US Dollar Dips Under Key Support Level
US Dollar Dips Under Key Support Level The financial week started on a cautiously optimistic note, with European and US stocks registering slight increases. However, investor sentiment was somewhat dampened by the announcement of stricter capital requirements for US banks. This news impacted the performance of several mega-cap companies, with tech giants such as Tesla […]
US Dollar Index: DXY surpasses 103.00 amid Fed forecasts and China Concerns pre-US data
US Dollar Index: DXY surpasses 103.00 amid Fed forecasts and China Concerns pre-US data The US Dollar Index (DXY) oscillates near a weekly high of around 103.40, as market participants anticipate key US data and risk factors that could sustain the bullish trend of the DXY during Thursday’s early Asian session. The index maintains its […]
GBP/USD Holds Above Mid-1.2700s, Lacks Intraday Trend Before BoE Decision
GBP/USD Holds Above Mid-1.2700s, Lacks Intraday Trend Before BoE Decision During Thursday’s Asian session, the GBP/USD pair is confined to a tight range above the mid-1.2700s as traders anticipate the Bank of England (BoE) policy decision. The pair’s movement remains relatively stagnant on the day, with market participants holding off on further trades until the […]
RBA Minutes Less Hawkish Than Expected, For Now
RBA Minutes Less Hawkish Than Expected, For Now The Board sees increased inflation risks while recognizing prospect of weakening economy. And rising unemployment rate. The Minutes from the Reserve Bank Board’s meeting in June provide a more balanced approach to the outlook for rates than we saw in the Governor’s statement following the decision to […]
Dollar in demand as modest China rate cut hits sentiment
Dollar in demand as modest China rate cut hits sentiment The U.S. dollar gained in early European trade Tuesday, with this safe haven in demand as a rate cut by China’s central bank failed to assuage investor concerns over slowing economic growth. At 01:55 ET (05:55 GMT), the Dollar Index, which tracks the greenback against […]
FOMC Skips June, But Signals Hikes Not Done Yet
FOMC Skips June, But Signals Hikes Not Done Yet As widely expected, the FOMC decided unanimously to refrain from raising rates at today’s meeting. However, the Committee continued to say that “additional policy firming” may be appropriate. Furthermore, the median dot for 2023 shifted up by 50 bps. That is, most FOMC members believe that […]
Dollar surges after Fed signals more rate hikes ahead
Dollar surges after Fed signals more rate hikes ahead The U.S. dollar rallied in early European trade Thursday, boosted by the Federal Reserve’s hawkish projection of more tightening this year, while the euro weakened ahead of the latest European Central Bank policy meeting. At 02:05 ET (06:05 GMT), the Dollar Index, which tracks the greenback […]
USD/CAD at Risk on Hawkish BoC but Fed May Be a Spoiler
USD/CAD at Risk on Hawkish BoC but Fed May Be a Spoiler The Canadian dollar has appreciated sharply against the U.S. dollar since late May. The chart below shows how USD/CAD has fallen more than 2.0% over the past two weeks, with the pair now trading near C$1.3350 and steadily approaching its 2023 lows. Bank […]
Asia Shows its Strength as US Growth Prospects Dwindle
Asia Shows its Strength as US Growth Prospects Dwindle In Australia, the RBA was the focus of market participants’ attention. Outside the country, the RBNZ reaffirmed its hawkish resolve, while U.S. data weakened noticeably. The RBA decided to leave the key interest rate unchanged at 3.60% in April, a decision that was in line with […]
GBP/USD: Pound Counts on the Best.
GBP/USD: Pound Counts on the Best. As in the US, retail sales in the UK also went down. They fell -1.0% in December, which is significantly lower than the forecast +0.5%. Analysts note that real spending in the country was significantly ahead of GDP in 2020-2022, but the rise in inflation led to a sharp […]
Upcoming Market Updates: JPY, EUR, GBP, USD, CAD
Upcoming Market Updates: JPY, EUR, GBP, USD, CAD JPY: Monetary Base y/y, it measures Change in the total quantity of domestic currency in circulation and current account deposits held at the BOJ. JPY: 10-y Bond Auction, it measures Average yield on 10-year bonds the government sold at auction, and the bid-to-cover ratio of the auction. […]
Upcoming Market Updates: AUD, NZD, EUR, GBP, CAD, USD
[vc_row full_width=”stretch_row”][vc_column][vc_column_text] Upcoming Market Updates: AUD, NZD, EUR, GBP, CAD, USD AUD: MI Inflation Gauge m/m, it measures Change in the price of goods and services purchased by consumers. NZD: ANZ Commodity Prices m/m, it measures Change in the global price of exported commodities. AUD: ANZ Job Advertisements m/m, it measures Change in the number […]
FOMC Minutes, Fed Hiking Rates slowly
[vc_row full_width=”stretch_row”][vc_column][vc_column_text] FOMC Minutes, Fed Hiking Rates slowly At the November 2nd FOMC meeting, members unanimously agreed to hike the Fed Funds rate by 75bps to bring the key rate to 3.75%-4.0%.The statement from the meeting said members agreed that ongoing rate hikes were necessary until rates were “sufficiently restrictive”. In addition, the statement noted […]
Upcoming Market Updates: AUD, NZD, EUR, GBP, CAD, USD
[vc_row full_width=”stretch_row”][vc_column][vc_column_text] Upcoming Market Updates: AUD, NZD, EUR, GBP, CAD, USD AUD: Flash Manufacturing PMI, it measures Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry. AUD: Flash Services PMI, it measures Level of a diffusion index based on surveyed purchasing managers in the services industry. NZD: Official Cash Rate, […]
Upcoming Market Updates: JPY, AUD, GBP, EUR, CAD, USD
[vc_row full_width=”stretch_row”][vc_column][vc_column_text] Upcoming Market Updates: JPY, AUD, GBP, EUR, CAD, USD JPY: BOJ Core CPI y/y, it measures Change in the price of goods and services purchased by consumers, excluding food and energy. AUD: RBA Gov Lowe Speaks, As head of the central bank, which controls short term interest rates, he has more influence over […]
Upcoming Market Updates: JPY, AUD, EUR, GBP, CHF, CAD, NZD
[vc_row full_width=”stretch_row”][vc_column][vc_column_text] Upcoming Market Updates: JPY, AUD, EUR, GBP, CHF, CAD, NZD JPY: Final Manufacturing PMI, it measures Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry. AUD: Cash Rate, it measures Interest rate charged on overnight loans between financial intermediaries. AUD: RBA Rate Statement, It’s among the primary tools […]
Upcoming Market Updates: JPY, AUD, EUR, CHF, CAD, USD
[vc_row full_width=”stretch_row”][vc_column][vc_column_text] Upcoming Market Updates: JPY, AUD, EUR, CHF, CAD, USD JPY: Tokyo Core CPI y/y, it measures Change in the price of goods and services purchased by consumers in Tokyo, excluding fresh food. JPY: Unemployment Rate, it measures Percentage of the total work force that is unemployed and actively seeking employment during the previous […]
Upcoming Market Updates: USD, JPY, AUD, CHF, EUR
Upcoming Market Updates: USD, JPY, AUD, CHF, EUR USD: FOMC Member Bullard Speaks, Federal Reserve FOMC members vote on where to set the nation’s key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy. JPY: Trade Balance, Export demand and currency demand are directly linked because foreigners […]