Australian Dollar Stabilizes Post-Inflation Data, US Dollar Stays Strong
Australian Dollar Stabilizes Post-Inflation Data, US Dollar Stays Strong The Australian Dollar (AUD) recovered some of its earlier losses on Wednesday following the release of the higher-than-expected Monthly Consumer Price Index (CPI). This robust inflation data has fueled speculation that the Reserve Bank of Australia (RBA) might consider another interest rate hike. The minutes from […]
Yuan Falls to Lowest Level Since November as China Permits Declines
Yuan Falls to Lowest Level Since November as China Permits Declines China’s onshore yuan dropped to its weakest level since November, signaling that policymakers are gradually allowing the currency to decline against a resilient US dollar. The yuan fell to as low as 7.2487 per dollar as the People’s Bank of China (PBOC) gradually reduced […]
USD/CAD Rises to 1.3650 Amid Decline in Oil Prices
USD/CAD Rises to 1.3650 Amid Decline in Oil Prices The USD/CAD pair has edged higher for the second consecutive day, trading around 1.3650 during Asian hours on Wednesday. This upward movement is driven primarily by a growing sense of risk aversion among investors, which is bolstering demand for the US Dollar (USD) and, in turn, […]