The USD/JPY pair has managed to gain some positive traction on Monday, but it is struggling to capitalize on the move. Despite reaching the 148.00 mark in the Asian session, the pair has dropped to a fresh daily low in the recent hours, trading below mid-147.00s. This vulnerability indicates a potential retracement slide from a
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The NZD/JPY pair has experienced a mild increase, reaching a level of 89.30 and testing the important 20-day Simple Moving Average (SMA). This signifies a potential shift in the movement of the currency pair, as it hovers near this key technical indicator. Upon closer examination, it is evident that the Relative Strength Index (RSI) is
After the release of the University of Michigan’s Consumer Sentiment Index figures and the housing market data, the US Dollar (USD) showed a decline. Despite this, markets still maintain confidence in a potential cut in September. This confidence implies that investors are expecting further easing by the Federal Reserve (Fed) in the near future. The
The Australian Dollar (AUD) saw a rise against the US Dollar (USD), climbing to 0.6950. This increase was fueled by comments from Reserve Bank of Australia’s (RBA) Governor Michele Bullock, who maintained a hawkish stance. Despite mixed economic forecasts and rising inflation, the RBA’s commitment to its current policy stance has led to market expectations
Silver prices are influenced by a variety of factors, ranging from geopolitical instability to the behavior of the US Dollar. Geopolitical tensions or fears of a deep recession can drive up the price of Silver as investors seek out safe-haven assets. However, it is important to note that Silver’s status as a safe haven is
The AUD/JPY cross has gained momentum near 97.55 in Thursday’s Asian session, marking an increase of 0.36% on the day. This positive movement can be attributed to the improved Chinese July Retail Sales data, which has provided a boost to the Australian Dollar (AUD). The National Bureau of Statistics of China reported that China’s Retail
The recent data shows that the US Dollar Index (DXY) has been dropping to multi-day lows, hovering around 102.30. This can be attributed to the persisting disinflationary pressures in the US economy. Despite a busy economic calendar ahead, featuring various key data releases and Fed speeches, the Greenback seems to be struggling to gain momentum.
The USD/CHF pair has been trading positively for the second day in a row, hovering around 0.8670 during the Asian session. Investors are keeping an eye on the upcoming US July PPI report, which is expected to be released later in the day. There is a sense of caution in the market as traders await
The USD/CAD pair is currently trading around 1.3740 in the Asian session, showing a slight uptrend. Traders are in a holding pattern as they await key US economic data releases. The upcoming US Producer Price Index (PPI) report and the speech by the Federal Reserve’s Raphael W. Bostic are expected to provide fresh insights and
The AUD/USD pair recorded a significant increase during Monday’s trading session, settling near 0.6600. This surge can be attributed to the Reserve Bank of Australia’s (RBA) steadfast hawkish position, which has bolstered the Australian Dollar. Additionally, strong Chinese inflation data from the previous week has also contributed to the Aussie’s strength in the forex market.
Despite Banxico’s surprising decision to lower rates by 25 basis points in a 3-2 split decision, the demand for the Mexican Peso continues to increase. This decision, signaling further easing ahead, comes amidst inflation risks and growth concerns in the country. The central bank’s projection for core inflation to dip below 4% by Q4 2024
The AUD/USD pair experienced a slight retreat on Friday, settling near 0.6575 after a modest descent of 0.30%. The Reserve Bank of Australia (RBA) continued to maintain a hawkish stance which contributed to the strength of the Australian Dollar. Additionally, the release of stronger Chinese inflation figures during the European session provided further support for