Welcome to Japan’s Groundhog Day: the Japanese Yen continues to severely underperform against major global currencies and remains close (again) to the 160.00 threshold against the US Dollar. Support from the Bank of Japan in the form of an interest … [Continue reading]
Indian Rupee flattens while recovery in oil prices dampens outlook
The Indian Rupee (INR) trades almost flat against the US Dollar (USD) in the opening session on Tuesday. The USD/INR pair flattens around 95.00, while the Indian Rupee’s outlook has become uncertain as oil prices have bounced back due to fresh … [Continue reading]
Euro posts modest gains above 1.1600, Middle East tensions curb upside
The EUR/USD pair posts modest gains around 1.1635 during the early Asian session on Tuesday. Nonetheless, the potential upside might be limited, as Iran announced a halt to US negotiations and a full closure of the Strait of Hormuz, which could … [Continue reading]
Carry trade: Selective opportunities as theory collides with practice – Commerzbank
Commerzbank’s Thu Lan Nguyen discusses the renewed popularity of FX carry trades as hopes grow for an end to the Middle East war. She stresses that long-run returns are not driven by interest differentials alone and warns that theory argues against … [Continue reading]
Euro: ECB seen acting as inflation risks rise – MUFG
Halpenny highlights that the ECB is widely expected to hike at its 11 June meeting, with markets focused on forward guidance for the Euro. He notes Isabel Schnabel’s warning that the ECB can no longer look through the energy shock and that rising … [Continue reading]
Gold Price Forecast: XAU/USD dives to $4,500 amid simmering tensions in Iran
Gold (XAU/USD) trades lower on Monday, reverting Friday’s gains and returning to the $4,500 atrea following rejection at the $4,590 resistance area. Precious metals remain weighed, as tensions between Iran and the US escalate and Israel ramps up … [Continue reading]
Sweden Manufacturing PMI increased to 57.3 in May from previous 57.2
Gold edges lower during the Asian session on Monday and moves further away from a two-week high, around the $4,600 neighborhood, touched on Friday. The US Dollar regains positive traction at the start of the new week amid persistent … [Continue reading]
51.8: China’s RatingDog Manufacturing PMI beats estimates in May
China's RatingDog Manufacturing Purchasing Managers' Index (PMI) declines to 51.8 in May from 52.2 in April the latest data published by RatingDog showed on Monday. The market forecast was for a 51.4 reading.AUD/USD reaction to China’s … [Continue reading]
China NBS Manufacturing PMI meets forecasts (50) in May
Mainstream adoption of Dogecoin could increase its real utility for everyday spending, according to Timothy Stebbing, director of the Dogecoin Foundation. Crypto projects need to deliver value to the next generation, aged around 15 or older, who will … [Continue reading]
China NBS Non-Manufacturing PMI came in at 50.1, above forecasts (49.5) in May
Mainstream adoption of Dogecoin could increase its real utility for everyday spending, according to Timothy Stebbing, director of the Dogecoin Foundation. Crypto projects need to deliver value to the next generation, aged around 15 or older, who will … [Continue reading]