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EUR/AUD comes off 15-week high as Australia exports hit 10-month high

March 7, 2024 9:05 am
The EUR/AUD currency pair extended a pullback from recent 15-week high on Thursday following Australia’s trade figures for January and ahead of the outcome of the ECB’s March policy meeting. Australia’s trade surplus was reported to have widened to AUD 11.027 billion in January from a revised down AUD 10.74 billion in December. Exports rose […] Read more

EUR/CAD confined in tight range with ECB meeting in focus

March 7, 2024 7:28 am
The EUR/CAD currency pair traded within a tight range on Thursday, as market players awaited the outcome of the ECB’s March policy meeting. The European Central Bank is largely expected to leave the main refinancing operations rate unchanged at a 22-year high of 4.5% and the deposit facility rate – at an all-time high of […] Read more

AUD/CAD hits 1-week high as slowing GDP growth adds to RBA cut case

March 6, 2024 8:24 am
The AUD/CAD currency pair firmed to a one-week high on Wednesday, after data revealed below-forecast GDP growth in Australia and ahead of the outcome of the Bank of Canada’s March policy meeting. Australia’s economy grew 0.2% quarter-on-quarter in Q4, following a revised up 0.3% growth in Q3 and below market consensus of 0.3%. It has […] Read more

Euro Area inflation eases less than forecast, EUR/USD flat

March 1, 2024 10:25 am
Euro Area’s annual consumer inflation rate slowed to 2.6% in February from 2.8% in January, the preliminary data by Eurostat showed. Market consensus had pointed to a larger drop to 2.5%. February’s rate has been the lowest in three months, but it still remained above the European Central Bank’s inflation objective of 2%. Last month, […] Read more

Canada’s GDP expands 0.2% in fourth quarter

February 29, 2024 1:55 pm
Canada’s economy expanded 0.2% quarter-on-quarter in Q4, the latest data by Statistics Canada showed, following a revised up 0.1% contraction in Q3. Last quarter, Canada’s exports of goods and services surged 1.4%, mostly supported by a 6.2% increase in shipments of crude oil and crude bitumen. Total imports of goods and services went down 0.4% […] Read more

Switzerland’s GDP growth beats estimates, USD/CHF steady

February 29, 2024 8:32 am
Switzerland’s economy grew 0.3% quarter-on-quarter in Q4 of 2023, the latest data by the State Secretariat for Economic Affairs showed. The latter matched the rate of growth in the previous quarter and exceeded a consensus of analyst estimates of a 0.1% expansion. The country’s manufacturing sector registered a 0.1% contraction in Q4, as exports in […] Read more

Euro Area’s Feb economic sentiment weakens, EUR/USD falls

February 28, 2024 10:47 am
Euro Area’s economic sentiment surprisingly deteriorated in February, the latest data by the European Commission showed. The economic sentiment indicator came in at a reading of 95.4 in February, down from 96.1 in the prior month and below market expectations of 96.7. Sentiment was still subdued, as corporate entities and consumers looked to weather persistently […] Read more

GBP/NZD surges as RBNZ tones down hawkish stance

February 28, 2024 8:24 am
The GBP/NZD currency pair rose sharply on Wednesday, after the Reserve Bank of New Zealand delivered a less hawkish message than some had expected at its February policy meeting. The central bank kept its official cash rate unchanged at 5.5%, in line with market consensus, while extending the rate pause for a fifth consecutive meeting. […] Read more

USD/SEK hovers above 6-week low with US, Sweden data eyed

February 27, 2024 12:41 pm
The USD/SEK currency pair edged higher on Tuesday, but hovered just above a 6-week low of 10.2475, as market players looked ahead of key US and Swedish macro data prints due to be released later in the week. The second estimate of US GDP growth for Q4 is slated to be released tomorrow. The US […] Read more

NZD/USD comes off 5-week peak ahead of RBNZ, US data string

February 27, 2024 9:55 am
The NZD/USD currency pair traded little changed on Tuesday, after pulling back from a 5-week high of 0.6218, ahead of the outcome of the RBNZ’s policy meeting on February 28th. Market players will also pay attention to several key US macro data prints later this week, which may provide fresh clues regarding the timing of […] Read more