Share: The DXY Index declined to 103.45, a 0.30% loss. The index will tally a 0.30% weekly loss as well. S&P PMIs showed a mixed outlook, with the manufacturing sector weakening and the service sector expanding. The US Dollar (USD) is receding on Friday with the DXY index, which measures the value of
Share: Gold price declines as capital shifts toward riskier assets due to improved risk sentiment. Gold demand is reduced due to the resurgence in US Treasury yields. Upbeat China’s Trade Balance data could provide support for the price of the precious metal. Gold price losses more ground, which can be attributed to the prevailing optimistic
This week there have been some big shifts on the market’s thinking around the path of Fed policy. Given the market moves, it’s no surprise that’s in a dovish direction. At the start of the week, the Fed funds futures market was pricing in 74 bps of rate cuts by the end of 2024. That’s
In the latest development in the currency market, the experienced a dip from 151.70 to under 151.20 following hinted intervention by Japanese officials. Officials Kanda, Suzuki, and Matsuno expressed their concern against “one-sided,” “speculative,” and “disorderly” movements, which led to this shift. Following this, the AUD and NZD rebounded after initial depreciation against the USD.
Share: Pound Sterling trades in a tight range as investors eye BoE monetary policy decision for further action. The BoE is expected to keep interest rates unchanged amid easing labor market conditions and subdued retail demand. Deepening Middle East tensions dent demand for risk-perceived assets. The Pound Sterling (GBP) struggles to find a
Share: The US Dollar is trading soft against its rivals and seems to be consolidating the last session’s gains. The Core PCE from September matched expectations at 3.7% YoY. The US bond yields are mixed, while dovish bets on the Fed remain high. Focus now shifts to next week’s Fed decision. The US
Christopher Luxon Keep an eye on the New Zealand dollar at the weekly open. In general, G7 elections aren’t a big deal in the FX market, particularly in a place as stable as New Zealand but this one turned out far different than polls had show. The National Party and Liberals were polling close to
The AUDUSD sellers had their shot this week with a move outside of the “Red Box” that has confined the pair between 0.6356 and 0.65214 for 7 trading weeks now. The failure to break – and move lower this week – has given the buyers a go-ahead to push higher midweek. Yesterday the price returned
Share: AUD/USD finds nominal selling pressure near 0.6500 while more upside remains favored. Soft US core PCE inflation data dragged the 10-year US Treasury yields to 4.5%. The RBA is expected to keep interest rates unchanged but the interest rate peak is seen at 4.35% by the year-end. The AUD/USD pair rallied to
The echoes of the recent BRICS summit resonate with significance, promising to cast ripples across the market’s landscape. As the curtains fall, let’s unpack the main takeaways that hold the potential to reshape market dynamics in profound ways. In a bold stride, BRICS leaders have extended a hand to welcome new allies into their fold.
