Share: Banxico leaves interest rates unchanged at 11.25%, ending the hiking cycle initiated in June 2021, causing a muted reaction in the USD/MXN. Banxico’s statement indicates a disinflationary process underway, yet it acknowledges a complicated … [Continue reading]
Gold Price Forecast: XAU/USD to reach $2,120 by Q1 2024 – ANZ
Share: Economists at ANZ Bank retain a bullish view and forecast Gold at $2,120 by the first quarter of the next year. Risk could stem from divergence between Fed’s actions and market expectations “Prolonged geopolitical tensions, such as that … [Continue reading]
USD/MXN: Another hike would be a surprise, but would not be guaranteed to be welcomed by the Peso – SocGen
Share: Economists at Société Générale analyze the USD/MXN outlook ahead of the Banxico meeting. Break below 17.45 can lead USD/MXN towards next projections at 17.10/16.95 “Banxico is likely to pause monetary tightening today and leave the key rate … [Continue reading]
Asian Stock Market: Tracks Wall Street’s gains despite sluggish S&P500 Futures amid US debt limit optimism
Share: Equities in Asia-Pacific zone grinds higher while tracing Wall Street’s moves, ignoring S&P500 futures. Stocks in Australia, New Zealand benefit from easing hawkish RBA bets and upbeat NZ budget. China’s trade news, hopes of no US … [Continue reading]
Australia Full-Time Employment down to -27.1K in April from previous 72.2K
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]
Forex Today: Dollar weakens amid risk appetite; eyes turn to Australian jobs data
Share: A busy session is ahead in Asia, with several key reports scheduled for release. The most important report will be the Australian employment data. In New Zealand, the government will deliver the Budget 2023, and wholesale inflation data is … [Continue reading]
NZD/USD rally capped by strengthening US Dollar, housing market recovery
Share: US housing market data shows the recovery, bolstering the US Dollar and limiting NZD/USD gains. Improving US debt ceiling discussions boost Wall Street and investor sentiment. Despite some dovish-leaning Fed speakers, no rate cuts are … [Continue reading]
BoE’s Bailey: There are signs that the labour market is loosening a little
Share: In a speech to the British Chambers of Commerce on Wednesday, Bank of England (BoE) Governor Andrew Bailey said there are signs that the labour market is loosening a little, per Reuters. Additional takeaways "Inflation is much too high … [Continue reading]
USD/CNH could now test the 7.0500 region – UOB
Share: The continuation of the bullish move could push USD/CNH to the 7.0500 area in the near term, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: “The strong surge in USD to a high of … [Continue reading]
Japan’s Goto: GDP data shows moderate economic pickup continuing
Share: Following the release of the Japanese Q1 Gross Domestic Product (GDP) data early Wednesday, the country’s Economy Minister Shigeyuki Goto said that “GDP data shows moderate economic pickup continuing.” Additional takeaways Economy likely to … [Continue reading]