Share: USD/JPY pair reaches a 10-month high of 147.70, driven by risk aversion and a surge in US 10-year Treasury bond yields to 4.261%. Despite positive business activity data from Japan, the Yen remains weak as China’s lower-than-expected Caixin … [Continue reading]
India: GDP surprised to the upside – UOB
Share: Suan Teck Kin, CFA, Head of Research at UOB Group, reviews the latest GDP figures in India. Key Takeaways India’s real GDP in the first quarter of FY23-24 (Apr-Jun quarter) expanded 7.8% y/y, the strongest in 4 quarters, accelerating from … [Continue reading]
AUD/USD Outlook: Post-RBA slump below 0.6400 confirms bearish flag pattern breakdown
Share: AUD/USD plummets below 0.6400 on Tuesday and is pressured by a combination of factors. The disappointing Chinese PMI and RBA's on-hold decision drive flows away from the Aussie. Bets for one more Fed rate hike in 2023 underpin the USD and … [Continue reading]
NZ FinMin Robertson defends RBNZ’s dual mandate
Share: Speaking at an event in Wellington on Tuesday, New Zealand Finance Minister Grant Robertson voiced his support for the Reserve Bank of New Zealand’s (RBNZ) dual mandate. Key quotes Central bank’s dual mandate as “normal” and not … [Continue reading]
South Korea FX Reserves fell from previous 421.8B to 418.3B in August
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
USD/MXN extends gains after Banxico’s slash currency hedge program, back above 17.1500
Share: Banxico’s decision to reduce its currency hedging program sends the pair higher. US Nonfarm Payrolls beat expectations but rising Unemployment Rate stalls USD rally. Cleveland’s Fed President Loretta Mester remains hawkish on US interest … [Continue reading]
USD/CAD consolidates around 1.3600, investors sidelined ahead of BoC monetary policy
Share: USD/CAD remains sideways around 1.3600 as the US and Canadian markets will remain closed on Monday on account of Labor Day. The US Dollar maintains its bullish mainstay as job growth remained steady in August. The BoC is expected to keep … [Continue reading]
Silver Price Analysis: XAG/USD hits one-week low, manages to hold above $24.00 mark
Share: Silver edges lower for the fourth successive day and touches a one-week low on Monday. The mixed oscillators on hourly/daily charts warrant caution before placing directional bets. A sustained move beyond the $25.00 mark will be seen as a … [Continue reading]
NZD/USD sticks to modest gains around mid-0.5900s, upside potential seems limited
Share: NZD/USD regains positive traction on Monday and is supported by subdued USD price action. The upbeat market mood undermines the safe-haven buck and benefits the risk-sensitive Kiwi. Bets that the Fed will keep rates higher for longer help … [Continue reading]
US Commerce Secretary Raimondo: Patience of US business is wearing thin, China is making it more difficult
Share: "China is making it more difficult," Raimondo told CBS's Face the Nation per Reuters. The policymaker also added that she was very clear with China that they need it as patience is wearing thin among American businesses. US Commerce Secretary … [Continue reading]