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]
GBP/USD treads water at multi-day top near 1.2500 ahead of US PMI, employment statistics
Share: GBP/USD seesaws around multi-month high after rising the most in three weeks. US Dollar’s corrective bounce from five-week low, pre-data anxiety prods Cable buyers at the highest levels since June 2022. Mixed concerns about Bank of England … [Continue reading]
Fed’s Mester: Fed will need to hike rates above 5% and hold them there for a while
Share: “Federal Reserve will need to hike rates above 5% and hold them there for a while,” said Federal Reserve Bank of Cleveland leader Loretta Mester late Tuesday. The policymaker also stated that the recent bank tighter credit may result from … [Continue reading]
AUD/USD bears in the market but China could be its savior
Share: AUD/USD pressured by RBA rate decision. RBA held the policy rate at 3.60%. RBA Statement says inflation has peaked, labour market remains very tight, some further tightening may well be needed. AUD/USD remains offered in … [Continue reading]
USD/MXN: Seasonals do not tend to favour a stronger Peso in April – SocGen
Share: The MXN rallied to below 18.00 against the USD after Oil prices took off following the production cut by OPEC. But economists at Société Générale note that seasonals do not favour the Peso in April. Downside risk for MXN if US yields march … [Continue reading]
New Zealand: RBNZ could hike again in April – UOB
Share: Economist at UOB Group Lee Sue Ann sees the RBNZ raising the OCR by 25 bps at the April 5 event ahead of a potential pause in the next months. Key Quotes “We now think the RBNZ will have to dial back on further rate hikes, especially in light … [Continue reading]
AUD/USD drops below 0.6770 as RBA keeps policy unchanged
Share: AUD/USD has sensed selling pressure as the RBA has kept rates unchanged at 3.6%. The street was divided between a steady RBA policy and an 11th consecutive rate hike. The upside in the USD Index looks capped as investors are … [Continue reading]
USD/JPY bears approach 132.00 as yields drop on softer US PMI, downbeat Fed concerns
Share: USD/JPY remains depressed after reversing from two-week high. Yields drop as US PMI traces downbeat inflation clues, receding hawkish Fed bets. Japan PM Kishida assures stable financial system at home, pledges more investments. Tuesday’s … [Continue reading]
Will Ripple price display John Deaton’s ‘cockroach-like resilience’ as bullish momentum wanes for XRP?
Share: Ripple price has pulled back after attorney John Deaton put off hopes of a near ruling by Judge Torres. XRP could drop below the critical support at $0.507 before a deeper nosedive. A decisive close above the $0.531 resistance level will … [Continue reading]
EUR/USD hits fresh highs above 1.0900 after US ISM Manufacturing PMI
Share: US Data: March ISM Manufacturing PMI and February Construction Spending below expectations. US Dollar Index tumbles as US yields sank. EUR/USD looking to test March highs at 1.0925/30. The EUR/USD rose further following … [Continue reading]