Australian Dollar Drops on Weak Manufacturing PMI
Australian Dollar Drops on Weak Manufacturing PMI The Australian Dollar (AUD) may find some relief as the Caixin Manufacturing PMI from China increased to 51.8 in June, surpassing expectations of a decline to 51.2 from May’s 51.7. This unexpected boost in Chinese manufacturing activity is significant for Australia, given the close trade relationship between the […]
Japan’s Land Prices Rise at Fastest Pace Since 2010, Tax Agency Reports
Japan’s Land Prices Rise at Fastest Pace Since 2010, Tax Agency Reports In 2023, Japan’s land prices experienced their fastest rise since comparable data became available in 2010, as reported by the National Tax Agency on Monday. This increase highlights a robust recovery, driven in part by a resurgence in tourism following the coronavirus pandemic. […]
NZD/USD Reclaims 0.6100 Amid Weaker USD, Limited Upside
NZD/USD Reclaims 0.6100 Amid Weaker USD, Limited Upside The NZD/USD pair is experiencing some dip-buying during the Asian session on Monday, aiming to build on Friday’s modest bounce from the mid-0.6000s, its lowest level since mid-May. Currently, spot prices hover around the 0.6100 mark due to a modest weakening of the US Dollar (USD). However, […]
Pound Sterling Steady Ahead of US Core PCE Inflation Data
Pound Sterling Steady Ahead of US Core PCE Inflation Data The Pound Sterling (GBP) remains subdued against the US Dollar (USD) during Friday’s London session. The GBP/USD pair has edged down this week as investors exercise caution ahead of the US core Personal Consumption Expenditures (PCE) Price Index data for May, set to be released […]
Debate Highlights: Biden Struggles Against Trump on Economy
Debate Highlights: Biden Struggles Against Trump on Economy During the recent presidential debate, President Joe Biden struggled to demonstrate his readiness for a second term, faltering against former President Donald Trump. The debate was controlled and policy-focused, contrasting the 2020 debates’ outbursts and testy exchanges. Biden’s performance raised concerns about his age and mental acuity, […]
NZD/USD Nears Mid-0.6000s, Lowest Since Mid-May Ahead of US PCE
NZD/USD Nears Mid-0.6000s, Lowest Since Mid-May Ahead of US PCE The NZD/USD pair faces renewed selling pressure after a brief respite, plummeting to its lowest level since mid-May during the Asian session on Friday. Spot prices are currently trading just above the mid-0.6000s, down 0.35% for the day, confirming a bearish breakdown through the 50-day […]
WTI Falls Below $80 on Unexpected US Crude Stockpile Increase
WTI Falls Below $80 on Unexpected US Crude Stockpile Increase West Texas Intermediate (WTI) crude oil prices edged lower to around $80.30 during the Asian session on Thursday, retreating further from a two-month high of $81.65. This decline was primarily driven by a surprise increase in US crude stockpiles, which raised concerns about weakening demand […]
Yen Set for Major Swings Amid Intervention Threat, Charts Indicate
Yen Set for Major Swings Amid Intervention Threat, Charts Indicate The market is bracing for a significant increase in yen volatility as the currency slumps to its lowest level since 1986, raising concerns about potential Japanese intervention. Volatility spreads reveal that investors are demanding a premium to guard against sudden moves, bearish yen bets are […]
Australian Dollar Rises as Higher Inflation Lowers RBA Rate Cut Odds
Australian Dollar Rises as Higher Inflation Lowers RBA Rate Cut Odds The Australian Dollar (AUD) has gained traction following the release of May’s Monthly Consumer Price Index (CPI), which came in higher than expected. This persistently high inflation poses a challenge to the Reserve Bank of Australia’s (RBA) potential rate cuts, thereby providing support to […]
Economists Boost China Growth Forecasts Amid Improved Exports
Economists Boost China Growth Forecasts Amid Improved Exports The outlook for China’s exports is expected to improve, supporting growth in the world’s second-largest economy even as consumer spending slows, according to a Bloomberg survey of economists. Exports are forecasted to rise by 4.3% this year, up from a 2.8% gain predicted in May, based on […]
NZD/USD Drops to Near 0.6100 Amid Risk Aversion and Consumer Confidence Concerns
NZD/USD Drops to Near 0.6100 Amid Risk Aversion and Consumer Confidence Concerns The NZD/USD pair extends its losses for the second consecutive session, trading around 0.6110 during the Asian session on Wednesday. The New Zealand Dollar (NZD) is struggling, possibly due to rising risk aversion ahead of the ANZ-Roy Morgan Consumer Confidence data for June […]
Australian Dollar Falls Despite RBA’s Hawkish Outlook
Australian Dollar Falls Despite RBA’s Hawkish Outlook The Australian Dollar (AUD) continued its downward trend for the third consecutive session on Monday, yet there are indications that the decline in the AUD/USD exchange rate might be moderated by the monetary policy outlook from the Reserve Bank of Australia (RBA). During a recent press conference, as […]
Chinese Economy Poised for Growth Despite Challenges
Chinese Economy Poised for Growth Despite Challenges China’s economy is set to continue its growth trajectory this year, bolstered by significant untapped potential in rural consumption, manufacturing, and further economic liberalization, as reported by the World Economic Forum. Chen Liming, chair of Greater China at the WEF, highlighted China’s enduring strengths such as its vast […]
USD/CAD Nears 1.3700 as Fed Postpones Rate Cut
USD/CAD Nears 1.3700 as Fed Postpones Rate Cut The USD/CAD pair arrested a six-day downtrend, trading near the 1.3700 mark in Monday’s Asian trading session, buoyed by robust U.S. economic data from the previous Friday. The uplift in the U.S. Dollar (USD) was primarily due to an unexpectedly strong U.S. Purchasing Managers Index (PMI) report. […]
Australian Dollar Rises on Strong PMI Data and Softer US Dollar
Australian Dollar Rises on Strong PMI Data and Softer US Dollar The Australian Dollar (AUD) saw mild gains during Thursday’s Asian session, edging higher following the release of the Australian Judo Bank PMI report. The report indicated that business activity in Australia continues to grow, albeit at a slower pace than in March and April. […]
Australian Dollar Dips Amid Renewed US Dollar Demand
Australian Dollar Dips Amid Renewed US Dollar Demand On Thursday, the Australian Dollar (AUD) experienced losses, trading in negative territory. Despite this, the currency’s downside may be limited due to the hawkish stance taken by the Reserve Bank of Australia (RBA) during its June meeting earlier this week. The RBA’s firm approach suggests that they […]
Japan’s Insurers’ Yen Hedge Falls to Decade Low
Japan’s Insurers’ Yen Hedge Falls to Decade Low Japanese life insurers have significantly reduced their protection against a strengthening yen to the lowest level in a decade, and they may continue to cut these positions in the coming months. As of March 31, nine of Japan’s largest life insurers had only 47% of their foreign […]
Chinese Bond Market Heats Up: Firm Considers 50-Year Sale
Amid an unprecedented boom in bond issuance as borrowing costs plummet to record lows, a state-owned Chinese firm is contemplating an unprecedented offering of a 50-year note. This potential issuance would mark the nation’s longest corporate debt tenor if it comes to fruition. Wuxi Industry Development Group Co., which is owned by the Wuxi city […]