Share: AUD/USD refreshes weekly low near 0.6560 as the broader market mood is risk-off. Fed Powell considered current monetary policy as inadequate to bring down inflation to 2%. The RBA MPS report indicated that further tightening would be largely dependent on incoming data. The AUD/USD pair continues its losing streak for the fifth
Share: Pound Sterling may continue its three-day losing spell further amid uncertainty over the economic outlook. S&P Global reported that UK Services PMI contracted for the second time straight. BoE policymakers shifted focus on the UK’s economic prospects against persistent inflationary pressure. The Pound Sterling (GBP) faces selling pressure as investors start worrying
RAND TALKING POINTS & ANALYSIS SA mining data , US PPI, retail sales and jobless claims data pool together to limit rand upside. Michigan consumer sentiment the focal point tomorrow. USD/ZAR seeks fundamental catalyst as prices hover around key resistance zone. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market
Oil Prices, Charts, and Analysis The People’s Bank of China (PBoC) unexpectedly cut borrowing costs. Oil may look to consolidate recent gains. Recommended by Nick Cawley How to Trade Oil The People’s Bank of China (PBoC) unexpectedly cut its one-year medium-term lending facility – the rate at which Chinese banks borrow money from the PBoC
Share: US crude oil benchmark, WTI, rises for the third consecutive day, trading at $83.48, up by 0.80%. Oil demand is predicted to grow by 2.25 million bpd in 2024, down from 2024’s 2.44 million bpd, according to OPEC+. Weakness in China’s economy could dent oil demand. Western Texas Intermediate (WTI), the US
