Forex News Live Today: The Ultimate Source for Forex News

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  The Latest Forex News Live Today:

  • AUD/JPY clings to a psychological level with a positive sentiment

    Apr 22, 2024 | 18:52 pm

    AUD/JPY maintains stability on Tuesday following gains in the previous session.

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  • BoJ’s Ueda: Future monetary policy guidance will depend on economy, price, and market development at the time

    Apr 22, 2024 | 18:49 pm

    Bank of Japan (BoJ) Governor Kazuo Ueda said on Tuesday that the Japanese central bank doesn’t have any preset idea on the timing, or pace of future rate hikes, adding that future monetary policy guidance will depend on economy, price, market development at the time, per Reuters.

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  • Japanese Yen bounces off multi-decade low against USD, lacks follow-through

    Apr 22, 2024 | 18:47 pm

    The Japanese Yen (JPY) ticks higher against its American counterpart during the Asian session on Tuesday and recovers a major part of the previous day's losses to a fresh 34-year low, though any meaningful recovery still seems elusive.

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  • USD/CAD trades on a softer note below 1.3700 ahead of US PMI data

    Apr 22, 2024 | 18:25 pm

    The USD/CAD pair extends its downside near 1.3695 despite lower crude oil prices.

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  • Japan finance minister Suzuki says the weak yen has pros and cons for the economy

    Apr 22, 2024 | 18:17 pm

    Japan's finance minister Suzuki says he explained at last week's meeting in Washington Japan's strong concern over how the weak yen pushed up the cost of imports.Japan's concern was shared at meeting with South Korea the trilateral meeting included the USWon't deny that last week's discussions in Washington have laid groundwork for Japan to take appropriate FX actionOK, that last point, Suzuki finally making an impact! USD/JPY dip buyers will be toasting him. This article was written by Eamonn Sheridan at www.forexlive.com.

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  • PBoC sets USD/CNY reference rate at 7.1059 vs 7.1043 previous

    Apr 22, 2024 | 18:16 pm

    The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1059 as compared to the previous day's fix of 7.1043 and 7.2437 Reuters estimates.

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  • Japan’s Suzuki: Government ready to respond appropriately to excessive FX moves

    Apr 22, 2024 | 17:55 pm

    Japanese Finance Minister Shunichi Suzuki offered some verbal intervention on Tuesday.

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  • Japan Jibun Bank Services PMI: 54.6 (April) vs 54.1

    Apr 22, 2024 | 17:32 pm

    Japan Jibun Bank Services PMI: 54.6 (April) vs 54.1

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  • Japan April preliminary PMI Manufacturing 49.9 (prior 48.2) Services 54.6 (prior 54.1)

    Apr 22, 2024 | 17:31 pm

    Composite is 52.6, prior 51.7Japan's manufacturing PMI is on approach to expansion but not quite there.49.9 in April from 48.2 in Marchremaining in contraction for 11 straight monthsFlash services PMI at 54.6 in April is its highest since May 2023 This article was written by Eamonn Sheridan at www.forexlive.com.

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  • Japan Jibun Bank Manufacturing PMI registered at 49.9 above expectations (48) in April

    Apr 22, 2024 | 17:30 pm

    Japan Jibun Bank Manufacturing PMI registered at 49.9 above expectations (48) in April

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  • WTI holds below $82.00 on easing Middle East tensions, hawkish Fed

    Apr 22, 2024 | 17:23 pm

    Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.00 on Tuesday.

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  • Aussie dollar trades back above US$0.64

    Apr 22, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar is stronger this morning when valued against the Greenback, currently trading at 0.6446 at time of writing. The Aussie dollar yesterday fared better than most of its rival counterparts against the Greenback partly because commodities, which Australia is a major exporter of, are holding their value better than expected. The supportive effect may not last, however, since Iron Ore, which is Australia’s largest export, could be peaking and about to roll over. The Australian dollar may encounter challenges ahead, particularly as domestic inflation continues to moderate, aligning with the Reserve Bank of Australia's (RBA) latest forecasts. Furthermore, the persistently tight labour market could lead to calls for an RBA rate reduction before the year's end. On the data front, today we will see the release of the Purchasing Managers' Index (PMI). On Wednesday, the Australian Bureau of Statistics will release the latest Consumer Price Index (CPI), which is expected to increase from 0.6% to 0.8% for the last quarter. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. Finally on Friday we will see the release of the Producer Price Index (PPI). Key Movers US equities on Monday opened higher in the early going, but there have been frequent bouts of strength in the latest six-day losing streak that have ultimately been overwhelmed by sellers. In early trading, the index is up 20 points, or 0.45%, which is a tad softer than futures indicated. 10-year US Treasury yields jump to 4.64% as Federal Reserve (Fed) policymakers argue that the current restrictive monetary policy framework is appropriate given strong labor demand and stubbornly higher price pressures. On the data front, the Chicago Fed National Activity Index (CFNAI) rose to +0.15 in March from +0.09 in February. Two of the four broad categories of indicators used to construct the index increased from February and two categories made positive contributions in March. The Chicago Fed's National Activity Index is a monthly indicator designed to gauge overall economic activity and related inflationary pressure. The personal consumption and housing category's contribution to CFNAI was -0.01 in March, down from +0.02 in February, the Chicago Fed said on Monday. Looking ahead for the rest of the week and Federal Reserve officials will begin its blackout period ahead of the May 1 meeting. However, April PMIs and housing data will be released by S&P Global. Expected RangesAUD/USD: 0.6350 - 0.6550 ▲AUD/EUR: 0.5950 - 0.6150 ▲GBP/AUD: 1.9050 - 1.9250 ▼AUD/NZD: 1.0800 - 1.1000 ▲AUD/CAD: 0.8750 - 0.8950 ▼

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  • Australian Consumer Confidence weekly survey falls to its lowest this year (so far)

    Apr 22, 2024 | 16:53 pm

    ANZ-Roy Morgan Australian Consumer Confidence fell 3.2pts to its lowest this year.80.3 this weekprior 83.5Comment from ANZ:Economic and financial subindices all dropped. Confidence fell across housing cohorts, particularly so amongst renters. This article was written by Eamonn Sheridan at www.forexlive.com.

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  • Gold dips amid reduced geopolitical tensions

    Apr 22, 2024 | 16:31 pm

    Gold prices plummet sharply and retrace last week's gains, down more than 2.50% as the Middle East's woes abate.

