Forex Today: Market Players on Edge as Critical Economic Statistics Hit the Fore
NEWS | Date: November 12, 2024 | By: [Muhammad Haseeb] Global markets are trading with cautious optimism as investors are still digesting the impact of economic data releases from recent days and trying to speculate on the upcoming key ones. That causes a reflection across both foreign exchange markets and equities: uncertainty over inflation factors and central-bank action keeps the traders watching carefully. AD1 US dollar gains as traders wait for key data The US Dollar continued its ascent on a mixed combination of economic resilience and renewed inflation fears. The dollar moved higher following communications this week from the Fed on interest rates, leading to thoughts among traders that rates may be higher for longer and, therefore, unlikely to be cut anytime in the near term. What has been seen in this environment is a panoply of various USD pairs, as it remains above 153.00 in the case of USD/JPY, and the pound has furthered its decline towards the 1.2800 mark of GBP/US