October 24, 2022 8:51 am
The Japanese Yen received only a brief support against the US Dollar on Monday as a result of a suspected Bank of Japan intervention in the market. The USD/JPY pair reached an intraday high at 149.70 during the early phase of the Asian trading session, after which it plunged to 145.28 in a matter of […]
Read moreOctober 18, 2022 8:55 am
AUD/USD extended a rebound from last week’s 30-month trough on Tuesday, after Reserve Bank of Australia’s Deputy Governor Michele Bullock said the central bank would raise interest rates further during the upcoming months and it could keep up with the tightening cycle of its peers across the globe with more frequent, smaller rate increases. Meanwhile, […]
Read moreOctober 17, 2022 9:04 am
Having reached a 32-year peak of 148.86 last Friday on firm US Dollar and surging US Treasury yields, the USD/JPY pair was trading just below that level at the start of the new week. The Japanese currency remains at risk of depreciating further to the psychological level of 150, which market players believe may prompt […]
Read moreOctober 10, 2022 8:06 am
EUR/USD retreated for a fourth straight day on Monday, as rising energy prices and geopolitical tension continued weighing on the single currency, while robust US job growth and high CPI inflation forecast added to the case for higher interest rates, underpinning the greenback. Friday’s data string revealed solid growth in US Non-Farm Payrolls and an […]
Read moreOctober 5, 2022 9:19 am
NZD/USD briefly touched a fresh 1 1/2-week high on Wednesday, after the Reserve Bank of New Zealand lifted its official cash rate by 50 basis points to 3.5%, a level unseen since April 2015, at its October meeting. This has been the fifth consecutive 50 basis point hike. RBNZ policy makers considered core CPI inflation […]
Read moreOctober 4, 2022 8:52 am
The Aussie Dollar pared earlier losses against its US counterpart on Tuesday, which it recorded after the Reserve Bank of Australia surprised market players with a smaller-than-anticipated interest rate hike. The RBA raised its cash rate by 25 basis points to 2.60% at its October policy meeting earlier on Tuesday, while confounding market expectations of […]
Read moreOctober 3, 2022 8:21 am
EUR/USD came off recent one-week highs on Monday, as expectations for another sizable interest rate hike by the European Central Bank later in October reinforced concerns the Eurozone economy could enter a recessionary period. Last week, the annual CPI inflation in the Euro Area was reported to have accelerated to 10.0% in September from 9.1% […]
Read moreSeptember 28, 2022 9:11 am
EUR/USD was trading near its weakest level since June 2002 on Wednesday, as rising interest rates globally reinforced recession concerns, propelling the safe haven US Dollar to a new 20-year peak against peers. The yield on benchmark US 10-year Treasuries exceeded 4% for the first time since 2010, while 2-year yield was at 4.28%. “It’s […]
Read moreSeptember 27, 2022 9:28 am
Having touched a fresh 28-month trough on Monday, AUD/USD saw a certain rebound on Tuesday, as oversold investor positions were pared and volatility eased a bit. But since the US Dollar remained firm on expectations US interest rates will probably stay higher for a longer period, risk-sensitive currencies such as the Aussie were still experiencing […]
Read moreSeptember 20, 2022 9:10 am
AUD/USD was trading in proximity to last Friday’s 27 1/2-month low of 0.6670 on Tuesday, as the US Dollar remained strong on expectations of another aggressive interest rate hike by the Federal Reserve this week in an attempt to curb red-hot inflation. The greenback also received support from higher bond yields. The yield on US […]
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