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ForexLive European FX news wrap: Yen firms as yields stay heavy

Sep 13, 2024 | 04:27 am

Headlines:USD/JPY stays pressured as lower yields weighECB's Muller: Temporary acceleration in inflation is likelyECB's Holzmann: There could be room for another rate cut in DecemberECB's Villeroy: We should continue to reduce gradually and as appropriateECB's Rehn says will continue to base policy decisions on assessment of inflation outlookECB's Vasle: We are not committed to any predetermined rate pathECB's Nagel: Core inflation is going in the right directionUS reportedly finalises steep tariffs on China, with many to begin on 27 SeptemberChina approves the plan to raise the retirement age for the first time since 1978Boeing US factory workers vote to go on strike, reject pay dealFrance August final CPI +1.8% vs +1.9% y/y prelimEurozone July industrial production -0.3% vs -0.5% m/m expectedMarkes:JPY leads, AUD lags on the dayEuropean equities higher; S&P 500 futures up 0.2%US 10-year yields down 3.4 bps to 3.645%Gold up 0.4% to $2,567.88WTI crude up 1.1% to $69.75Bitcoin up 0.1% to $58,225There weren't any major headlines on the session but there were some decent market moves to be had. In particular, bond yields are staying pressured and that is weighing on USD/JPY again.10-year yields in the US fell as low as 3.62% and that pulled USD/JPY to a low of 140.36 during the session. Yields are now at 3.64% but still down by over 3 bps, helping to see USD/JPY nudge back a little to 140.70 - still down 0.8% on the day though.All of this comes after the action from yesterday, as traders step up bets for a 50 bps rate cut by the Fed for next week. In part, that can be attributed to Fed watcher Tsimiraos tossing said idea into the mix.Looking at the dollar, it is holding more mixed on the session as it trades lower against the Swiss franc and euro but higher against the aussie and kiwi.ECB policymakers did come out in droves to speak their views after the decision yesterday, but all were mainly echoing what Lagarde already mentioned.In other markets, equities continue to put on a more positive front with US futures also sitting a little higher again on the day. As for gold, the run higher continues with the precious metal keeping with the technical breakout to fresh record highs yesterday. It is now trading up by another 0.4% to $2,567. This article was written by Justin Low at www.forexlive.com.

US reportedly finalises steep tariffs on China, with many to begin on 27 September

Sep 13, 2024 | 03:08 am

This will include steep tariff hikes on Chinese EVs, solar cells, semiconductors, and steel among other strategic goods. More specifically, it will be a 100% duty on Chinese EVs, 50% on solar cells, and 25% on steel, aluminum and key minerals. All of which will be going into effect on 27 September.As for a 50% duty on Chinese semiconductors, that will be due to start in 2025.Besides that, there will also be increases in tariffs on Chinese medical face masks and surgical gloves to 50% next year and then to 100% in 2026. That compares with the initial plan for an immediate 25% tariff. But the ones mentioned above are the heavy hitters.Well, it looks like this is Biden's parting gift before he steps down. And the ball is now over to China's court is seeing how they will respond before potentially dealing with more of this if Trump does get elected come November. This article was written by Justin Low at www.forexlive.com.

EUR/USD strengthens as soft US PPI propels Fed large rate cut bets

Sep 13, 2024 | 02:46 am

EUR/USD jumps to near 1.1100 in Friday’s European session. The major currency pair rises as the Euro (EUR) strengthens following the European Central Bank’s (ECB) monetary policy announcement on Thursday, and the US Dollar (USD) weakens after soft United States (US) Producer Price Index (PPI) data for August.

Gold gets lift as media revives debate over Fed rate cuts

Sep 13, 2024 | 02:44 am

Gold (XAU/USD) is exchanging hands in the high $2,560s on Friday, trading about 0.40% higher on the day after posting new record highs on Thursday when it broke decisively out of a range it had been oscillating in since it peaked on August 20.

Mexican Peso rises as main currency peers suffer on lower interest-rate outlook

Sep 13, 2024 | 02:32 am

The Mexican Peso (MXN) extends its gains on Friday, capping off a week in which the currency has appreciated on average 2.3% against its most heavily-traded counterparts so far.

Silver price today: Silver rises, according to FXStreet data

Sep 13, 2024 | 02:32 am

Silver prices (XAG/USD) rose on Friday, according to FXStreet data.

USD/CAD steadies below 1.3600 despite weak US Dollar

Sep 13, 2024 | 02:29 am

The USD/CAD pair consolidates inside Thursday’s range slightly below the round-level resistance of 1.3600 in Friday’s European session.

Silver Price Prediction: Uptrend to likely extend to range high, RSI overbought

Sep 13, 2024 | 02:07 am

Silver (XAG/USD) is trading in an up leg towards the top of a broad range that stretches from the $26s to the $30s.

Eurozone Industrial Production drops 0.3% MoM in July, as expected

Sep 13, 2024 | 02:02 am

Eurozone’s industrial sector activity accelerated its pace of decline in July, the latest data published by Eurostat showed on Friday.

Eurozone July industrial production -0.3% vs -0.5% m/m expected

Sep 13, 2024 | 02:00 am

Prior -0.1%; revised to 0.0%The drop here fits with the continued softness in the euro area industrial sector, led by the struggles in Germany especially. Looking at the breakdown, intermediate goods dropped by 1.3%, capital goods by 1.6%, durable consumer goods by 2.8%. That was slightly offset by an increase in energy by 0.3% and non-durable consumer goods by 1.8%. This article was written by Justin Low at www.forexlive.com.

Eurozone Industrial Production s.a. (MoM) in line with expectations (-0.3%) in July

Sep 13, 2024 | 02:00 am

Eurozone Industrial Production s.a. (MoM) in line with expectations (-0.3%) in July

Eurozone Industrial Production w.d.a. (YoY) registered at -2.2% above expectations (-2.7%) in July

Sep 13, 2024 | 02:00 am

Eurozone Industrial Production w.d.a. (YoY) registered at -2.2% above expectations (-2.7%) in July

BoE Survey: UK public inflation expectations for year ahead decline to 2.7% in August

Sep 13, 2024 | 01:59 am

UK public inflation expectations for the next 12 months are seen at 2.7% in August, a tad lower from a 2.8% forecast in May, the quarterly survey conducted by the Bank of England (BoE) and Ipsos showed on Friday.

USD/JPY recovers a few pips after refreshing YTD low, remains heavily offered below 141.00

Sep 13, 2024 | 01:54 am

The USD/JPY pair drops to a fresh YTD trough during the first half of the European session on Friday, albeit manages to recover a few pips in the last hour.