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  • AUD/USD rises on risk-on mood, upbeat PMIs

    Apr 22, 2024 | 16:28 pm

    The Aussie Dollar began the week on the front foot and registered gains against the US Dollar on Monday, gaining more than 0.54% as risk appetite improved.

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  • Tesla Stock Forecast: TSLA sinks to lowest level in 15 months with earnings on tap

    Apr 22, 2024 | 16:28 pm

    Tesla (TSLA) sank 3.4% to close at $142.05 per share on Monday, just one day before the electric vehicle (EV) automaker is scheduled to deliver quarterly results.

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  • EUR/USD steady near 1.0650 as markets gear up for PMI-heavy Tuesday

    Apr 22, 2024 | 16:22 pm

    The EUR/USD is testing the waters near 1.0650 after a quiet Monday saw the major pair flatline ahead of a densely-packed economic data docket.

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  • Judo Bank Australian Composite PMI accelerates to its highest rate in two years at 53.6

    Apr 22, 2024 | 16:12 pm

    Australia's Judo Bank Purchasing Managers Index (PMI) Composite rose to a 24-month high of 53.6 in April compared to the previous month's 53.3.

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  • GBP/USD remains on the defensive near 1.2350, investors await UK, US PMI data

    Apr 22, 2024 | 16:12 pm

    The GBP/USD pair remains on the defensive near 1.2350, the lowest since mid-November on Tuesday during the early Asian session.

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  • Australia Judo Bank Services PMI down to 54.2 in April from previous 54.4

    Apr 22, 2024 | 16:01 pm

    Australia Judo Bank Services PMI down to 54.2 in April from previous 54.4

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  • Australia Judo Bank Composite PMI: 53.6 (April) vs 53.3

    Apr 22, 2024 | 16:01 pm

    Australia Judo Bank Composite PMI: 53.6 (April) vs 53.3

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  • Australia April preliminary PMI Manufacturing 49.9 (prior 47.3) Services 54.2 (prior 54.4)

    Apr 22, 2024 | 16:00 pm

    Judo Bank S&P Global PMI Flash / Preliminary for April 2024Manufacturing nearly jumped into expansion at a 3-month high, but not quite hitting the 50 line.Services a tickle lower.Composite moves to its highest since April 2022Some of the pertinent commentary from the report. On inflation pressure:The price indicators were up slightly in April, suggesting inflation within the Australian economy is above the RBA’s target and ‘sticky’. Cost pressures are rising, which survey respondents put down to a combination of higher raw materials prices and the effects of a weaker Australian dollar.While margin pressures are still evident in both the service sector and the manufacturing industry, businesses are still succeeding at passing on higher costs to final prices.On the RBA, bolding is mine:The Judo Bank PMI highlights the resilience of the business sector in Australia. The business sector continues hiring and investing even as consumers remain cautious. With employment levels continuing to expand and pressure on household finances easing in 2024, this ‘soft landing’ view is increasingly being threatened by the ‘cyclical recovery’ view.The RBA will likely be concerned that a pick-up in activity, before inflation returns to target, could threaten medium to long-term price stability. These results are inconsistent with interest rate reductions at any stage in the foreseeable future and raise the risk that the RBA may have to start hiking again at some stage over the back half of 2024. This article was written by Eamonn Sheridan at www.forexlive.com.

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  • Australia Judo Bank Manufacturing PMI climbed from previous 47.3 to 49.9 in April

    Apr 22, 2024 | 16:00 pm

    Australia Judo Bank Manufacturing PMI climbed from previous 47.3 to 49.9 in April

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  • Dow Jones gains ground on Monday as risk appetite lurches higher

    Apr 22, 2024 | 15:48 pm

    The Dow Jones Industrial Average (DJIA) is on the run into the top side to open the new trading week, with the index climbing into a five-day peak above 38,400.00.

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  • JP Morgan's Kolanovic says the slide in US stocks is not over

    Apr 22, 2024 | 15:34 pm

    Via a note from Kolanovic on Monday, saying the fall for US stocks is likely to extend lower, citing rising risks to the macroeconomy, including:rising Treasury yieldsstrong US dollarhigh oil pricesAnd: complacency around equity valuationsinflation staying hotdiminishing expectations for imminent Fed rate cutsoverly optimistic profit outlookSees some temporary stability this week due to earnings results. “The correction likely has further to go”“Market concentration has been very high, and positioning extended, which are typically red flags, at risk of a reversal” the current market narrative is very similar to last US summer, when upside inflation surprises and hawkish Fed revisions triggered a drop in risk assetsinvestor positioning appears more elevated now“The multiple expansion seen in past months, extremely low volatility metrics up to recently, tightest credit spreads since 2007, and the general inability by market participants earlier in the year to identify any potential negative catalysts for stocks are starting to shift”S&P 500 daily chart: This article was written by Eamonn Sheridan at www.forexlive.com.

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  • NZD/USD Price Analysis: Bears hold sway, subtle signs of potential bullish reversal emerging

    Apr 22, 2024 | 14:32 pm

    The NZD/USD pair advanced to 0.5920 on Monday, reflecting a gain of 0.47%.

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  • Canadian Dollar finds room up top ahead of Tuesday's US PMI figures

    Apr 22, 2024 | 14:18 pm

    The Canadian Dollar (CAD) is moderately higher on Monday, trading into the green against most of its major currency peers.

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  • US Dollar holds ground on quiet Monday

    Apr 22, 2024 | 14:08 pm

    The US Dollar Index (DXY) is mildly edging higher on Monday, currently trading at 106.20.

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  • South Korea Producer Price Index Growth (MoM) dipped from previous 0.3% to 0.2% in March

    Apr 22, 2024 | 14:00 pm

    South Korea Producer Price Index Growth (MoM) dipped from previous 0.3% to 0.2% in March

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  • South Korea Producer Price Index Growth (YoY) rose from previous 1.5% to 1.6% in March

    Apr 22, 2024 | 14:00 pm

    South Korea Producer Price Index Growth (YoY) rose from previous 1.5% to 1.6% in March

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  • ICYMI: UBS downgraded Magnificent 6 tech stocks (6 = 7 minus Tesla) to Neutral

    Apr 22, 2024 | 13:43 pm

    UBS downgraded the "Big Six" tech stocks from Overweight to Neutral: AmazonAppleAlphabetNvidiaMetaMicrosoftUBS cite:"difficult comps and cyclical forces weighing on these stocks"previously outsized earnings for these are "collapsing" ... earnings per share growth for this group is expected to slow to 15.5% from 42.2% by Q1 of 2025 This article was written by Eamonn Sheridan at www.forexlive.com.

