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]
Gold price jumps as inflation cools down, reigniting Fed rate cut hopes
Gold price hits $2,390, its highest level in three weeks, gaining over 1%. US Treasury bond yields plunge, US Dollar Index drops to five-week low. April Retail Sales stagnate, while Fed officials express concerns about restrictive monetary policy. … [Continue reading]
US Dollar dives as inflation decelerated in April
The DXY fell to its lowest level since mid-April on Wednesday. Weak US inflation data and unimpressive Retail Sales increase odds of a Fed interest rate cut in the near term. Markets are still discounting higher odds of the first cut being in … [Continue reading]
Oil sinks while the Greenback retreats on softer CPI print
Oil breaks below $78.00 after both OPEC and IEA released their monthly reports. While OPEC stuck to previous expectations, sluggish demand is forecasted in the IEA release. The US Dollar Index eases ahead of the US CPI print. … [Continue reading]