Hero Motocorp Elliott Wave technical analysis [Video]

Sep 13, 2024 | 01:52 am

Function: Counter Trend (Minor degree Wave 4, Grey). Mode: Corrective.

Pound Sterling jumps to near 1.3150 as Fed large rate cut bets soar

Sep 13, 2024 | 01:48 am

The Pound Sterling (GBP) exhibits a strong performance against its major peers on Friday.

Dax is trading in fifth wave, Elliott Wave analysis

Sep 13, 2024 | 01:36 am

We talked about DAX already back in August, when we spotted a perfect textbook pattern and support for wave (IV), from where we can now see DAX already back to highs for wave (V) with space up to 19500 - 20000 area.

United Kingdom Consumer Inflation Expectations dipped from previous 2.8% to 2.7%

Sep 13, 2024 | 01:31 am

United Kingdom Consumer Inflation Expectations dipped from previous 2.8% to 2.7%

USD/JPY stays pressured as lower yields weigh

Sep 13, 2024 | 01:22 am

10-year yields in the US are now down by 5.5 bps to 3.625% and that is weighing further on USD/JPY today. The pair is now down 1% to fresh lows at 140.43 and that is bringing closer the December 2023 low at 140.24 as well as the 140.00 mark. The bounce early yesterday was certainly short-lived, that especially as traders continue to price in stronger odds of a 50 bps rate cut by the Fed next week.As things stand, Fed funds futures are showing ~116 bps of rate cuts by year-end. Personally, I still think that's a step too far but traders aren't backing down from their conviction this week. The odds of a 50 bps rate cut next week are now at ~41%.Anyway, a key chart to watch for the dollar and USD/JPY as we look to close out the week will be 2-year yields.It is staying close to the 2023 low near 3.55% currently. A break lower there might be overstepping in terms of Fed pricing but one can't really rule that out at this point.This market has a tendency to overreact before running back that pricing if they can't bully the Fed to get their way. That's what we saw before with the supposed six rate cuts priced in for 2024 at the end of last year. This article was written by Justin Low at www.forexlive.com.

S&P/ASX 200 index Elliott Wave technical analysis [Video]

Sep 13, 2024 | 01:13 am

S&P/ASX 200 Elliott Wave Analysis - Day Chart. S&P/ASX 200 Elliott Wave technical analysis Function: Trend.

WTI flat lines around mid-$68.00s, seems poised to register modest weekly gains

Sep 13, 2024 | 01:09 am

West Texas Intermediate (WTI) US crude Oil prices struggle to capitalize on a two-day-old recovery move from the lowest level since May 2023 and oscillate in a range around mid-$68.00s through the first half of the European session on Friday.

ECB’s Muller: Confidence is growing that inflation is on the right track

Sep 13, 2024 | 00:50 am

European Central Bank (ECB) policymaker Madis Muller said on Friday that “confidence is growing that inflation is on the right track..” Additional quotes Temporary acceleration in inflation is likely.

ECB's Muller: Temporary acceleration in inflation is likely

Sep 13, 2024 | 00:42 am

Temporary acceleration in inflation is likely.Services inflation is still a concern.The Eurozone economy is awaiting moderate recovery.Confidence is growing that inflation is on the right track. This article was written by Giuseppe Dellamotta at www.forexlive.com.

USD/INR remains tepid ahead of Michigan Consumer Sentiment

Sep 13, 2024 | 00:36 am

The USD/INR pair moves slightly lower following the losses registered in the previous as recent US economic data reinforced the odds of an aggressive rate cut by the Federal Reserve (Fed) next week.

EUR/GBP trades around 0.8450 after paring losses, assessing ECB policymakers' comments

Sep 13, 2024 | 00:32 am

EUR/GBP recovers intraday losses, trading around 0.8430 during the early European hours on Friday.

European equities start the day on a positive note

Sep 13, 2024 | 00:24 am

Eurostoxx +0.42%Germany DAX +0.27%France CAC 40 +0.29%UK FTSE +0.14%Spain IBEX +0.33%Italy FTSE MIB +0.14%The mood in the market remains broadly positive. ICYMI yesterday around 18:53 Central European Time, WSJ's Timiraos came out with a piece which seemed like suggesting that a 50 bps cut is still being discussed. The market responded by raising 50 bps cut probabilities to around 40% from 13% before the news. This article was written by Giuseppe Dellamotta at www.forexlive.com.

ECB’s Villeroy: We keep our full optionality for our next meetings

Sep 13, 2024 | 00:20 am

European Central Bank (ECB) Governing Council member and Bank of France President, Francois Villeroy de Galhau, commented on the interest rate outlook on Friday.

ECB's Villeroy: We should continue to reduce gradually and as appropriate

Sep 13, 2024 | 00:18 am

We should continue to reduce gradually and as appropriate the degree of monetary restriction.ECB must be attentive to risk of undershooting target.Market inflation expectations well below the ECB forecasts.The latest activity data have been somewhat disappointing.Pace of easing has to be highly pragmatic, we keep our full optionality for the next meetings.The ECB must be attentive to symmetric risks around the 2% goal. This article was written by Giuseppe Dellamotta at www.forexlive.com.

China approves the plan to raise the retirement age for the first time since 1978

Sep 12, 2024 | 23:58 pm

Will raise the retirement age for men to 63 - effective January 1, 2025.Will raise retirement age for white collar female workers to 58 - effective January 1, 2025.Will raise retirement age for blue collar female workers to 55 - effective January 1, 2025.From January 2030 the minimum period for employees to receive basic pension on a monthly basis will be gradually increased from 15 years to 20 years. Employees who have reached the minimum numbers of years of payment may voluntarily choose to retire flexibly and early. This article was written by Giuseppe Dellamotta at www.forexlive.com.

Forex Today: US Dollar slides as markets reassess odds of large Fed rate cut

Sep 12, 2024 | 23:56 pm

Here is what you need to know on Friday, September 13: Following the bullish action seen in the first half of the week, the US Dollar (USD) Index turned south on Thursday and erased all of its weekly gains.

ECB’s Vasle: We are not committed to any predetermined rate path

Sep 12, 2024 | 23:49 pm

European Central Bank (ECB) Governing Council member Bostjan Vasle said on Friday that “we are not committed to any predetermined rate path.” “Inflation to be largely steered by core and services,” he added.

