USD/CHF Maintains 0.9000 Level Before US Retail Sales
USD/CHF Maintains 0.9000 Level Before US Retail Sales The USD/CHF pair is facing a sustained downtrend, with its value hovering around 0.9020 during the Asian trading session on Monday. This decline in the USD/CHF pair can be attributed to the lingering uncertainty surrounding the Federal Reserve’s (Fed) upcoming decisions on interest rates, which is creating […]
USD/CAD Retreats from Weekly High, Stays Below 1.3700
USD/CAD Retreats from Weekly High, Stays Below 1.3700 The USD/CAD pair is experiencing a decline in the Asian trading session on Friday, retreating from the weekly high it reached at 1.3700. As of the moment, the pair is trading within the range of 1.3680 to 1.3675. Several factors are contributing to this downward movement, although […]
Which Currencies Can I Trade on the Forex Market?
The Forex market, with its staggering average daily turnover of $7.5 trillion, stands as the world’s largest financial market. It presents traders with a dynamic and exciting arena to capitalize on currency movements. Thus, in this blog post, we will delve into the world of Forex trading, exploring the range of currencies available and how […]
GBP/USD Holds Steady Above 1.2200 Amid Geopolitical Tensions
GBP/USD Holds Steady Above 1.2200 Amid Geopolitical Tensions The GBP/USD currency pair has been exhibiting some resilience in the face of geopolitical tensions and economic uncertainty. After opening with a modest bearish gap below 1.2200 levels at the start of a new week, the pair managed to recover, moving closer to a one-week high touched […]
Yen Gains Ground as Dollar Weakened by Payrolls Report
Yen Gains Ground as Dollar Weakened by Payrolls Report Thursday witnessed the yen strengthening while the dollar faltered, as U.S. Treasury yields cooled off in response to mixed economic data from the United States. In light of these signals, investors tempered their expectations for further interest rate hikes by the Federal Reserve this year. The […]
USD Index Holds in Mid-106.00s, Limited Downside amid Soft Bond Yields
USD Index Holds in Mid-106.00s, Limited Downside amid Soft Bond Yields The US Dollar Index (DXY), reflecting the US dollar’s value against a basket of foreign currencies, has recently faced a bearish streak, settling near its lowest point during the Asian trading session on Thursday. Despite this decline, it has retained some of its gains […]
Gold Price Plunges to March Low on Elevated Fed Rate Expectations
Gold Price Plunges to March Low on Elevated Fed Rate Expectations The price of gold has sharply declined, hitting its lowest level since March due to expectations of a Federal Reserve interest rate increase. The Fed’s concerns about persistent inflation and the possibility of another rate hike in 2023, combined with strong US macroeconomic data, […]
Biden’s 5-Year Offshore Oil Plan: Historic Lease Sale Reduction, None in 2024
Biden’s 5-Year Offshore Oil Plan: Historic Lease Sale Reduction, None in 2024 The Biden administration’s forthcoming five-year plan for offshore oil and gas leasing breaks with tradition, featuring an unprecedented reduction in lease sales. According to insiders familiar with the matter, there will be no lease sales in 2024, and only three are planned for […]
Japan’s 10-Year Bond Yield Reaches Decade High Amid US Yield Surge
Japan’s 10-Year Bond Yield Reaches Decade High Amid US Yield Surge Japan’s 10-year government bond yield surged to its highest level in a decade, driven by the recent rise in U.S. yields, which reached their highest point in 16 years. This development comes against the backdrop of ongoing concerns about the demand for Japanese bonds, […]
Former S&P Ratings Chairman Says U.S. Weaker Now Than 2011 Downgrade
Former S&P Ratings Chairman Says U.S. Weaker Now Than 2011 Downgrade The U.S. currently finds itself in a weaker state compared to the time of S&P’s 2011 downgrade of its sovereign credit rating, as per the former chairman of the agency’s sovereign rating committee. With the looming Oct. 1 deadline, the world’s largest economy faces […]
China’s Yuan Defense May Undermine Global Bond Demand
China’s Yuan Defense May Undermine Global Bond Demand China’s efforts to defend the yuan have unintended consequences, casting a shadow on the global bond market as investors grapple with higher overseas funding costs. These developments have created a scenario where investors may divert their attention away from Chinese bonds in favor of more attractive options […]
Challenges and Concerns Arise from Weak Machinery Orders in Japan
Challenges and Concerns Arise from Weak Machinery Orders in Japan Japan is currently grappling with a pressing policy challenge and growing concerns about its economic outlook, primarily stemming from a more significant than anticipated decline in core machinery orders. These orders, which serve as a critical leading indicator of Japanese business spending, have slumped by […]
USD/JPY remains below 145.00 as BoJ provides limitless fixed-rate JGBs
USD/JPY remains below 145.00 as BoJ provides limitless fixed-rate JGBs The USD/JPY pair is currently trading below the significant level of 145.00, retreating from its year-to-date high during the Asian trading session. At present, the major pair hovers around 144.90, experiencing a marginal decline of 0.05% throughout the day. On Friday, an important development came […]
UK Q2 GDP Preview: BoE Denies Recession Forecast Despite Expected No Growth
UK Q2 GDP Preview: BoE Denies Recession Forecast Despite Expected No Growth The anticipation surrounding the United Kingdom’s economic trajectory heightens as the Office of National Statistics (ONS) gears up to unveil the first estimate of the UK’s Gross Domestic Product (GDP) for the second quarter on August 11. A palpable sense of curiosity persists, […]
WTI Oil Holds Steady Above $76.60 as FOMC Meeting Approaches
WTI Oil Holds Steady Above $76.60 as FOMC Meeting Approaches Western Texas Intermediate (WTI), the benchmark for US crude oil, is maintaining its position above the $76.60 level on Friday, displaying consolidation after achieving its fourth consecutive weekly gain. This upward momentum comes amidst indications of a tightening oil market. Adding to market dynamics, tensions […]
US Inflation Slows; Equity Markets Rally on Earnings News
US Inflation Slows; Equity Markets Rally on Earnings News The slowing down of US inflation has been a welcome development in the financial markets. Along with positive earnings news, this has contributed to a robust rally in equity markets. The EUR/JPY pair, however, has seen only a slight recovery from its intraday low, hovering around […]
Pause in US Dollar Sell-off Anticipated Prior to Confidence Data Release
Pause in US Dollar Sell-off Anticipated Prior to Confidence Data Release The US Dollar, which has been on a downward trajectory against other currencies, is anticipated to experience a temporary pause in its sell-off as the market eagerly awaits the release of key confidence data. The greenback hit a 15-month low before it began to […]
USD/CAD Sees Modest Gains Near 1.3230-35, Awaits FOMC Minutes
USD/CAD Sees Modest Gains Near 1.3230-35, Awaits FOMC Minutes The USD/CAD pair has been a focal point for investors during Wednesday’s Asian session. This currency pair saw an uptick in buying, allowing it to recover from its weekly low of approximately 1.3200 achieved on Tuesday. At present, spot prices are hovering around the 1.3230-1.3235 range, […]