Stabilization in risk sentiment lends support to the USD despite lack of fresh fundamentals. Fed officials paint an optimistic picture of the US labor markets despite slow job growth. Market adjusts easing expectations; first rate cut expected in … [Continue reading]
NZD/USD Price Analysis: Consolidation takes place, 0.6000 remains crucial
NZD/USD bulls struggle above 0.6000, bears eye 0.5950. RSI neutralizes at 54, MACD flattens. The pair will tally a 0.80% weekly gain. In Friday's session, the NZD/USD pair declined mildly to 0.6010, marking the seventh consecutive day within a … [Continue reading]
CNY: What’s been driving a stronger renminbi? – MUFG
The main economic data release overnight was the latest CPI report from China for July, MUFG FX analyst Lee Hardman notes. USD/CNY rises back towards the 7.1800 level “The report revealed that headline inflation picked up modestly by 0.3 points to … [Continue reading]
USD/JPY trades sideways above 147.00 as global recession fears ebb
USD/JPY trades back and forth above 147.00 as investors look for fresh guidance on Fed’s rate-cut path. Market speculation for Fed rate cuts in September appears as imminent. The BoJ acknowledged the need to hike interest rates further this year. … [Continue reading]
Japanese Yen holds gains as US Dollar remains tepid amid dovish Fed
The Japanese Yen appreciates due to a hawkish sentiment surrounding the BoJ. Japan’s Finance Minister Shunichi Suzuki will continue to monitor market developments closely. The US Dollar receives downward pressure due to heightened odds of a … [Continue reading]
Kamala Harris could be turning pro-crypto following White House meeting with crypto leaders
Crypto executives met with White House members to discuss the future of crypto policy. The virtual meeting stirred high tension as crypto executives expressed grievances with the Biden administration. Certain crypto enthusiasts have shown … [Continue reading]
Ripple slapped with $125 million fine, judge says firm could “cross the line” with securities law violations
SEC vs. Ripple lawsuit ends with Judge Torres ruling that Ripple is likely to violate the law with their willingness to push boundaries. Judge slammed Ripple with $125 million in fines for institutional sales of XRP, a federal securities law … [Continue reading]
US Dollar Price Forecast: USD holds steady after strong labor market data
Strong Initial Jobless Claims data triggers the USD, yet aggressive easing might limit the upside. Investors await further clues on the US economy. Markets continue to underestimate the Fed and are confident that it will rush to cut. The US Dollar … [Continue reading]
Gold price steadies on firm Fed rate-cut prospects
Gold’s price hovers near $2,400 as the US Dollar and bond yields correct. The Fed is expected to cut interest rates by more than 100 bps this year. Investors await the US weekly jobless claims data. Gold’s price (XAU/USD) slightly recovers from a … [Continue reading]
NZD/USD trims a part of modest intraday gains after softer NZ inflation expectations data
NZD/USD trades with positive bias for the third straight day, albeit lacks follow-through. A fall in New Zealand's (NZ) two-year inflation expectations caps the upside for the pair. Bets for bigger interest rate cuts by the Fed undermine the USD and … [Continue reading]