Share: UK Finance Minister Jeremy Hunt announced the Autumn Forecast Statement on Wednesday, stating that “we will reduce debt, cut taxes, reward work in this statement.” Additional quotes We will cut business taxes. The Office for Budget … [Continue reading]
USD/CNY: Yuan unlikely to strengthen substantially further in the near term – Commerzbank
Share: The softening in USD and signs of thawing of US-China relations have helped to strengthen the Yuan over the past week or so. Economists at Commerzbank analyze USD/CNY outlook. Stabilization rather than a strong re-acceleration in activity … [Continue reading]
USD/INR trades firmer, RBI remains on high alert on inflation
Share: Indian Rupee loses ground on the renewed USD demand. The Ministry of Finance stated that they remain on high alert over inflationary risks. Market players await the US Jobless Claims Durable Goods Orders and UoM Consumer Sentiment survey. … [Continue reading]
AUD/USD loses its recovery momentum below 0.6560 ahead of RBA’s Bullock speech
Share: AUD/USD loses traction around the mid-0.6500s in early Wednesday. The FOMC showed members agreed policy to remain at a restrictive stance for some time until inflation moves down toward the objective. The November RBA Board meeting … [Continue reading]
Breaking: Binance Coin price crashes by more than 8% in an hour as Binance CEO CZ resigns
Share: Binance Coin price crashed by over 8% in the span of an hour, falling from $258 to $244 at the time of writing. The crash was the result of Binance agreeing to a $4.3 billion settlement with the US government. The US Justice … [Continue reading]
Euro returns to the 1.0950 region ahead of Lagarde speech, FOMC Minutes
Share: The Euro abandons the area of recent tops against the US Dollar. European stocks trade mostly with losses on Tuesday. The FOMC Minutes and ECB Lagarde's speech will grab all the attention later in the day. The Euro (EUR) comes … [Continue reading]
Further Dollar weakness today – ING
Share: The Dollar continues to edge lower. Economists at ING analyze USD outlook. Focus on US October Existing Home Sales data and FOMC Minutes Look for further Dollar weakness today given the risk of the lowest US Existing Home Sales data since … [Continue reading]
USD/INR loses traction, all eyes on the FOMC Meeting Minutes
Share: Indian Rupee holds positive ground amid the softer US Dollar. Sustained dollar demand from state-run and foreign banks, overseas outflows, and higher crude oil prices might cap the INR’s upside. The FOMC Meeting Minutes will be in the … [Continue reading]
RBA’s Bullock: Inflation to be major challenge to Australian economy for up to two years
Share: Reserve Bank of Australia (RBA) Governor Michele Bullock said on Tuesday that inflation will be the major challenge for the economy over the next two years. Key quotes “Underlying demand was fueling part of the inflation challenge, and it … [Continue reading]
New Zealand Dollar continues gaining on Monday against Greenback
Share: The New Zealand Dollar rises on increased optimism regarding its largest trading partner, China. The Kiwi gains traction after the PBOC decides to keep rates unchanged and pumps more liquidity into the economy. NZD/USD continues to rebound, … [Continue reading]