid a strong dollar.
Trader’s Takeaway
- The U.S. dollar remains the central theme.
- Yen weakness offers opportunities in USD/JPY and EUR/JPY.
- Euro and Pound trapped in tight ranges.
- Gold may stay under pressure if dollar strength continues.
What to Watch Next Week
- U.S. inflation and jobs data – could shift dollar trajectory.
- Potential Bank of Japan yen intervention.
- ECB and BOE commentary on interest rate outlook.
Summary
The dollar holds firm, the yen keeps sliding, and traders await the next big data-driven move. Stay alert for updates from global central banks.