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  • Economic calendar in Asia Tuesday, 23 April 2024 - preliminary PMIs from Australia & Japan

    Apr 22, 2024 | 13:16 pm

    It's a lower-tier data day only in Asia.This snapshot is from the ForexLive economic data calendar, access it here.The times in the left-most column are GMT.The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected. This article was written by Eamonn Sheridan at www.forexlive.com.

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  • Trade ideas thread - Tuesday, 23 April, insightful charts, technical analysis, ideas

    Apr 22, 2024 | 13:15 pm

    Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: This article was written by Eamonn Sheridan at www.forexlive.com.

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  • Forexlive Americas FX news wrap: US dollar gives back gains as risk mood improves

    Apr 22, 2024 | 13:01 pm

    Eurozone April flash consumer confidence -14.7 vs -14.4 expectedCanada March PPI -0.5% y/y vs -1.7% priorCanada March new housing price index 0.0% vs +0.1% expectedBank of American now sees USD/JPY peaking this year in the 155-160 rangeAnother earthquake felt in TaiwanMarkets:Gold down $61 to $2329US 10-year yields flat at 4.61%WTI crude oil down 12-cents to $82.85AUD leads, GBP lagsS&P 500 up 0.8%The newsflow was light ahead of a big week of earnings along with some key economic data points. The Fed has entered the blackout so that also helped to keep a lid on the noise.That said, there was still plenty of volatility. The euro and pound were particularly soft as the US arrived, falling to 1.0625 and 1.2300 respectively. That was an ominous sign for equities, which initially opened solidly higher before giving back all the gains. However seven straight days of declines was too much of the stock market to contemplate and the bulls finally arrived with strong bids.That helped to turn the tide in FX, returning the euro to unchanged on the day at 1.0650. The pound couldn't complete the comeback but rose a half-cent from the lows.The commodity currencies outperformed despite strong declines in gold and silver. Oil was choppy as the geopolitical risk faded but it managed to rebound back to unchanged. USD/JPY is a spot to watch in the hours ahead and for the rest of the week with the BOJ on tap Wednesday. The pair stretched to a fresh 34-year high at 154.86 and eyes are on the big figure as a potential spot where intervention could take place. So far there are no signs of that but the market looks like it wants to tip-toe closer so attention is warranted. This article was written by Adam Button at www.forexlive.com.

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  • S&P 500 climbs nearly 1% to end the six-day losing streak

    Apr 22, 2024 | 12:59 pm

    Closing changes on the day: S&P 500 up 0.8%DJIA +0.7%Russell 2000 +1.1%Nasdaq Comp +1.0%Toronto TSX Comp +0.3%The S&P 500 opened 25 points higher before giving it all back over the first two hours of trading and briefly trading lower. However it found some support there with dip buyers stepping in, leading to a rally of 70 points at the highs. Some selling crept in over the final 90 minutes but not enough to spoil the win. This article was written by Adam Button at www.forexlive.com.

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  • NZD/JPY Price Analysis: Bullish momentum gains as bears failed to conquer the 20-day SMA

    Apr 22, 2024 | 12:53 pm

    The NZD/JPY rose to 91.59 on Monday and maintains a steady uptrend.

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  • Mexican Peso depreciates against US Dollar amid an economic expansion

    Apr 22, 2024 | 12:41 pm

    The Mexican Peso tumbles on Monday as the North American session reaches lunchtime, though it remains well below the year-to-date (YTD) low reached on April 19, when the USD/MXN rose toward 17.92.

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  • WTI churns close to $82.00 as Crude Oil tries to stop the slide

    Apr 22, 2024 | 12:19 pm

    Iran eased off the gas pedal on Monday, stating that it will not retaliate further against Israel following a back-and-forth scuffle between the two countries that sent global energy markets spiraling in recent weeks as fears of a widening Middle East conflict widened.

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  • AUD/JPY Price Analysis: Climbs as buyers regain control, target 100.00

    Apr 22, 2024 | 12:07 pm

    The AUD/JPY rallies sharply amid a risk-on impulse as Wall Street resumes its rally amid a light economic docket.

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  • How Blockchain Can Deliver the Open Finance Revolution

    Apr 22, 2024 | 11:59 am

    The next generation of innovation in finance is dawning, and the open finance revolution has the potential to transform operations throughout many sectors.

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  • ANF should resume rally from extreme areas

    Apr 22, 2024 | 11:57 am

    Abercrombie & Fitch Co., (ANF) operates as an omnichannel retailer in the United States, Europe, Middle East, Asia & Asia-Pacific & Internationally.

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  • Bank of American now sees USD/JPY peaking this year in the 155-160 range

    Apr 22, 2024 | 11:54 am

    Bank of America has revised its forecast for the USD/JPY exchange rate upwards, predicting that it will reach higher levels by the end of 2024 and 2025. The adjustment is based on several factors including sustained capital outflows from Japan, an accommodative monetary policy stance by the Bank of Japan (BoJ), and the dynamics of U.S. interest rates.Key Points:Revision of Rate Projections: BofA has increased its forecast for the USD/JPY from 142 to 155 by the end of 2024, with a peak expected in the 155-160 range during the year. For the end of 2025, the forecast has been adjusted from 136 to 147. These revised forecasts are notably higher than current Bloomberg consensus and forward rates.Capital Outflows from Japan: There is clear evidence of accelerated capital outflows from Japan, which is a significant driver of the yen's depreciation. These outflows are primarily directed towards the U.S., fueled by differences in return expectations and economic prospects between the two countries.BoJ’s Accommodative Policy: The BoJ is likely to maintain an accommodative monetary policy with the policy rate remaining in negative territory. This stance contrasts with the U.S. Federal Reserve's policy trajectory, further influencing the USD/JPY exchange rate.Impact of U.S. Rate Cuts on Repatriation Flows: BofA analysts argue that even if the Fed were to cut rates, which would generally support risk assets, it is unlikely to trigger significant repatriation flows back to Japan. This is due to the nature of equity investments driving the outflows, where Japanese investments in U.S. equities are likely to remain in place despite potential rate cuts.Conclusion: The upward revision in BofA’s USD/JPY forecasts reflects a combination of structural and policy-related factors that are expected to weaken the Japanese yen against the U.S. dollar over the next few years.For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. This article was written by Adam Button at www.forexlive.com.

