Forex News Live Today: The Ultimate Source for Forex News

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  The Latest Forex News Live Today:

  • Japanese Market Significantly Higher

    Mar 29, 2024 | 01:34 am

    The Japanese stock market saw a notable increase on Friday, recovering from some of the previous session's losses. This rise followed mixed signals from Wall Street overnight and occurred alongside mixed economic data from Japan. As a result, the benchmark Nikkei 225 index rose above 40,400, fueled by gains in most sectors, particularly among heavyweight indexes, exporters, and financial stocks.The Nikkei 225 Index advanced 265.73 points or 0.66 percent to 40,433.80 after an earlier high of 40,446.53. This uplift comes after Japanese stocks suffered significant losses on Thursday. Notable players such as SoftBank Group and Toyota saw marginal decreases, whilst Fast Retailing and Honda witnessed an increase of more than 1 percent and almost 2 percent respectively.Tech firms Advantest and Screen Holdings both experienced nearly 1 percent in gains. In addition, banking sector's Mitsubishi UFJ Financial and Mizuho Financial expanded more than 1 percent, while Sumitomo Mitsui Financial inched up 0.4 percent.Major exporters are seeing mixed results, with Mitsubishi Electric losing over 1 percent, while Canon, Sony, and Panasonic added roughly 1 percent.Other significant gainers included Mitsubishi Heavy Industries, Mitsui Fudosan, and Sumitomo Realty and Development, which all experienced almost 4 percent increases. Mitsubishi Estate, Kawasaki Heavy Industries, and Olympus were among companies that saw almost 3 percent advancements. Despite the overall gains, a few stocks neglected such upward trend.Turning to economic news, Japan's retail sales in February reported a 4.6 percent year-on-year increase, exceeding expectations of a 2.8 percent rise. However, Japan's industrial production in the same period demonstrated a seasonally adjusted monthly decrease of 0.1 percent. This downturn led the Ministry of Economy, Trade, and Industry (METI) to mark down its assessment of the sector, stating its performance remains indecisive and has weakened. Nevertheless, METI forecasts an increase of 4.9 percent in March and 3.3 percent in April.In addition, Japan's unemployment rate in February sat at a seasonally adjusted 2.6 percent, higher than anticipated. The jobs-to-applicants ratio was 1.26, below the estimated 1.27.The U.S dollar stood in the lower 151 yen-range on Friday. On Wall Street, stocks showed a lack of direction, resulting in a mixed closing with the Dow and the S&P 500 hitting new record closing highs.In European markets, there was a modest increase overall. The U.K's FTSE 100 Index ascended by 0.3 percent, while the German DAX Index and the French CAC 40 Index also saw slight rises.Finally, Crude oil futures for the month of May experienced a 2.2 percent increase to $83.17 a barrel owing to anticipation of falling supply levels due to OPEC production cuts and continued attacks on Russian oil facilities by Ukraine. For the week, WTI futures climbed 3.15 percent.The material has been provided by InstaForex Company - www.instaforex.com

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  • Vietnamese CPI Holds Steady at 3.97% Year-over-Year, Latest Data Shows

    Mar 29, 2024 | 00:00 am

    The latest data update on Vietnamese Consumer Price Index (CPI) reveals that the indicator has remained unchanged at 3.97% on a year-over-year basis. This figure is slightly lower compared to the previous recorded rate of 3.98%. The most recent data was published on 29 March 2024, indicating a stable inflation rate in Vietnam. The CPI is an essential economic indicator that reflects the average change in prices paid by consumers for goods and services, providing insights into the country's inflation trends.Despite global economic uncertainties and fluctuations, Vietnam's CPI has shown resilience, with a marginal decrease from the previous recorded rate. This stability can influence various economic sectors, including investment decisions, monetary policies, and consumer behavior. Keeping a close eye on CPI trends is crucial for policymakers, businesses, and consumers to make informed financial choices in the ever-evolving market landscape.The material has been provided by InstaForex Company - www.instaforex.com

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  • Vietnamese Foreign Direct Investment Soars to $78.6 Billion, Revealing Remarkable Growth

    Mar 29, 2024 | 00:00 am

    Vietnam is witnessing a remarkable surge in foreign direct investment (FDI) as the latest data reveals a substantial increase. The country's FDI has climbed to an impressive $78.6 billion, a significant leap from the previous figure of $2.8 billion reported back in February 2024. This exponential growth highlights Vietnam's attractiveness to foreign investors and its booming economy.The most recent update on Vietnamese FDI, released on 29th March 2024, underscores the nation's strong appeal for international businesses seeking investment opportunities. The substantial rise in FDI signals confidence in Vietnam's economic stability and potential for growth. With this surge in foreign investment, Vietnam is solidifying its position as a key player in the global economy and a favored destination for investors looking to capitalize on the country's expanding market and favorable business environment.The material has been provided by InstaForex Company - www.instaforex.com

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  • Vietnamese GDP Shows a Decline With 5.66% Growth in Latest Data

    Mar 29, 2024 | 00:00 am

    Vietnam's GDP growth has slowed down, with the latest data showing a growth rate of 5.66%. This marks a decline from the previous indicator, which had reached 6.72%. The data was updated on 29th March 2024, with the comparison being made year-over-year. The new figures indicate a slight dip in economic growth for Vietnam in the specified period.The decrease in GDP growth could have various implications for Vietnam's economy, potentially affecting sectors such as manufacturing, exports, and consumption. Analysts will be closely monitoring the situation to assess the impact of this slowdown and to identify any necessary measures to support economic stability and growth in the country. As global economic conditions continue to evolve, monitoring indicators like GDP growth becomes crucial for understanding the overall health of a nation's economy.The material has been provided by InstaForex Company - www.instaforex.com

