The US Dollar Index (DXY) ended the week near even with Thursday, holding near 98.80. Like Thursday, DXY traded down to the 98.50s before recovering later in the session.The US Dollar Index trades near its lowest since May. The softness owes less to … [Continue reading]
Thai Baht: Extended policy pause expected from Bank of Thailand – DBS
DBS economists Taimur Baig and Radhika Rao expect the Bank of Thailand (BoT) to keep its policy rate unchanged at 1.00% in August, extending the pause after June’s unanimous decision. They cite uneven economic growth, easing but still elevated … [Continue reading]
AUD/USD Price Forecast: Bulls eye 0.7200 as RSI nears overbought territory
AUD/USD edges higher on Friday, climbing to its highest level since June 3 as the Australian Dollar (AUD) outperforms all its major peers. A broadly weaker US Dollar (USD), strength across the commodity complex led by rising Gold (XAU/USD) prices, … [Continue reading]
US Dollar broadly consolidates as analysts cast doubts over long-term impact of US Treasury buyback
The US Dollar Index (DXY) is broadly consolidating near the 99.00 level as investors process the US Treasury's expanded long-end bond buyback and a modest rebound in Treasury yields. While the buybacks initially cooled long-term borrowing costs, … [Continue reading]
Gold Price Forecast: XAU/USD extends rally as US debt concerns continue to drag US Dollar
Gold price (XAU/USD) is up 0.65% at around $4,550 during the early European trading session on Friday, the highest level seen in over 11 weeks. The precious metal capitalizes on a weak US Dollar (USD), which has been hit hard, as the Treasury’s … [Continue reading]
British Pound edges higher to near 1.3650, UK Retail Sales data looms
The GBP/USD pair gathers strength near 1.3645 during the early Asian trading hours on Friday. The US Dollar (USD) softens against the British Pound (GBP) amid fading Federal Reserve (Fed) rate hike expectations. Traders brace for the UK Retail Sales … [Continue reading]
Japanese Yen slips as firmer yields lift US Dollar ahead of global PMIs
USD/JPY trades north of the 159.00 barrier at the time of writing on Thursday, higher on the day and clawing back most of the previous session's losses. The move owes more to a steadier US Dollar (USD) than to anything out of Japan, with the … [Continue reading]
Dow Jones Industrial Average sells the best outlook since 1983
The Dow Jones Industrial Average trades near 53,050, more than 400 points lower on the session, after two of the strongest American data points of the month arrived in the same 12:30 GMT block and were sold on delivery. Manufacturing in the … [Continue reading]
United States: Long-end yield risks contained – ING
ING’s Padhraic Garvey analyses how the US Treasury’s decision to double buybacks in 10-30 year maturities affects long-end US Treasuries. He stresses that while the programme is sizeable and could be expanded again, it mainly mutes, rather than … [Continue reading]
South African Rand: inflation risks from El Niño – Commerzbank
Commerzbank’s Volkmar Baur notes South African inflation surprised on the downside in August, with headline Consumer Price Index (CPI) at 4.3% and core at 4.2%. He attributes the easing mainly to lower gasoline and food prices but warns that high Oil … [Continue reading]