New Zealand’s Q2 Retail Sales Beat Expectations, NZD/USD Falls to 0.5940 on Weak ex Autos Data
New Zealand’s Q2 Retail Sales Beat Expectations, NZD/USD Falls to 0.5940 on Weak ex Autos Data In the early hours of Wednesday, during the Asian trading session, Statistics New Zealand unveiled the Retail Sales data for the second quarter (Q2) of 2023, offering a snapshot of New Zealand’s economic landscape. The headline Retail Sales figures […]
Asia Stocks Slide on US Rate Hike, China Economic Concerns
Asia Stocks Slide on US Rate Hike, China Economic Concerns The Asian stock markets are grappling with substantial declines driven by a combination of factors, including heightened concerns over a US interest rate hike and the precarious state of China’s economic prospects. The confluence of these factors has set the stage for a notable selling […]
Stocks Dip on Fed Minutes Hinting at Potential Rate Hikes
Stocks Dip on Fed Minutes Hinting at Potential Rate Hikes On Wednesday, the stock market witnessed a noticeable decline in response to the Federal Reserve’s indication of potential rate hikes, prompting a reevaluation of investment strategies among traders and investors. The Dow Jones Industrial Average (^DJI) recorded a decrease of approximately 0.5%, equivalent to a […]
Asian Shares Fall on Bank Concerns and Chinese Economic Worries
Asian Shares Fall on Bank Concerns and Chinese Economic Worries Asian markets experienced declines on Wednesday due to concerns about the U.S. banking system’s performance, which triggered a slide on Wall Street. Simultaneously, worries about Chinese economic growth added to the downward trend in the region’s stock markets. Japan’s Nikkei 225 dropped 0.2% to 32,323.31 […]
WTI Reclaims $81.50 on Saudi Arabia, Russia Supply Tightening
WTI Reclaims $81.50 on Saudi Arabia, Russia Supply Tightening West Texas Intermediate (WTI) crude oil is currently experiencing a notable rebound, with prices hovering around $81.58. This is a substantial recovery from the weekly low of $74.45 registered last Thursday. The driving force behind this upward trend is primarily the strategic decisions made by Saudi […]
BOJ’s Policy Adjustment Indicates No Departure from Ultra-Low Rates – Deputy Governor
BOJ’s Policy Adjustment Indicates No Departure from Ultra-Low Rates – Deputy Governor The Bank of Japan (BOJ) recently made changes to its bond yield control policy with the intention of ensuring the sustainability of its massive stimulus, rather than signaling an exit from ultra-low interest rates, according to Deputy Governor Shinichi Uchida. On Wednesday, Uchida […]
Manufacturing Sector Activity in the US Remained Weak in July
Manufacturing Sector Activity in the US Remained Weak in July Manufacturing activity in the United States remained weak in July, as indicated by the July ISM Manufacturing Index, which recorded a reading of 46.4. Although this was a slight improvement from June’s reading of 46.0, it fell short of the market’s expectation for a stronger […]
The Dow futures remained unchanged, but Zoom witnessed a notable 17.1% drop
The Dow futures remained unchanged, but Zoom witnessed a notable 17.1% drop During Monday’s evening trading, U.S. stock futures experienced minimal movement, remaining within a narrow range, following moderate gains in major benchmark averages. Investors were focused on upcoming quarterly earnings reports scheduled for the week. By 7:15 pm ET (11:15 pm GMT), Dow Jones […]
EUR/JPY Rebounds from Intraday Low, Remains Steady Around 153.00 Level
EUR/JPY Rebounds from Intraday Low, Remains Steady Around 153.00 Level The EUR/JPY cross experienced a rollercoaster ride in the financial markets, starting with a brief bullish spike that pushed it towards the 155.00 region. However, this upward momentum was short-lived as the pair swiftly plummeted to its lowest level since mid-June. The culprit behind this […]
U.S. Stocks Rise as Market Awaits Fed Decision
U.S. Stocks Rise as Market Awaits Fed Decision On Tuesday, the U.S. stock market experienced a positive swing, with investors closely watching earnings reports and eagerly anticipating the outcome of the U.S. Federal Reserve’s interest rate decision. The Dow Jones Industrial Average, one of the key indices in the stock market, ended the day with […]
China to Boost Private Economy with New Measures, Officials Say
China to Boost Private Economy with New Measures, Officials Say Chinese officials have reaffirmed their commitment to revitalizing the private economy by implementing additional measures. This comes in response to the issuance of a guideline by the Communist Party of China Central Committee and the State Council, which focuses on promoting the growth of the […]
Asian markets mixed as Japan reports weak trade data
Asian markets mixed as Japan reports weak trade data Asian markets exhibited a varied performance in response to Japan’s disclosure of disappointing trade data for June. The revelation of a nearly 13% decline in imports from the previous year resulted in an unexpected trade surplus for Japan, primarily attributed to the reduction in oil prices. […]
Inflation hits 6% amid falling petrol prices and high-interest rates, despite sustained domestic inflation
Inflation hits 6% amid falling petrol prices and high-interest rates, despite sustained domestic inflation Inflation in New Zealand dropped to an annual rate of 6% in the June quarter. This decline was largely driven by high interest rates affecting household budgets and a decrease in petrol prices. However, domestic inflation remains stubbornly high, despite these […]
EUR/USD Volatility Rises Above 1.1200 Ahead of US Retail Sales
EUR/USD Volatility Rises Above 1.1200 Ahead of US Retail Sales As the anticipated US Retail Sales data for June looms, the EUR/USD pair has experienced a noticeable increase in volatility, crossing the significant 1.1200 threshold. This major currency pair has found a degree of stability as investors from around the globe eagerly await these crucial […]
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 […]
Mild Inflation and Robust Profits Drive Stock Market Surge
Mild Inflation and Robust Profits Drive Stock Market Surge US inflation news has been favorable this week, with data revealing a slowdown in both headline inflation at 3% and core inflation at 4.8%, both below expectations. Producer price inflation also came in lower than anticipated. These positive figures may be the last before they potentially […]
USD/CAD Hits New 3-Week High Above 1.3370 as Investors Eye Canada/US Job Data
USD/CAD Hits New 3-Week High Above 1.3370 as Investors Eye Canada/US Job Data The USD/CAD pair has recently reached a new three-week high, hitting 1.3375 during the London trading session. This rally of the Loonie asset comes in spite of the prevailing weakness in the US Dollar Index (DXY), rising oil prices, and the anticipated […]
China’s ability to implement monetary stimulus is limited as the yuan approaches a 15-year low
China’s ability to implement monetary stimulus is limited as the yuan approaches a 15-year low As China’s yuan edges closer to a 15-year low against the dollar, the country’s capacity to stimulate its struggling economy via monetary policies is increasingly constrained. In Shanghai, the yuan was trading at 7.244 against the dollar at the end […]