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  • Vietnamese Retail Sales Show Strong Growth, Reaching 9.2% Year-over-Year

    Mar 29, 2024 | 00:00 am

    Vietnam's retail sector continues to demonstrate resilience and growth as the latest data reveals a significant increase in retail sales. The most recent indicator for Vietnamese retail sales reached 9.2% year-over-year, up from the previous figure of 8.5%. This positive trend in retail sales reflects a thriving consumer market in Vietnam despite global economic challenges.The data, last updated on 29 March 2024, indicates a steady upward trajectory in retail sales, showcasing the strength of the Vietnamese economy. The year-over-year comparison emphasizes the consistent growth in consumer spending, highlighting the confidence and purchasing power of Vietnamese consumers. As the retail sector in Vietnam continues to expand, it presents opportunities for businesses to capitalize on the growing market demand and further contribute to the country's economic development.The material has been provided by InstaForex Company - www.instaforex.com

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  • Vietnamese Industrial Production Sees Dip to 8.9% in Year-over-Year Comparison

    Mar 29, 2024 | 00:00 am

    Vietnam's industrial production has experienced a slowdown, with the latest data showing a significant drop to 8.9% in a year-over-year comparison. This marks a decrease from the previous indicator which stood at 27.1%. The new figures were updated on 29 March 2024, indicating a recent shift in the country's industrial output.The decline in industrial production could have various implications for Vietnam's economy, potentially impacting sectors such as manufacturing, construction, and mining. Analysts will be closely monitoring future data to assess the trajectory of the country's industrial sector and its overall economic stability.As Vietnam navigates these changes in industrial production, policymakers and businesses alike will need to adapt to ensure continued growth and resilience in the face of evolving economic conditions.The material has been provided by InstaForex Company - www.instaforex.com

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  • Vietnam's Trade Balance Surges to 2900M, Latest Data Shows

    Mar 29, 2024 | 00:00 am

    Vietnam's trade balance has recently experienced a significant surge, reaching 2900M, according to the latest data updated on 29 March 2024. This substantial increase from the previous indicator of 1100M indicates a notable growth in the country's trade performance. While the specific date when these changes occurred is not provided, the updated figures demonstrate a positive trend in Vietnam's trade landscape.The surge in Vietnam's trade balance suggests a potential uptick in export performance, contributing to the country's economic development. As global trade continues to play a vital role in shaping nations' economies, Vietnam's enhanced trade balance reflects increased market demand and export competitiveness. Keeping a close watch on these trade indicators can provide valuable insights into Vietnam's economic outlook and its position in the global market.The material has been provided by InstaForex Company - www.instaforex.com

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  • China Shares May Tick Higher Again On Friday

    Mar 28, 2024 | 23:34 pm

    The China stock market has demonstrated an upward trend in the past three trading days following a temporary dip. Presently, the Shanghai Composite Index is slightly above the 3,010 point plateau.Internationally, the outlook for Asian markets is diverse and relatively unchanged as investors anticipate key U.S. inflation data. European and U.S. markets were marginally up while Asian indices are anticipated to show a split response.On Thursday, the Shanghai Composite Index (SCI) grew modestly, propelled by gains in resource stocks. However, these were somewhat offset by the slump in financial shares along with property and energy sectors' fluctuating output.For the day, the index ascended by 17.52 points or 0.59 percent to finish at 3,010.66. Moreover, the Shenzhen Composite Index surged by 29.36 points or 1.72 percent to settle at 1,732.61.Notably, several leading companies experienced significant movement. The Industrial and Commercial Bank of China slumped 2.05 percent, with the Bank of China trailing at a 2.45 percent drop. On the other hand, China Life Insurance and Jiangxi Copper increased by 1.32 and 1.72 percent respectively.Wall Street remained ambiguous as major averages opened slightly higher. However, they vacillated throughout the day, finishing without major change.The Dow increased 47.29 points or 0.12 percent, to finish at 39,807.37, and the NASDAQ slightly declined 20.06 points or 0.12 percent to settle at 16,379.46. Meanwhile, the S&P 500 rose 5.86 points or 0.11 percent to finish at 5,254.35.Investors on Wall Street remained cautious, awaiting the release of a Commerce Department report on personal income and spending that includes crucial inflation readings favored by the Federal Reserve.Although the inflation data could influence interest rates' outlook, markets will need to wait until next Monday for investors' reaction due to the Easter holiday.On the economic front, the Labor Department noted that initial U.S. unemployment claims were marginally down last week. Meanwhile, the Commerce Department reported that the U.S. economy experienced more growth than previously anticipated in 2023's Q4. In the housing market, a February rebound was reported by the National Association of Realtors.OIl futures rallied on Thursday, driven by a likely drop in supply levels due to OPEC production cuts and continued attacks by Ukraine on Russian oil facilities. Concluding the week, West Texas Intermediate Crude oil futures for May soared 3.15 percent.The material has been provided by InstaForex Company - www.instaforex.com

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  • Little Movement Expected For Taiwan Stock Market