France Inflation ex-tobacco (MoM) up to 0.5% in August from previous 0.2%

Sep 12, 2024 | 23:45 pm

France Inflation ex-tobacco (MoM) up to 0.5% in August from previous 0.2%

France Consumer Price Index (EU norm) (MoM) meets forecasts (0.6%) in August

Sep 12, 2024 | 23:45 pm

France Consumer Price Index (EU norm) (MoM) meets forecasts (0.6%) in August

France Consumer Price Index (EU norm) (YoY) meets forecasts (2.2%) in August

Sep 12, 2024 | 23:45 pm

France Consumer Price Index (EU norm) (YoY) meets forecasts (2.2%) in August

France August final CPI +1.8% vs +1.9% y/y prelim

Sep 12, 2024 | 23:45 pm

Prior +2.3%HICP +2.2% vs +2.2% y/y prelimPrior +2.7%Headline prices are showing a slowdown compared to July. However, core annual inflation did tick up a little from 1.5% in the previous month to 1.7% in August. But at these levels, the ECB can feel comfortable about it as compared to Germany for example. This article was written by Justin Low at www.forexlive.com.

ECB's Vasle: We are not committed to any predetermined rate path

Sep 12, 2024 | 23:44 pm

We are not committed to any predetermined rate path.Inflation to be largely steered by core and services. This article was written by Giuseppe Dellamotta at www.forexlive.com.

Gold miners ETF expects continuation of bullish trend [Video]

Sep 12, 2024 | 23:40 pm

Short term Elliott Wave view on Gold Miners ETF (GDX) suggests that decline to 33.86 ended wave (4).

USD/CHF falls to near 0.8500 as recent data increase odds of a bumper Fed rate cut

Sep 12, 2024 | 23:37 pm

USD/CHF extends its losses for the second successive session, trading around 0.8490 during the Asian hours on Friday.

What are the main events for today?

Sep 12, 2024 | 23:33 pm

The only highlight in the European session will be the Industrial Production data, which is rarely a market moving release though. The main event for today will be the University of Michigan Consumer Sentiment report but it's unlikely to change anything in terms of market pricing unless we get huge deviations.14:00 GMT/10:00 ET - US September UMich Consumer SentimentThe University of Michigan Consumer Sentiment is expected at 68.5 vs. 67.9 prior. The Expectations index is seen at 71.0 vs. 72.1 prior, while the Current Conditions index at 61.5 vs. 61.3 prior. This indicator becomes more important at turning points in the business cycle, so it will be something the market will keep an eye on given the current focus on growth. This article was written by Giuseppe Dellamotta at www.forexlive.com.

ECB’s Rehn: ECB rate cuts are supportive of growth

Sep 12, 2024 | 23:30 pm

European Central Bank (ECB) policymaker Olli Rehn said on Friday that “ECB rate cuts are supportive of growth.” Additional quotes Current uncertainties emphasize the dependence on fresh data on the economy.

Gold price bulls retain control near all-time peak amid bets for a larger Fed rate cut

Sep 12, 2024 | 23:21 pm

Gold price (XAU/USD) touched a fresh all-time peak, around the $2,563-2,564 region during the Asian session on Friday amid expectations for a more aggressive policy easing by the Federal Reserve (Fed).

Eurostoxx futures +0.3% in early European trading

Sep 12, 2024 | 23:09 pm

German DAX futures +0.4%French CAC 40 futures +0.2%UK FTSE futures flatThis follows from the gains yesterday and also the positive showing in Wall Street overnight. S&P 500 futures are lightly changed on the day though, so we're not seeing the optimism get too carried away just yet. Just be mindful that bonds are bid on the day as well, so that might have a say on broader market sentiment. 10-year yields in the US are down 4 bps to 3.64% currently. This article was written by Justin Low at www.forexlive.com.

Boeing US factory workers vote to go on strike, reject pay deal

Sep 12, 2024 | 21:40 pm

The strike will begin at midnight Pacific Time or in just under two-and-a-half hours from now. Boeing's US factory workers have rejected the company's plea deal from earlier this week, which includes a 25% pay rise over four years. The union had previously targeted a 40% pay rise, so there is quite a discrepancy there. For some context, the current arrangement between Boeing and the unions was agreed back in 2008. And that came after an eight-week strike. This article was written by Justin Low at www.forexlive.com.

Dollar looks to settle lower after some back and forth trading this week

Sep 12, 2024 | 21:33 pm

If the Fed wants to organise things in an orderly manner, the market sure isn't letting them do so. The odds of a 50 bps rate cut dwindled after the US CPI report earlier this week but were reignited again in trading yesterday. The odds of that have moved back up to ~45% now.There wasn't much of a key trigger with the weekly jobless claims coming in steady while producer prices were more mixed at the balance when accounting for the revisions. Still, the dollar tracked lower and is keeping that way alongside Treasury yields.It is now reaffirming a break lower in USD/JPY again, with eyes turning towards the December 2023 low at 140.24 and the 140.00 mark in general.Besides that, EUR/USD also caught a bid after the ECB and after large option expiries from yesterday lapsed. The pair has erased losses for the week and is holding marginally higher as buyers keep a bounce off 1.1000.Elsewhere, GBP/USD is also keeping its own bounce off 1.3000 to 1.3145 currently. And AUD/USD is holding a bounce off its 100-day moving average to sneak a push back to 0.6725 now.Then, there's also gold which has broken out to fresh record highs again. The precious metal is trading up another 0.4% to $2,569 currently.The pressure is certainly on for the dollar now with the moves being rather broad-based. And this is with 2-year yields still on the verge of plunging further, now seen at 3.58%. The key line in the sand there is the 2023 low of 3.55%. This article was written by Justin Low at www.forexlive.com.

