Bank of Japan (BoJ) board member Naoki Tamura is back on the wires, via Reuters, clarifying his earlier remarks on the central bank’s interest rate. Key quotes Not saying that neutral rate should be 1%. Difficult to specify terminal rate at this … [Continue reading]
Australia’s Trade Surplus decreases to 5,085M MoM in December vs. 7,000M expected
Australia’s trade surplus decreased to 5,085M MoM in December versus 7,000M expected and 6,792M (revised from 7,079M) in the previous reading, according to the latest foreign trade data published by the Australian Bureau of Statistics … [Continue reading]
Fed’s Goolsbee: Can’t ignore threats to supply chains like tariffs
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Wednesday that it is difficult for central banks to generally estimate the fallout of things like tariffs, and could complicate the Fed's ability to accomplish its task of … [Continue reading]
US Dollar dips with ADP, S&P Global and ISM data all painting mixed picture
The US Dollar looks unable to recover earlier losses this Wednesday against most major peers on Wednesday. Despite upbeat ADP and S&P Global PMI data, ISM data contradicts. The US Dollar Index (DXY) keeps testing major support at … [Continue reading]
Fed sticks to hawkish rhetoric, according to FXS Fed Sentiment Index
Following the first policy meeting of the year, the Federal Reserve (Fed) announced that it left the policy rate unchanged at 4.25%-4.5% in a widely anticipated decision. In its policy statement, the Fed acknowledged that inflation data has been … [Continue reading]
EU prepares to hit Big Tech in retaliation for Trump’s tariffs – FT
Citing two officials with knowledge of the plans, the Financial Times (FT) reported on Wednesday that the European Commission is preparing to deploy its “anti-coercion instrument” (ACI) in a potential retaliation to US President Donald Trump’s … [Continue reading]
NZD/USD hovers around 0.5650 following labor market data, China’s Services PMI
NZD/USD remains silent following the release of domestic employment figures on Wednesday. China's Services PMI dropped to 51.0 in January from 52.2 in December, falling short of the expected 52.3. Traders anticipate Friday’s US Nonfarm Payrolls … [Continue reading]
New Zealand Unemployment Rate in line with forecasts (5.1%) in 4Q
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AUD/USD Price Forecast: Next up comes the YTD peaks past 0.6300
AUD/USD rebounds further from multi-year lows in the sub-0.6100 area. The US Dollar lost further momentum as traders evaluated tariffs. Markets’ focus shifts to China and its retaliatory measures. The US Dollar (USD) retreated further on turnaround … [Continue reading]
EUR/USD Price Forecast: Buyers giving up amid looming US employment data
EUR/USD Current price: 1.0326 US President Donald Trump’s tariffs continue to drive the market’s mood. United States employment-related figures taking centre stage this week. EUR/USD at risk of resuming its slide, 1.0220 in sight once 1.0300 gives … [Continue reading]