Here is what you need to know on Tuesday, October 29: Financial markets seem to have adopted a cautious tone following Monday’s choppy action. The US economic calendar will feature Goods Trade Balance and JOLTS Job Openings data for September, alongside the Conference Board’s Consumer Confidence Index for October. Investors refrain from taking large positions […]
NZD/USD retreats further, dropping below 0.6000. Oversold RSI points to possible corrective bounce, but bearish momentum remains strong. The pair stands in lows since early August. The NZD/USD currency pair has extended its downtrend, with bears maintaining a firm grip as selling momentum builds. During Friday’s session, the pair fell by 0.60% to 0.5980, hitting […]
The Australian Dollar loses ground despite the hawkish RBA’s policy outlook. The AUD inches lower as the US Dollar appreciates amid less-dovish sentiment surrounding the Fed. CME FedWatch Tool suggests a 97% chance of a 25-basis-point rate cut by the Fed in November. The Australian Dollar (AUD) edged lower against the US Dollar (USD) on […]
The Australian Dollar remains stronger after the release of Purchasing Managers Index data on Thursday. Australia’s Judo Bank Services PMI inched up to 50.6 in October, marking its ninth consecutive month of expansion. Fed Beige Book report indicated that economic activity was “little changed in nearly all Districts.” The Australian Dollar (AUD) edges higher against […]
The Australian Dollar appreciates following the PBoC’s rate cuts on Monday. The PBoC has reduced the 1- and 5-year Loan Prime Rates to 3.10% and 3.60%, respectively. The Aussie Dollar appreciated as domestic upbeat labor data has lowered the odds of a RBA’s rate cut this year. The Australian Dollar (AUD) extended its winning streak […]
The USD/CAD pair may find the barrier around the upper boundary of the ascending channel at the 1.3870 level. The 14-day RSI signals an overbought condition, suggesting that a potential downward correction could be on the horizon. Potential support appears at the lower boundary of the ascending channel around the 1.3770 level. USD/CAD continues its […]
The Australian Dollar depreciated as China’s fiscal stimulus plan failed to boost the market sentiment. The ANZ-Roy Morgan Consumer Confidence index remained steady at 83.4 this week. The US Dollar receives support from the fading likelihood of further bumper rate cuts by the Fed. The Australian Dollar (AUD) remains subdued against the US Dollar (USD) […]
The Australian Dollar remains under selling pressure in Thursday’s Asian session. The firmer USD and lack of further China’s stimulus measures drag the pair lower. The US CPI inflation data will be in the spotlight on Thursday. The Australian Dollar (AUD) extends its decline on Thursday. The stronger US Dollar (USD) amid rising speculation of […]
The Japanese Yen appreciates as the US Dollar remains tepid ahead of the US labor data release on Friday. Japan’s Economy Minister Akazawa stated that the timing of any monetary policy changes is crucial Traders await Friday’s US employment data, including Nonfarm Payrolls (NFP) and Average Hourly Earnings, for further direction. The Japanese Yen (JPY) […]
The Japanese Yen loses ground as the BoJ’s Summary of Opinions signals its intention to maintain an accommodative monetary stance. The JPY struggled as Japan’s upcoming PM Ishiba stated the need to maintain low rates to help economic recovery. The US Dollar receives support as traders adopt caution amid rising geopolitical tension in the Middle […]
NZD/USD loses ground near 0.6340 in Tuesday’s early Asian session. Fed’s Powell said the central bank is not in a hurry to cut rates quickly, will be guided by data. The Chinese fresh stimulus measure might cap the downside for the Kiwi. The NZD/USD pair trades on a softer note around 0.6340, snapping the three-day […]
The NZD/USD climbed to fresh highs since December. The RSI stands deep in positive area and the MACD shows rising green bars supporting an overall bullish outlook. If the bulls fail to conquer 0.6400, it might trigger a downward correction. On Friday, the NZD/USD pair continued its ascent from Thursday, adding 0.20%, reaching 0.6354 and […]