ForexLive Asia-Pacific FX news wrap: USD/JPY fell back under 140.80

Sep 12, 2024 | 20:40 pm

China data this weekend: Will housing prices show signs of stabilization?Former New York Fed President Dudley sees a strong case for 50bp interest rate cutPricing for a 50bp FOMC rate cut has firmed in just a few hours, 41% nowChina's 10 year government bond yield has fallen to a record low of 2.0775%Fitch are forecasting a Bank of Japan rates to 1% (by the end of 2026!)PBOC sets USD/ CNY reference rate for today at 7.1030 (vs. estimate at 7.1048)Gold hit a record high price in Asia trade, above US$2562.65Putin warns that lifting Ukraine missile restrictions will put NATO at war with RussiaCritical data coming for AUD/USD ... this weekend! (Spoiler - China data)Goldman Sachs see a Bank of England rate cut in November, with a cascade of cuts to followBank of England to pause rate cuts next week - survey result unanimousPeru's central bank cuts reference rate by 25bps to 5.25%, as expectedReports that China set to cut interest rates on more than $5 trln of outstanding mortgagesNew Zealand August Manufacturing PMI 45.8 (prior 44.4)Deutsche Bank on what makes this ECB rate cut cycle unusualEl Erian says "ton of cash" on the sideline helping to limit losses in global bondsWall Street Journal Fed watcher asks on FOMC rate cut next week - Start small or big?Forexlive Americas FX news wrap 12 Sep: ECB cuts rates as expected, but the USD fallsInteractive Brokers will launch US election betting next weekPIMCO sees US dollar volatility ahead after the Fed begins cuttingBroader US stock indices up for the fourth consecutive dayTrade ideas thread - Friday, 13 September, insightful charts, technical analysis, ideas There was a sharp surge in pricing for a 50bp Federal Open Market Committee (FOMC) rate cut at next week’s meeting during the time zone here today. This helped to lower the US dollar. EUR/USD rose above 1.1090. Gold rose to a record high above US$2,570.USD/JPY was where the main action was though, dropping back towards the lows of earlier this week. We didn’t have data or news out of Japan. News and data flow was light otherwise. I did post on Russia’s Putin warning the UK and US that they will be at war with Russia if they allow Ukraine to use long-range missiles to strike targets across the border. Also, a former New York Federal Reserve President, Bill Dudley, said he sees a strong case for a 50bp FOMC rate cut at the September 18 meeting. Dudley had previously called for a cut at the July meeting. Coming up over the weekend we have key economic data published in China, see bullets above for more on this. This article was written by Eamonn Sheridan at www.forexlive.com.

China data this weekend: Will housing prices show signs of stabilization?

Sep 12, 2024 | 19:52 pm

I posted earlier on the data coming from China this weekend:Critical data coming for AUD/USD ... this weekend! (Spoiler - China data)All of the three major indicators are expected to show slower growth than they did in July.Via ING, more:We are generally looking for another month of sluggish growth data this month, with the three big economic activity indicators of industrial production (5.1% prior, 4.8% forecast), fixed asset investment (3.6% prior, 3.5% forecast), and retail sales (2.7% prior, 2.5% forecast) all expected to moderate. The housing price data will also be scrutinised closely for signs of stabilisation. This article was written by Eamonn Sheridan at www.forexlive.com.

Gold hit a record high price in Asia trade, above US$2562.65

Sep 12, 2024 | 17:55 pm

What a trend for gold. I posted this geopol stuff earlier, if this isn't a good case for gold I don;t know what is:Putin warns that lifting Ukraine missile restrictions will put NATO at war with RussiaApart from that gold has plenty going for it, has for a long time: This article was written by Eamonn Sheridan at www.forexlive.com.

Putin warns that lifting Ukraine missile restrictions will put NATO at war with Russia

Sep 12, 2024 | 17:17 pm

The UK and the US meet on Friday to discuss plans to allow Kyiv to strike targets inside Russia with Western-supplied missiles. Russian President Vladimir Putin warned he would regard such an agreement as tantamount to NATO directly entering the war. “This will mean that NATO countries, the United States, and European countries are fighting Russia” Via Politico:Military experts argue any guidelines agreed for the British weapons at the two-hour summit in Washington could also then pave the way for the Ukrainians to fire U.S.-supplied ATACMS — a tactical ballistic missile system — at airfields and army bases deep inside in Russia. Kremlin spokesperson Dmitry Peskov suggested the meeting between Starmer and Biden was a mere formality and that a deal had already been done, vowing Russia’s reponse “will be appropriate.”More at that link above. If this is going to be added geopolitical risk markets are so far shrugging it off. This article was written by Eamonn Sheridan at www.forexlive.com.

USD/JPY trekking below 141.30

Sep 12, 2024 | 17:16 pm

Updating USD/JPY in the abscense of any news nor data out of Japan. Just continued JPY volatility (buying really!).We visited under 141.00 eaeleir this week on BoJ comments:ForexLive Asia-Pacific FX news wrap: Yen hit an eight month high on BOJ comments This article was written by Eamonn Sheridan at www.forexlive.com.

A softer USD and promise of China stimulus helps AUD power back above US$0.67

Sep 12, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar advanced through trade on Thursday against the backdrop of a weaker US dollar. Risk sentiment improved, driving gains across equities and key industrial commodities, with iron ore and the London Metals Exchange both enjoying a 2% upswing. With the US dollar on the back foot and commodities well supported, the AUD outperformed, climbing back through US$0.67 to mark intraday highs at US$0.6752. While stronger against the USD, the AUD also outpaced most other major counterparts, pushing back toward 0.6080 against the euro, consolidating a break above 0.51 against the pound and holding above 1.0850 against the NZD. Our attentions turn now to US consumer sentiment numbers tonight, ahead of key China activity data released over the weekend. Comments from China President Xi helped support commodity demand yesterday, as he urged local governments to properly implement economic policy through the 3rd and 4th quarter to ensure China meets its annual development goals. The comments, combined with reports that officials are preparing to cut interest rates on more than $5 trillion of outstanding mortgages, sparked hopes the world’s 2nd largest economy will find renewed momentum leading into next year. China’s underperformance remains a significant headwind to AUD upside and an easing in growth concerns could help propel the AUD higher. Key Movers The European Central Bank cut interest rates overnight, reducing the benchmark cash rate by 25 basis points to 3.5%. Markets had priced in the move, instead looking to the post meeting statement for guidance on future policy direction. Officials staunchly defended the need to remain data dependent and would give no commitment as to which direction the ECB was leaning in October, but they did downgrade growth forecasts and slightly increase near term inflation expectations. While the growth outlook remains anaemic, inflation pressures linger and the market trimmed its expectations for rate cuts into the end of the year, with just 40 points of additional cuts now priced in. With rate cut expectation tempered, the euro jumped four tenths of a percentage point, climbing back through 1.1050 to mark intraday highs just short of 1.1075. With the ECB policy decision in the books, attentions turned to US PPI data and while we saw a marginal uptick in the quarterly core number, a downward revision of July numbers tempered any concern surrounding inflation and did little to force a change in market expectations ahead of next week's fed policy meeting. The US dollar closed the day weaker against most majors. Our attentions turn now to US consumer sentiment data ahead of a slew of Chinese activity metrics due at the weekend. Expected RangesAUD/USD: 0.6620 - 0.6820 ▲AUD/EUR: 0.6020 - 0.6120 ▲GBP/AUD: 1.9400 - 1.9600 ▼AUD/NZD: 1.0800 - 1.0900 ▲AUD/CAD: 0.9050 - 0.9150 ▲

Critical data coming for AUD/USD ... this weekend! (Spoiler - China data)

Sep 12, 2024 | 16:54 pm

Via Westpac on the Australian dollar:AUD/USD is showing some tentative signs of shaking off its lacklustre price action linked to iron ore prices hitting 22mth lows and rocky global market conditions. But AUD must still navigate August China activity data this weekend. August China imports, PMIs and recent credit trends, anecdotally, do not auger well for the August data round.That's right folks - Chinese August 'activity' data is due on Saturday, September 14, 2024:at 0200 GMT, which is 2200 on Friday evening US Eastern time All three of these 3 key indicators:retail sales, industrial output, investmentare expected to come in at lower rates of growth than they did in July. This article was written by Eamonn Sheridan at www.forexlive.com.

