Share: Arbitrum, despite having its airdrop two weeks ago, is noting daily transactions equal to Ethereum. The Foundation acknowledged the rejection of AIP-1 and stated it would not move any of the remaining 700 million ARB. Following the 17% drop … [Continue reading]
AUD/USD skids below 0.6700 amid Sino-US tensions over Taiwan, US NFP hogs limelight
Share: AUD/USD has surrendered the immediate support of 0.6700 as US-China tension has strengthened the risk-off mood. Federal Reserve to remain steady amid deepening US recession fears and cooling US labor market. Reserve Bank of Australia has … [Continue reading]
China Caixin Services PMI beats, supportive of AUD/USD´s near-term outlook
Share: The Caixin Services PMI, released by Markit Economics, has been released as follows: China Caixin Services PMI March: 57.8 (est 55.0; prev 55.0). Caixing Composit PMI March: 54.5 (prev 54.2). AUD/USD update AUD/USD remains tucked in on … [Continue reading]
Forex Today: Dollar rebounds despite US data, Yen gains amid lower yields
Share: After the ADP and ISM Service PMI, attention turns to Nonfarm Payrolls. Data releases on Thursday include Australian trade, Reserve Bank of Australia Financial Stability Review, Chinese Caixin Service PMI, Canadian employment and US weekly … [Continue reading]
Gold Price Forecast: Bulls hold ground, prepare for another leg north
Share: XAU/USD Current price: $2,020.20 Dismal United States data maintains the USD on the back foot despite a souring mood. Stock markets struggle to leave the red, government bond yields ease. XAU/USD consolidates gains with the bullish bias … [Continue reading]
Breaking: US private sector employment rises by 145K in March vs. 200K expected
Share: The data published by Automatic Data Processing (ADP) showed on Wednesday that private sector employment in the US rose by 145,000 in March. This reading came in below than the market expectation of 200,000. On a positive note, February's … [Continue reading]
Italy S&P Global Services PMI came in at 55.7, above forecasts (53.2) in March
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]