August 23, 2023 7:59 am
GBP/CAD edged higher in calm trade on Wednesday, while being not far from recently registered 1-month high, ahead of the release of key macro data prints out of both the UK and Canada. The S&P Global/CIPS UK Services Purchasing Managers’ Index probably decreased to 51.0 in August from a final reading of 51.5 in July. […]
Read moreAugust 21, 2023 9:26 am
The South African Rand began the new week on the back foot against the US Dollar ahead of the BRICS summit and the South African CPI inflation numbers for July. South Africa will host the BRICS summit of emerging market economies from Tuesday to Thursday, with the bloc’s potential expansion being on the agenda. The […]
Read moreAugust 21, 2023 7:27 am
The Australian Dollar steadied against its US counterpart on Monday, being not far from last week’s 9 1/2-month low, as market players looked to the Federal Reserve’s Jackson Hole symposium for interest rate guidance. The Aussie dollar, a liquid proxy for the Chinese Yuan, was still under pressure after China’s move on benchmark lending rates […]
Read moreAugust 18, 2023 7:38 am
After closing at a record low level of 83.1475 per dollar on Thursday, India’s Rupee was slightly firmer on Friday as the US Dollar and US Treasury yields retreated from recent highs. India’s currency has faced considerable selling pressure in recent trading sessions, which prompted the Reserve Bank of India to step in, selling US […]
Read moreAugust 17, 2023 9:35 am
The Norwegian Krone bounced from a five-week trough against the US Dollar on Thursday, after Norges Bank raised its key policy rate by 25 basis points to 4% at its August meeting, in line with market expectations. With interest rates now being at their highest level since 2008, Norway’s central bank said it would likely […]
Read moreAugust 17, 2023 7:27 am
The Australian Dollar extended losses against its Canadian counterpart, hitting a fresh 42-week low on Thursday, after Australian jobs data for July confounded market expectations and brought forth speculation the Reserve Bank of Australia might have completed its policy tightening cycle. The Aussie dollar has also been pressured as a result of the sharp deterioration […]
Read moreAugust 16, 2023 9:20 am
The British Pound surged to a fresh one-month high against the Canadian Dollar on Wednesday after the most recent UK CPI inflation data added to the case for more interest rate hikes by the Bank of England. Annual headline consumer price inflation in the UK slowed to 6.8% in July, marking its lowest level since […]
Read moreAugust 16, 2023 7:16 am
The New Zealand Dollar firmed against the Euro on Wednesday after the Reserve Bank of New Zealand left its official cash rate without change at 5.5% during its August meeting and said it did not expect to begin rate cuts until the first half of 2025. The RBNZ held the OCR at the current level […]
Read moreAugust 15, 2023 7:55 am
The South African Rand extended losses against the US Dollar on Tuesday, as heightening concerns over China’s post-COVID recovery pressured the emerging market currency. Yesterday the Rand retreated to a fresh 10-week low against the greenback, as it was undermined by more woes in China’s property market. China is a key trading partner to South […]
Read moreAugust 14, 2023 7:56 am
AUD/JPY retreated for a second straight trading day on Monday, pulling back from a 1 1/2-week high, as concerns over China’s economic recovery heightened. Last week, China, Australia’s largest export market, reported disappointing trade and CPI inflation figures, mounting pressure on the risk-sensitive Australian currency. The Aussie dollar was also undermined by more woes in […]
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