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  • Oil bounces around before finishing lower by 29-cents

    Apr 22, 2024 | 11:49 am

    Iran-Israel geopolitical risk continued to come out of oil today but the decline wasn't as bad as feared. WTI finished the day down 29-cents to $82.82, well above the low of $81.85.It was no-doubt helped by the broader improvement in risk appetite and US dollar selling that emerged halfway through US trading. That comes after a six-day rout in stocks that looks like it will end today (SPX up 1.4% currently). This article was written by Adam Button at www.forexlive.com.

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  • Another earthquake felt in Taiwan

    Apr 22, 2024 | 11:40 am

    The earthquake earlier this month led to some serious damage. It's not yet clear if this is an aftershock or something worse. It's currently very early in the morning in Taipei.Earlier today a 5.5 magnitude earthquake hit just off the coast while the quake at the start of the month was 7.4 and one of the strongest earthquakes there on record.Early reports peg the latest one at a magnitude of 6.1. With that, I wouldn't expect any damage but it will no doubt keep the people of Taiwan unnerved. This article was written by Adam Button at www.forexlive.com.

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  • Canadian dollar rallies for fourth day. What's next

    Apr 22, 2024 | 11:28 am

    The Canadian dollar has climbed for four straight days, which sounds impressive at the outset but it masks that it fell even harder in the four days before that, touching the worst levels since November.In any case, it has climbed for four days in a tough tape for risk assets and oil. That's notable and it highlights a few things that have been driving it:1) The Federal BudgetThe government hiked capital gains taxes but there was fear about a corporate tax hike or windfall taxes. That might have weighed on the loonie previously and contributed to a stronger rebound.2) The housing market is picking upMy #1 fear for CAD coming into the year was a bad spring housing market and some kind of disorderly breakdown in housing. Instead, it's increasingly clear that housing is bottoming or turning up (at least temporarily). Home sales have picked up and some bidding wars have even returned in a reflection of a country with too many people and not enough houses. With that, the tail risk that the BOC would have to slash rates to counter a housing crunch has faded.Overall, I don't see the rebound as particularly meaningful. The BOC is still going to cut rates more than the Fed this year and terminal rates are also headed lower for a sustained period. The upshot might be an ongoing global soft landing and/or upside risks in China that could keep CAD in favor. I think it's too early for that trade though and buying USD/CAD close to 1.36 is a better trade from here. This article was written by Adam Button at www.forexlive.com.

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  • S&P 500 rebounds, adds to gains

    Apr 22, 2024 | 10:19 am

    The S&P 500 has extended today's gain to 37 points, or 0.75% after briefly trading into negative territory.Stocks opened higher today but slid in the first two hours of trading before finding a bottom near unchanged on the day. There are still nearly 3 hours of trading left and the bulls won't be declaring victory yet.Today after the close, we get earnings from steel giants Nucor and Cleveland-Clffs, which could provide some feedback on the industrial economy and auto demand but the bigger numbers come tomorrow in the AM from UPS, GE, GM and Spotify, followed by Tesla and Visa after hours. This article was written by Adam Button at www.forexlive.com.

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  • TD: The most-important data print for the year

    Apr 22, 2024 | 10:02 am

    TD Securities underscores the significance of Friday's core PCE data, considering it pivotal for shaping market expectations and movements in 2024. Amid fluctuating market sentiments and diverse economic indicators, this release is anticipated to be a crucial determinant of future monetary policy and currency valuations.Key Points:Significance of Core PCE Data: TD Securities posits that this week’s core PCE print could be one of the year's most crucial data releases, potentially setting the stage for monetary policy direction and market movements for the remainder of the year.Market Uncertainty and Sentiment: Recent discussions with clients across Europe reveal a general lack of conviction in current market directions, though there is a consensus that a significant pivot point may be near. This sentiment is mirrored by the market’s mixed reactions to various economic indicators such as growth divergence, risk correlations, and central bank policies.Influence on USD and Risk Assets: The core PCE data is particularly critical as it directly influences perceptions of inflation and, consequently, the Fed's rate decisions. A result that aligns with expectations of cooling inflation could support a moderate reversal in USD strength through the third quarter, benefiting risk assets and potentially realigning Fed rate expectations with those of other G10 central banks.Implications of an Unexpectedly High Inflation Print: Conversely, a higher-than-expected inflation figure could diminish prospects for Fed rate cuts this year, likely leading to further USD appreciation and adverse impacts on risk assets. This scenario would reinforce the dollar’s strength on the back of persistent inflation and diverging central bank policies.Conclusion:The upcoming core PCE print is pivotal in determining short- to medium-term market dynamics and central bank actions. Investors and traders should prepare for potential volatility following this release, as it could significantly influence market sentiment and strategic positioning. The outcome could either affirm a trajectory toward easing monetary conditions or herald continued restrictive policies driven by persistent inflationary pressures.For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. This article was written by Adam Button at www.forexlive.com.

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  • Have we hit the point of maximum pain on bonds?

    Apr 22, 2024 | 09:48 am

    The US is selling 2-year yields this week and there are fears the Treasury could be paying 5%.Right now, the on-the-run 2s are trading at 4.96% and sales haven't exactly gone swimmingly lately, especially with the massive auction sizes. Here is how the chart looks on 2s:I want to highlight a couple things:Two-year yields are the most-liquid expression of where investors think rates will be over that timeframe. There's a slight term premium but you're basically weighing rolling bills over against locking in rates. When we were down at 4.2% the market was pricing in substantial rate cuts, not anymore.What happened last time 2s rose above 2%? It didn't take long for the Fed ans Treasury to both start freaking out. The Treasury cut auction sizes and lowered duration while the Fed pivoted. I don't think that was a coincidence.Most people got inflation wrong this year in the US as it's been stubbornly high for three months and now commodities are pressing. That said, inflation is falling elsewhere which makes me think it's more US-specific than global. That's in part due to huge US fiscal deficits, 30-year fixed mortgages and US business excellence -- particularly multinational tech.However it's also due to some strange factors like high auto and health insurance rates that shouldn't be persistent. Most-notably it's because of rent inflation and how owners'-equivalent rent is calculated. Given that, consider this chart from Matthew Boesler:Rents have flattened out, it just hasn't appeared in the CPI yet. Perhaps this week we get some divergence with PCE, which is the Fed's preferred measure of inflation. If so, the market could quickly lean back towards rate cuts, weighing on the US dollar and boosting risk assets. This article was written by Adam Button at www.forexlive.com.

