The US dollar had a volatile session on Thursday, as we continue to go back and forth just above the 113 level during the Janet Yellen congressional testimony.
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The WTI Crude Oil market rallied on Thursday, after initially dipping down towards the $45 level. Natural gas markets initially tried to rally, but found the area above the $3.00 level to be far too resistive.
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The EUR/USD pair initially tried to reach at the 1.15 level, but failed. The British pound fell initially during the day but found enough support at the 1.28 level to turn around and rally.
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The US dollar fell significantly against the Japanese yen during the Wednesday session as Janet Yellen spoke in front of Congress. The Australian dollar had a good session, reaching the 0.7675 handle.
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The S&P 500 had a strong showing on Wednesday as the Congressional testimony of Janet Yellen assured traders that although there will be interest rate hikes in the near future.
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The WTI Crude Oil market had a very volatile session during Wednesday, as currency markets were moved drastically by Janet Yellen’s comments for the Congressional members.
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Get the EUR/USD Forex signal for July 13, 2017 here.
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Gold prices ended Wednesday’s session up $3.80 an ounce, extending their gains to a third-straight session, after Federal Reserve Chair Janet Yellen signaled a cautious approach to further monetary tightening.
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The EUR/USD pair rallied on Tuesday, breaking towards the 1.15 level. The British pound initially tried to rally, but turned around after Broadbent failed to mention anything about monetary policy.
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