Canadian Dollar taking a breather amidst easy Friday markets. Canada is set for a long weekend and will return on Tuesday with CPI inflation. Fedspeak to dominate as investors await signs of Fed rate cuts. The Canadian Dollar (CAD) is trading softly … [Continue reading]
Fed’s Waller does not comment on policy or economic outlook
Federal Reserve (Fed) Governor Christopher Waller delivered a prepared speech at the International Organization for Standardization Technical Committee 68 Financial Services 44th Plenary Meeting on Friday but refrained from commenting on the … [Continue reading]
Pound Sterling comes down from 1.2700 as US Dollar bounces back
The Pound Sterling falls from 1.2700 as the focus shifts to UK inflation data. Investors expect that the BoE could start reducing interest rates in the June or August meeting. Fed’s hawkish stance on interest rates boosts US Dollar’s … [Continue reading]
Australian Dollar struggles as Aussie 10-year yield drops to a monthly low
The Australian Dollar extends its losses after mixed economic data from China on Friday. The Australian Dollar struggles as Australia’s 10-year bond yield has dropped to a monthly low of 4.2%. China’s Retail Sales increased for the consecutive 15th … [Continue reading]
USD/CAD edges higher above 1.3600 on firmer US Dollar, Fed’s cautious tones
USD/CAD holds positive ground near 1.3620 in Friday’s early Asian session. Several Fed officials emphasized their cautious stance to keep the rate higher for longer, lifting the USD. The recovery in oil prices is likely to cap … [Continue reading]
GBP/JPY sticks close to 197.00 as Yen weakens further
GBP/JPY recovers to familiar highs as JPY recedes. Japanese GDP growth contracted faster than expected. Sterling traders looking ahead to next week’s UK CPI inflation. After recovering from a mid-week pullback, GBP/JPY scrambled back towards the … [Continue reading]
AUD/USD Forecast: Extra gains remain on the cards near term
AUD/USD rose to four-month highs beyond 0.6700. The rebound in the Dollar weighed on the pair. The Australian labour market report came in mixed in April. The mild rebound in the US Dollar (USD) sparked some renewed selling bias in broad risky … [Continue reading]
AI tokens see explosive gains as Vitalik Buterin says GPT 4 passed the Turing test
Vitalik Buterin commented on whether OpenAI’s GPT 4 passed the Turing test, in an update on Farcaster. Buterin believes GPT 4 has passed the test, meaning it exhibits intelligent behaviour equivalent to or indistinguishable from humans. … [Continue reading]
USD/INR rises to near 83.50 due to the upward correction in the US Dollar
USD/INR gains ground as US Treasury yields recover on Thursday. The US Dollar may struggle due to the growing expectations of multiple rate cuts by the Fed in 2024. India's Trade Deficit increased to $19.1 billion in April due to lower exports and a … [Continue reading]
Japan’s Shindo: The economy is expected to continue a moderate recovery
Japan's Economy Minister Yoshitaka Shindo said on Thursday that Japanese economy is expected to continue moderate recovery. Shindo further stated that he will closely monitor the risks related to foreign exchange fluctuations that … [Continue reading]