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  • USD/JPY creeps closer to a critical level

    Apr 22, 2024 | 09:24 am

    USD/JPY is in the intervention-danger zone. The pair is up 20 pips to 154.85, which is a fresh 34-year high.The market is eagerly watching to see whether the Japanese Ministry of Finance intervenes to protect 155.00, which is just 15 pips away. This article was written by Adam Button at www.forexlive.com.

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  • Power demand will turn out to be the toughest problem of the 2020s

    Apr 22, 2024 | 08:45 am

    I wrote earlier this month about why a perfect storm is about to hit global power grids.Investors and companies spend very little time thinking about electricity. For most companies and consumers -- at least outside of South Africa -- simply hook up to the grid and turn o the lights.The same was true of the data centre business for much of its existence but that's changing quickly. The Xbox network in California alone already uses more electricity than entire African countries and things like generative AI will crunch grids further.Here is a (slightly dated) chart showing the acceleration in power demand from tech companies.Here was Sam Altman last month:“We still don’t appreciate the energy needs of this technology. There’s no way to get there without a breakthrough. We need fusion, or we need like radically cheaper solar plus storage or something at massive scale."On Friday, Mark Zuckerberg gave an interview where he made the same point.One of the things he highlights is the slow pace of energy permitting, including generation and transmission lines. Add into that the difficulties of getting green metals like copper and lithium out of the ground and you have a problem. Then factor in the need to limit carbon dioxide emissions and it's compounded.Right now, the market is turning to natural gas and coal to feed into new demand but that's not going to work in the long term.Zuckerberg argues that it's a good idea to invest $10 billion or $100 billion into securing power supply but he also talks about the uncertainty around how much is needed and why it's a tough decision to commit that capital. That hesitancy and the long lead times will lead to an inevitable crunch.Investing around that theme is tricky. If we're power-limited then perhaps there's a case for the utilities themselves but they're heavily regulated and that means that the payoff is moderate at best. There are companies building out transformers and the like but some have already moved and that's still a relatively small industry. Natural gas is cheap right now and that may ultimately be the beneficiary even though many people would rather the demand go to green energy instead. What's happening is that places like Texas with abundant natural gas are courting data centres.I'm sure there are other avenues I haven't considered but I think many roads lead to copper because there simply isn't enough supply and lead times for new mines are extraordinary. The risk is that China's demand for copper drops on a soft economy, creating some breathing room. However the risks run both ways as demand for power, EVs and robotics could supercharge the supply deficit. This article was written by Adam Button at www.forexlive.com.

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  • European equities score a win, led by the FTSE 100

    Apr 22, 2024 | 08:37 am

    FTSE 100 dailyClosing changes:Stoxx 600 +0.6%German DAX +0.6%UK FTSE 100 +1.7%French CAC +0.2%Italy MIB -0.7%Spain IBEX +1.5%There haven't been many days of significant UK outperformance in the past year. This article was written by Adam Button at www.forexlive.com.

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  • Nasdaq gives up gains, threatens seventh consecutive day of declines

    Apr 22, 2024 | 08:04 am

    It's a huge week for the Nasdaq with earnings from Tesla, Meta, Microsoft, Alphabet, Intel and Snap. At the moment, the market is clearly worried and chipmakers are particularly soft.The Nasdaq has fallen for six straight days and early gains today have evaporated with the index now trading flat.Zooming out, there's a saying that 'bull markets go up the escalator and correct down the elevator'. That means that in bull markets, there are often steady gains interrupted by sharp corrections. That's the kind of thing we're seeing right now and it gives me confidence that we're still in a bull market, despite the dismal mood.We've also seen a handful of times in recent years where tech stocks sell ahead of earnings and then rally when they're not as bad as feared. That said, the bar is high for some of these companies, particularly megacap tech and chipmakers. Last week, Netflix reported solid earnings but crumbled anyway and it's down another 0.7% today.A big problem is rising Treasury yields. The catalyst for tech is likely to be a turn lower in US economic data, and inflation in particular. There's still plenty of reason to believe that will happen.Here's the Bank of America CFO:“So you’re seeing the consumer hang there and continue to spend, but spend at a level that’s more consistent with a more trend type of economy and we will see all that play out over the sense of the next quarter…if you just extended that through from the fourth quarter of 2019 to today, given that the economy is 30% larger, we kind of feel like consumer is approaching that floor, so we’re still in this belief that Q2 is going to be--Q3 may be the turning point for consumer. You can see that slowing now."Here's the CFO of American Express:"Overall, while we do continue to see a softer spend environmentHere's the Discover CFO:“Sales slowed across categories with the largest decline occurring in the everyday category, which includes supermarkets, gas and wholesale clubs. While we continue to add new accounts, in general, we are seeing card members spend less, particularly among lower-income households which are most impacted by the cumulative effects of inflation. Based on trends in the period, we expect sales to be flat to slightly negative this year This article was written by Adam Button at www.forexlive.com.

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  • Eurozone April flash consumer confidence -14.7 vs -14.4 expected

    Apr 22, 2024 | 07:00 am

    Prior was -14.9The long-term average for this indicator is -11 so there is work to do in order to get back to an area where you can price in modest growth. Data released by the European Commission. This article was written by Adam Button at www.forexlive.com.

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  • Gold takes a beating, down $59

    Apr 22, 2024 | 06:40 am

    It's been one-way trading in gold since the start of March but the fever appears to have broken today, with prices down $59 to $2332.There's some minor support from a vague trendline at $2310 but the bigger level is the old all-time high near $2200.The driver for gold so far this year is Asian demand, likely from the PBOC. That's been supplemented more recently by retail buying and some financial buying. That appetite will be tested by this move as there have been few dips to buy in the past two months.The problem right now is that rising bond yields are competing for capital. US 2-year notes pay nearly 5% and until that starts going down because of Fed rate cuts, it will remain a headwind for gold. This article was written by Adam Button at www.forexlive.com.

