Gold prices stretched losses on Tuesday hovering near two-month lows as rising optimism over a potential U.S. debt ceiling deal and expectations of further interest rate hikes by the Federal Reserve boosted demand for...
Tag - Forex News Updates
Weekly Market Outlook: US NFP, PMIs, Inflation and Jobs Data to Watch!
Weekly Market Outlook – Investors are considering the possibility of a final Fed rate increase during the summer, and the resurgence of the dollar adds further significance to the upcoming round of US employment...
Rate Hike Bets keep USD on Track for 3rd Weekly Gains, PCE in Focus
The USD retreated slightly from its fresh peak in two months reached on Thursday, yet it is still set for the third weekly gain in a row due to increasing expectations for more rate hikes by the Federal Reserve. Traders...
Dollar hits 104 on Debt Turmoil, Euro slips as Germany enters Recession
The U.S. dollar rose to a fresh two-month high on Thursday due to concerns about a potential U.S. default. Fitch has warned of a rating downgrade, which has contributed to spur fear and risk-off mode among investors...
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...
How does the US Debt Ceiling Crisis affect the value of the US Dollar?
America’s dominance in the global economy is facing significant challenges due to self-inflicted policy wounds. A critical impasse surrounding the debt ceiling has brought the spotlight back to the dollar’s...
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...
Weekly Market Outlook: UK and US inflation, RBNZ, Fed Minutes, Flash PMIs to watch
Weekly Market Outlook – The RBNZ appears poised to increase interest rates for the twelfth time this week. Meanwhile, the inflation data from the UK and the US will play a vital role in shaping expectations for...
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...
Weekly Market Outlook: US Retail Sales, CAD and EUR CPI, GDP to watch!
Weekly Market Outlook – Investors will shift their focus towards data releases this week as there are no central bank decisions scheduled. The US retail sales report is at the top of the list and will be closely...
Which Emerging Currencies Have Shown The Most Growth In 2023?
Emerging market currencies have been in the spotlight since 2023, with many investors optimistic that this year could bring some relief after a rough 2022. According to a survey of 40 foreign exchange strategists...
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...
From USD to Yuan: Countries Signaling Shift in Global Currency Usage
With China emerging as a dominant economic force in the global trade, concerns have been raised about the future of the US Dollar as the world’s primary reserve currency. Since the end of World War II, the dollar...
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...
Weekly Market Outlook: BoE dominates, US CPI data catches investors’ attention!
Weekly Market Outlook – After the recent FOMC and ECB decisions, it’s now the turn of the BoE to make its announcement on Thursday. Although there is already a strong expectation of a 25 basis points...
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...
What’s happening with the US Dollar? Why do countries ditch USD?
As several nations focus on enhancing their currencies, the dominance of the US dollar in the global monetary system is declining. Nouriel Roubini, also known as “Doctor Doom” for accurately forecasting the...
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...
Weekly Market Outlook: Another Round of Central Banks’ Rate Hikes
Weekly Market Outlook – This week will be crucial for the global financial markets as several central banks are scheduled to hold their monetary policy meetings. Investors and analysts will be closely monitoring these...
USD Rebounds ahead of PCE, JPY Underperforms following Dovish BoJ
The USD strengthened on Friday, while still on track to a monthly loss. Meanwhile, the Japanese yen plumbed following the Bank of Japan’s decision to maintain its ultra-loose monetary policy. USD eyes PCE...
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...
Weekly Market Outlook: US PCE, GDP and BOJ meet to watch!
Weekly Market Outlook – Traders have a lot of information to analyze in the last week of April. The Bank of Japan is set to conduct its initial policy meeting with Kazuo Ueda in charge. However, it’s...
Forex News: Rising US yields boost Dollar, Inflation boosts Pound
Forex news – On Wednesday, the dollar experienced a boost in strength due to an increase in Treasury yields. However, despite this, the pound managed to gain ground against the dollar, as British inflation...
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...
Weekly Market Outlook: Focus on Flash PMIs and Inflation Reports
Weekly Market Outlook – US dollar was negatively affected by mild inflation in the US and deflation in Asia before the weekend. The Fed is expected to cap its terminal rate at 5.25%, with a slight possibility of a...
Gold Targets New Peaks as Recession Fears Grow
Gold extended its three-day rally on Thursday following lower-than-expected U.S. inflation figures, which led to speculation that the Federal Reserve may pause an imminent rate hike. Additionally, concerns about a...
USD Subdued ahead of CPI Data and Fed Minutes – IMF Slashes Growth Outlook
The USD lost ground against major rivals on Wednesday as traders cautiously awaited further clues on Fed’s monetary policy from March inflation data later on the day followed by Fed’s meeting minutes...
Oil Sustains Gains above $80, USD Underperforms
Expectations of a decline in U.S. inventories and indications of strong demand in emerging markets led to a rise in oil prices on Tuesday. The recovery is supported by a combination of cautious optimism and a weaker USD...
Weekly Market Outlook: US CPI data, Fed minutes, and BoC decision to watch
Weekly Market Outlook – The beginning of this week is expected to be calm as Easter Monday will be observed by most of the economies on our radar. However, as the week progresses, the schedule is likely to become...
NFP Preview: How Will Job Numbers Affect the Fed’s Next Rate Hike?
The US dollar remained below the 102 mark on Friday, ahead of the non-farm payrolls report later on day. NFP preview indicate that US labor market is starting to feel the burden of tighter lending conditions and...
Forex News: Currencies Lose Steam Against the USD, Negative Outlook Unchanged
Forex News – Investors lowered their short positions for the greenback for profit taking ahead of the upcoming U.S. Non-farm Payrolls (NFP) report on Friday, leading to the recovery of the USD on Thursday after...
