Share: EUR/USD steadily climbs back to over a two-week high touched on Wednesday amid a softer USD. Expectations that the Fed is nearing the end of its rate-hiking cycle continue to undermine the buck. Bulls now seem reluctant and keenly await the … [Continue reading]
PBoC sets USD/CNY reference rate at 7.1776 vs. 7.1779 previous
Share: The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1776 as compared to the previous day's fix of 7.1779 and 7.2932 Reuters estimate. Source … [Continue reading]
Sam Bankman-Fried conspired to keep Bitcoin price under $20,000, day six revelations from Caroline Ellison
Share: Ex-Alameda Research CEO revealed that Sam Bankman-Fried conspired to keep Bitcoin price below $20,000 by selling customer BTC. SBF also directed the hedge fund to dump BTC acquired from FTX customer funds to stabilize prices. Ellison also … [Continue reading]
NZD/USD pulls back from weekly highs amid mixed US inflation data, dovish Fed remarks
Share: NZD/USD recoils to 0.6021 after reaching a weekly peak, influenced by a strengthening USD. US PPI data exceeds expectations, introducing a complex layer to the ongoing inflation dialogue. Contrasting stances among Fed officials and RBNZ’s … [Continue reading]
Hungary: Rate cuts by the MNB appear unlikely this year – UOB
Share: Antje Praefcke, FX Analyst at Commerzbank, assesses the central bank’s (MNB) monetary policy prospects for the remainder of the year. Key Takeaways The Hungarian central bank (MNB) on the other hand has no scope for key rate cuts in the near … [Continue reading]
Forex Today: US Dollar on the back foot ahead of PPI data, Fedspeak
Share: Here is what you need to know on Wednesday, October 11: The US Dollar (USD) continued to weaken against its rivals on Tuesday, with the US Dollar Index closing the fifth straight day in negative territory. Producer Price Index (PPI) data for … [Continue reading]
Gold price consolidates its recent recovery gains; US PPI and FOMC minutes awaited
Gold price extends its consolidative price move through the Asian session on Wednesday. Reduced bets for more rate hikes by the Fed and geopolitical tensions lend some support. Investors await fresh cues about the Fed’s rate-hike path before placing … [Continue reading]
S&P 500 settles Tuesday at $4,357 as investors hope for a receding Fed
Share: US equities saw mild lift on Tuesday, with broader indexes rising across the board. Investors are leaning into expectations of no more rate hikes from the Fed. With US inflation figures due later this week, investors will get the chance to … [Continue reading]
USD/CHF continues consolidating, loses the 20-day SMA
Share: USD/CHF declined towards 0.9040, consolidating below the 20-day SMA. Federal Reserve officials will be on the wires later in the session. FOMC minutes on Wednesday and CPI figures from September from the US the next week … [Continue reading]
EUR/USD Price Analysis: Extra gains need to clear 1.0620
Share: EUR/USD revisits the area above 1.0600 once again on Tuesday. The continuation of the rebound should target the 1.0620 area. EUR/USD regains composure following Monday’s pessimism and breaks above the 1.0600 hurdle. In case bulls regain the … [Continue reading]