Share: The New Zealand Dollar declines across the board on Friday but rebounds late in session. Kiwi weakness comes from a combination of a negative global growth outlook and US Dollar outperformance. Hawkish commentary from Fed Chair Powell set the US Dollar trending higher against the Kiwi, NZD/USD resumes decline. The New Zealand
Share: USD/JPY extends its rally for the fifth day, flirting with the 151.00 level, driven by rising US Treasury yields and Fed Chair Powell’s inflation concerns. Market sentiment shifts following the University of Michigan data, indicating lower confidence in the economic outlook and persistent inflation fears. Japanese Yen’s further decline is tempered by
Share: EUR/USD rallies amid a softer US labor market, with Nonfarm Payrolls missing the 180K target. Speculation grows for Fed rate cuts in H2 2024 as hiring slows and unemployment ticks up. Despite EU’s own economic slowdown, the Euro benefits from broad USD weakness and reduced rate hike bets. EUR/USD rallies during Friday’s
Share: EUR/GBP falls from a 5-month high of 0.8754, currently trading at 0.8705. Eurozone inflation drops to 2.9% in October, while GDP for Q3 misses forecasts, contracting by 0.1%. The Bank of England is expected to keep rates unchanged at 5.25% on November 2, as traders priced in rate cuts towards the end
Share: EUR/JPY trades at 158.06, down 0.48%, as BoJ normalization speculations gain traction. Escalating Middle East conflict bolsters safe-haven assets, including the Japanese Yen. ECB’s decision to hold rates and scaled back positions for further hikes also weighs on EUR/JPY. The Euro (EUR) lost a step against the Japanese Yen (JPY) on Friday,
Share: AUD/USD recovers from 0.6318 to trade around 0.6330s, up 0.22%. US core PCE at 3.7% YoY, below August’s data, with general inflation at 3.4%, in line with forecasts. Australian inflation above 5%, increasing the likelihood of another RBA rate hike in the near term. AUD/USD bounces off daily lows reached at 0.6318
Share: Japanese Yen rebounds after Tokyo inflation data increases bets the Bank of Japan (BoJ) will tighten policy. The US Dollar loses traction after US inflation comes out in line with estimates. The USD/JPY remains in uptrend but price falling to key make-or-break trendline for short-term chart. The Japanese Yen (JPY) has climbed
Share: Japanese Yen declines against the US Dollar due to broad risk aversion on Israel-Palestine tensions. FX market intervention from the Japanese authorities may have propped up the weakening Yen as USD/JPY passed the 150 threshold. In the US session, USD weakens after a raft of US data releases, including GDP and Jobless
Share: Australian Dollar weakens on fears of a credit crunch in the Chinese property sector. Hawkish commentary from the Governor of the RBA, Philip Lowe, temporarily staunches the bleeding. US factory gate inflation comes out higher than expected, however, supporting the US Dollar. The Australian Dollar (AUD) trades lower against the US Dollar
Share: Australian Dollar returns to its bearish course after China releases below-expectations trade figures for July. The data suggests Chinese demand for Australian raw materials will lessen. The US Dollar rises on increased safe-haven buying following the poor data. The Australian Dollar (AUD) dives to new monthly lows against the US Dollar (USD)
