The Reserve Bank of New Zealand (RBNZ) decided to reduce the official cash rate (OCR) by 25 bps to 5.25%, embarking on an easing cycle much sooner than expected, almost a year ahead of the RBNZ’s own projections, UOB Group RBNZ to continue steadily … [Continue reading]
Forex Today: Pound Sterling edges lower on soft UK inflation, focus shifts to US CPI
Here is what you need to know on Wednesday, August 14: Pound Sterling stays under modest bearish pressure in the European morning as investors assess the July inflation report. In the second half of the day, the Consumer Price Index (CPI) data from … [Continue reading]
WTI edges lower below $77.50 on slowing global demand and easing fears of wider Middle East conflicts
WTI trades in negative territory near $77.20 in Wednesday’s Asian session. Less fears of a wider Middle East war and slowing global demand concerns undermine the WTI price. API reported a significant fall in US crude inventories last … [Continue reading]
Bitcoin shows signs of recovery as Bitgo begins final Mt. Gox distribution
Bitgo moves $2 billion worth of Mt. Gox BTC after performing a test transaction. Glassnode data shows that long-term BTC holders are maintaining their holdings as selling pressure has reduced. Metaplanet announced that it had acquired 57.1 BTC worth … [Continue reading]
Ripple makes steady gains as XRP on-chain metrics turn bullish
XRP supply on exchanges is on a steady decline, signaling a decline in selling pressure per Santiment data. Ripple started testing its stablecoin in private beta, while traders digest SEC lawsuit ruling. XRP whales drop their tokens, … [Continue reading]
US Dollar falls below 103 ahead of US CPI release Wednesday
The US Dollar eases on the back of softer PPI release. Carry and high-beta currencies are pushing back against the US Dollar. The US Dollar index orbits around the 103.18 pivotal level. The US Dollar (USD) trades softer on Tuesday, after … [Continue reading]
EUR/USD Forecast: Euro struggles to clear technical resistance level
EUR/USD edges lower after closing in positive territory on Monday. The technical outlook is yet to point to a buildup of directional momentum. The US economic calendar will feature producer inflation data. EUR/USD closed the first trading day of the … [Continue reading]
Gold price remains depressed below monthly peak, looks to US PPI for some impetus
Gold price pulls back from the vicinity of the monthly peak retested earlier this Tuesday. Bulls opt to lighten their bets amid a positive risk tone and ahead of the US inflation data. Geopolitical risks and bets for a 50-bps rate cut by the Fed … [Continue reading]
Singapore Gross Domestic Product (QoQ) meets forecasts (0.4%) in 2Q
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]
Gold prices climb as US yields slide amid heightened Middle East tensions
Gold surges 1% as US Treasury yields retreat ahead of key CPI data, with the 10-year yield down to 3.902%. Ongoing tensions in the Middle East, with no ceasefire in sight, drive demand for Gold’s safe-haven status. Traders await critical US inflation … [Continue reading]