New Zealand August Manufacturing PMI 45.8 (prior 44.4)

Sep 12, 2024 | 15:32 pm

NZ – BusinessNZ Performance of Manufacturing Index (PMI).Still in contraction at 45.8prior revised to 44 .4, from 44.0long term average is 52.6has been in contraction for 18 consecutive months BusinessNZ’s Director, Advocacy Catherine Beard:sub-index results for Production (46.3) and New Orders (46.8) were both the strongest they have been in a few monthsBNZ’s Senior Economist Doug Steel:“while business confidence and building consent indicators have ticked up from their very low levels offering potential for improvement over the coming 12 months, the PMI is an indicator of outcomes and continues to show that current conditions remain challenging” This article was written by Eamonn Sheridan at www.forexlive.com.

El Erian says "ton of cash" on the sideline helping to limit losses in global bonds

Sep 12, 2024 | 15:10 pm

Mohamed El-Erian spoke with Bloomberg Television on the global bond market:sale of $39 billion 10-year US Treasury notes Wednesday had “massive indirect demand” “I can only reconcile it by the ton of cash that’s on the sideline, and the fear that if you don’t lock in interest rates now, you will lose interest income in the future. Every time we have a backup in rates, we have people rush back in.”Recent price action in Treasuries is fueled in part by “money on the sideline being put to work quickly,” Adam wrote on locking in high a rate fixed income investment way, way back in the first week of July:I believe this is a rare moment to lock in investments with high rates for a long durationGood to see folks are catching up. This article was written by Eamonn Sheridan at www.forexlive.com.

Forexlive Americas FX news wrap 12 Sep: ECB cuts rates as expected, but the USD falls

Sep 12, 2024 | 13:59 pm

Broader US stock indices up for the fourth consecutive dayCPI and PPI data point to a tame ore PCE next monthWas the CItigroup trader the best trader in the world? He thinks so.WSJ Timiraos: Fed has a rate cut dilemma. Go big or go smallReuters IPSOS poll: Harris 47%. Trump 42%US Treasury auctions off $58 billion of 30 year bonds at a high yield of 4.015%US household net worth rose to record $163.8 trillion in Q2 2024ECB sources: ECB officials have not ruled a rate cut at the October meeting, but...Higher close for European major indicesUS August budget deficit -$380 billion versus estimate -$317.3 billion deficitGold is precious in the eyes of investors. The precious metal breaks to new all-time highsKickstart the FX trading day for Sept 12 w/a technical look at the EURUSD, USDJPY & GBPUSDTech stocks wobble: Communication services shine while energy holds steadyHighlights of the ECB press conference for September 2024Canada Building permits for July 22.1% vs 7.1% estimateUS PPI final demand MoM for August YoY 1.7% vs 1.8% estimate. MoM 0.2% vs 0.1% est.US weekly initial jobless claims 230K vs 230K expectedComparing the ECB August statement to the September statementECB cuts deposit rate by 25 bps in September monetary policy decision, as expectedThe AUD is the strongest and the CHF is the weakest as the NA session beginsForexLive European FX news wrap: Light movements ahead of ECB decision, more US dataThe US PPI came in mixed today. The initial jobless claims came in as expected. The combination initially did not change perceptions that the Fed will likely cut rates by 25 basis points. Later there were a couple posts by WSJ Timiraos. The first talked to the dilemma that the Fed is facing. Do they go small or do they go big (ie.25 or 50 bps cut).That gave the market more hope that the Fed may still go big with a 50 basis point cut. There was another tweet where the number crunchers of CPI and PPI, project core PCE to be in the 0.13% to 0.17% range. That would keep the bias moving lower for inflation. The news helped to push the USD lower not only on the data but also due to risk-on sentiment. The clear focus , nevertheless, remains on the Federal Reserve's potential rate cut next week, and the market is still pricing in a 25% chance of a 50 basis point cut. Remember as well, the dot plot and the updated GDP, inflation and employment estimates from Fed officials will also be presented as focus moves more into 2025 as well. What will the dot plot project?Looking at the strongest to the weakest of the major currencies, the Australian Dollar (AUD), New Zealand Dollar (NZD), and British Pound (GBP) outperformed, benefiting from the risk-on trade and the USD weakness. The AUDUSD extended above its 200 hour MA at 0.6700 and looks toward the 100 bar MA on the 4-hour chart at 0.6734. The NZDUSD also extended above its 200 hour MA at 0.6175 and looks toward its 100 bar moving average only 4-hour chart and 0.61936. GBPUSD moved above its 200 hour MA at 1.3110. Conversely, the Canadian Dollar (CAD) underperformed closing near unchanged on the day and is testing its 100-hour MA at 1.35779 after holding support near that MA earlier in the day and moving higher. The new trading day will use that MA as a risk defining level. Move below would be more bearish. Stay above would be more bullish. .The EURUSD also moved higher- extending above its 200-hour MA at 1.1056 in the process. The European Central Bank (ECB) cut rates as expected, but President Lagarde did not commit to a specific future rate path. Inflation projections were revised slightly higher for 2024 and 2025, while growth forecasts were slightly downgraded. Later in the day, "ECB sources" implied that October cut is likely not on the table and that December needed more weak growth to prompt the ECB to cut rates. That also seemed to give the EURUSD a bid into the close. The price is above its 200 hour MA at 1.1056. Stay above would be more bullish. The broader Nasdaq and S&P indices closed higher for the 4th consecutive day this week and have reversed most of the -5.77% and -4.25% declines from last week. US yields rose by two – three basis points. The 30 year bond auction did not go as well as the 3 and 10 year auctions on Tuesday and Wednesday, although there was still fairly strong international demand:2-year yield 3.645%, unchanged5year yield 3.467%, +2.1 basis points10 year yield 3.677%, +2.5 basis points30 year yield 3.990%, +2.8 basis points.Gold prices soared and closed at a record level. The price of Spot gold rose $47.60 or or .0% had 2558.83. Silver is up $1.21 or 4.22% at $21.85. Bitcoin also rose by $892 or $58,232. This article was written by Greg Michalowski at www.forexlive.com.

