The US Dollar index plunged below its 20-day SMA, trading below 106.00. Soft labor market data seems to be pushing the buck lower. If economic data continue coming in soft, markets might continue to bet on a more dovish Fed. The US Dollar (USD) is … [Continue reading]
Pound Sterling outperforms US Dollar as US Jobless Claims surge
The Pound Sterling rises as BoE Governor Andrew Bailey sticks to follow a gradual policy-easing approach. Financial market participants expect the BoE to keep interest rates steady in the policy meeting on December 19. Fed Powell expects that the … [Continue reading]
AUD/USD: To retest the 0.6400 level before stabilization – UOB Group
The weakness in the Australian Dollar (AUD) could retest the 0.6400 level before stabilization is likely. In the longer run, risk for AUD has shifted to the downside; the 0.6380 level is expected to provide significant support, UOB Group’s FX … [Continue reading]
Gold price remains depressed below $2,650 amid expectations for a less dovish Fed
Gold price ticks lower on Thursday amid a modest rebound in the US bond yields. Geopolitical risks and trade war fears could help limit losses for the XAU/USD. The USD bulls remain on the sidelines ahead of the key US NFP report on … [Continue reading]
Australia’s Trade Surplus increases to 5,953M MoM in October vs. 4,500M expected
Australia’s trade surplus increased to 5,953M MoM in October versus 4,500M expected and 4,609M in the previous reading, according to the latest foreign trade data published by the Australian Bureau of Statistics on Thursday.Further details … [Continue reading]
Dow Jones Industrial Average roils on hectic Wednesday
The Dow Jones rattled on Tuesday and continued to battle the 45,000 handle. ADP jobs report says the number of new worker positions grew less than expected. Despite firm gains in key stocks and sectors, the Dow Jones looked downward. The Dow Jones … [Continue reading]
United States EIA Crude Oil Stocks Change below expectations (-1M) in November 29: Actual (-5.073M)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
AUD/USD plunges to near 0.6400 as weak Aussie GDP boosts RBA dovish bets
AUD/USD plummets to near 0.6400 as the Australian Dollar weakens after slower-than-expected Australian Q3 GDP growth. Soft Aussie Q3 GDP data has boosted expectations for RBA interest rate cuts in April 2025. The US Dollar gains higher ahead of Fed … [Continue reading]
USD/INR flat lines as Indian Services PMI shows strong growth in November
The Indian Rupee steadies in Wednesday’s early European session. The Indian HSBC Services PMI came in at 58.4 in November vs. 58.5 prior, weaker than expected. India's disappointing GDP data, foreign fund outflows and strengthening of the USD weigh … [Continue reading]
RBNZ Orr: Changes to capital rules will not increase competition among banks
Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr said early Wednesday that “changes to capital rules will not increase competition among banks.” He did not comment on monetary policy or economic outlook. Market reaction As of writing, NZD/USD … [Continue reading]