Share: People’s Bank of China (PBoC) set the USD/CNY central rate at 7.1886 on Thursday, versus the previous fix of 7.1988 and market expectations of 7.2791. It's worth noting that the USD/CNY closed near 7.2790 the previous day. … [Continue reading]
Dogecoin price edges north, shows short-term bullish momentum after Elon Musk says X is a DOGE friendly space
Share: Dogecoin price is nurturing an uptrend despite broader market gloom after the recent 15% crash in Bitcoin price. DOGE could rise above the early July highs at around the $0.07000 level, potentially tagging the $0.07303 - $0.07689 order … [Continue reading]
AUD/USD rises past 0.6450 amid USD weakness
Share: AUD/USD sets a third consecutive day of gains, rising more than 0.60% towards 0.6470. PMIs from August from the US and Australia came in lower than expected. Dovish bets on the Fed are applying pressure on the USD. The AUD/USD gained … [Continue reading]
There may be constraints on the USD rebound extending further ahead Jackson Hole – Scotiabank
Share: The USD is trading mixed versus the majors. Economists at Scotiabank analyze Greenback’s outlook. Narrower spreads should help check the USD advance The undertone remains constructive on the face of it but there may be constraints on the USD … [Continue reading]
Germany HCOB Services PMI below expectations (51.5) in August: Actual (47.3)
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]
AUD/USD flirts with multi-day peak, around mid-0.6400s amid modest USD downtick
Share: AUD/USD gains some follow-through positive traction and draws support from a softer USD. The intraday uptick seems rather unaffected by rather unimpressive Australian PMIs for August. China's economic woes and hawkish Fed expectations might … [Continue reading]
Gold Price Forecast: XAU/USD rebound appears frail below $1,910, PMI in focus
Share: Gold Price edges higher towards short-term key resistance confluence despite firmer US Dollar. Strong US Treasury bond yields, less acceptance for dedollarization at BRICS underpin Greenback’s run-up, challenging XAU/USD price. Mixed … [Continue reading]
USD/CHF advances as markets await a fresh catalyst
Share: USD/CHF shows mild gains near the 0.8800 area. The pair continues to trade sideways since early August. Hawkish comments from Fed’s Thomas Barking gave the USD a boost. Investors await Powell’s speech on Friday and Wednesday’s US August … [Continue reading]
Malaysia: Exports slumped in June – UOB
Share: Senior Economist Julia Goh and Economist Loke Siew Ting at UOB Group assess the larger-than-expected drop in Malaysian exports in July. Key Takeaways Gross exports maintained a double-digit contraction of 13.1% y/y in Jul (Jun: 14.1%), … [Continue reading]
GBP/JPY retreats further from multi-year peak, slides back closer to 186.00 mark
Share: GBP/JPY corrects from a fresh multi-year peak and is pressured by reviving demand for the JPY. The yield on the benchmark 10-year JGB climbs to a nine-year high and lends support to the JPY. The divergent BoJ-BoE monetary policy stance … [Continue reading]