September 5, 2023 7:22 am
AUD/JPY lost ground sharply on Tuesday after the Reserve Bank of Australia left its cash rate without change at 4.1% at its September meeting, in line with expectations. The central bank extended the rate pause for a third consecutive month, while adding to market speculation its policy tightening cycle could be over. Policy makers noted […]
Read moreSeptember 4, 2023 9:40 am
USD/JPY was a notch firmer on Monday, being not far from last week’s 9 1/2-month high, with trading volumes likely to remain light due to the Labor Day federal holiday in the United States. As the major Forex pair continues to trade in the area around the psychological 145 level, market players are still on […]
Read moreSeptember 4, 2023 7:40 am
USD/CAD was little changed in thinned trading on Monday, as market players mulled the latest US employment data prints, which hinted at certain cooling. Those macroeconomic figures also added to expectations that the Federal Reserve may be nearing the end of its policy tightening cycle. Data showed on Friday that the US economy had added […]
Read moreSeptember 1, 2023 8:04 am
The British Pound steadied against the Canadian Dollar on Friday after a 0.56% slump the day before ahead of the release of UK manufacturing and Canadian GDP growth data. Yesterday the Sterling lost ground against major peers after Bank of England Chief Economist Huw Pill said policy makers would “see the job through” on bringing […]
Read moreAugust 31, 2023 7:23 am
The Euro weakened against the New Zealand Dollar on Thursday, after data showed French consumer price inflation had accelerated in August and German retail sales had unexpectedly dropped in July. France’s annual CPI inflation came in at 4.8% in August, picking up from 4.3% in July and also exceeding market consensus of 4.6%. The inflation […]
Read moreAugust 30, 2023 7:28 am
The Australian Dollar pared earlier losses against its Canadian counterpart on Wednesday, which came after data showed Australian inflation had slowed to a 17-month trough in July. Australia’s annual CPI inflation stood at 4.9% in July, easing from 5.4% in June. A consensus of analyst estimates had pointed to a lesser drop – to 5.2%. […]
Read moreAugust 29, 2023 9:32 am
The South African Rand advanced against the US Dollar on Tuesday in an attempt to extend last week’s 1.9% gain, as market players looked to South African PPI and trade balance reports along with international data in what appears to be a busy week. Statistics South Africa is due to release the official Producer Price […]
Read moreAugust 29, 2023 7:36 am
India’s Rupee traded within a relatively narrow range against a softer US Dollar on Tuesday and as US Treasury yields dropped. The USD/INR pair continued to hover above recent three-week low of 82.3775, while dollar demand from corporate entities heightened. “The big corporates (who are importers) are quite active on the dips (on USD/INR), which, […]
Read moreAugust 28, 2023 7:14 am
The Australian Dollar got a lift on Monday after China announced a stamp duty cut on stock trades “to invigorate the capital market and boost investor confidence.” Additional boost came on the back of a softer US Dollar, which pulled back from a 12-week high, after Federal Reserve Chair Jerome Powell did not rule out […]
Read moreAugust 23, 2023 9:28 am
EUR/CAD extended losses on Wednesday, further pulling back from recent 1-week high, after Germany’s private sector activity shrank at the sharpest rate since the aftermath of the COVID-19 outbreak in May 2020. The HCOB Germany Composite Purchasing Managers’ Index plummeted to a reading of 44.7 in August, or much more than expected, from 48.5 in […]
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