The Canadian Dollar lost 0.25% against the Greenback on Wednesday. The Bank of Canada cut interest rates by another 25 bps, to 3%. The BoC also announced the end of its quantitative tightening program. The Canadian Dollar shed one-quarter of one … [Continue reading]
Gold caught in range trade ahead of Fed interest rate decision
Gold stabilizes on Wednesday after a near 1% recovery the previous day. All eyes are on the Federal Reserve interest rate decision later in the day. Gold is better positioned to eke out a fresh all-time high still. Gold’s price … [Continue reading]
GBP/JPY remains below 193.50 due to hawkish mood surrounding BoJ’s policy outlook
GBP/JPY inches lower as traders expect the BoJ to deliver more rate hikes in the future. BoJ reiterated its commitment to further rate hikes if the outlook presented at the January meeting unfolds as expected. The Pound Sterling faces challenges due … [Continue reading]
USD/INR flat lines ahead of Fed rate decision
The Indian Rupee trades flat in Wednesday’s early Asian session. The concerns about Trump's tariffs and equity outflows weigh on the INR, but RBI intervention could help contain excessive losses. The Fed monetary policy meeting will be … [Continue reading]
RBNZ’s Conway: Interest rates moving toward neutral
Reserve Bank of New Zealand Chief Economist Paul Conway said late Tuesday that the interest rate will tend towards neutral in the absence of future shocks to the system as pandemic-related disruptions fade, per Reuters. Key quotes Given … [Continue reading]
Canadian Dollar coil ahead of central bank double-header
The Canadian Dollar stuck to familiar levels on Tuesday. The Bank of Canada and the Federal Reserve are both due this week. The Loonie’s rate differential is set to widen further, limiting bullish odds. The Canadian Dollar (CAD) stuck to familiar … [Continue reading]
US Dollar sees rally stall ahead of 108.00 on sluggish Durable Goods print
The US Dollar gets to keep gains but refrains from adding more. US Durable Goods fall below expectations. The US Dollar Index (DXY) hitted a fresh weekly high at 108.06 while trying to consolidate above the psychological 108.00 level. … [Continue reading]
Metals: Tariffs are coming – ING
Industrial metals traded under pressure at the start of the new week, with Copper dropping from a two-month high, amid concerns over China’s economic growth following weak factory activity and profit data, despite Beijing’s recent efforts to boost … [Continue reading]
Japanese Yen bears retain intraday control amid concerns about Trump’s tariff plans
The Japanese Yen retreated further from a multi-week high touched against the USD on Monday. Trump’s tariff threats, rebounding US bond yields and modest USD strength support USD/JPY. The divergent BoJ-Fed expectations might keep a lid on any further … [Continue reading]
NZD/USD faces some selling pressure below 0.5700 as Trump tariff threat looms
NZD/USD weakens to near 0.5670 in Tuesday’s early Asian session, down 0.38% on the day. Trump said that he will place tariffs on imports of computer chips, pharmaceuticals, steel, aluminum, and copper. The downbeat Chinese PMI data and … [Continue reading]