Interactive Brokers will launch US election betting next week

Sep 12, 2024 | 13:57 pm

There are venues for betting on the US election but this is seen as a big deal because IB has around 3 million customers. IB will open betting from Monday, September 16.bets on Trump or Harrisalso bets on swing-state Senate racesInfo via Wall Street Journal (gated) -In other political news, Trump has said he won't debate Harris again. Harris had been pushing for another debate:I believe we owe it to the voters to have another debate, because this election and what is at stake could not be more importantTrump says No. -The election is still weeks away. Plenty more boring election news to come until then. While we wait, a bit of a laugh: This article was written by Eamonn Sheridan at www.forexlive.com.

Broader US stock indices up for the fourth consecutive day

Sep 12, 2024 | 13:12 pm

After a sharp declines last week when they NASDAQ index fell by -5.77% and the S&P fell by -4.25%, each of those indices are up for four consecutive days this week. The NASDAQ index is now up 5.27%, while the S&P index as rebounded by 3.46% this week.Looking at the major indices today: Dow industrial average +235.06 points or 0.58% at 41096.77S&P index of 41.63 points or 0.75% at 5595.76.NASDAQ index up 174.15 points or 1.00% at 17569.68The small-cap Russell 2000 rose 25.58 points or 1.22% at 2129.42.Nvidia rose by 1.91%Dell rose by 3.08%Meta Platform rose by 2.69%Amzaon rose by 1.34%Alphabet rose by 2.34%Microsoft rose by 0.94% This article was written by Greg Michalowski at www.forexlive.com.

Forex Today: US Inflation Falls to 2.5%

Sep 11, 2024 | 23:12 pm

US Core CPI Data a Touch Hot; New Consensus Fed Won’t Cut by 0.50% This Month; Stock Markets Make Strong Gains; ECB Expected to Cut Main Refinancing Rate Today; Betting Markets See Small Swing to Harris After Presidential Debate

AUD resilient as other crosses give up ground

Sep 11, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar showed little movement through trade on Wednesday yet has outperformed when valued against key counterparts. The AUD struggled to gather any momentum through the domestic session, tracking between US$0.6625 and US$0.6650. An uptick across key commodity prices helped underpin the AUD as aluminium and copper prices climbed 2% while iron ore posting a 1% gain. Despite markets showing little net reaction to the first Harris/Trump US presidential debate and a surprise uptick in US inflation failing to spark major action, the AUD edged off session lows to touch highs just short of US$0.6670 overnight. With the GBP, euro and NZD all on the back foot, the AUD enjoyed strong gains, pushing above 0.51 against the pound, 0.6050 against the euro and 1.0880 against the NZD. Our attentions now turn to the European Central Bank and its monetary policy meeting, while US PPI data and jobless claims round out the docket. Key Movers The USD dollar showed little net movement through trade on Wednesday as investors offered scant reaction to the first Harris/Trump US presidential debate. Snap polls taken in the aftermath seemed to conclusively declare Harris the winner of the debate, with polling odds tipping 5 points in Harris’s favour. Instead, attentions turned toward US CPI data, and while focus has shifted over recent weeks to place greater emphasis on labour market performance, the surprise uptick in price pressures helped lift US treasury yields to close higher on the day. In other news, the yen trade was choppy after Bank of Japan board member, Junko Nakagawa suggested the current level of real rates is extremely low and monetary policy will need to be adjusted if expectations for inflation are realised. The comments supported expectations for tighter policy conditions and helps lift the yen and drive the USD toward 140.70 before US CPI numbers helped fuel a break back toward 142. The pound tested supports at 1.30 while the euro gave up 1.1050 to test 1.10. Our attentions now turn to the European Central Bank policy meeting, where we expect rates will be cut by 25 basis points. We are keenly attuned to any commentary that may offer insight into the timing and trajectory of future rate adjustments. US jobless claims and PPI data, a key marker for the PCE deflator round out the macro docket. Expected RangesAUD/USD: 0.6600 - 0.6720 ▲AUD/EUR: 0.5980 - 0.6150 ▲GBP/AUD: 1.9400 - 1.9700 ▼AUD/NZD: 1.0820 - 1.0920 ▲AUD/CAD: 0.9000 - 0.9100 ▲

US Inflation Drops to 2.5% in August

Sep 11, 2024 | 11:18 am

US inflation for August rose 2.5% year-on-year, in line with the market estimate. The US dollar posts gains against the major currencies today. Market odds of a 25 basis-point cut this month increase to 85%.

Forex Today: US Dollar, Stocks, Yields Fall Ahead of CPI Data

Sep 10, 2024 | 22:40 pm

US CPI Data Keenly Awaited; Japanese Yen Rallies on BoJ Comments, USD/JPY Reaches 9-Month Low; Betting Markets See Small Swing to Harris After Presidential Debate

Major bets sidelined as all attentions shift to US presidential debate and inflation update

Sep 10, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar tracked a very narrow range through trade on Tuesday and is virtually unchanged this morning. Markets seem content in sidelining major bets ahead of today's major risk events, US CPI numbers and the Trump vs. Harris Presidential debate. While holding above US$0.66 the AUD remains vulnerable to further fluctuations in the risk narrative as the outlook for key commodities is somewhat clouded. Iron ore prices fell another 1.25% overnight while copper gave up nine-tenths of a percent as industrial metals suffered another day traders would rather forget. China trade data for August was mixed as weak domestic demand and ongoing concerns for China’s beleaguered property market continue to weigh on commodity prices while acting as a headwind pushing against risk on moves. Our focus today sits on the US Presidential Debate and US CPI numbers. With the election under 2 months away, this will likely be the only debate between the candidates and will be crucial in shaping expectations for the Oval Office. Key Movers Price action was muted through trade on Tuesday as the USD tracked within a narrow range when measured against a basket of major peers while most G10 currencies offered little to excite investors. Investors seemed content in sidelining major bets ahead of today's all-important US presidential debate and tonight’s US CPI inflation update. With the Fed’s focus shifting to the labour market we expect the market reaction to CPI number to be muted when compared to the data points influence over recent years, however, a surprise miss could see investors scrambling to adjust positions ahead of next week's Fed policy meeting. Instead, our attention will likely be glued to the first Trump vs. Harris debate. With such conflicting agendas at stake, there is ample room for volatility across financial markets as analysts adjust bets on who will take the Oval Office come November. Note: The CAD underperformed on the day after the Canadian Government declared it would begin implementing Tariffs on Chinese Electric Vehicles while announcing a consultation period with the prospect of extending tariffs to include batteries, battery parts semiconductors, solar products and critical minerals. Expected RangesAUD/USD: 0.6550 - 0.6780 ▼AUD/EUR: 0.5980 - 0.6120 ▲GBP/AUD: 1.9500 - 1.9700 ▲AUD/NZD: 1.0800 - 1.0900 ▼AUD/CAD: 0.9000 - 0.9100 ▲