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  • S&P 500 opens moderately higher. Eyes on NVDA stock

    Apr 22, 2024 | 06:34 am

    US equities are higher in the early going but there have been frequent bouts of strength in the latest six-day losing streak that have ultimately been overwhelmed by sellers.In early trading, the index is up 20 points, or 0.45%, which is a tad softer than futures indicated.Keep an eye on Nvidia in particular, which fell 10% on Friday.Shares of NVDA are up 3.4% so far. I would peg support at $750, which was the opening gap in February. This article was written by Adam Button at www.forexlive.com.

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  • US equity futures point to a bounce after a six-day losing streak

    Apr 22, 2024 | 06:06 am

    Last week was the worst of the year for major US averages with the Nasdaq particularly soft. Today, index futures are higher with S&P 500 futures up 29 points, or 0.6%. Nasdaq futures are up 0.7%.Eyes are on Tesla with shares down 3% pre-market after more price cuts in the US and China.UBS has downgraded the stocks of six major tech companies - Apple, Amazon, Alphabet, Meta, Microsoft, and Nvidia - from 'overweight' to 'neutral'. This article was written by Adam Button at www.forexlive.com.

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  • Aussie dollar trades below US$0.64

    Apr 21, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar is weaker this morning when valued against the Greenback currently trading at 0.6411 at the time of writing. The Aussie dollar fell on Friday below 0.6400 as riskier assets faced pressure due to heightened geopolitical risk across financial markets. Last week on the local front Australia's unemployment rate rose slightly to 3.8 per cent after 6600 jobs were lost in March, a stronger-than-expected result that will likely end any chance of a mid-year interest rate cut. The jobless rate, revealed today by the Australian Bureau of Statistics, is only a marginal increase on last month's surprisingly low figure of 3.7 per cent and slightly better than market forecasts of a larger rise to 3.9 per cent. A tight labour market means the Reserve Bank is unlikely to pull the trigger on an interest rate cut until towards the end of the year. Looking ahead to this week and today we will see the release of the Flash Manufacturing PMI. A survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories. On Wednesday the Australian Bureau of Statistics will release the latest Consumer Price Index (CPI) which is expected to increase from 0.6% to 0.8% for the last quarter. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. Finally, on Friday we will see the release of the Producer Price Index (PPI). Key Movers The US dollar Index (DXY) is currently trading at 106.09, a mild loss from its recent peak of 106.35. Despite this, the index remains geared toward testing its November 1 high of 107.10. The number of Americans filing new claims for unemployment benefits was unchanged at a low level last week, pointing to continued labor market strength that is driving the economy. Initial claims for state unemployment benefits were unchanged at a seasonally adjusted 212,000 for the week ended April 13, the Labor Department said on Thursday. Labor market resilience, together with elevated inflation have led financial markets and some economists to expect that the Federal Reserve could delay cutting interest rates until September. A few economists doubt that the U.S. central bank will lower borrowing costs this year. The Pound Sterling tumbled against the US dollar during the mid-North American session on Friday after a volatile trading day due to geopolitical risks. The GBP/USD currently trades at 1.2367, down 0.49%. British Retail Sales showed signs of stagnation during the European session in March compared to February’s reading. Analysts were expecting sales to grow 0.3% MoM, which came at 0%, while core sales tumbled from 0.3% to -0.3%. On an annual basis, the Office for National Statistics (ONS) revealed that sales rose by 0.8%, which is up from a drop of -0.3% in February. Expected RangesAUD/USD: 0.6300 - 0.6500 ▼AUD/EUR: 0.5900 - 0.6100 ▼GBP/AUD: 1.9150 - 1.9350 ▲AUD/NZD: 1.0800 - 1.1000 ▲AUD/CAD: 0.8700 - 0.8900 ▼

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  • Aussie slides on prospect of US rate hike

    Apr 18, 2024 | 17:00 pm

    AUD - Australian dollar The AUD is lower this morning having given up a quarter percent amid higher US treasury yields and a hawkish Federal Reserve. Domestic employment data did little to move the AUD with unemployment rate edging higher, up to 3.8%, yet holding onto most of the decline seen in February when the rate fell from 4.1% to 3.7%. If we exclude January as a seasonal outlier the unemployment rate has tracked below 4% through the last two years, suggesting there is resilience within the labour force despite signs employment growth is stalling. This latest print does little to alter market expectations for RBA monetary policy and we are still looking toward a possible cut in Q4. Having tracked between US$0.6440 and US$0.6450, the AUD then fell through overnight trade amid the prospect of a potential US rate hike. Fed policy makers made clear that if inflation remained sticky and the data indicated a rate hike was needed to bring inflation back to target then that is what they would do. Having slipped below US$0.6420 the AUD tracked sideways into this morning’s open and currently trades at US$0.6419. With no domestic data on hand to drive direction we look to Japan CPI and UK retails sales as the only items of note on the macroeconomic calendar. US yields will continue to determine direction and we anticipate the AUD will remain on the back foot next week. Key Movers The US dollar is stronger this morning having reversed losses suffered through trade on Wednesday amid hawkish Fed commentary and a general risk-off tone. Yields pushed higher after NY Fed President and FOMC member Williams suggested another rate hike was not out of the question, stating “monetary policy is in a good place, I am in no hurry to cut interest rates and if the data are telling us that we need higher interest rates to bring inflation back to target then we obviously want to do that”. With USD again on the front foot, the euro slid back below 1.0650, while sterling gave up 1.2450 and the yen again gave up 154.50 and appears poised to break through 155. US treasury Secretary Yellen and the Finance Ministers of Japan and Korea met to discuss the recent and sharp depreciation of the yen and the won, offering a joint statement acknowledging the US would not stand in the way of any official currency intervention. Upon release of the statement the yen tracked higher, but Treasury yields carried the day and the USD recovered losses and is back near 154.70 on open this morning. Our attentions turn now to Japanese CPI data and UK retail sales data as the only tier one data headlining an otherwise quiet macroeconomic calendar. Expected RangesAUD/USD: 0.6380 - 0.6500 ▼AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9250 - 1.9500 ▲AUD/NZD: 1.0820 - 1.0920 ▼AUD/CAD: 0.8800 - 0.8900 ▼

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  • Forex Today: Stocks Tumble – Sell in May and Go Away?

