Japanese Yen Nears Record Low Against USD, Remains Vulnerable
Japanese Yen Nears Record Low Against USD, Remains Vulnerable The Japanese Yen (JPY) is continuing to struggle against the US Dollar (USD), staying near a 34-year low during Tuesday’s Asian trading session. This persistent weakness is linked closely to expectations around interest rates set by the central banks of Japan and the United States. The […]
Gold Price Nears Record High, Despite Strong USD as Potential Obstacle
Gold Price Nears Record High, Despite Strong USD as Potential Obstacle The Gold price (XAU/USD) continues to experience a notable uptrend, recording gains for the sixth consecutive day on Tuesday. This steady ascent brings it tantalizingly close to the all-time high it achieved the day before. The price movement of this precious metal, traditionally viewed […]
USD/CAD Nears Two-Week High, Oil Price Surge May Limit Gains Before US Data
USD/CAD Nears Two-Week High, Oil Price Surge May Limit Gains Before US Data The USD/CAD currency pair has been on a rising trend for the fourth consecutive day, reaching a near two-week peak around the 1.3545 mark during the Asian trading session on Wednesday. This upward movement is largely driven by an increased demand for […]
GBP/USD sees buying interest above mid-1.2500s before UK job, US inflation data
GBP/USD sees buying interest above mid-1.2500s before UK job, US inflation data The GBP/USD currency pair, representing the exchange rate between the British Pound and the US Dollar, is showing signs of recovery in the early Asian trading session on Tuesday. This resurgence comes as the pair trades around 1.2565, marking a modest gain of […]
Australian Dollar Gains Momentum Amid Weakening US Dollar
Australian Dollar Gains Momentum Amid Weakening US Dollar The Australian Dollar (AUD) continues its upward trajectory, marking its third consecutive day of gains on Monday. This rise comes after the AUD rebounded from its annual lows, primarily driven by the underperformance of the US Dollar (USD). The weakening of the USD is in response to […]
Asian Equities Experience Uptick Amid US Bond Yield Dip and China’s Economic Stimulus Plans
Asian Equities Experience Uptick Amid US Bond Yield Dip and China’s Economic Stimulus Plans On Friday, the majority of Asian stock markets displayed promising signs of positive trading. A noteworthy factor in this uptick has been the declining US Treasury bond yield, which bolstered regional stocks as investors keenly awaited the release of the US […]
Gold Awaits US PPI and FOMC Minutes, Lacks Momentum
Gold Awaits US PPI and FOMC Minutes, Lacks Momentum On Tuesday, the Gold price (XAU/USD) remained in a narrow trading range, consolidating its rebound from a seven-month low around $1,810. It maintained a position just above the $1,850 level, lacking significant directional momentum as traders awaited fresh signals regarding the Federal Reserve’s intentions regarding rate […]
Gold Maintains One-Week High Amid Israel-Palestinian Conflict Gains
Gold Maintains One-Week High Amid Israel-Palestinian Conflict Gains The gold market has experienced a week of consistent gains, with prices holding steady above the $1,860 mark. These gains are primarily attributed to the ongoing geopolitical tensions between Israel and Palestine, which have heightened global risk sentiment. Investors seeking a safe haven have turned to the […]
EUR/USD Stays Defensive Below 1.1000, Vulnerable Amid Modest USD Strength
EUR/USD Stays Defensive Below 1.1000, Vulnerable Amid Modest USD Strength At the start of the new trading week, the EUR/USD pair encountered notable selling pressure, leading to a retracement from its recent peak near the 1.1040 level. During the Asian session, spot prices slipped below the psychologically significant 1.1000 mark, temporarily disrupting the two-day recovery […]
FOMC Adopts Flexible Policy Assessment, Meeting by Meeting
FOMC Adopts Flexible Policy Assessment, Meeting by Meeting In response to the complex challenges and uncertainties tied to balancing potential inflationary pressures against notable risks to economic expansion, the Federal Open Market Committee (FOMC) has adopted a flexible approach. The monetary policymaking body of the Federal Reserve System will now assess its policy on a […]
AUD/USD Gains Momentum Above 0.6800 Amid Weakening USD
AUD/USD Gains Momentum Above 0.6800 Amid Weakening USD The AUD/USD currency pair demonstrated considerable strength during Thursday’s Asian trading session, surpassing the key 0.6800 level. This significant surge was largely driven by a weakening US Dollar, pushing the major pair to trade around 0.6807, marking a day’s gain of 0.75%. This movement exhibits the dynamic […]
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 […]
Challenges Remain Despite Significant Progress in US Inflation
Challenges Remain Despite Significant Progress in US Inflation Headline inflation has reduced to a fraction of its peak, yet the contribution from shelter alone exceeds the Federal Open Market Committee’s (FOMC) annual target of 2.0%. In June, both headline and core Consumer Price Index (CPI) outcomes fell short of expectations at 0.2%, resulting in respective […]
USD/CHF modestly gains near 50-DMA, bulls eyeing a move above 0.9000
USD/CHF modestly gains near 50-DMA, bulls eyeing a move above 0.9000 The USD/CHF pair has been modestly gaining near the 50-day Simple Moving Average (SMA), with traders watching closely for a move above the significant 0.9000 level. This comes as the pair has continued to trade positively for the fourth day in a row. However, […]
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, […]
DXY Falls Under 103.00 Amid Varied Sentiment, Anticipates Fed Minutes, US NFP
DXY Falls Under 103.00 Amid Varied Sentiment, Anticipates Fed Minutes, US NFP The US Dollar Index (DXY), a measure of the US dollar’s strength against a group of other major currencies, has seen a significant drop, touching an intraday low of around 102.90. This downward shift continues the retreat from a three-week high observed the […]
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 […]
Today’s FOMC Will be a Key Focus for China and Hong Kong Stocks
Today’s FOMC Will be a Key Focus for China and Hong Kong Stocks China proxies; Hang Seng Index, Hang Seng TECH, and Hang Seng China Enterprises have outperformed S&P 500 & MSCI All Country Asia ex Japan since 31 May. This outperformance has been reinforced by more impending monetary policy easing measures from China’s central […]