Mexican Peso recovers slightly, breaking three-day losing streak. Mexico’s wider April trade deficit and slower economic growth are reported by INEGI. Banxico minutes show division on rate cuts amid ongoing inflation, emphasizing commitment to price stability. US Durable Goods Orders beat expectations, but March’s figures are revised down heavily. The Mexican Peso snapped three days […]
Share: Pound Sterling recovery faded as investors hope that Fed-BoE policy divergence will neutralize this month. United Kingdom’s housing sector and factory activities are under pressure due to higher interest rates. BoE’s Broadbent warned that interest rates will remain higher for a longer period. The Pound Sterling (GBP) recovery faltered on Tuesday despite hopes that an […]
Share: US Dollar price action rallies with several BRIC countries coming out in favor of the Greenback. Fed members repeat the same message, foreshadowing an unchanged message from Powell at Jackson Hole on Friday. The US Dollar Index strengthens as hope dampens for any near-term rate cuts. The US Dollar (USD) is being […]
Share: Euro surrenders its initial advance to 1.0930 vs. the US Dollar. Stocks in Europe maintain daily gains in place on Tuesday. EUR/USD comes under pressure following a test of 1.0930. The USD Index (DXY) reverses the initial drop to the 103.00 region. EMU Current Account surplus widens in June. Fedspeak and housing data […]
Share: Pound Sterling moves higher above 1.2750 as the focus shifts to UK consumer spending data. UK’s strong wage growth and sticky core inflation elevate hawkish BoE bets. Rishi Sunak’s promise of halving inflation to 5% seems uncertain. The Pound Sterling (GBP) comes out of the woods and refreshes weekly high due to expectations of more […]
Share: Gold price demonstrates a weak performance amid strength in the US Dollar. United States inflation grew at a 0.2% steady pace in July amid higher rentals. The Fed is expected to keep interest rates unchanged in September. Gold price (XAU/USD) continues its bleak performance amid headwinds of a strong US Dollar and […]
Share: Gold price seems fragile above $1,930.00 as the US labor market remains resilient while wage growth slows. Janet Yellen calls Fitch’s downgrade to US government long-term credit rating ‘entirely unwarranted’. Investors await US Services PMI, monthly Factory Orders, and weekly jobless claims data. Gold price (XAU/USD) looks supported above the immediate support […]
The Reserve Bank of Australia (RBA) board members decided to make no changes to the Official Cash Rate (OCR), leaving it at 4.10% at its August monetary policy meeting. developing story … In a knee-jerk reaction to the RBA decision, the AUD/USD pair dropped over 40 pips to test 0.6660. The pair is down 0.70% on the […]
Share: Federal Reserve is widely expected to raise its policy rate by 25 bps to 5.25-5.50%. Fed has been struggling to convince markets that they will raise rates at least twice more this year. US Dollar valuation could be significantly impacted by Chairman Powell’s comments. The Federal Reserve (Fed) is expected to raise […]
Euro now points to a test of 1.1100
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Share: Euro remains under pressure near 1.1100 against the US Dollar. Stocks in Europe closed mostly with gains on Friday. EUR/USD risks further pullbacks in the short-term horizon. US, Eurozone economic calendars are empty at the end of the week. The Euro (EUR) extends the bearish performance against the US Dollar (USD) at the end of the week, […]
Share: Consumer Price Index in the US is forecast to rise 3.1% in June, down sharply from the 4% increase recorded in May. Core CPI inflation is foreseen at 5% YoY in June, compared to 5.3% in May. US CPI inflation report is set to influence the Fed’s rate outlook and the US […]
Share: Euro meets daily support in the 1.0870/65 band vs. the US Dollar. Stocks in Europe reverse earlier losses on Friday. EUR/USD falters once again around the 1.0900 region. US jobs report takes centre stage later in the session. ECB’s Christine Lagarde speaks later in the day. The Euro (EUR) struggled once again to breach the […]