    Mar 28, 2024 | 23:04 pm

    The Taiwan stock market dipped once again on Thursday, falling just below the 20,150-point mark. This comes a day after the market broke a two-day losing streak where it dropped over 100 points, or 0.5 percent. Odds are that these numbers will stay consistent this Friday.Despite being slightly higher on European markets and fluctuating on U.S. bourses, the Asian markets are forecasted to maintain a balance ahead of the release of crucial U.S. inflation data.On Thursday, the Taiwan Stock Exchange (TSE) closed with slight losses due largely to the financial industries and plastic stocks underperforming, while the technology companies' performance was varied.Breaking it down: the TSE fell by 53.57 points or 0.27 percent, closing out at 20,146.55 after varying between 20,065.93 and 20,222.20. Companies such as Cathay Financial, Mega Financial, CTBC Financial, and First Financial all saw drops in their stock ranging from 0.10 percent to 0.72 percent.Even with the Federal Reserve's preferred readings on inflation set to release later on Friday, prospects for interest rates hang in the balance. Market reactions to these crucial economic indicators will have to wait until Monday due to the closure of markets for Good Friday.The Dow saw an increase of 47.29 points, or 0.12 percent, reaching 39,807.37, while NASDAQ dropped a modest 20.06 points at 16,379.46. The S&P 500 experienced a slight rise of 5.86 points, finishing at 5,254.35. The weekly figures for the holiday-shortened week showed that the Dow gained 0.8 percent, the S&P grew by 0.4 percent, and NASDAQ fell by 0.3 percent.The U.S. economy showed signs of resilience with the Labor Department announcing a marginal dip in first-time claims for unemployment benefits last week. According to the Commerce Department, there was also better-than-expected growth in the U.S. economy during the last quarter of 2023. On top of that, there was a rebound in pending home sales in February, according to the National Association of Realtors.Increased upward pressure on oil futures, boosted by depleting supply levels due to OPEC's production cuts and ongoing attacks by Ukraine on Russian oil facilities, led to a spike in West Texas Intermediate Crude oil futures for May. Closing at a solid $83.17 a barrel, WTI futures for the week were up by 3.15 percent.The material has been provided by InstaForex Company - www.instaforex.com

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  • Mild Upside Anticipated For Malaysia Shares

    Mar 28, 2024 | 22:34 pm

    Prior to the Nuzul Al-Quran holiday on Thursday, the Malaysian stock market experienced a downturn, breaking a two-day winning streak which had accumulated nearly 7 points or 0.5 percent. The Kuala Lumpur Composite Index currently stands just above the 1,530-point threshold and is projected to increase marginally on Friday.Globally, predictions for Asian markets are mixed and fairly flat as key U.S. inflation data is set to be released soon. The European market saw a slight growth, while in American trade market performance was varied and underwent minor shifts, which will possibly result in split movements among Asian markets.On Wednesday, the KCLI (Kuala Lumpur Composite Index) recorded a moderate decrease, driven mainly by losses from plantation and telecom sectors. Meanwhile, the financial sector's performance was varied. The index recorded a loss of 7.82 points or 0.51 percent, closing at 1,530.60, with traded values fluctuating between 1,528.52 and 1,536.58.Major fluctuating companies included AMMB Holdings, which saw an increase of 0.48 percent, Genting experiencing a drop of 1.26 percent, while CIMB Group witnessed a growth of 0.77 percent. Other active participants in the market, including IOI Corporation and MISC, noted decreasing values. Simultaneously, other companies like MRDIY noted an increase in share values.Indications from Wall Street were slightly uncertain. The averages for major industries opened slightly stronger but alternated between profit and loss during the day, closing mixed and largely unchanged.The Dow Jones increased 47.29 points or 0.12 percent to conclude at 39,807.37, while on the other hand, the NASDAQ decreased 20.06 points or 0.12 percent, closing at 16,379.46. Meanwhile, the S&P 500 increased marginally by 5.86 points or 0.11 percent, marking the end at 5,254.35.Anticipation surrounding the release of a Commerce Department report on personal income and spending, which includes inflation readings crucial to the Federal Reserve, left traders hesitant to make notable moves.Oil futures recorded an increase on Thursday due to the likely decrease in supply resulting from OPEC production cuts and ongoing attacks on Russian oil facilities by Ukraine. For the week, West Texas Intermediate Crude oil futures for May observed a 3.15 percent gain, concluding at $83.17 a barrel.The material has been provided by InstaForex Company - www.instaforex.com

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  • South Korea Shares May Remain Stuck In Neutral On Friday

    Mar 28, 2024 | 22:04 pm

    The South Korean stock market has experienced a decline in the recent two sessions, decreasing nearly 12 points or 0.4 percent. The KOSPI Index now sits just above the 2,745-point level, and could potentially remain stagnant on Friday.Market forecasts for Asia are currently in a state of flux, due in part to impending key U.S. inflation data. Europe's markets showed a slight increase, while the U.S. market showed minimal change. These mixed results are likely to result in Asian markets straddling the median.On Thursday, the KOSPI Index experienced a moderate decrease, driven by losses in the technology, energy, chemical, and automotive sectors. The financial sector, however, provided support. The Index dropped by 9.29 points or 0.34 percent to finish at 2,745.82 with trading boundaries between 2,742.68 and 2,756.86. Total volume was 412.5 million shares worth 11.7 trillion won. The market observed 561 decliners against 290 gainers.Major players experienced varied shifts. Shinhan Financial gained 0.43 percent, while KB Financial increased 1.88 percent. Samsung Electronics rallied 1.25 percent but Samsung SDI shed 0.62 percent. LG Electronics and SK Hynix saw declines of 0.21 percent and 1.66 percent respectively.On Wall Street, the Dow added 47.29 points or 0.12 percent to finish at 39,807.37, and the S&P 500 rose marginally by 5.86 points or 0.11 percent to end at 5,254.35. The NASDAQ, however, dipped slightly by 20.06 points or 0.12 percent to close at 16,379.46.Given the impending Commerce Department report on personal income and spending, traders remained cautious about making substantial investments. This report will be significant as it contains data on inflation, which is closely monitored by the Federal Reserve and could impact interest rates.In other economic news, the Labor Department reported a slight decrease in U.S. unemployment claims last week. They also revealed that the U.S. economy exceeded growth estimates in the fourth quarter of 2023. Additionally, the National Association of Realtors noted a recovery in pending home sales in February.Lastly, the oil market surged on Thursday due to expected decreased supply levels as a result of OPEC production cuts and ongoing attacks on Russian oil facilities by Ukraine. Similarly, West Texas Intermediate crude oil futures for May rose $1.82 or 2.2 percent to settle at $83.17 a barrel.The material has been provided by InstaForex Company - www.instaforex.com

