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]
USD/JPY: Local factors should support the Yen later in the year – HSBC
Share: The JPY is back as the “safe haven” of choice, as recent “risk off” periods have been associated with falling US yields. If banking-related anxiety does not intensify, this would point to a weaker JPY over the near term, but economists at … [Continue reading]
USD/MXN Price Analysis: Licks its wounds around 18.00 within falling wedge
Share: USD/MXN remains pressured near three-week low, stays within fortnight-old bullish chart pattern. Oversold RSI, mildly upbeat MACD signals suggest that Mexican Peso pair bears are running out of steam. Multi-month low marked in March puts a … [Continue reading]
AUD/USD stays depressed below 0.6700 on downbeat China Caixin Manufacturing PMI
Share: AUD/USD remains pressured around one week low, fades bounce off intraday low of late. China Caixin Manufacturing PMI for March ease to 50.0 versus 51.7 expected and 51.6 prior. Australia Building Permits for February prod AUD/USD … [Continue reading]
USD/CAD bears lurking on OPEC news
Share: USD/CAD bears lurking for the open on OPEC news. OPEC producers announce voluntary oil output cuts. USD/CAD ended Friday near flat but the Canadian Dollar edged lower against its US counterpart although it held near its strongest … [Continue reading]