Japanese Yen Bears Show Resilience Despite Intervention Concerns
Japanese Yen Bears Show Resilience Despite Intervention Concerns The Japanese Yen (JPY) has clawed back much of its earlier losses against the US Dollar (USD), with the USD/JPY pair stabilizing in the mid-154.00s as the European session begins on Monday. Fears of intervention by Japanese authorities to bolster the Yen, combined with heightened geopolitical tensions, […]
Australian PM’s Support Falls After Weak GDP Growth
Australian PM’s Support Falls After Weak GDP Growth Support for Australia’s center-left Labor government has slumped following a week of unfavorable economic news and political tensions over immigration, according to a new poll. Prime Minister Anthony Albanese’s party has hit its lowest point since winning power two years ago. A Newspoll survey published by The […]
USD/CAD Drops as US Dollar Weakens and Oil Prices Fall
USD/CAD Drops as US Dollar Weakens and Oil Prices Fall The USD/CAD currency pair ended its five-day rally, settling at around 1.3820 during the Asian trading session on Wednesday. This shift was primarily due to a modest correction in the US Dollar (USD), which exerted downward pressure on the pair. Despite this, declining crude oil […]
NZD/USD Holds Near 0.5950 as Business NZ PSI Enters Contraction
NZD/USD Holds Near 0.5950 as Business NZ PSI Enters Contraction The NZD/USD has made a slight recovery from its five-month trough of 0.5927, observed on Monday, stabilizing around 0.5950 in the Asian trading session. This modest rebound occurs amidst a backdrop of economic concerns as New Zealand’s services sector reenters contraction territory. The Business NZ […]
Nvidia Shares Decline Amid Intensifying Competition in AI Chip Market
Nvidia Shares Decline Amid Intensifying Competition in AI Chip Market On Tuesday, Nvidia’s stock experienced a significant drop, declining by up to 5%, amid escalating competition in the artificial intelligence (AI) chip sector. This downturn in Nvidia’s market performance coincides with the unveiling of new, advanced AI chips by its competitors, signaling a more intense […]
AUD Holds Above Key Level, Anticipates RBA Bullock’s Speech
AUD Holds Above Key Level, Anticipates RBA Bullock’s Speech The Australian Dollar (AUD) has seen its value diminish for a second consecutive trading session on Monday, signaling a sustained bearish trend against its US counterpart. This downward trajectory has been influenced significantly by robust employment data emerging from the United States, which gave a considerable […]
EUR/USD Recovers Near 1.0760 Amid Strong US Dollar
EUR/USD Recovers Near 1.0760 Amid Strong US Dollar The currency pair EUR/USD has demonstrated a recovery, climbing back up to a rate hovering around 1.0760, following a dip to its three-week nadir of 1.0723 observed last Friday. The pair’s resurgence occurred during the Asian market session on Monday. This bounce-back was juxtaposed against the backdrop […]
AUD/JPY Falls to Three-Week Low, Below 97.00 Following RBA’s Rate Decision
AUD/JPY Falls to Three-Week Low, Below 97.00 Following RBA’s Rate Decision In the foreign exchange markets, the Australian Dollar (AUD) against the Japanese Yen (JPY) pair has experienced a significant downturn, reaching its lowest level in three weeks. This decline occurred in the aftermath of the Reserve Bank of Australia’s (RBA) recent rate decision. The […]
NZD/USD Downward Trend Continues, Eyes on US Economic Indicators
NZD/USD Downward Trend Continues, Eyes on US Economic Indicators The New Zealand dollar, commonly referred to as the Kiwi, has seen a continuous decline, intensifying its losses to approach a value of 0.5870 against the US dollar during the Asian market hours on Tuesday. This downturn, which initiated on the 6th of November, is largely […]
USD/JPY Nears Break Above 151.50 Amid Strengthening US Dollar
USD/JPY Nears Break Above 151.50 Amid Strengthening US Dollar The U.S. Dollar/Japanese Yen exchange rate has been exhibiting remarkable tenacity, consistently edging upwards for five consecutive days. As of the latest observations during the early trading hours in Europe on a Friday, the pair was quoted just shy of 151.50. This bullish trend has been […]
U.S. Dollar Index Nears the 106.00 Threshold Amid Economic Data and Federal Reserve Insights
U.S. Dollar Index Nears the 106.00 Threshold Amid Economic Data and Federal Reserve Insights The U.S. Dollar Index (DXY), a significant gauge of the dollar’s strength against a basket of currencies, is on the cusp of the notable 106.00 mark, showcasing a resilient recovery as the trading week concludes. With an optimistic lift in the […]
S&P 500 Futures Weaken as China’s Economic Concerns Resurface
S&P 500 Futures Weaken as China’s Economic Concerns Resurface Early Monday sees a subdued risk appetite as reports from China over the weekend cast further shadows on the world’s second-largest economy and the global economic landscape. Geopolitical tensions involving Russia and recent robust US data have also contributed to the prevailing sentiment, stoking fears of […]
What is PMI Index?
What is PMI Index? In forex trading, staying informed about market indicators is crucial for making well-informed trading decisions. Among these vital indicators, the Purchasing Managers’ Index (PMI) stands out as a key factor. Understanding the PMI index is paramount, especially for newcomers to the forex trading arena, as plays a pivotal role in guiding […]
With recovering oil prices and a struggling US Dollar, USD/CAD is declining towards 1.3200 before Canada’s PMI
With recovering oil prices and a struggling US Dollar, USD/CAD is declining towards 1.3200 before Canada’s PMI Amid the recovery in oil prices and ongoing struggles of the US Dollar, the USD/CAD pair is experiencing a downward trend, moving towards the 1.3200 mark ahead of the release of Canada’s PMI. The USD/CAD has slid to […]
Inflation and Recession Worries Take Center Stage This Week
Inflation and Recession Worries Take Center Stage This Week US The US Federal Reserve (Fed) is anticipated to end its rate-hiking campaign shortly. Attention will turn to Personal Consumption Expenditures (PCE) readings, hoping for a decline in inflation. A decrease in inflation may boost swap futures’ confidence in one more Fed rate hike. Wall Street […]
NZ Consumers Price Index
NZ Consumers Price Index Consumer prices rose 1.2% in the March quarter and are up 6.7% over the past year. The March result was below our forecast, and much lower than the RBNZ’s expectation. New Zealand consumer prices rose 1.2% in the March quarter, with prices up 6.7% over the past 12 months. Today’s result […]
EUR/USD struggles to reach yearly high ahead of NFP report
EUR/USD struggles to reach yearly high ahead of NFP report EUR/USD is struggling to test the yearly high (1.1033) as it fails to continue the series of higher highs and lows from the beginning of the week, and the U.S. labour market data (NFP) report may weigh on the exchange rate as employment is expected […]
Australian Dollar Dips After RBA Leave Rates Unchanged
Australian Dollar Dips After RBA Leave Rates Unchanged The Australian Dollar slipped slightly in the aftermath of the RBA standing still on rates for the first time since May 2022. The RBA maintained some flexibility and didn’t rule out future hikes. In the accompanying statement on monetary policy, they said, “The Board expects that some […]