The British Pound (GBP) steadies against the US Dollar (USD) on Friday, but it is poised to end the week with gains of over 1% as investors turn skeptical that the Federal Reserve (Fed) will raise interest rates at its September meeting. At the time … [Continue reading]
South African Rand: ZAR gains as sukuk plans outlined – Societe Generale
Societe Generale strategists note that South Africa’s National Treasury will tap existing rand-denominated sukuk bonds as part of its current fiscal year funding plans, with issuance size and timing still unknown. They recall South Africa’s 2023 … [Continue reading]
Italy Retail Sales n.s.a (YoY) increased to 2.2% in May from previous 1.6%
Bitcoin, Ethereum and Ripple extend their recovery on Friday as improving risk sentiment and strengthening technical indicators support the broader cryptocurrency market. BTC reclaims the $61,300 level after rebounding from a 21-month low earlier … [Continue reading]
United States Dollar Index faces pressure as traders reconsider hawkish Fed bets
The US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, is marginally down to near 100.80 during the Asian trading session on Friday. The US Dollar has come under pressure as traders reconsider hawkish Federal … [Continue reading]
Australia S&P Global Composite PMI came in at 50.4, above expectations (49.8) in June
EUR/USD leaves behind two daily pullbacks in a row and advances to multi-day peaks near 1.1470 on Thursday, partially offsetting the sharp decline in place since June. The pair’s decline follows the intense retracement in the US Dollar, which is … [Continue reading]
AUD/USD Price Forecast: Bearish bias persists below 0.7000
The Australian Dollar (AUD) trades on the front foot against the US Dollar (USD) on Thursday as a weaker-than-expected US Nonfarm Payrolls (NFP) report pushed back expectations of an imminent Federal Reserve (Fed) interest rate hike. However, AUD/USD … [Continue reading]
United States Factory Orders (MoM) came in at -1.3%, above expectations (-1.8%) in May
EUR/USD gains traction and surpasses the 1.1450 mark, reaching a fresh multi-day peak on Thursday, amid a marked correction in the US Dollar. Meanwhile, the pair leaves behind two consecutive daily pullbacks as investors continue to gauge the latest … [Continue reading]
RBNZ: Policy pace and July hike – TD Securities
TD Securities’ Prashant Newnaha expects the Reserve Bank of New Zealand (RBNZ) to raise the Official Cash Rate (OCR) by 25bps to 2.50% at next week’s meeting, keeping policy too accommodative with the cash rate still below neutral. Newnaha … [Continue reading]
Nonfarm Payrolls set to grow by over 100K in June, reinforcing bets of upcoming Fed rate hikes
The United States (US) Bureau of Labor Statistics (BLS) will release the Nonfarm Payrolls (NFP) data for June on Thursday at 12:30 GMT. With investors pricing in a hawkish Federal Reserve (Fed) policy outlook with the new Chairman Kevin Warsh at … [Continue reading]
Euro nudges higher above 1.1350 on softer Fed stance, traders await US jobs data
The EUR/USD pair posts modest gains near 1.1380 during the early Asian session on Thursday. The US Dollar (USD) edges lower against the Euro (EUR) on less hawkish remarks from Federal Reserve (Fed) Chairman Kevin Warsh. Traders will closely monitor … [Continue reading]