    Apr 18, 2024 | 00:27 am

    Stocks Make Deepest Pullback in Months; Precious Metals Remain Strong; Dollar Weakens After G7 Statement; Several Trends May Be Reversing

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  • AUD finds support as market ignores risk off tone

    Apr 17, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar outperformed through trade on Wednesday, pushing back against recent losses to break above US$0.6450. Commodity currencies were well supported as currency markets ignored a broader risk-off mood and instead forced the USD lower amid a steady fall in treasury yields across the curve. With the USD on the back foot, the AUD found support in higher iron ore prices and stability across the Chinese yuan daily fixing. PBOC officials set a rate largely unchanged from the week's earlier downward revision helping stabilise the yuan and limiting the negative spillover into the AUD as a proxy. Reports of increased activity across China’s steel mills help drive a 5.5% increase in iron ore prices and a break back above $115, adding a floor under the AUD at US$0.64 for the day. Our attention now turns to domestic labour market data for March. Stability across the employment landscape will give the RBA confidence in maintaining the current policy setting and may lend support to the AUD ahead of US jobless claims and commentary from 3 key Fed officials. Key Movers The euro was the day's notable outperformer Wednesday up half a percent and back through 1.0650, marking session highs at 1.0670. European Central Bank President Christine Lagarde paved the way for the Euro advance, suggesting there were clear signs of a euro area recovery and that the Bank was closely monitoring the exchange rate and its potential impact on the euro and inflation. While euro bonds fell, US treasuries also retreated and markets appeared content in ignoring a broader risk-off tone, forcing the USD lower against most major counterparts. UK yields rallied after a stronger-than-expected UK CPI inflation print, driven by a surprise uptick in services inflation. While Governor Bailey suggested he expected a significant correction in next month’s numbers, market pricing for BoE policy change barely shifted with a first full cut not priced in until September, leaving August an outside chance should policymakers choose to move early. Sterling edged higher against the USD, pushing back above 1.2450, yet falling short of a break above 1.25. Our focus now turns to US jobless claims and commentary from key ECB and Fed officials. Expected RangesAUD/USD: 0.6380 - 0.6500 ▲AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9200 - 1.9500 ▼AUD/NZD: 1.0800 - 1.0900 ▲AUD/CAD: 0.8800 - 0.8900 ▲

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  • Bitcoin Halving: Will it Trigger a Market Frenzy?

    Apr 17, 2024 | 04:41 am

    Bitcoin is all over the news, as “Bitcoin halving” is expected to occur on Friday, April 19. What is Bitcoin halving and how will it affect the price of Bitcoin?

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  • Forex Today: US Yields Rise on Powell Cut Delay Signal

    Apr 17, 2024 | 02:00 am

    Fed Chair Powell Says Inflation Falling Too Slowly; Israel Hints at Soft Retaliation, Crude Oil Weaker; USD/JPY Reaches New 34-Year High at ¥154.79; UK CPI Higher Than Expected; Bitcoin Close to Halving

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  • AUD slide continues on heels of softer yuan spills

    Apr 16, 2024 | 17:00 pm

    AUD - Australian dollar Another day and another move lower for the AUD as ongoing weakness across equity markets, a risk-off tone and a lower fixing by the People's Bank of China forced the AUD to mark fresh 2024 lows. The AUD slid through supports at US$0.6440/50 tumbling toward US$US0.64 after the People's Bank of China set a lower fix for the CNY, suggesting there is some flexibility for the yuan to depreciate against the USD in line with markets and yield performance. While state banks sold USD to limit CNY losses the move weighed on the AUD as a proxy among majors. The AUD was unable to recover the early losses and tracked sideways through the overnight session testing a break below US$0.64 before edging back above this critical handle leading into the morning open. We start the day on the back foot and with no headline data on the domestic docket look offshore to NZ, UK and Eurozone CPI data and commentary across several Central banks with members from the Fed, Bank of England and European Central Bank hitting the wires. With inflation pressures taking longer than expected to dissipate we are looking for any clues as to the timing and trajectory of monetary policy change. Key Movers The dollar traded within a narrow range through Tuesday as with much of the action across financial markets contained to equities, yields and rates. US Treasury yields marked fresh 2024 highs while US equities had a mixed session with both the Dow and S&P 500 closing lower. The DXY index traded up 0.16%, buoyed by softness across risk currencies and an extension against the yen. The risk of intervention continues to hang over the yen, yet the USD retained its upward trajectory as markets pushed back against comments from Japanese currency officials. The prohibited cost associated with intervention has allowed markets some scope to doubt calls by officials that intervention is imminent. With US yields driving gains markets remain on edge and we continue to monitor comments. The euro and GBP changed little with the euro trading near US$1.062 and GBP sliding below US$1.2450 and trading near US$1.2430. NZ, UK and Eurozone CPI data and commentary across several Central banks with members from the Fed, Bank of England and European Central Bank hitting the wires will drive direction through the day. Expected RangesAUD/USD: 0.6350 - 0.6500 ▼AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9250 - 1.9550 ▲AUD/NZD: 1.0850 - 1.0950 ▲AUD/CAD: 0.8800 - 0.8900 ▲

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  • Forex Today: Stock Markets See Strong Selling

    Apr 15, 2024 | 23:10 pm

    Global Stock Markets Firmly Lower; Israel Signals Retaliation Likely Soon; USD/JPY Reaches New 34-Year High at ¥154.44; Energies, Precious Metals Firm; Markets Await Canadian CPI Data

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  • Forex Today: Risk Sentiment Improves as Mideast Tension Lowers

    Apr 15, 2024 | 00:51 am

    Immediate Retaliation Against Iran Unlikely; USD/JPY Breaks Out to New 34-Year High Near ¥154; Market Await US Retail Sales Data

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  • Forex Today: US Monthly CPI Unchanged, Triggers Hawkish Shift on Rate Cuts

    Apr 10, 2024 | 23:28 pm

    US CPI data released yesterday showed the annualized rate rising higher than expected to 3.5%.

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  • US Inflation Higher Than Expected, Accelerates to 3.5%

    Apr 10, 2024 | 09:37 am

    US inflation for March rose 3.5% year-on-year. This was higher than expected and the US dollar is higher following the inflation release.

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  • Forex Today: US CPI Expected to Show Slower Monthly Increase

    Apr 9, 2024 | 23:43 pm

    US CPI data will be released today, with the market expecting a slower pace of monthly increase.

