EUR/USD Steadies Above 1.1000 Ahead of US Retail Sales Data
EUR/USD Steadies Above 1.1000 Ahead of US Retail Sales Data The EUR/USD pair is holding steady near 1.1010, consolidating its gains after pulling back from a recent seven-month high during the Asian session on Thursday. The Euro (EUR) strengthened against the US Dollar (USD) after the Eurozone’s second-quarter (Q2) Gross Domestic Product (GDP) growth met […]
5 Key Forex News Events You Should Follow
5 Key Forex News Events You Should Follow In the fast-paced world of currency markets, where significant movements can occur without warning, it’s crucial for new traders to understand the various economic indicators and forex news events that influence the markets. Quickly identifying which data to watch, understanding its implications, and learning how to trade […]
Asian Shares Rise, Kiwi Slumps as New Zealand Cuts Rates
Asian Shares Rise, Kiwi Slumps as New Zealand Cuts Rates Asian shares climbed on Wednesday following softer-than-expected U.S. producer price data, which bolstered hopes for mild consumer price inflation. Meanwhile, the New Zealand dollar (kiwi) tumbled after the Reserve Bank of New Zealand (RBNZ) cut interest rates for the first time since early 2020. European […]
EUR/USD Holds Below 1.1000 as Markets Await Eurozone GDP and US CPI Data
EUR/USD Holds Below 1.1000 as Markets Await Eurozone GDP and US CPI Data The EUR/USD pair is trading flat around 1.0990 during the early European session on Wednesday, as traders remain cautious ahead of the release of key economic data from both the Eurozone and the US. The focus is on the Eurozone’s Gross Domestic […]
Australian Dollar Declines as US Dollar Gains Strength Ahead of CPI Inflation Data
Australian Dollar Declines as US Dollar Gains Strength Ahead of CPI Inflation Data The Australian Dollar (AUD) has weakened against the US Dollar (USD) following an unexpected rate cut by the Reserve Bank of New Zealand (RBNZ) on Wednesday. The RBNZ reduced its Official Cash Rate (OCR) by 25 basis points to 5.25% from 5.50%. […]
Oil Retreats as Markets Shift Focus to Demand Concerns
Oil Retreats as Markets Shift Focus to Demand Concerns Oil prices declined on Tuesday, ending a five-day rally as the market shifted its focus back to concerns over demand, following OPEC’s recent downward revision of its 2024 demand growth forecast due to weaker expectations in China. Global benchmark Brent crude futures dropped by 57 cents, […]
Japanese Yen Holds Losses as US Dollar Stabilizes Ahead of Key Economic Data
Japanese Yen Holds Losses as US Dollar Stabilizes Ahead of Key Economic Data The Japanese Yen (JPY) continued its decline against the US Dollar (USD) on Tuesday, with safe-haven flows offering some support amid rising geopolitical tensions in the Middle East. Japan’s parliament is set to hold a special session on August 23 to discuss […]
USD/CAD Struggles to Gain Momentum Near 1.3750 Amid Rising Crude Oil Prices; Focus Shifts to US PPI Data
USD/CAD Struggles to Gain Momentum Near 1.3750 Amid Rising Crude Oil Prices; Focus Shifts to US PPI Data The USD/CAD pair is trading slightly stronger near 1.3740 during the Asian session on Tuesday, with traders largely adopting a cautious stance ahead of key US economic data releases. The US Producer Price Index (PPI) is the […]
Australian Dollar Advances as RBA Signals Potential Rate Hike
Australian Dollar Advances as RBA Signals Potential Rate Hike The Australian Dollar (AUD) rebounded against the US Dollar (USD) on Monday, driven by hawkish sentiment surrounding the Reserve Bank of Australia (RBA). Positive inflation data from China, a key trading partner, also provided support for the Aussie Dollar. RBA Governor Michele Bullock emphasized the importance […]
EUR/USD Appreciates Above 1.0900, Upside Limited by Middle East Tensions
