S&P 500, Nasdaq, DAX, Dollar Index, EUR/USD, USD/JPY and Gold analysis – February 22, 2024 [CiY7omjNegs]
For more market insight, go to The EUR/USD rose along with most other FX majors in early European session on Thursday. They were all boosted by weakness in US dollar, thanks to further improvement in risk appetite. Commodity dollars outperformed overnight as the already-positive risk sentiment took another boost by Nvidia’s forecast-beating earnings and positive outlook that sent Nasdaq futures near new unchartered territories and lifted Asian markets. The greenback then fell further once European trading got underway, as the German DAX index hit a fresh record high. Consequently, the likes of the EUR/USD turned up the heat, boosted by stronger-than-expected PMI data from France. However, German PMI data that was released a bit later disappointed expectations, as manufacturing activity fell to 42.3 from 45.5, which helped to keep the EUR/USD under the 1.09 handle.