The Australian Dollar edged slightly higher against the US Dollar today, trading between 0.6550 and 0.6570, marking a slight increase of 0.02%. This modest uptick comes despite concerning indicators of an economic downturn in Australia. The Judo Bank Manufacturing Purchasing Managers’ Index (PMI) has reached a multi-year low, dropping to 47.7. Similarly, the Services PMI
© Reuters. As US traders took a break for Thanksgiving today, the (DXY), a measure of the currency’s strength against a basket of other major currencies, dipped below the 104 mark. This movement suggests a potential weekly decline for the dollar. The quietness in the markets coincides with the annual holiday closure, which often leads
© Reuters. The People’s Bank of China (PBOC) set the daily reference rate for the yuan at 7.1212 per dollar today, marking a decrease from the previous session’s fix of 7.1254. This adjustment in the central rate came in lower than market analysts had anticipated, with predictions having been set around 7.1512. The PBOC’s setting
© Reuters. The currency pair experienced a pullback during Thursday’s Asian trading session as market participants weighed the prospects of a hawkish turn in the Bank of Japan’s (BoJ) policy against a backdrop of uncertainty regarding future Federal Reserve rate hikes. Despite a brief recovery from its monthly low on Tuesday, the pair failed to
© Reuters. The currency pair took a sharp dive today, reaching a level of 1.2456, which represents about a 0.63% decrease. This movement is largely attributed to recent U.S. economic data suggesting that inflationary pressures remain and the economy may be deliberately slowing down as part of the Federal Reserve’s broader strategy. The University of
© Reuters. The currency pair continued its rise for the fourth day, buoyed by expectations around monetary policy on both sides of the Atlantic. The pound strengthened against the dollar, building on gains above its September high, as market sentiment turned cautious regarding further interest rate hikes by the Federal Reserve, according to minutes from
© Reuters. Investing.com– Most Asian currencies moved little on Wednesday, while the dollar stemmed recent declines after the minutes of the Federal Reserve’s late-October meeting reiterated the bank’s outlook on higher-for-longer interest rates. Regional currencies saw a measure of profit taking after a strong run-up in the past two sessions, as markets priced in bets
© Reuters. The exchange rate climbed to €1.1453 today, bolstered by hawkish comments from Bank of England (BoE) officials during a UK Treasury committee session. Governor Andrew Bailey and Deputy Governor Dave Ramsden discussed measures to combat persistent service inflation, targeting a strict 2% goal. The Pound’s strength was further supported by the UK’s public
© Reuters. The euro fell sharply against the British pound on Tuesday, trading near a low of 0.8700 after officials from the Bank of England delivered hawkish remarks during a UK Parliament testimony. The central bank’s unified policy stance against persistent inflation and warnings about increasing inflation pressures in the coming years contributed to the
© Reuters The Mexican peso’s recent surge against the US dollar took a breather today with the pair ticking up to 17.18, despite a general weakness in the dollar across Forex markets. Investors are closely watching Mexico’s economic indicators, such as retail sales and mid-November inflation data, which are expected to influence the Bank of
