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
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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
The most recent Consumer Price Index (CPI) report from China for the month of July revealed some interesting data. According to MUFG FX analyst Lee Hardman, the headline inflation increased slightly by 0.3 points to 0.5% in July. However, the core measure of inflation saw a decline to 0.4% from 0.6% in the previous months.
The GBP/USD pair has seen an uptrend in recent days, with the US Federal Reserve expected to implement a rate cut in September. The CME FedWatch tool indicates that markets are fully pricing in a quarter-basis point interest rate cut by the Fed next month. This anticipation of a rate cut is putting pressure on
Jeffrey Schmid of the Federal Reserve Bank of Kansas City recently expressed his opinion on the current state of inflation and monetary policy. He stated that if inflation continues to come in low, it would be appropriate to adjust policy accordingly. Schmid mentioned that the Fed’s current stance on policy is not overly restrictive and
The Australian Dollar (AUD) rose near 0.6580 during recent trading sessions, marking a significant increase of 0.80%. This surge can be attributed to the Reserve Bank of Australia’s (RBA) reaffirmation of their hawkish tone and a boost in commodity prices which has made the AUD a strong performer in the market. The RBA has maintained
The New Zealand Dollar (NZD) saw a surge in value against the US Dollar (USD) following the release of better-than-expected employment data. The number of employed people in New Zealand increased by 0.4% in the second quarter, surpassing market expectations and marking a significant improvement from the previous quarter. Additionally, the unemployment rate rose less