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Forecasting the upcoming week: Middle East war boosts Oil, NFP miss shakes US Dollar
The Middle East crisis has escalated into an all-out war after the US and Israel assassinated the Supreme Leader of Iran on February 28. Iran not only targeted Israel but also attacked United States (US) military bases around the Persian Gulf.
Fxstreet
Fri, Mar 6
Dow Jones Industrial Average drops 600 points after shock -92K NFP print
The Dow Jones Industrial Average was down around 600 points, or 1.26%, near 47,340 at the time of writing, capping off a brutal week that saw the blue-chip index shed over 1K points. The S&P 500 traded near 6,750, down around 1.1%, while the Nasdaq Composite hovered near 22,550, off roughly 0.9%.
Fxstreet
Fri, Mar 6
USD: Jobs data and yields in focus – Danske Bank
Danske Research Team highlights that the key release is the US February jobs report, where they expect Nonfarm Payrolls to slow to 70k and unemployment to hold at 4.3%. Weekly jobless claims remain low and layoffs are easing, while productivity has cooled and unit labour costs have risen.Fxstreet
Fri, Mar 6
Forex Today: US Dollar firms ahead of NFP, Oil surges amid Middle East war
The US Dollar (USD) is being supported by crude oil prices, which rose to its highest level since July 2024, amid headlines of potential interruptions to the Strait of Hormuz and attacks on vessels in the region.Fxstreet
Thu, Mar 5
DXY: Uncertainty keeps greenback supported – ING
ING’s Chris Turner notes that persistent geopolitical risks in the Middle East and elevated energy prices are supporting the Dollar. Turner expects DXY to drift towards the upper end of recent ranges, and highlights the concerns over US private credit.Fxstreet
Thu, Mar 5
US Dollar Index gathers strength to near 99.00 on Middle East tensions, robust US services data
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.00 during the early European trading hours on Thursday. The DXY edges higher amid uncertainty and persistent geopolitical risks in the Middle East.Fxstreet
Thu, Mar 5
Forex Today: US Dollar eases despite strong jobs and Services PMI data
The US Dollar (USD) eased on Wednesday after a two-day rally drove the US Dollar Index (DXY) near the 100.00 mark. The Greenback ignored the positive employment data and ISM Services PMI as the ongoing war between the US and Iran weights on sentiment.Fxstreet
Wed, Mar 4
USD: Haven demand supports near term gains – BBH
Brown Brothers Harriman’s Elias Haddad notes the Dollar has retraced part of its recent surge but still benefits from short-term haven demand linked to Dollar funding needs. Rising cross-currency basis points to higher USD borrowing costs as stress lifts demand for short-term funding.Fxstreet
Wed, Mar 4
USD: Fed pricing supports strength – ING
ING’s Chris Turner notes that US data, including ADP jobs, ISM services prices and the Fed’s Beige Book, could reinforce expectations of limited Fed easing in 2026. Turner doubts DXY will sustainably break above 100.35 without an improvement in energy markets.Fxstreet
Wed, Mar 4
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