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  • Forex Today: Gold Makes New Record at $2,354

    Apr 7, 2024 | 23:24 pm

    Metals Rise Strongly to New Highs; USD/JPY Likely to Retest 34-Year High at ¥152; Crude Oil, Gasoline Futures Pull Back From Highs

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  • Forex Today: Gold Beats $2,300

    Apr 4, 2024 | 00:08 am

    Spot Gold has continued to rise to new all-time high prices.

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  • Forex Today: Gold Makes New Record at $2,288

    Apr 2, 2024 | 22:27 pm

    Precious Metals Rise Firmly to New Highs; Fed’s Daly Expects 3 Rate Cuts in 2024; USD/JPY Remains Close to 34-Year High Near ¥152; Crude Oil Breaks Higher; Eyes on Cocoa Futures After Spectacular Gains

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  • German Inflation Eases to 3-Year Low

    Apr 2, 2024 | 07:54 am

    Germany’s CPI climbed 2.2% year-on-year in March, down from 2.7% in February and matching expectations. This is the lowest inflation rate since May 2021.

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  • Forex Today: Yen Nears Record Low, Markets Await Possible BoJ Intervention

    Apr 1, 2024 | 23:20 pm

    USD/JPY Advances Close to 34-Year High Near ¥152; US Dollar Stronger on Firm US Manufacturing Data; Crude Oil Breaks Higher; Eyes on Cocoa Futures After Spectacular Gains

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  • Forex Today: Gold Hits $2265 Per Ounce

    Mar 31, 2024 | 23:13 pm

    Gold Reaches Record High in Asian Session; USD/JPY Remains Below Record High Near ¥152; Strong Chinese Manufacturing Data; Eyes on Cocoa Futures After Spectacular Gains

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  • United States GDP Expanded in Fourth Quarter by 3.4%

    Mar 28, 2024 | 07:44 am

    US GDP rises 3.4%, Canada GDP rebounds; US dollar steady, while stock markets show little movement following the announcement.

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  • Forex Today: Fed’s Waller: No Rush to Cut Rates, Prospect of Hikes Remote

    Mar 28, 2024 | 01:25 am

    US Fed’s Waller Reiterates Ongoing Fed Message of Slow Path to Rate Cuts; USD/JPY Remains Below Record High Near ¥152; Cocoa Futures Make Another Record High Close; Gold Also Makes Record High Closing Price

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  • Forex Today: Japanese Yen Hits 34-Year Low

    Mar 27, 2024 | 00:13 am

    USD/JPY Hits Record High Near ¥152, Japanese Officials Try to Talk Up Yen; Cocoa Futures Surpass $10,000 to Hit All-Time High; Aussie CPI Unchanged

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  • Forex Today: Cocoa Futures Break $9,000 for Record High

    Mar 26, 2024 | 00:38 am

    Cocoa Futures Gain 8% in a Day; US Stocks, Gold Remain Bullish; Japanese Officials Try to Talk Up Yen; Bitcoin Rises Above $70k Despite Record Crypto Fund Outflows

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  • United States Federal Reserve Holds Interest Rates, Remains Cautious

    Mar 21, 2024 | 04:26 am

    The Federal Reserve left interest rates unchanged for a fifth straight time at its meeting on March 20. The US dollar fell against the major currencies following the announcement.

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  • Forex Today: Fed Says 3 Rate Cuts in 2024, Stocks, Gold Boom

    Mar 21, 2024 | 00:07 am

    Fed Gives Dovish Surprise by Forecasting 3 Cuts in 2024; Markets Await BoE, SNB; Gold, Stock Markets Reach Record Highs; Japanese Yen Regains Ground; Bitcoin Pares Losses; UK CPI Falls

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  • Forex Today: Markets Await FOMC Meeting

    Mar 20, 2024 | 00:06 am

    FOMC Expected to Leave Rate at 5.50%; Japanese Yen Continues to Fall After BoJ; Bitcoin Weaker; Markets Await UK Inflation Data, New Zealand GDP

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  • Forex Today: Bank of Japan Ends Negative Interest Rates

    Mar 19, 2024 | 00:26 am

    BoJ Makes First Rate Hike Since 2007, Japanese Stocks Rally, Yen Weakens; RBA Leaves Rates at 4.35%; Cocoa Futures Slightly Lower After Record High Yesterday; Bitcoin Weaker; Markets Await Canadian Inflation Data

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  • Forex Today: Markets Expecting First BoJ Rate Hike in 17 Years

    Mar 18, 2024 | 00:19 am

    90% Expect BoJ to Ditch Negative Rates Policy Tuesday, Japanese Stocks Rallying; Bitcoin Rising After Another Record High Thursday; Cocoa Futures Roar Ahead With Dramatic Gains

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  • Forex Today: Markets Await US PPI

    Mar 14, 2024 | 00:24 am

    US PPI Expected at 0.2%; Bitcoin Makes Another Record High Above $73,000; Cocoa Futures Roar Ahead.

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  • Forex Today: US Inflation Ticks Higher to 3.2%

    Mar 12, 2024 | 23:29 pm

    US CPI Rises Unexpectedly; S&P 500 Makes Record High Close; Bitcoin Makes All-Time High Above $73,000

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  • US Inflation Rises Unexpectedly to 3.2%

    Mar 12, 2024 | 07:02 am

    The US consumer price index (CPI) climbed 3.2% year-on-year in February, up from 3.1% in January and above the market estimate of 3.1%.

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  • Forex Today: Markets Expecting Unchanged US Inflation Data

    Mar 12, 2024 | 01:03 am

    US CPI Seen at 3.1%; Bitcoin Hits New Record Below $73,000; Gold’s Bullish Momentum Starts to Pause

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  • Forex Today: Gold, Bitcoin Looking Bullish Near Friday’s Record Highs

    Mar 11, 2024 | 00:17 am

    Gold, Bitcoin Advancing Again; Yen Higher on Japanese Rate Hike Bets and GDP Growth

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  • ECB Maintains Interest Rates, Revises Lower Inflation Forecast

    Mar 7, 2024 | 14:06 pm

    The European Central Bank (ECB) maintained its deposit rate at a record high of 4.00% at today’s policy meeting. This decision was widely expected, and the Euro’s response has been muted.

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  • Forex Today: Gold Makes New Record High Above $2161

    Mar 6, 2024 | 23:41 pm

    Gold Powers to New All-Time High; Powell Says Inflation Progress Not Assured; Japanese Rate Hike Seen Likely as Wages Rise; Bank of Canada Holds Rates; Markets Await ECB Meeting

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