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  • Japan's Industrial Production Shows Signs of Improvement in February 2024

    Mar 28, 2024 | 21:50 pm

    Japan's industrial production data for February 2024 has been released, showing a promising improvement compared to the previous month. The latest indicator stopped at -0.1%, a significant improvement from January's figure of -6.7%. This positive change indicates a potential turnaround in the country's industrial sector.The month-over-month comparison highlights the progress made in February, with significant growth from the previous month. These figures suggest that Japan's industrial production is beginning to recover from the challenges it faced earlier in the year. Economists and market analysts will be closely monitoring future data releases to assess the sustainability of this positive trend. The data was updated on 28 March 2024, providing up-to-date insights into Japan's economic performance.The material has been provided by InstaForex Company - www.instaforex.com

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  • Retail Sales in Japan Surge by 2.3% in February 2024

    Mar 28, 2024 | 21:50 pm

    In a positive turn of events for the Japanese economy, retail sales in the country surged by 2.3% in February 2024 compared to the same month a year ago. This significant increase follows a previous indicator that had stopped at 2.3% in January 2024. However, the latest data update on 28 March 2024 reveals an even more impressive growth as the current indicator has now reached 4.6%. This substantial rise in retail sales is a promising sign of consumer confidence and economic recovery in Japan. The Year-over-Year comparison underscores the steady progress in the retail sector, showcasing a notable improvement from the previous year's performance.The material has been provided by InstaForex Company - www.instaforex.com

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  • Japanese Industrial Production Sees Slight Increase to 4.9% in March 2024

    Mar 28, 2024 | 21:50 pm

    Japan's industrial production rose slightly in March 2024 from the previous month, according to the most recent data released on 28th March 2024. The indicator reached 4.9%, showing a modest increase from the 4.8% recorded in February 2024. This month-over-month comparison indicates a positive trend in Japan's industrial output, reflecting potential growth and stability in the country's manufacturing sector. The data provides insights into the current economic landscape and offers valuable information for investors and policymakers to make informed decisions moving forward. As Japan continues to navigate economic challenges, this uptick in industrial production signals resilience and potential opportunities for future growth.The material has been provided by InstaForex Company - www.instaforex.com

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  • Japan's Industrial Production Surges to 3.3% in April 2024

    Mar 28, 2024 | 21:50 pm

    Japan's industrial production has shown a remarkable surge, reaching 3.3% in April 2024, surpassing the previous indicator of 2% in March 2024. This data was updated on 28 March 2024, showcasing a positive trend in the country's manufacturing sector. The comparison period of month-over-month indicates a significant growth from the previous month, highlighting a strong momentum in Japan's industrial output.Investors and economists are closely monitoring these industrial production figures, as they provide insights into the overall health of the Japanese economy. The latest increase in industrial production signals potential growth in various industries, which could have a positive impact on the country's economic performance in the coming months. With this surge in industrial production, Japan is positioning itself for a promising economic outlook in the second quarter of 2024.The material has been provided by InstaForex Company - www.instaforex.com

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  • Japanese Retailers See Sales Increase of 1.5% in Latest Report

    Mar 28, 2024 | 21:50 pm

    In the latest report released on 28 March 2024, Japanese retailers witnessed a significant increase in sales with a growth rate of 1.5% in the month-over-month comparison period. This uptick marks a notable improvement from the previous indicator, which stood at 0.8%. The data indicates a positive trend in consumer spending and economic activity in Japan, suggesting a potential boost for the country's economy.The rise in sales could be indicative of increased consumer confidence, leading to higher retail sales across various sectors. As Japan continues its recovery from economic challenges, this latest report provides a hopeful outlook for the retail industry and the overall economy. Investors and analysts will be closely monitoring future reports to gauge the sustainability of this upward trend and its implications for the broader market. Stay tuned for more updates on Japan's economic performance.The material has been provided by InstaForex Company - www.instaforex.com

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  • Japan's Large Scale Retail Sales Surge by 5% Year-over-Year in February 2024

    Mar 28, 2024 | 21:50 pm

    In a promising sign for Japan's economy, the country's Large Scale Retail Sales experienced a significant increase of 5% Year-over-Year in February 2024. The latest data, updated on 28 March 2024, revealed that the current indicator has surged to 8%, marking a substantial improvement from the previous month's 3% growth in January 2024.Year-over-Year comparisons provide valuable insights into the growth trajectory of Japan's retail sector, indicating a noteworthy upturn in consumer spending and economic activity. The substantial increase in Large Scale Retail Sales bodes well for the country's economic recovery and suggests a positive outlook for the months ahead, as consumer confidence and spending continue to strengthen.With Japan's retail sector showing resilience and growth momentum, policymakers and economists are optimistic about the country's economic prospects, underscoring the importance of sustained consumer demand and retail activity in driving overall economic growth. The surge in Large Scale Retail Sales in February 2024 reflects a promising trend that could support Japan's ongoing economic recovery efforts.The material has been provided by InstaForex Company - www.instaforex.com

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  • Job Applications Decline Slightly in Japan in February 2024

    Mar 28, 2024 | 21:30 pm

    In Japan, the job/applications ratio slightly decreased from 1.27 in January 2024 to 1.26 in February 2024. This data, released on 28th March 2024, indicates a subtle shift in the job market for the country. The ratio measures the number of job openings per job seeker, reflecting the competitiveness and demand in the labor market.While the decrease is marginal, it could signify a small downturn in job opportunities compared to the previous month. Economists will be closely monitoring this trend to see if it persists in the coming months and its potential impact on the overall economy. As Japan navigates through its economic landscape, understanding these fluctuations is crucial for policymakers, businesses, and job seekers alike.The material has been provided by InstaForex Company - www.instaforex.com

