EUR/USD Current price: 1.0517 The United States Consumer Price Index met expectations in November. The European Central Bank set to announce rate cuts on Thursday. EUR/USD is technically bearish and may fall towards 1.0440. The EUR/USD pair traded … [Continue reading]
CEE: FX remains rather muted in EUR-crosses – ING
After the inflation numbers in Hungary and the Czech Republic, this morning we also saw the numbers in Romania. November inflation rose from 4.7% to 5.1%, slightly above market expectations, ING’s FX analyst Chris Turner notes. The complete … [Continue reading]
USD/INR trades flat amid likely RBI’s intervention
The Indian Rupee holds steady near an all-time low in Wednesday’s early European session. The dovish bets after the government named career bureaucrat Sanjay Malhotra as the new RBI governor might weigh on the INR. Possible intervention by … [Continue reading]
WTI remains capped below $68.50 on disappointing Chinese data, surprise climb in crude inventories
WTI trades with mild gains near $68.20 in Wednesday’s early Asian session. Discouraging Chinese economic data and a surprise climb in crude inventories drag the WTI lower. US crude stockpiles rose 499K barrels last week, noted API. … [Continue reading]
Gold price nears $2,700 as rate cut expectations fuel rally
Gold prices surge toward $2,700, supported by strong market anticipation of a Fed rate cut this December. US small business optimism rises, yet traders await crucial US CPI and PPI data later this week. Speculation about China's central bank Gold … [Continue reading]
GBP/USD Price Forecast: Retreats below 1.2750 amid strong US Dollar
Cable slides 0.17%, unable to sustain gains against a strengthening US Dollar Index, now at 106.36. GBP/USD's failure to surpass the 200-day SMA at 1.2820 signals potential for further pullback. Downward pressure increases, with possible support … [Continue reading]
China: CEWC to elaborate on ‘extraordinary’ stimulus – Standard Chartered
Upcoming CEWC likely to set a pro-growth tone and lay out stimulus plan, echoing the Politburo. Shift to an ‘appropriately loose’ monetary policy stance increases the chance of positive surprises. That said, diminishing policy room and financial … [Continue reading]
Australian Dollar remains subdued following RBA rate decision
The Australian Dollar holds losses as RBA Governor Bullock discussed the risks of rising inflation have eased. The RBA decided to hold the Official Cash Rate steady at 4.35% in its final policy meeting in December. The US Dollar continues to gain … [Continue reading]
Japanese Yen touches over one-week low against USD; lacks follow-through selling
The Japanese Yen slides to over one-week trough against its American counterpart on Tuesday. Doubts over BoJ’s ability to hike rates further turn out to be a key factor undermining the JPY. Bets for a less dovish Fed acts as a tailwind for the … [Continue reading]
RBA expected to keep interest rate steady as high inflation, tight labor market outweigh weak growth
The Reserve Bank of Australia is expected to hold the interest rate at 4.35% in December. Australian central bank Governor Michele Bullock’s comments will be closely scrutinized to gauge when could the RBA trim its benchmark rate. The volatility … [Continue reading]