EUR/USD Appreciates Above 1.0900, Upside Limited by Middle East Tensions The EUR/USD pair has broken its four-day losing streak, trading around 1.0920 during the Asian session on Monday. Traders are anticipating the preliminary Gross Domestic Product (GDP) data for the Eurozone’s second quarter, set for release on Wednesday. However, the Euro, being sensitive to risk, […]
What’s Moving Markets: US CPI, Retail Earnings, and UK Inflation
What’s Moving Markets: US CPI, Retail Earnings, and UK Inflation Wall Street is poised to start the week slightly higher as investors closely watch the latest inflation data, seeking confirmation that the Federal Reserve might begin cutting interest rates in September. While the quarterly earnings season is winding down, the retail sector will take center […]
EUR/USD Holds Steady Above 1.0900 After Breaking Losing Streak
EUR/USD Holds Steady Above 1.0900 After Breaking Losing Streak The EUR/USD pair managed to halt its three-day losing streak, trading around 1.0920 during the Asian session on Friday. The pair’s upward movement can be attributed to a weaker US Dollar (USD), driven by rising expectations of a dovish policy outlook from the US Federal Reserve […]
Gold Prices Slip as Recession Fears Diminish, Set for Weekly Losses
Gold Prices Slip as Recession Fears Diminish, Set for Weekly Losses Gold prices dipped in Asian trading on Friday, weighed down by positive U.S. labor data that boosted risk appetite and reduced demand for safe-haven assets. This decline put the yellow metal on track for weekly losses. In the industrial metals sector, copper prices also […]
Australian Dollar Appreciates Amid Hawkish Sentiment Surrounding RBA
Australian Dollar Appreciates Amid Hawkish Sentiment Surrounding RBA The Australian Dollar (AUD) strengthened against the US Dollar (USD) following comments from Reserve Bank of Australia (RBA) Governor Michele Bullock on Thursday. Bullock emphasized the need to remain vigilant about inflation risks, indicating the possibility of further rate hikes if necessary. She noted that inflation might […]
EUR/USD Strengthens Above 1.0900 Amid Softer US Dollar, Geopolitical Risks in Focus
EUR/USD Strengthens Above 1.0900 Amid Softer US Dollar, Geopolitical Risks in Focus The EUR/USD pair rebounds to around 1.0935 during Thursday’s Asian trading session, breaking a two-day losing streak. A weaker US Dollar (USD) supports the pair, although rising geopolitical risks may limit further gains. Market sentiment remains cautious, with attention on the upcoming US […]
Japanese Yen Weakens Amid Dovish Bank of Japan Stance
Japanese Yen Weakens Amid Dovish Bank of Japan Stance The Japanese Yen (JPY) continues to weaken against the US Dollar (USD) for the second consecutive day, largely due to dovish comments from Bank of Japan (BoJ) Deputy Governor Shinichi Uchida on Wednesday. According to Reuters, Uchida stated, “We won’t raise rates when markets are unstable,” […]
EUR/USD Continues to Decline Near 1.0900 Amid US Dollar Strength
EUR/USD Continues to Decline Near 1.0900 Amid US Dollar Strength The EUR/USD pair is trading lower around 1.0915 after pulling back from seven-month highs near 1.1008 during the Asian session on Wednesday. A stronger US Dollar (USD) is putting downward pressure on the pair. Investors are now looking ahead to Germany’s June Trade Balance and […]
Gold Price Stabilizes Amid Firm Fed Rate-Cut Bets and Middle East Conflicts
Gold Price Stabilizes Amid Firm Fed Rate-Cut Bets and Middle East Conflicts Gold (XAU/USD) has recovered to trade above $2,440 after dipping near $2,410 during Monday’s European session. The precious metal faced selling pressure as traders booked profits while it attempted to reclaim its all-time highs above $2,480. Despite this, the overall outlook for gold […]