Canadian Dollar markets flatten out in quiet Monday trading
The Canadian Dollar (CAD) sees thin action on Monday to kick off the trading week with limited momentum across the major currency board. CAD traders will be looking ahead to Wednesday’s rate call from the Bank of Canada (BoC), and markets are set for a blustery Friday to end the week with a fresh print […]
EUR/JPY: The Euro loses steam as German Producer Prices drop beyond expectations
In Japan, the soft inflation data is weighing on a sharper JPY recovery. EUR/JPY faces a significant resistance at 161.80. The Euro retreated against the Japanese Yen ahead of Friday’s European session opening. Weak German PPI data weighed on the Common currency, which found buyers in the upper ranges of 160.00. German Producer Prices declined […]
Gold price discovers bets near $2,000
Gold price (XAU/USD) has executed a short-term recovery move in the midst of a persistent downtrend. Gold price printed a fresh monthly low near the psychological support of $2,000 on Wednesday, then bounced. Yet despite the rebound, the precious metal remains on the backfoot as investors continue to worry about when the Federal Reserve (Fed) […]
USD/JPY: The Greenback pushes higher as US Retail Sales beat expectations
The US Dollar has turned higher again on Wednesday, to test resistance at the 148.00 psychological level, boosted by higher-than-expected US Retail Sales figures. Retail Consumption increased at a 0.6% pace in December, above November’s 0.3% increase and beating expectations of a 0.4% increase. Excluding automobiles, sales of other products rose at a 0.4% pace, […]
The US Dollar trades in the green across the board
The US Dollar (USD) is seeing its status as King within reach with the US Dollar Index (DXY) popping above a few important technical levels. The move comes with markets finally realizing that rate cuts will not take place before June for either the US Federal Reserve (Fed), the European Central Bank (ECB) and the […]
AUD/USD dips pressured by rising US Treasury yields
The Australian Dollar (AUD) tumbles sharply against the US Dollar (USD) as US Treasury yields climb and the Greenback (USD) posts solid gains of more than 0.50% via the US Dollar Index (DXY). Expectations that the US Federal Reserve (Fed) would cut rates in the year had been tempered, a headwind for the AUD/USD pair, […]
15.01 – Gold price is aiming to reclaim weekly high
Gold price (XAU/USD) continues to enjoy decent demand on Monday’s European session amid multiple tailwinds. The precious metal is attracting investments as market participants seem more convinced about the Federal Reserve (Fed) reducing borrowing costs from March after the release of the surprisingly soft Producer Price Index (PPI) numbers for December. Investors expect that a […]
The USD/JPY is gravitating towards the 144.70 level
In Friday’s trading session, USD/JPY encountered a setback, currently trading around 144.70 with losses of 0.40%. This downward movement is driven by the soft Producer Price Index (PPI), but escalating tensions in the Red Sea region may drive demand back to the US Dollar. On the data front, the US Final Demand Producer Price Index […]
11.01 – The AUD/USD fell below the 0.6700 level
The Australian Dollar (AUD) softened on Thursday, tallying losses against the US dollar (USD), with the pair reaching near the 0.6685 mark. Major contributors to this downturn movement are the surprisingly higher than-anticipated Consumer Price Index (CPI) data from the United States, which made dovish bets on the Federal Reserve (Fed) ease. On Thursday, the […]
10.01 -DXY Index registers minor losses, trading around 102.40
The US Dollar (USD) observed modest losses on Wednesday, trailing at 102.4 in the US Dollar Index, as market participants stick to the sidelines awaiting drivers. The trading floors were relatively quiet with no significant reports fuelling reactions during the session. The focus is set on the release of the US Consumer Price Index (CPI) […]