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  • Tokyo Core CPI in March 2024 Slips to 2.4% Year-over-Year

    Mar 28, 2024 | 21:30 pm

    According to the latest data released on 28 March 2024, Tokyo's core consumer price index (CPI) for March 2024 has dipped slightly to 2.4% compared to the same month a year ago. This marks a decrease from the previous indicator of 2.5% in February 2024. The year-over-year comparison indicates a subtle shift in consumer price inflation in Japan's capital.The Tokyo Core CPI is a key indicator to gauge the price movements in Japan and is closely monitored by policymakers for its implications on the overall economic conditions. While the slight decline may raise some concerns, analysts suggest that it is important to consider broader economic factors to assess the impact on the country's economy. The data provides valuable insights into the ongoing inflation trends and will be crucial for future economic policy decisions. Investors and economists will be keen on further updates to assess the trajectory of inflation in Japan.The material has been provided by InstaForex Company - www.instaforex.com

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  • Japan's Unemployment Rate Increases to 2.6% in February 2024

    Mar 28, 2024 | 21:30 pm

    In February 2024, Japan experienced a slight increase in its unemployment rate, reaching 2.6%, up from the previous rate of 2.4% in January 2024. The latest data, updated on March 28, 2024, indicates a small but notable shift in the job market. While the rise in unemployment may raise concerns, it is important to monitor future trends to assess the overall impact on the country's economy. As Japan navigates through potential economic challenges, keeping a close eye on key indicators like the unemployment rate will be crucial in understanding the evolving financial landscape.The material has been provided by InstaForex Company - www.instaforex.com

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  • Tokyo CPI Remains Stable at 2.6% in March 2024

    Mar 28, 2024 | 21:30 pm

    The latest data on Tokyo's Consumer Price Index (CPI) for March 2024 has been released, indicating that the CPI remained stable at 2.6%. This figure is the same as the previous indicator reported in February 2024. The comparison period for this data is year-over-year, comparing the change in March 2024 to the same month a year ago.The Tokyo CPI is an important economic indicator that reflects the average change in prices paid by consumers for goods and services in the capital city of Japan. A stable CPI indicates that inflationary pressures are being managed effectively, which is crucial for the overall health of the economy. The data was last updated on 28 March 2024, providing investors and policymakers with valuable insights into the state of the Japanese economy.The material has been provided by InstaForex Company - www.instaforex.com

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  • CPI Tokyo Ex Food & Energy in March 2024 Slightly Declines to 2.3% in Japan

    Mar 28, 2024 | 21:30 pm

    In March 2024, the Consumer Price Index (CPI) for Tokyo excluding Food & Energy showed a slight decline in Japan. The indicator reached 2.3%, down from the previous figure of 2.5% in February 2024. This data, which was updated on 28 March 2024, represents a Year-over-Year comparison, meaning it compares the change in CPI for March 2024 to the same month a year ago. The reduction in the CPI suggests a moderate decrease in the overall price levels for goods and services, indicating a potential easing of inflationary pressures in the Japanese economy. As global financial markets continue to watch for signs of inflation and its impact on central bank policies, this shift in Japan's CPI may influence future monetary decisions by the Bank of Japan.The material has been provided by InstaForex Company - www.instaforex.com

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  • Tokyo CPI Excluding Food and Energy Sees Slight Decrease in March 2024

    Mar 28, 2024 | 21:30 pm

    In the latest economic news from Japan, the Consumer Price Index (CPI) for Tokyo, excluding food and energy prices, showed a slight decrease in March 2024. The indicator, which reflects changes in retail prices, registered a 0.2% decrease compared to the previous month. This comes after the February 2024 data had shown a 0.3% increase.The month-over-month comparison indicates a slight downturn in price levels in Tokyo. These figures are crucial for policymakers and economists to assess inflation trends and make informed decisions regarding the economy. The updated data, released on 28 March 2024, provides valuable insights into the current economic landscape in Japan, especially in one of its key urban centers.The material has been provided by InstaForex Company - www.instaforex.com

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  • USD/CAD could halt losing streak amid a stronger Greenback, clings to 1.3540

    Mar 28, 2024 | 21:05 pm

    Fuel suppliers in Baltimore are expected to encounter delays following the collapse of the Francis Scott Key Bridge.

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  • Japan Data On Tap For Friday

    Mar 28, 2024 | 21:04 pm

    Japan is preparing to announce a batch of data this Friday, making it a significant day for economic activity in the Asia-Pacific region. The information set to be announced includes February's statistics for unemployment, industrial production, retail sales, construction orders, and housing starts.Forecasts suggest no changes in the unemployment rate (2.4 percent) and the job-to-applicant ratio (1.27). On the other hand, it's predicted that industrial production will rebound, with a 1.2 percent increase after January's substantial 6.7 percent drop. Retail sales are also anticipated to see a slight rise to 2.8 percent on a yearly basis, compared to 2.3 percent increase observed in the prior month. In January, construction orders saw a 9.1 percent annual increase, while housing starts experienced a 7.5 percent decline.South Korea will reveal its February figures for industrial production and retail sales. Experts expect to see a 0.5 percent monthly increase and a 4.5 percent annual raise in industrial production, recovering from a 1.3 percent monthly drop and a 12.9 percent yearly surge in January.Thailand is also set to announce its February data for industrial production, current account, imports, exports, and trade balance. In January, industrial production fell by 2.94 percent. At the same time, the nation registered a current account deficit of $0.200 billion, an annual increase of 1.50 percent in imports, a 7.2 percent annual rise in exports, and a trade deficit stood at $1.10 billion.Lastly, the financial markets in Australia, Singapore, Hong Kong, Indonesia, and New Zealand will all be closed on the occasion of Good Friday.The material has been provided by InstaForex Company - www.instaforex.com