Forex Today: US Dollar, Stocks Make Small Recovery

Sep 9, 2024 | 23:08 pm

US Dollar and Stock Markets Gain Some Ground; Spectre of Chinese Deflation Subdues Asian Stocks; Yellen Says “No Red Light” for US Economy

Markets quiet as attentions turn to US inflation and presidential debate

Sep 9, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar gave up two-tenths of a per cent through trade on Monday amid a broadly stronger US dollar. An absence of major data allowed investors to consolidate positions ahead of key US CPI inflation data and the first Harris/Trump presidential debate. The AUD slipped to touch US$0.6666 yet outperformed against key crosses, up against the NZD, GBP and euro, perhaps in response to last week's broad underperformance. Having tested a break above US$0.68 a little over a week ago the AUD has since struggled to maintain upward momentum and China inflation data Monday did little to help underpin the currency. PPI numbers remain anaemic while CPI inflation pressures fell to a three-year low, highlighting the overcapacity struggles facing Chinese policymakers amid a distinct lack of consumer demand. Our attentions turn now to UK labour market data ahead of US CPI numbers on Wednesday, while the Trump/Harris presidential debate Tuesday in the US will prove key in shaping election expectations. If Trump proffers a strong performance it could support near term USD gains, while a Harris win will likely ensure focus remains affixed to the Fed and rate cut expectations. Key Movers The US dollar outperformed the majority of majors through Monday in what was a relatively quiet start to the week. An absence of headline news flow allowed investors to sideline major bets and direct attentions to US CPI inflation and PPI data due later this week. While the Fed has made it clear its focus has shifted to protecting the labour market, analysts will still want to see inflation tracking lower. A surprise uptick in price pressures may disrupt calls for the Fed to cut rates by 50-basis points next week, while another soft print gives policymakers licence to adopt a faster pace of normalisation. The DXY index is higher as the pound slipped below 1.31 and the euro gave up 1.1050, while the yen tested 144. The Canadian dollar was the day's only winner, albeit gains were modest. Our attentions turn now to UK labour market data as the only headline item on the agenda today. While employment growth will be important, our focus will be affixed to wage data as a key marker for the Bank of England. Resilience within the labour market gives the BoE license to leave rates on hold this month, with the first likely rate cut to come in November. Expected RangesAUD/USD: 0.6620 - 0.6780 ▼AUD/EUR: 0.5980 - 0.6100 ▲GBP/AUD: 1.9500 - 1.9700 ▼AUD/NZD: 1.0800 - 1.0900 ▲AUD/CAD: 0.9000 - 0.9100 ▼

Forex Today: Markets Fear Fed Cutting Too Slowly

Sep 9, 2024 | 00:00 am

Fears Persist Fed Not Done Enough to Prevent Hard Landing; Asian Stocks Continue Decline, But US Futures, Yields Advance; Quiet Monday Likely

Aussie dollar falls below US$0.67

Sep 8, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar is slightly weaker this morning when valued against the Greenback, currently trading at 0.6664 at time of writing. The AUD/USD pair surrendered its intraday gains and turned negative in Friday’s North American session in the aftermath of the United States (US) Non Farm Payrolls (NFP) data for August, which increased buying interest of the US dollar. Reserve Bank of Australia (RBA) Governor, Ms Bullock in a speech to the Anika Foundation in Sydney on Thursday afternoon made her comments about "The Costs of High Inflation". Her comments came a day after new data showed Australia's economy was growing at its slowest pace since the 1990s recession, as households cut back significantly on spending. The economy grew by 0.2 per cent in the June quarter, and by just 1 per cent over the last year, according to the Australian Bureau of Statistics (ABS). Underlying inflation is currently running at an annual pace of 3.8 per cent, which is still above the RBA's target of 2.5 per cent. On Thursday, Ms Bullock said if the engineered economic slowdown kept tracking as the RBA anticipated, inflation could be sitting around 2.5 per cent by the end of 2026. Figures show core inflation has declined from 4.1 per cent in the December quarter, to 4 per cent in the March quarter, to 3.9 per cent in the June quarter. Looking ahead this week on the data front, on Tuesday we will see the release of both the Westpac Consumer Sentiment and NAB Business Confidence. On Wednesday, RBA Assistant Governor (Economic) Sarah Hunter is due to speak at the Barrenjoey Economic Forum, in Sydney. Key Movers Non Farm Payrolls (NFP) in the US rose by 142,000 in August, the US Bureau of Labor Statistics (BLS) reported on Friday. This reading followed the 89,000 increase (revised from 114,000) recorded in July and fell short of the market expectation of 160,000. Other details of the report showed the unemployment rate edged lower to 4.2%, with the Labor Force Participation unchanged at 62.7%. Finally, wage inflation, as measured by the change in Average Hourly Earnings, rose to 3.8% from 3.6% in July. While markets have ramped up their bets in favour of a rate reduction from the Fed this month, the data in itself hasn’t been sufficient to seal the deal for a 50 basis point cut, which remains less than 60% priced in by futures markets. Next week’s CPI report for August will now be key, as a miss here may be required for the FOMC to go big in September. Looking ahead this week and the August CPI inflation (Consumer Price Index) data will be widely watched on Wednesday. According to the Reuters poll, economists estimate headline YoY inflation to ease to +2.6%, 0.3 percentage points down from +2.9% in July (estimate range between +2.6% and +2.4%). The debate about whether the Fed will opt for a 25 or 50 basis point cut remains ongoing. Expected RangesAUD/USD: 0.6550 - 0.6750 ▼AUD/EUR: 0.5900 - 0.6100 ▼GBP/AUD: 1.9550 - 1.9750 ▲AUD/NZD: 1.0700 - 1.0900 ▲AUD/CAD: 0.8950 - 0.9150 ▼

Bank of Canada Cuts Interest Rate to 4.25%

Sep 5, 2024 | 00:09 am

The Bank of Canada lowered rates on Wednesday by 25 basis points, lowering its key interest rate to 4.25%.

