The Aussie Dollar posted losses of 0.57% against the US Dollar on Wednesday, even though US data trimmed hawkish bets on the Federal Reserve, while the dovish tilt of RBA’s Governor Michele Bullock weighed on the antipodean. At the time of writing, … [Continue reading]
Australian Dollar Price Forecast: Near-term outlook shifts to bearish
The Australian Dollar (AUD) has weakened further on Wednesday, motivating AUD/USD to further extend its recent breakdown of its critical 200-day SMA to hit new two-month troughs in the mid-.6900s.The pair’s continuation of the downtrend comes amid … [Continue reading]
China: PMIs point to manufacturing and services improvement – Deutsche Bank
Deutsche Bank’s Early Morning Reid notes that China’s latest PMI data show a broad-based pickup in activity. The private-sector RatingDog Manufacturing PMI and official manufacturing PMI both strengthened, with the latter returning to expansion. … [Continue reading]
US Dollar: Rally seen stretched into year-end – TD Securities
TD Securities’ TD Macro Research Insight argues the US Dollar rally is stretched against major currencies and is unlikely to break to new highs in current Fed hiking cycle. Month-end equity rebalancing flows, weaker-than-consensus US payrolls, and … [Continue reading]
Indonesian Rupiah gains on robust Chinese PMI data, budget assurance
USD/IDR extends its losses for the second consecutive day, trading around 17,860 during Asian hours on Wednesday. The pair depreciates as the Indonesian Rupiah (IDR) gains strength, driven by improving market sentiment following stronger economic … [Continue reading]
Mediators push peace deal between US and Iran — FT
Mediators are making a renewed push to advance an agreement between the United States (US) and Iran, the Financial Times reported on Tuesday. This move came after US President Donald Trump said he had rejected an Iranian proposal to reopen the Strait … [Continue reading]
What will drive crypto prices? WisdomTree on the role of adoption and revenue
Increased adoption and effective revenue capture in crypto protocols could drive prices over the coming months, according to WisdomTree's Director of Digital Asset Research Dovile Silenskyte.Crypto adoption could drive price growth across marketIn an … [Continue reading]
XRP advances within a robust technical structure
Ripple (XRP) shows signs of stabilizing after reclaiming support at $1.50 on Tuesday. A robust technical structure underpins the token’s short to medium-term bullish outlook. Still, XRP is not out of the woods yet, as profit-taking and buyer … [Continue reading]
New Zealand Dollar falls toward 0.5650 despite rising RBNZ rate hike bets
NZD/USD declines to around 0.5650 at the time of writing on Tuesday, down 0.25% on the day, and remains close to its lowest level since late June. The New Zealand Dollar (NZD) remains under pressure against the US Dollar (USD) as persistent tensions … [Continue reading]
Australian Dollar: RBA’s hawkish hike caps upside – Commerzbank
Commerzbank’s Volkmar Baur reports that the Reserve Bank of Australia raised its cash rate by 25 bps to 4.6%, the highest level in about 15 years, and struck a notably hawkish tone. Despite signaling that rates could rise further as inflation … [Continue reading]