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  • South Korea's Retail Sales Plummet by 3.1% in February 2024

    Mar 28, 2024 | 21:00 pm

    South Korea experienced a significant decline in retail sales in February 2024, with the indicator dropping by 3.1% compared to the previous month. This downturn comes after a 1% increase in January 2024. The data was updated on 28 March 2024, revealing the stark contrast in consumer spending within a month-over-month comparison period. The unexpected decrease in retail sales points to potential economic challenges faced by South Korea, impacting various sectors of the economy. As analysts monitor the situation closely, strategies to stimulate consumer demand and boost retail activity may be considered to revive economic growth in the country.The material has been provided by InstaForex Company - www.instaforex.com

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  • S&P 500 (SPX) looking to complete five waves impulse [Video]

    Mar 28, 2024 | 20:47 pm

    Short term Elliott Wave view in S&P 500 (SPX) suggests cycle from 1.6.2024 low is in progress as a 5 waves impulse.

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  • Australian Dollar remains calm on light trading, US Dollar maintains a steady position

    Mar 28, 2024 | 20:28 pm

    The Australian Dollar (AUD) extends its losses for the second successive session on Friday.

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  • ForexLive Asia-Pacific FX news wrap: Ranges subdued by widespread holidays in Asia

    Mar 28, 2024 | 20:28 pm

    US inflation report coming up on Friday when markets will be closed - ranges to watchFederal Reserve Chair Powell speaks Friday, San Francisco Fed's Daly alsoChina Vanke says its objective is to cut interest bearing debt by 100bn yuan in next 2 yrsJapan's industry minister says to extend fuel subsidies for a "certain period"Japan finance minister Suzuki says speculative moves may be behind JPY weaknessPBOC sets USD/ CNY reference rate for today at 7.0950 (vs. estimate at 7.2259)USD/JPY update - lower (in a small range) after Suzuki's verbal interventionJapan finance minister Suzuki says rapid FX moves are undesirable, speculative moves seenBank of Japan Deputy Governor Uchida will appear in parliament from 10am Tokyo timeJapan February Retail Sales +4.6% y/y (vs. +3.0% expected)Japan data - February preliminary Industrial Production -0.1% m/m (expected +1.4%)Japan February unemployment rate 2.6% (expected 2.4%, prior 2.4% also)Tokyo area March inflation data: Headline 2.6% y/y (prior 2.6%)Analyst says the Bank of Japan is “very, very close” to intervening in JPYJP Morgan analyst warns on stock flash crash - " might come one day out of the blue"Japan's CEOs less upbeat on the economy, cautious ahead of wage hikes kicking inForexlive Americas FX news wrap 28 Mar: The quarter comes to an end.Stocks, yields. USD upICYMI: Japan PM Kishida says its appropriate for the BOJ to maintain easy monetary policyEconomic calendar in Asia for Good Friday, 28 March 2024 - big day for Japanese inflation!Asia time zone holidays today - who's in and who's out on Good Friday 2024Trade ideas thread - Thursday, 28 March 2024, insightful charts, technical analysis, ideas Core consumer price index (CPI) in Tokyo, used as an early indicator of nationwide figures due in around three weeks, rose 2.4% in March from a year earlier, matching a median market estimate and slowing slightly from a 2.5% gain in February. The other core measure, referred to as core-core that excludes fresh food and energy costs, and is interpreted as a broader price trend indicator, also slowed, coming in at 2.9% in March from 3.1% in February. Despite the slowing both are still well above the Bank of Japan 2% target rate. Separate data on Japanese factory output showed a fall vs the rise expected.If there is encouragement to be taken from today’s Japan data it was found in retail sales, these beat median forecasts and rose for a 24th consecutive month. Put above-target inflation together with better retail sales and the BOJ stays on a tightening course, though its expected to be slow.USD/JPY responded by inching just a little higher. It had barely added 10 or so tics in more than hour when Japan’s finance minister Suzuki weighed in with regular verbal intervention. The rhetoric from Suzuki and other officials has been taken up to a more forthright level. Suzuki today included mentions of:rapid FX moves speculative moves won't rule out any steps to respond to disorderly FXUSD/JPY backed off from its earlier high.In other major FX moves were also subdued. We are heading towards the next session with holidays in the UK and Europe. It’s a holiday today also in the US and Canada, although we have Powell speaking and inflation data released. This article was written by Eamonn Sheridan at www.forexlive.com.

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  • WTI advances to near $82.80 on likelihood of OPEC+ maintaining production cuts

    Mar 28, 2024 | 20:21 pm

    West Texas Intermediate (WTI) oil price settled higher at $82.82 per barrel on Thursday.

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  • Gold Price Forecast: XAU/USD flirts with record highs above $2,230, all eyes on US PCE data

    Mar 28, 2024 | 19:52 pm

    Gold price (XAU/USD) flirts with record highs around $2,230 during the Asian session on Friday.

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  • China Vanke says its objective is to cut interest bearing debt by 100bn yuan in next 2 yrs

    Mar 28, 2024 | 19:38 pm

    Vanke is (was) one of China's biggest real estate developers. Its been in troubles:China still can't shake off property market woesMoody's withdraws China property developer Vanke 'Baa3' rating (Baa3 is the lowest investment grade rating there is and that's gone.)China Vanke now says its objective is to cut interest-bearing debt by 100bn yuan in the next 2 yrsVanke's Chair says he maintains view that property market has over-corrected This article was written by Eamonn Sheridan at www.forexlive.com.

