Share: USD/CAD seems biased to move downward despite the weakening in Crude oil prices. WTI prices lose ground on an unexpected delay in an upcoming OPEC+ meeting. US economic data turn investors to perceive persistent inflation in the country. USD/CAD seems to extend its losses for the third consecutive session, trading slightly lower
Share: USD/CAD trades higher post losses registered in the previous session. Canada inflation (YoY) fell to 3.1% in October, down from 3.8% prior. The decline in Crude oil prices could weigh on the CAD. US Dollar faces challenges despite improved US bond yields. USD/CAD recovers its intraday losses, hovering around the psychological level
Share: WTI prices trade in positive territory for the third consecutive day on Tuesday. Saudi Arabia is planning to prolong oil production cuts of 1 million barrels per day through next year. The concern about a slowing global economy outweighed the prospect of deepening supply cuts by OPEC+. Oil traders will focus on
Share: Reserve Bank of Australia (RBA) Governor Michele Bullock said on Tuesday that inflation will be the major challenge for the economy over the next two years. Key quotes “Underlying demand was fueling part of the inflation challenge, and it was not entirely a supply-driven issue.” “Says inflation is a crucial challenge in
Share: USD/CAD loses traction above the 1.3700 mark on Monday. Traders believe the Fed is done with the hiking cycle and expect the Fed will begin easing monetary policy in May 2024. FOMC Meeting Minutes and Canadian CPI will be closely watched events. The USD/CAD pair trades in negative territory for the second
Share: The Greenback opens higher this Friday though fails to hold on to gains. Traders can let the dust settle in a very light calendar ahead of the festivities next week. The US Dollar Index is steady above 104, though faces some pressure towards the weekend. The US Dollar (USD) gave traders and
Share: NZD/USD continues the downward trajectory for more than a week. NZD faces downward pressure as New Zealand’s Food Price Index fell 0.9% in October. Goldman Sachs anticipates the RBNZ to commence rate cuts starting in the fourth quarter of 2024. US inflation could grow but at a slower pace, which could put pressure
Share: NZD/USD weakens as RBNZ’s inflation report suggests an economic slowdown. Kiwi’s Business Services Index fell from the previous reading of 50.7 to 48.9. Downbeat Chinese inflation could impact the Kiwi Dollar. US-China Presidential meeting is scheduled for Wednesday during the Asia-Pacific Economic Cooperation summit in San Francisco. NZD/USD is caught in a
Share: Australian Dollar could continue its downward trajectory. Australia’s central bank adopted a dovish stance in their recent meeting. US Dollar seems lukewarm, despite the positive tone of US bond yields. The Australian Dollar (AUD) aims to continue a week-long slump while the US Dollar (USD) keeps weakening on Monday despite higher US Treasury
Share: S&P 500 rises 1.54%, closing at 4,414.57, marking its seventh consecutive week of gains. Nasdaq 100 and Dow Jones Industrial also post gains, with technology and consumer sectors leading. Market players overlook Fed Chair Jerome Powell’s hawkish comments, focusing instead on mixed economic data. Upcoming week to focus on US inflation data,
