Created
: 2024.10.14
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
Forex Today: Major currency pairs stay calm to start week, partial market holiday in US
World FX news
Breaking news
Forex Today: Major currency pairs stay calm to start week, partial market holiday in US
New
2024.10.14 15:51
2024.10.14 15:51
2024.10.14 15:51
Here is what you need to know on Monday, October 14:
Major currency pairs trade near the previous week's closing levels to start the new week. The New York Stock Exchange and the Nasdaq Stock Market will be open in normal hours on Monday but bond markets will be closed in observance of the Columbus Day holiday. During the American trading hours, Minneapolis Federal Reserve President Neel Kashkari and Federal Reserve Governor Christopher Waller will be delivering speeches.
The US Dollar (USD) gathered strength against its major rivals last week, with the USD Index posting gains for the second consecutive week. In the European morning on Monday, the index holds steady at around 103.00. Meanwhile, US stock index futures trade marginally lower on the day, reflecting a cautious stance. A spokesperson at the US Department of State said on Monday that they are "seriously concerned by the People's Liberation Army (PLA) military drills in the Taiwan strait and around Taiwan." In the meantime, CNN reported on Sunday that at least four Israeli soldiers were killed and more than 60 people were injured by a Hezbollah drone attack in north-central Israel.
US Dollar PRICE Last 7 days
The table below shows the percentage change of US Dollar (USD) against listed major currencies last 7 days. US Dollar was the strongest against the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.41% | 0.38% | 0.33% | 1.52% | 0.86% | 1.03% | -0.01% | |
| EUR | -0.41% | 0.03% | -0.07% | 1.15% | 0.42% | 0.61% | -0.45% | |
| GBP | -0.38% | -0.03% | -0.14% | 1.12% | 0.39% | 0.62% | -0.36% | |
| JPY | -0.33% | 0.07% | 0.14% | 1.19% | 0.51% | 0.65% | -0.30% | |
| CAD | -1.52% | -1.15% | -1.12% | -1.19% | -0.63% | -0.49% | -1.52% | |
| AUD | -0.86% | -0.42% | -0.39% | -0.51% | 0.63% | 0.24% | -0.82% | |
| NZD | -1.03% | -0.61% | -0.62% | -0.65% | 0.49% | -0.24% | -1.00% | |
| CHF | 0.01% | 0.45% | 0.36% | 0.30% | 1.52% | 0.82% | 1.00% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
EUR/USD closed the last trading day of the previous week unchanged but ended the week in the red. The pair fluctuates in a tight range near 1.0930 to begin the European session on Monday.
GBP/USD stays in a consolidation phase below 1.3100 after posting small losses last week. The UK's Office for National Statistics will release employment data on Tuesday and publish Consumer Price Index (CPI) figures on Wednesday.
USD/JPY moves up and down in a narrow band above 149.00 on Monday. Japanese Prime Minister Shigeru Ishiba said on Sunday that he would not intervene in monetary policy affairs, as the Japanese central bank is mandated to achieve price stability.
After declining with the immediate reaction to the upbeat Canadian labor market data, USD/CAD regained its traction and closed the eighth consecutive trading day in positive territory on Friday. The pair holds its ground early Monday and edges higher toward 1.3800. Canadian markets will remain closed in observance of the Thanksgiving Day on Monday. On Tuesday, the Canadian economic calendar will feature September inflation data.
Gold managed to build on Thursday's gains and rose nearly 1% on Friday. At the time of press, XAU/USD was moving sideways at around $2,660.
Inflation FAQs
Inflation measures the rise in the price of a representative basket of goods and services. Headline inflation is usually expressed as a percentage change on a month-on-month (MoM) and year-on-year (YoY) basis. Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%.
The Consumer Price Index (CPI) measures the change in prices of a basket of goods and services over a period of time. It is usually expressed as a percentage change on a month-on-month (MoM) and year-on-year (YoY) basis. Core CPI is the figure targeted by central banks as it excludes volatile food and fuel inputs. When Core CPI rises above 2% it usually results in higher interest rates and vice versa when it falls below 2%. Since higher interest rates are positive for a currency, higher inflation usually results in a stronger currency. The opposite is true when inflation falls.