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  • Japan's industry minister says to extend fuel subsidies for a "certain period"

    Mar 28, 2024 | 19:18 pm

    Japanese Industry Minister Ken Saito spoke on Friday regarding the government plan to extend its fuel subsidies "for a certain period".Subsidies paid to energy wholesalers aimed at limiting the domestic prices of gasoline, kerosene and other fuels began in January 2022 and have been extended multiple times. This article was written by Eamonn Sheridan at www.forexlive.com.

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  • China’s SAFE: Will steadily promote financial market opening

    Mar 28, 2024 | 19:12 pm

    Speaking at the annual Boao Forum on Friday, Xu Zhibin, the deputy head of the State Administration of Foreign Exchange (SAFE), said that he “will steadily promote financial market opening.” Additional comments Will improve policies to facilitate cross-border investment.

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  • EUR/USD extends losses on dovish remarks from ECB members, trades near 1.0780

    Mar 28, 2024 | 19:11 pm

    EUR/USD continues its downward trend for the fourth consecutive day, driven by a stronger US Dollar (USD) influenced by the hawkish market sentiment surrounding the Federal Reserve (Fed) and expectations of prolonged higher interest rates.

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  • NZD/USD remains under selling pressure below 0.6000, US PCE data looms

    Mar 28, 2024 | 18:54 pm

    The NZD/USD pair remains under some selling pressure near 0.5970 after retracing from the 0.6000 barrier during the Asian session on Friday.

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  • Japan finance minister Suzuki says speculative moves may be behind JPY weakness

    Mar 28, 2024 | 18:41 pm

    Japan finance minister Suzuki says speculative moves may be behind JPY weakness amid falling interest rate differentials.Suzuki weighed on the yen also:Japan finance minister Suzuki says rapid FX moves are undesirable, speculative moves seenOn those shrinking interest rate differentials. Sheesh, not by much! The Bank of Japan barely lifted rates and the next move looks to be a long time away. And, in the US, for example, the Federal Reserve rate cut has been just around the corner for many months now. This article was written by Eamonn Sheridan at www.forexlive.com.

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  • PBoC sets USD/CNY reference rate at 7.0950 vs. 7.0948 previous

    Mar 28, 2024 | 18:20 pm

    On Friday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.0950 as compared to the previous day's fix of 7.0948 and 7.2259 Reuters estimates.

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  • USD/JPY update - lower (in a small range) after Suzuki's verbal intervention

    Mar 28, 2024 | 17:57 pm

    Keywords used by Suzuki included: rapid FX moves speculative moves won't rule out any steps to respond to disorderly FXThese are of a more stringent nature than the 'watching closely' sort of mumbling we usually get. These indicate we are moving closer to 'rate checks' and then actual intervention. USD/yen update (looks dramatic but check the scale): This article was written by Eamonn Sheridan at www.forexlive.com.

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  • Japan’s Suzuki: Rapid FX moves are undesirable, speculative moves seen

    Mar 28, 2024 | 17:55 pm

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

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  • USD/JPY holds positive ground around 151.50 following Japanese CPI data

    Mar 28, 2024 | 17:47 pm

    The USD/JPY pair holds positive ground for the second consecutive day near 151.45 on Friday during the early Asian trading hours.

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  • Japan Large Retailer Sales climbed from previous 3% to 8% in February

    Mar 28, 2024 | 16:57 pm

    Japan Large Retailer Sales climbed from previous 3% to 8% in February

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  • Japan Retail Trade s.a (MoM) up to 1.5% in February from previous 0.8%

    Mar 28, 2024 | 16:53 pm

    Japan Retail Trade s.a (MoM) up to 1.5% in February from previous 0.8%

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  • Japan Industrial Production (YoY) declined to -3.4% in February from previous -1.5%

    Mar 28, 2024 | 16:52 pm

    Japan Industrial Production (YoY) declined to -3.4% in February from previous -1.5%

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  • Japan data - February preliminary Industrial Production -0.1% m/m (expected +1.4%)

    Mar 28, 2024 | 16:50 pm

    Japan data - February preliminary Industrial ProductionFebruary preliminary Industrial Production is a disappointment at -0.1% m/mexpected +1.4%, prior -6.7%For the y/y -3.4%expected -2.7%, prior -1.5%Forecasts:March output is seen at +4.9% m/mApril output is seen at +3.3% m/m--A government official says factory suspension in motor vehicle production affected the decrease in overall industrial output during February. This article was written by Eamonn Sheridan at www.forexlive.com.

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  • Japan February Retail Sales +4.6% y/y (vs. +3.0% expected)

    Mar 28, 2024 | 16:50 pm

    Retail sales data for Japan in February 2024 Retail Sales +4.6% y/y for a solid beat and a 24th consecutive rise+3.0% expected, prior was +2.1% This article was written by Eamonn Sheridan at www.forexlive.com.

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  • Japan Industrial Production (MoM) below forecasts (1.4%) in February: Actual (-0.1%)

    Mar 28, 2024 | 16:50 pm

    Japan Industrial Production (MoM) below forecasts (1.4%) in February: Actual (-0.1%)

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  • Japan Retail Trade (YoY) registered at 4.6% above expectations (3%) in February

    Mar 28, 2024 | 16:50 pm

    Japan Retail Trade (YoY) registered at 4.6% above expectations (3%) in February

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  • Japan’s Kishida: Appropriate for BOJ to maintain easy monetary policy

    Mar 28, 2024 | 16:47 pm

    Japan's Prime Minister Fumio Kishida spoke at a press conference on Thursday in Tokyo.

