© Reuters The euro continues to experience a downturn, primarily driven by the risk-off sentiment due to escalating conflicts in the Middle East. This has led investors to favor the dollar over the European currency, contributing to its weakening. The situation is further exacerbated by China’s disappointing Golden Week spending and a significant contraction in
ISM Services PMI Reading Drops but the Outlook Remains Positive The services sector is the largest by far and contributes the most to total US GDP. As such, it provides a crucial signal of the overall health of the US economy. The PMI report aggregates opinions of the companies’ purchasing managers who often see shifts
© Reuters. Monday saw the U.S. Dollar reach its highest level since March, as investors sought safer options amidst speculation that central banks would maintain high interest rates to curb inflation. This development coincided with a decline in U.S. government bonds, while stocks remained steady. The and the , heavily influenced by technology companies, showed
© Reuters. The US Federal Reserve’s decision to maintain interest rates at the 5.25%-5.50% range during its monetary policy meeting on Wednesday, September 20, 2023, has had global impacts. The Fed’s hawkish stance towards monetary policy, aimed at curbing inflation without causing significant job losses or economic downturns, has led to a strengthening of the
OIL PRICE FORECAST: Oil Continues to Advance as Supply Concerns and a Potential Rebound in Demand Keep Prices Elevated. Saudi Energy Minister to Provide a Further Update this Week on the Potential for Further Cuts or an Extension into 2024. IG Client Sentiment Shows Traders are 64% Net-Short on WTI at Present, Down from 79%
USD/JPY Analysis USD/JPY edges higher after uptick in US CPI reinforces ‘higher for longer’ narrative Fed forecasts in focus as markets look for confirmation on peak rates and CPI forecasts IG client sentiment hints at bullish fatigue as recent positioning data reveals a change in course The analysis in this article makes use of chart
Japanese Yen (USD/JPY, EUR/JPY) Analysis Ueda’s Nod to Rate Normalisation Fades as Focus Shifts to US CPI The yen made a partial recovery/pullback after the Bank of Japan (BoJ) Governor Kazuo Ueda expressed a view that the bank will have enough data at their disposal to make a decision on stepping away from negative interest
© Reuters. Investing.com – The U.S. dollar edged lower in early European trade Wednesday, but remained near a six-month peak as global growth concerns weighed on risk appetite. At 03:20 ET (07:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 104.612, not far off
Share: US Dollar Index remains dicey after a downbeat start to the week that snapped two-day winning streak. Mixed US data, unimpressive Fed talks confirms September inaction, odds of witnessing one rate hike in 2023 defend DXY bulls. US Labor Day holiday, China-inspired risk-on mood allowed Greenback buyers to take a breather. US
Share: Natural Gas could fall as demand remains tepid and stockpiles high. The US Dollar is taking a step back with weak US data ahead of the jobs report. Expect a sideways to lower gas price as supply starts to build with less demand. Natural Gas could be retreating from its peak print in recent
