USD/CAD Drops as US Dollar Weakens and Oil Prices Fall
USD/CAD Drops as US Dollar Weakens and Oil Prices Fall The USD/CAD currency pair ended its five-day rally, settling at around 1.3820 during the Asian trading session on Wednesday. This shift was primarily due to a modest correction in the US Dollar (USD), which exerted downward pressure on the pair. Despite this, declining crude oil […]
WTI Drops to $84.70 Amid Gaza Ceasefire Talks, US CPI Data Anticipation
WTI Drops to $84.70 Amid Gaza Ceasefire Talks, US CPI Data Anticipation Western Texas Intermediate (WTI), the benchmark for US crude oil, is currently trading near $84.60, marking its fourth consecutive day in the red. This decline is influenced by a combination of factors including the build-up of US crude stocks and profit-taking activities. Market […]
Kishida of Japan Set to Dismiss Additional Officials Amid Scandal, Reports Asahi
Kishida of Japan Set to Dismiss Additional Officials Amid Scandal, Reports Asahi Japanese Prime Minister Fumio Kishida is preparing to dismiss up to 15 ministers and junior ministers amid a slush fund scandal, according to reports from the Asahi newspaper. This move aims to mitigate the impact of a crisis involving the concealment of political […]
UAE and China Renew $4.9 Billion Currency Swap Agreement
UAE and China Renew $4.9 Billion Currency Swap Agreement The United Arab Emirates (UAE) and the People’s Republic of China have reinforced their financial ties by renewing a substantial currency swap arrangement. On Tuesday, the Central Bank of the UAE and the People’s Bank of China ratified a continuation of their bilateral currency swap agreement. […]
Indian Stock Market Remains Steady as Adani and Energy Sector Gains Balance Out Decline in IT Shares
Indian Stock Market Remains Steady as Adani and Energy Sector Gains Balance Out Decline in IT Shares The Indian stock market showcased a balancing act on Tuesday, with stability being the theme of the day, as the gain in key players from the Adani Group and the broader energy sector managed to counterbalance the decline […]
Asian Markets Set to Reflect Downturn in US Indices Amid Hawkish Federal Reserve Outlook
Asian Markets Set to Reflect Downturn in US Indices Amid Hawkish Federal Reserve Outlook Asian stock markets are bracing for a potential downturn, shadowing the recent halt in the rally of US benchmarks. This shift in market sentiment is largely influenced by the Federal Reserve’s reaffirmed hawkish stance, as revealed in its latest meeting minutes. […]
EUR/USD Holds Steady Above 1.0900 Amid Mixed Market Signals
EUR/USD Holds Steady Above 1.0900 Amid Mixed Market Signals During Wednesday’s Asian trading session, the EUR/USD pair maintained its position above the 1.0900 mark, halting its previous day’s decline from a peak near 1.0965 – the highest since August 11. Currently hovering around 1.0915-1.0920, the pair shows a slight increase of under 0.10% for the […]
Steady Growth in Australian Employment Accompanied by a Slight Rise in Unemployment Rates
Steady Growth in Australian Employment Accompanied by a Slight Rise in Unemployment Rates Despite a stronger-than-anticipated surge in employment for October, Australia has seen a slight uptick in its unemployment rate, suggesting that the Reserve Bank of Australia (RBA) may need to implement further measures to temper demand and curb inflationary pressures. The Australian economy […]
GBP/USD Stabilizes Above 1.2400 Amid Mixed Market Signals
GBP/USD Stabilizes Above 1.2400 Amid Mixed Market Signals The GBP/USD currency pair exhibits a steady stance above the 1.2400 level, navigating through a complex landscape of market signals and economic indicators. This stability comes after the pair recoiled from a near two-month high around the 1.2500 mark, following a setback from the 100-day Simple Moving […]
GBP/JPY Nears Multi-Year Peak, Over 188 Before UK Inflation Data
GBP/JPY Nears Multi-Year Peak, Over 188 Before UK Inflation Data As the British Pound to Japanese Yen (GBP/JPY) exchange rate hovers around a significant peak, surpassing the 188.00 threshold, market participants are keenly awaiting the upcoming UK inflation data with a sense of cautious optimism. The currency pair has demonstrated a resilient uptrend, garnering buying […]
People’s Bank of China Announces Measures to Boost Economy
People’s Bank of China Announces Measures to Boost Economy China’s central bank, the People’s Bank of China (PBOC), is taking proactive steps to support the nation’s robust economic recovery, according to Pan Gongsheng, the PBOC’s governor. These measures include reducing financing costs, maintaining ample liquidity, and safeguarding financial stability. Addressing the Annual Conference of Financial […]
New Zealand’s Current Account Deficit Beats Economists’ Expectations
New Zealand’s Current Account Deficit Beats Economists’ Expectations New Zealand’s current account deficit has decreased by $1 billion during the June quarter, dropping to $6.7 billion from $7.7 billion in the previous three months, as reported by Statistics NZ. This deficit signifies that New Zealand is spending more than it is earning overseas. Before the […]
GBP/USD on Edge Before US Inflation Data and UK-China Sanctions
GBP/USD on Edge Before US Inflation Data and UK-China Sanctions GBP/USD remains cautious around 1.2715-20 ahead of Thursday’s London session, as investors tread carefully before the release of US inflation figures for July. Additionally, the Pound faces resistance due to reports of the UK considering restrictions on British investment in Chinese tech firms. Meanwhile, concerns […]
USD/CHF: Bears target mid-0.8900s as USD pulls back before inflation hints
USD/CHF: Bears target mid-0.8900s as USD pulls back before inflation hints During Monday’s European trading session, the USD/CHF currency pair is witnessing a downward trend, hovering around 0.8950, marking its first daily decrease in three days. This decline is primarily fueled by the US Dollar’s broad retreat and cautiously optimistic market sentiment. The US Dollar […]
US Dollar holds steady to start week, eyes on central bank speak
US Dollar holds steady to start week, eyes on central bank speak The US Dollar (USD) holds steady early Monday after having suffered large losses against its major rivals last week. Stock and bond markets in the US will be closed in observance of the Juneteenth holiday. The European economic docket will not be featuring […]
US PCE Deflators and Durable Goods Orders Scheduled
US PCE Deflators and Durable Goods Orders Scheduled UK bonds crashed for a second day straight with yields adding 10.6-19.2 bps across the curve. UK money markets discount an additional 100 bps tightening by December following the big upside CPI surprise Wednesday morning. Sterling initially revisited YtD highs but unable to force a break higher, […]
Constructive Developments for the Consumer
Constructive Developments for the Consumer Developments in Australia and the US this week were supportive of our views for the RBA and the FOMC. The Westpac- MI Consumer Confidence Survey provided a positive update on confidence. The RBA’s decision to leave the policy rate unchanged in April proved to be an important support, with the […]
Cautious Trade to start the week, EUR/AUD Focused
Cautious Trade to start the week, EUR/AUD Focused Australia’s ASX 200 index fell by -96.3 points and currently trades at 6,898.50. Japan’s Nikkei 225 index has fallen by -360.97 points and currently trades at 26,972.82. Hong Kong’s Hang Seng index has fallen by -534.15 points and currently trades at 18,984.44 China’s A50 index has fallen […]