Share: Indian Rupee holds positive ground despite the mild recovery of the USD. RBI’s Das said that India is one of the world’s fastest-growing major economies with a rising potential growth profile. The December’s US Chicago Purchasing Managers’ … [Continue reading]
USD/CAD digs in for a Thursday rebound from 1.3200
Share: USD/CAD bounced back from multi-month lows near 1.3200. CAD getting dragged down by a pullback in Crude Oil. Broad-market risk appetite sours after surprise bump in Treasury yields. The USD/CAD climbed back over the 1.3200 handle on … [Continue reading]
AUD/USD churns around 0.6850 heading into the year-end
Share: The Aussie sees some rough sideways action in year-end trading. Broad-market US Dollar sell-off flows keeping AUD/USD pinned near the top. US data dominates the docket to wrap up 2023. The AUD/USD briefly touched multi-month highs just … [Continue reading]
USD/CAD to fall to around 1.3% next year – SocGen
Share: If the US Dollar weakens in general, it is likely to do so against the CAD, too, economists at Société Générale report. Fed and BoC to ease monetary policy at a similar pace to each other The biggest drivers of USD/CAD will probably be the … [Continue reading]
EUR/CHF: Franc to retreat from multi-year highs against other G10 crosses – ANZ
Share: The Swiss Franc finishes 2023 as the top G10 performer. Economists at ANZ Bank analyze CHF outlook. Weaker EU growth is associated with a stronger CHF TWI on a broader time horizon We think the SNB will be less concerned with supporting CHF … [Continue reading]
Australian Dollar pulls back toward a major level ahead of US data releases
Share: Australian Dollar continues to reach fresh highs on the subdued US Dollar. Australian robust economic conditions influence the RBA to maintain its hawkish stance. China's NDRC's Chairman, Zheng Shanjie mentioned that China will strive to … [Continue reading]
EUR/USD holds above the 1.1100 mark, US Jobless Claims data eyed
Share: EUR/USD drifts higher to the highest since July above 1.1100 on Thursday. The evidence of cooling inflation helped to convince policymakers about the rate cuts next year. Lagarde added that the ECB should not lower the guard and central … [Continue reading]
Optimism Price Prediction: OP price could crash as $82 million worth of tokens due to flood markets
Share: Optimism price is up 94% in a week and could face a buy the rumor sell the fact event. OP could drop 25% as 24.16 million tokens worth $81.90 million are due to flood markets on December 30. A break and close above $4.500 level would create … [Continue reading]
Gold price eyes more upside as Fed rate-cut bets deepen
Share: Gold price is set to extend upside as the Fed is expected to cut rates sooner than anticipated. The core PCE price index declined more than expected to 3.2% in November. Action could be limited due to a thin-trading week. Gold price … [Continue reading]
USD/JPY faces pressure near 143.00 as Fed’s rate cut bets soar
Share: USD/JPY struggles for a firm recovery as the Fed is expected to start lowering interest rates in early 2024. The USD index refreshes five-month low amid risk-on mood. The BoJ will reduce bond-buying operations in 2024. The USD/JPY pair … [Continue reading]