Forex Today: Fears Grow of Hard Landing for US Economy

Sep 4, 2024 | 22:26 pm

US Yield Curve Dis-inverts; Global Stocks Continue Decline; Japanese Yen Advances Strongly; Most Commodities Continue Decline; Disappointing US Jobs Data

Forex Today: Stocks, Commodities Fall Strongly, Yen Advances

Sep 3, 2024 | 23:02 pm

Global Stocks Trade Sharply Lower; Japanese Yen Advances Firmly; Most Commodities Continue Decline; Aussie Lower on Poor GDP Numbers

Forex Today: Markets See Weak Risk-Off Sentiment

Sep 2, 2024 | 22:33 pm

Global Stocks Trade Lower; Japanese Yen and US Dollar Strongest in Forex; Most Commodities Decline

Forex Today: Japanese Yen Strengthening Again

Sep 1, 2024 | 23:18 pm

Stronger Yen as More Institutions Forecast USD/JPY Below ¥140; Hawkish Rate Comment from RBA; Commodities Lower in Early Trading

United States GDP Revised Upwards to 3%, Unemployment Claims Drop Marginally

Aug 29, 2024 | 09:27 am

According to the BEA, United States second-estimate GDP for the second quarter, released earlier today, indicated that the economy expanded at an annualized rate of 3.0%.

Inflation in Canada Drops to 2.5% in July

Aug 20, 2024 | 23:12 pm

Canada’s Consumer Price Index (CPI) rose to 2.5% year-on-year in July, down from 2.7% and the lowest level since March 2021.

Forex Today: Lower US Inflation Boosts Risk, Knocks Greenback

Aug 14, 2024 | 23:36 pm

US CPI Drops From 3.0% to 2.9%, Stock Markets Edge Higher; US Dollar Looking Heavy on Support; Gold Flirts With Record High; EUR/USD Reaches 2024 High at $1.1050

US Inflation Dips to 2.9%, Lowest Level in Over Three Years

Aug 14, 2024 | 23:24 pm

US inflation for July rose 2.9% year-on-year, close to expectations. The US Dollar is showing little reaction to the inflation report.

Forex Today: Surprise New Zealand Interest Rate Cut

Aug 13, 2024 | 23:17 pm

RBNZ Cuts Rates by 0.25%; Markets Await US, UK CPI Data; Stock Markets Continue Recovery; Gold Flirts With Record High; EUR/USD Tests $1.1000

Forex Today: Crude Oil Rises Strongly on Middle East Tension

Aug 12, 2024 | 23:42 pm

Crude Oil Rises by Over 3% as Iran Expected to Attack Israel; Stock Markets Continue Recovery; Gold Flirts With Record High

Forex Today: Markets Look Ahead to US CPI Data

Aug 11, 2024 | 23:08 pm

Quiet Start to Week; Markets Eyeing Upcoming US Inflation Data; Weak Bid on Risky Assets Today

Forex Today: US Dollar Weakens Again

Aug 7, 2024 | 23:29 pm

US Dollar Index Trades Lower Near Support; Markets Start to Stabilise; Harris Takes Lead in Betting Market for US Presidency

Forex Today: Yen Falls on Dovish BoJ Comments

Aug 6, 2024 | 23:08 pm

Japanese Yen 2% Lower as BoJ Pledges No Hike; NZD Rises on Strong Employment Data; Risk Assets Recover, US Treasury Yields Rise

Australian Central Bank Holds Cash Rate at 4.35%

Aug 6, 2024 | 01:57 am

The Reserve Bank of Australia (RBA) maintained the cash rate at 4.35% following the latest meeting of the Bank’s Board.

Forex Today: Japanese Stocks See Huge Rebound

Aug 5, 2024 | 23:16 pm

Major Japanese Stock Indices Up 11%, but NASDAQ 100 Enters Correction Territory; Japanese Yen Declines; RBA Leaves Rate Unchanged at 4.35%

Forex Today: Risky Assets Hammered; Yen, Swiss Franc Soar

Aug 4, 2024 | 23:14 pm

Big Selloff in Global Stocks, Trading Suspended in Japan and Korea; Japanese Yen Continues Massive Advance; US Warns Iran May Attack Israel Tonight

Forex Today: Yen Soars on More Hawkish Bank of Japan

Jul 31, 2024 | 23:30 pm

Yen Continues to Rally as More BoJ Rate Cuts Expected; Dovish Fed Sends US Dollar, Yields Lower; Japanese Stocks Have Worst Day in 3 Years; Crude Oil Spikes as Iran/Israel War Looms; BoE Expected to Cut Rates Today

Bank of Japan Hikes Interest Rate, Yen Soars

Jul 31, 2024 | 02:37 am

Bank of Japan raises benchmark rate to 0.25%.

Forex Today: Bank of Japan Hikes Rates to 0.25%

Jul 31, 2024 | 00:39 am

Bank of Japan Raises Rates to Highest Level Since 2008, Yen Gains More; Australian Inflation as Expected; Markets Await Fed Meeting Later Today

Forex Today: Markets Await Preliminary German Inflation Data

Jul 29, 2024 | 23:17 pm

German CPI Awaits; Asian Stock Markets Mostly Lower

Forex Today: Week of US, Japan, UK Central Bank Meetings

Jul 28, 2024 | 23:16 pm

Three Major Central Banks Meet This Week; Asian Stock Markets Mostly Higher; Indian Rupee Still Threatens Record Breakdown

Bank of Canada Lowers Interest Rates for a Second Consecutive Month

Jul 25, 2024 | 03:16 am

The Bank of Canada has cut rates by 25 basis points to 4.50%, but the Canadian dollar showed only a muted response to the rate cut.

Forex Today: Stocks Plummet, Japanese Yen Surges

Jul 24, 2024 | 23:21 pm

Risk Sentiment Deteriorates With Big Tech Selloff, S&P 500 Index Worst Day in Almost a Year, Asian Stocks Follow Sharply Lower; Bank of Canada Cuts Rates by 0.25%; USD/JPY, Silver Hit 2-Month Low; Indian Rupee Still Threatens Record Breakdown

Forex Today: Bank of Canada Rate Cut Expected

Jul 23, 2024 | 23:04 pm

Bank of Canada Expected to Cut Rates by 0.25%; USD/JPY Hits 2-Month Low, US Dollar Bulls Push Into Resistance Zone; Indian Rupee Threatens Record Breakdown

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