Although it may seem counter-intuitive, high inflation in a country pushes up the value of its currency and vice versa for lower inflation. This is because the central bank will normally raise interest rates to combat the higher inflation, which attract more global capital inflows from investors looking for a lucrative place to park their money.
Formerly, Gold was the asset investors turned to in times of high inflation because it preserved its value, and whilst investors will often still buy Gold for its safe-haven properties in times of extreme market turmoil, this is not the case most of the time. This is because when inflation is high, central banks will put up interest rates to combat it. Higher interest rates are negative for Gold because they increase the opportunity-cost of holding Gold vis-a-vis an interest-bearing asset or placing the money in a cash deposit account. On the flipside, lower inflation tends to be positive for Gold as it brings interest rates down, making the bright metal a more viable investment alternative.
Last updated
: 2024.10.14
Related articles
EUR/USD edges lower on Taiwan risks, ECB meeting on the horizon
14 minutes agoEUR: ECB to provide a 25 bps rate cut in October - DBS
18 minutes agoGBP/USD: Likely to decline towards 1.3000 - UOB Group
21 minutes agoDXY: Likely be capped around 103.30 - DBS
24 minutes agoEUR/USD: Bias tilted to the downside - UOB Group
30 minutes agoChina's Trade Balance: Surplus shrinks in September on big exports slump
2024.10.14 18:12
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
EUR/USD edges lower on Taiwan risks, ECB meeting on the horizon
EUR/USD exchanges hands in the 1.0920s on Monday, marginally down on the day, as the US Dollar (USD) attracts safe-haven flows on the back of increasing geopolitical risks stemming from Taiwan, where the Chinese People's Liberation Army (PLA) is conducting drills.
New
2024.10.14 19:03EUR: ECB to provide a 25 bps rate cut in October - DBS
We are cautious about the dovish bias for EUR/USD ahead of the 25 bps rate cut expected at the European Central Bank meeting on October 17, DBS' FX analyst Philip Wee notes.
New
2024.10.14 18:59GBP/USD: Likely to decline towards 1.3000 - UOB Group
The Pound Sterling (GBP) is likely to decline; the major support at 1.3000 is probably out of reach.
New
2024.10.14 18:56DXY: Likely be capped around 103.30 - DBS
This month's recovery in the Dollar Index (DXY) from 101.2 will likely be capped around 103.30, DBS' FX analyst Philip Wee notes.
New
2024.10.14 18:53EUR/USD: Bias tilted to the downside - UOB Group
Bias for the Euro (EUR) is tilted to the downside; given the mild momentum, any decline is unlikely to break clearly below 1.0900.
New
2024.10.14 18:47Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Monday, according to FXStreet data.
New
2024.10.14 18:30China's Trade Balance: Surplus shrinks in September on big exports slump
China's Trade Balance for September, in Chinese Yuan (CNY) terms, came in at CNY582.62 billion, expanding from the previous figure of CNY649.34 billion.
New
2024.10.14 18:12GBP/USD Price Forecast: Bears have the upper hand, 50-day SMA breakdown in play
The GBP/USD pair extends its sideways consolidative price move at the start of a new week and oscillates in a narrow trading band around mid-1.3000s through the first half of the European session.
New
2024.10.14 18:03USD/CAD Price Forecast: Rises to near 1.3800, upper boundary of ascending channel
USD/CAD continues its winning streak that began October 2, hovering around 1.3790 during the European trading hours on Monday.
New
2024.10.14 18:02EUR/GBP flat lines above mid-0.8300s, remains confined in a multi-day-old range
The EUR/GBP cross extends its sideways consolidative price move through the first half of the European session on Monday and remains confined in a familiar range held over the past week or so.
New
2024.10.14 17:37Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
