Dollar Edges Higher; ECB, BOE Meetings – The U.S. dollar edged higher Thursday, benefiting from a degree of risk aversion after disappointing results from Facebook (NASDAQ:FB) owner Meta Platforms.

At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, edged 0.2% higher to 96.095.

The dollar, seen as a safe haven in times of stress, has received some support after Meta Platforms reported disappointing earnings and a weak outlook, prompting a selloff in tech and social media stocks.

FX Signals

Risk-sensitive currencies, like the Australian and New Zealand dollars, struggled, with AUD/USD down 0.2% to 0.7119 and NZD/USD 0.1% lower at 0.6622.


Usdjpy uptrend by fxpremiere on


Usdchf uptrend by fxpremiere on


Eurusd uptrend by fxpremiere on


Xauusd Gold downtrend by fxpremiere on

The dollar index is up another 0.5% this year so far, having climbed nearly 7% in 2021, its best performance since 2015, as the Federal Reserve moved slowly to withdraw its extraordinary pandemic-era monetary support for the economy.

Trading Concepts

Daily FX Signals

Away from the Fed, policy decisions from the Bank of England and European Central Bank are due at 7 AM ET (1200 GMT) and 7:45 AM ET respectively, and a news conference with ECB President Christine Lagarde is scheduled at 8 AM ET.

GBP/USD fell 0.2% to 1.3550, ahead of the Bank of England meeting. With inflation at a three-decade high, the central bank is widely expected to deliver the first back-to-back interest-rate increase since 2004, after a 15 basis-point hike in December.

US Dollar Index Up GBP Up as BOE Signals

“Presumably the inflation forecast will be revised a lot higher and the market will be interested in reading whether the BoE still feels CPI will be above the 2% target in 2-3 years’ time – even with all the tightening priced in,” said analysts at ING, in a note.

Euro Pound Exchange Rate Continues

The ECB isn’t expected to move at this meeting, but investors will carefully listen to President Christine Lagarde’s press conference for any changes to the outlook for its bond-buying, which will continue in reduced form even when the emergency pandemic program ends in March.

Elsewhere, USD/JPY rose 0.1% to 114.59 after Japan’s services sector activity contracted at the fastest pace in five months in January, with the services PMI falling to 47.6 from the prior month’s 52.1 and a 48.8 flash reading.

The world’s third-largest economy has seen Covid-19 cases surge in recent weeks, forcing the government to roll out tougher curbs across much of the country.

Dollar Edges Higher; ECB, BOE Meetings

Pound Euro GBPEUR Exchange Rate Rises

Dollar Edges Higher; ECB, BOE Meetings

FX Signals

The most traded pairs of currencies in the world are called the Majors.EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF, NZD/USD and USD/CAD, Gold, Oil and many many more… Forex Trading comes with it high risk. We help by referring only the very best forex brokers available in the marketplace. Your in safe hands with our partners. eurusd signals

Forex Signals Telegram Learning centre is now available for all to read. With blog posts written monthly on the most common searched terms. Euro inches higher ahead of ECB

US Dollar Up, Major Currencies on Hold

The Week Ahead

Euro dollar volatility surges US Dollar index Up Yen down to Three

Euro strengthens as improved risk sentiment hits dollar

Dollar Edges Higher; ECB, BOE Meetings