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Global Markets

US Dollar Gains Ground Amid Rally In The Oil Markets

724FinanceDefne Aydın
US Dollar Gains Ground Amid Rally In The Oil Markets

The US dollar index is gaining ground as traders prepare for the release of FOMC minutes and react to rising tensions in the Middle East. President Trump said that the US could launch strikes against Iran and resume the blockade of the country's ports. Oil prices are up by more than 5% as traders react to the surprising escalation between the US and Iran. Rising oil prices could force the Fed to be more hawkish, which is bullish for the American currency.

  • ■The US dollar index is gaining ground as traders prepare for the release of FOMC minutes.

  • ■EUR/USD is losing ground as traders focus on the strong rally in the oil markets.

  • ■GBP/USD is swinging between gains and losses as traders focus on geopolitical tensions.

  • ■USD/CAD is losing some ground despite the strong pullback in precious metals markets.

  • ■USD/JPY is moving higher as traders focus on rising Treasury yields.

    • The US dollar index is gaining ground as traders prepare for the release of FOMC minutes and react to rising tensions in the Middle East. This situation indicates that the dollar may become even stronger in the short term. However, it is still uncertain how oil prices will behave in the long term and how they will affect the value of the dollar.
    Defne Aydın

    Financial Analyst: Defne Aydın

    Jeopolitik Risk ve Avrupa Piyasaları Direktörü. Avrupa Merkez Bankası (ECB) faiz patikasını, Eurozone enflasyonunu ve küresel ticaret savaşlarındaki gümrük tarifesi (tariff) politikalarını yorumlayan otorite.

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