Share: The Australian Monthly Consumer Price Index rate is foreseen at 3.7% YoY in December. The Quarterly CPI inflation is expected to have eased further in the last quarter of 2023. The Australian Dollar is bearish ahead of inflation … [Continue reading]
AUD/USD Forecast: No changes to the consolidative theme
Share: AUD/USD keeps hovering in the sub-0.6600 zone. Retail Sales in Australia disappointed expectations. Investors’ attention now shifts to inflation figures. Once again, AUD/USD exhibited an erratic performance on Tuesday, remaining ensnared in … [Continue reading]
IMF revises global economic growth forecast for 2024 higher to 3.1% from 2.9%
Share: In its updated World Economic Outlook, the International Monetary Fund (IMF) announced that it revised the forecast for global economic growth in 2024 higher to 3.1% from 2.9% in October, per Reuters. IMF Chief Economist Pierre-Olivier … [Continue reading]
DXY can probably trade a 103.15-103.80 range heading into Wednesday’s FOMC meeting – ING
Share: The US Dollar Index (DXY) stays above 103.50. Economists at ING analyze Greenback’s outlook. Dollar to hold gains against European currencies over the coming days We expect the Dollar to hold gains against European currencies over the coming … [Continue reading]
EUR/USD Price Analysis: Hovers around 1.0830 after paring intraday gains
Share: EUR/USD could find immediate resistance around the major level at 1.0850. Technical analysis suggests that the pair could move toward psychological support at 1.0800. The break above the 14-day EMA at 1.0877 could lead the pair to approach … [Continue reading]
RBNZ’s Conway: Softer GDP and CPI data doesn’t mean the central bank will cut interest rates
Share: The Reserve Bank of New Zealand (RBNZ) Chief Economist Paul Conway said on Tuesday that the downward revisions to economic activity data does not mean less inflation pressure in the economy. Key quotes “Lower GDP indicates weaker … [Continue reading]
Forex Today: Data, FOMC should rule the sentiment
Share: Another firm session of the Greenback put the risk complex under further pressure, sending the USD Index (DXY) to flirt with the upper end of the recent range and EUR/USD to the sub-1.0800 region, all amidst the emergence of usual pre-FOMC … [Continue reading]
Gold price advances as Middle East tensions escalate, Fed policy eyed
Share: Gold price delivers strong upside move as geopolitical tensions deepen. Fed policy, labor market and Manufacturing PMI data for December will remain in the spotlight. The Fed is expected to keep interest rates unchanged for the fourth … [Continue reading]
Gold price soars amid geopolitical tensions, Fed policy eyed
Share: Gold price delivers strong upside move as geopolitical tensions deepen. Fed policy, labor market and Manufacturing PMI data for December will remain in the spotlight. The Fed is expected to keep interest rates unchanged for the fourth … [Continue reading]
Australian Dollar treads water below a psychological level despite a stable US Dollar
Share: Australian Dollar moves on an upward trajectory during a risk aversion sentiment. Australia's Retail Sales (MoM) is expected to decline by 0.7% in December from the previous growth of 2.0%. Middle East situation has escalated due to the … [Continue reading]