EUR/JPY Stabilizes Around 157.00, Rebounds Following PMI Data
EUR/JPY Stabilizes Around 157.00, Rebounds Following PMI Data EUR/JPY continues its downtrend for the sixth consecutive day, trading around 156.90 during the early European session on Monday. However, the pair has trimmed some of its intraday losses after the release of key economic data, including the Eurozone Producer Price Index (PPI) and Germany’s Purchasing Managers’ […]
Yen Weakens as Dollar Gains Amid Risk-Off Sentiment
Yen Weakens as Dollar Gains Amid Risk-Off Sentiment The Japanese Yen (JPY) ended its two-day winning streak on Monday, as the USD/JPY pair recovered its daily losses with the US Dollar (USD) gaining ground amid risk-off sentiment. The Bank of Japan (BOJ) maintained its economic assessment for five of Japan’s nine regions in its latest […]
China’s Central Bank to Adjust Temporary Repos Based on Market Conditions
China’s Central Bank to Adjust Temporary Repos Based on Market Conditions The People’s Bank of China (PBOC) has announced measures to exert greater control over market interest rates by implementing additional open market operations and tightening the range within which short-term rates can fluctuate. The PBOC will now conduct bond repurchase or reverse repurchase operations […]
USD/CHF Extends Losses Amid Rising Fed Rate Cut Prospects
USD/CHF Extends Losses Amid Rising Fed Rate Cut Prospects The USD/CHF pair continues its decline for the fourth consecutive trading day on Monday, staying below the key psychological level of 0.9000. This decline is primarily driven by a weakening US Dollar (USD) amid increasing speculation that the Federal Reserve (Fed) will shift towards policy normalization […]
Pound Holds Steady as Labour Eyes Election Majority
Pound Holds Steady as Labour Eyes Election Majority UK equity-index futures rose, and the pound maintained its recent gains following an exit poll suggesting the Labour Party will secure a clear mandate for greater economic stability. Contracts on the FTSE 100 Index increased by 0.2%, while the pound remained steady around $1.276. Early results indicated […]
Australian Dollar Rises on Hawkish RBA Sentiment
Australian Dollar Rises on Hawkish RBA Sentiment The Australian Dollar (AUD) appreciated for the fourth consecutive day on Friday, driven by high inflation and expectations that the Reserve Bank of Australia (RBA) will delay potential rate cuts. The June Meeting Minutes from the RBA revealed that the board saw a stronger case for holding rates […]
GBP/JPY Slides to 205.00 Amid Intervention Fears
GBP/JPY Slides to 205.00 Amid Intervention Fears The GBP/JPY pair continued its downward trend for the second consecutive day on Friday, moving away from its highest level since August 2008, which was around 206.15 earlier this week. Currently, the spot prices are trading just above the 205.00 psychological mark, down approximately 0.35% for the day. […]
Gold Price Near Two-Week High Amid Upbeat Market Mood
Gold Price Near Two-Week High Amid Upbeat Market Mood During the Asian session on Thursday, the gold price (XAU/USD) maintained a positive bias and remained just below the nearly two-week high reached the previous day. However, the strong bullish sentiment across global equity markets acted as a headwind for the safe-haven precious metal, particularly amid […]
Fed Sought More Inflation Data in June Minutes
Fed Sought More Inflation Data in June Minutes At their last policy meeting, Federal Reserve officials were divided on how long to maintain elevated interest rates and were awaiting more evidence that inflation is cooling. The minutes from the Federal Open Market Committee (FOMC) meeting, which ended on June 12, revealed that officials did not […]
Topix and Nikkei Hit Record Highs in Japan Stock Rally
Topix and Nikkei Hit Record Highs in Japan Stock Rally Japan’s Topix stock index surged past its bubble-era peak to reach a record high, signaling a broad-based rally beyond just a few stocks. The benchmark index rose as much as 0.6% to 2,890.52, exceeding the previous intraday record set in December 1989. Most of the […]
Gold Price Hits Multi-Day High, Awaits FOMC Minutes for Direction
Gold Price Hits Multi-Day High, Awaits FOMC Minutes for Direction Gold prices (XAU/USD) are seeing renewed buying interest during the Asian session on Wednesday, building on the previous day’s rebound from the $2,319-$2,318 support zone. Currently, the precious metal is positioned near the top end of its short-term trading range, which has held steady over […]
Japan’s Service Activity Declines for First Time in 2 Years, PMI Reveals
Japan’s Service Activity Declines for First Time in 2 Years, PMI Reveals Japanese service activity contracted in June for the first time in nearly two years as domestic demand cooled, according to a private sector survey released on Wednesday. Despite this contraction, business confidence and hiring indicators remained positive. The service sector has been a […]
EUR/JPY Rises Above 173.50, Focus on Eurozone PMI
EUR/JPY Rises Above 173.50, Focus on Eurozone PMI The EUR/JPY pair remains in positive territory for the sixth consecutive day, trading near 173.80 during the early European session on Wednesday. This sustained upward movement is primarily due to the weakening Japanese Yen (JPY), which has been impacted by recent data indicating a contraction in Japanese […]
Gold Holds Steady Below 50-Day SMA, Awaits Fed Chair Powell’s Speech
Gold Holds Steady Below 50-Day SMA, Awaits Fed Chair Powell’s Speech Gold prices (XAU/USD) faced fresh selling pressure during the Asian session on Tuesday, reversing the previous day’s gains and approaching the 50-day Simple Moving Average (SMA), a significant resistance level. The US Dollar (USD) gained traction as investors awaited more clarity on the Federal […]
US Yields Boost Dollar, Weaken Yen
US Yields Boost Dollar, Weaken Yen The dollar strengthened on Tuesday, driven by rising U.S. yields, putting pressure on low-yielding currencies like China’s yuan and Japan’s yen, which fell to its lowest level since 1986. Benchmark 10-year Treasury yields increased nearly 14 basis points to 4.479% overnight. Analysts attributed this rise to expectations of Donald […]
Asian Shares Mixed After Wall Street Gains
Asian Shares Mixed After Wall Street Gains Asian stocks experienced mixed performance on Tuesday following gains on Wall Street and a surge in U.S. bond yields as election-related issues influenced global markets. U.S. futures declined, while oil prices increased. The Japanese yen fell to a near 38-year low, hitting 161.67 yen to the dollar early […]
Australian Dollar Drops on Weak Manufacturing PMI
Australian Dollar Drops on Weak Manufacturing PMI The Australian Dollar (AUD) may find some relief as the Caixin Manufacturing PMI from China increased to 51.8 in June, surpassing expectations of a decline to 51.2 from May’s 51.7. This unexpected boost in Chinese manufacturing activity is significant for Australia, given the close trade relationship between the […]
Japan’s Land Prices Rise at Fastest Pace Since 2010, Tax Agency Reports
Japan’s Land Prices Rise at Fastest Pace Since 2010, Tax Agency Reports In 2023, Japan’s land prices experienced their fastest rise since comparable data became available in 2010, as reported by the National Tax Agency on Monday. This increase highlights a robust recovery, driven in part by a resurgence in tourism following the coronavirus pandemic. […]