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Tag - Forex Market Analysis

CAD rallies: Will Inflation force the BoC to Hike Rates? 

The Canadian Dollar (CAD) has gained 1.39% against the US Dollar since the start of June, making it the second-best performing currency against the greenback so far this month. The recent rally can be attributed to the...

Dollar Retests 104 as Markets trim Rate hike Expectations

The U.S. dollar maintained its stability above 104 on Thursday, although abandoning its two-month high as traders assess the updates on the U.S. debt ceiling and commentaries from Fed members. The US Dollar Index...

3 Reasons why the NZD plumbed after RBNZ Rate Hike

The New Zealand dollar (NZD) fell over 1% on Wednesday to its lowest levels in more than three weeks after RBNZ increased interest rates as widely anticipated. On Wednesday, the Reserve Bank of New Zealand (RBNZ) raised...

EUR/USD Hovers near 7-week Lows on Weak Business Growth

Investors are reacting to the recent PMI survey that showed slowing activity in the Euro area causing the EUR/USD to steady near its seven-week low. Meanwhile, the U.S. dollar rose slightly for the second consecutive...

USD Steadies near 2-month high ahead of Powell Speech

The USD held its gains on Friday near its two-months peak reached in the previous session, hovering mid 103 levels. Growing optimism from the debt ceiling negotiations and a hawkish stance by the Federal Reserve are...

AUD/USD Slips as Weak Employment Supports RBA’s Pause

The AUD/USD plunged on Thursday as employment data came well below expectations for April. This suggests that the Reserve Bank will have less room to continue increasing interest rates. The U.S. dollar remained close to...

Gold Extends Correction Below $2000 as USD Recovers

The price of gold steadied below $2,000 per ounce on Wednesday following a drop of over 1% in the previous trading session. Prices remained under pressure for the second consecutive session as the dollar regained...

USD/CAD Steady mid 1.34, Inflation Data Eyed

The USD/CAD saw a sluggish trading on Tuesday as CAD traders look forward to April’s CPI inflation data later on the day. Meanwhile, the USD remained under pressure amid concerns about the possibility of a US...

USD gains as traders predict a pause in Fed policy! 

The U.S. dollar is holding close to a more than one-week peak on Friday, with investors betting that the Federal Reserve will further pause its interest rate increases. The USD index, which measures the U.S. currency...

GBP Approaches $1.26 After BoE Raises Interest Rates

The British pound (GBP) rose above $1.26 on Thursday, hovering near its highest levels since May 2022. This came after the Bank of England (BoE) increased its Bank Rate by 25 basis points to 4.5% as widely predicted...

USD Steady mid 101 ahead of CPI Data

The USD has been caught in narrow trading on Wednesday and gains were limited as traders cautiously await the release of U.S. CPI report for April. The upcoming inflation report will help determine the path of the...

Oil Prices Lose Momentum, Gold Steady above $2,000

Oil prices dropped on Tuesday, following significant gains in the two previous sessions. Meanwhile, gold remained stable above $2,000 and traded within a narrow range. The market is turning cautious ahead of the release...

Euro up Post ECB, USD eases ahead of NFP 

Euro extended recovery following the European Central Bank’s decision to increase interest rates and signaling more future increases. Meanwhile, the USD maintained its decline as the turmoiled U.S. banking system...

The Fed Raises Rates Again — Will This Be the Last? 

The Federal Reserve declared a quarter-point increase in the federal funds rate on Wednesday, which has now set the target range at 5% to 5.25%. This marks the 10th successive rate increase by the central bank, and...

USD Eases Ahead of Fed Meeting – FOMC Preview

The USD extended losses from the previous session on Wednesday. Weaker-than-expected jobs data, concerns over the debt ceiling, and banking sector risks weighed on the greenback ahead of Fed rate decision later today...

AUD Soars on Unexpected RBA Hike

The Australian dollar (AUD) jumped to the highest levels in over a week, above $0.67, after the Reserve Bank of Australia abruptly raised the cash rate on Tuesday. The Aussie has strengthened against the US Dollar, New...

Euro Near One-year High as USD Slides Ahead of GDP

Forex News – The Euro rose to a one-year high against the U.S. dollar supported by Europe’s resilient economy despite concerns about banking risks. Meanwhile, the debt ceiling negotiations in the United...

AUD/USD at 6-Week Low Following Softer Inflation

The Australian dollar fell against its U.S. counterpart as data showed that domestic inflation continued to ease, although at a slower-than-expected rate. The AUD/USD tested the 0.6600 level for the first time in six...

GBP Flat Ahead of Inflation Figures

The British Pound (GBP) was unchanged during early trading on Wednesday as traders await inflation data later on the day for more clues on BoE’s policy path. GBP/USD steadied above $1.24 near its 10-month high of...

USD Slips amid Boosted Risk Sentiment 

The USD dropped slightly on Tuesday settling below the 102.00 handle and giving up some of the gains from overnight, as market sentiment improves following positive growth data from China. The release of Chinese data...

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