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  • Japan Inflation: Tokyo Consumer Price Index climbs 2.6% YoY in March vs. 2.6% prior

    Mar 28, 2024 | 16:38 pm

    The headline Tokyo Consumer Price Index (CPI) for March rose 2.6% YoY following a 2.6% rise in the previous reading, the Statistics Bureau of Japan showed on Friday.

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  • Japan February unemployment rate 2.6% (expected 2.4%, prior 2.4% also)

    Mar 28, 2024 | 16:34 pm

    While these numbers for February as not as good as those in January they are a long way from being of concern. Japanese firms have mentioned the difficulty in finding labour, so perhaps they'll find something positive to take away from this data.Japan's CEOs less upbeat on the economy, cautious ahead of wage hikes kicking inThe bigger focus was on the inflation data:Tokyo area March inflation data: Headline 2.6% y/y (prior 2.6%) This article was written by Eamonn Sheridan at www.forexlive.com.

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  • Japan Tokyo CPI ex Food, Energy (YoY) down to 2.9% in March from previous 3.1%

    Mar 28, 2024 | 16:31 pm

    Japan Tokyo CPI ex Food, Energy (YoY) down to 2.9% in March from previous 3.1%

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  • Tokyo area March inflation data: Headline 2.6% y/y (prior 2.6%)

    Mar 28, 2024 | 16:30 pm

    The overall CPI was the same as in February while both core measures fell a touch.There is nothing in this data to suggest a quickening of the expected pace of Bank of Japan rate hikes - i.e. very slow:Bank of Japan Summary - rate hikes ahead will be slow to comeThe "Excluding Fresh Food and Energy" is the closest measure to the US measure of core inflation, and while it dipped under 3% in March that 2.9% number is still strong and above the BOJ 2% target.****Tokyo area inflation data:National-level CPI data for this month will follow in about three weeks, it takes longer to gather and collate the national data.Tokyo CPI is a sub-index of the national CPIIt measures the change in prices of goods and services in the Tokyo metropolitan areaIts considered a leading indicator of national CPI trends because Tokyo is the largest city in Japan and is a major economic hubHistorically, Tokyo CPI data has been just slightly higher than national Japan CPI data. The cost of living in Tokyo is a touch higher than in most other parts of Japan. Higher rents, for example This article was written by Eamonn Sheridan at www.forexlive.com.

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  • Japan Tokyo Consumer Price Index (YoY) remains unchanged at 2.6% in March

    Mar 28, 2024 | 16:30 pm

    Japan Tokyo Consumer Price Index (YoY) remains unchanged at 2.6% in March

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  • Japan Tokyo CPI ex Fresh Food (YoY) in line with forecasts (2.4%) in March

    Mar 28, 2024 | 16:30 pm

    Japan Tokyo CPI ex Fresh Food (YoY) in line with forecasts (2.4%) in March

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  • Japan Jobs / Applicants Ratio came in at 1.26 below forecasts (1.27) in February

    Mar 28, 2024 | 16:30 pm

    Japan Jobs / Applicants Ratio came in at 1.26 below forecasts (1.27) in February

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  • Japan Unemployment Rate registered at 2.6% above expectations (2.4%) in February

    Mar 28, 2024 | 16:30 pm

    Japan Unemployment Rate registered at 2.6% above expectations (2.4%) in February

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  • GBP/USD trades sideways above 1.2600 amid quiet session

    Mar 28, 2024 | 16:13 pm

    The GBP/USD pair trades sideways around 1.2622 during the early Asian session on Friday.

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  • South Korea Industrial Output Growth came in at 3.1%, above forecasts (0.5%) in February

    Mar 28, 2024 | 16:00 pm

    South Korea Industrial Output Growth came in at 3.1%, above forecasts (0.5%) in February

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  • South Korea Service Sector Output rose from previous 0.1% to 0.7% in February

    Mar 28, 2024 | 16:00 pm

    South Korea Service Sector Output rose from previous 0.1% to 0.7% in February

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  • South Korea Industrial Output (YoY) came in at 4.8% below forecasts (5.8%) in February

    Mar 28, 2024 | 16:00 pm

    South Korea Industrial Output (YoY) came in at 4.8% below forecasts (5.8%) in February

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  • JP Morgan analyst warns on stock flash crash - " might come one day out of the blue"

    Mar 28, 2024 | 15:22 pm

    A JP Morgan analyst was out with a somewhat generic warning in the middle of the week. Warning that excessive crowding in the market’s best-performing stocks raises the risk of an imminent correction: “It just might come one day out of the blue. This has happened in the past, we’ve had flash crashes” He described the process:“One big fund starts de-levering some positions, a second fund hears that and tries to re-position, the third fund basically gets caught off guard, and the next thing you know, we start having a bigger and bigger momentum unwind.”Says much of the positive news is discounted already:“A lot of goodies have gotten priced in” sees few sources of upside surprise beyond Nvidia and the prospects for AI innovation. “That source of upside surprise is becoming more and more limited, and on the flipside, you do have more risks that are hovering in the background,” ---The challenge is the timing. Only Thursday was this:S&P and Dow close at record levelsFOMO is ruling right now. This article was written by Eamonn Sheridan at www.forexlive.com.

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  • Gold price finishes Thursday’s session set to reach new all-time highs

    Mar 28, 2024 | 15:12 pm

    Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session.

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  • GBP/JPY Price Analysis: Consolidates around 191.00 amid thin liquidity conditions

    Mar 28, 2024 | 15:04 pm

    The GBP/JPY barely moved on Thursday amid thin liquidity conditions and is hovering around 191.00, virtually unchanged as Friday’s Asian session begins.

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  • Japan's CEOs less upbeat on the economy, cautious ahead of wage hikes kicking in

    Mar 28, 2024 | 14:54 pm

    Optimism amongst Japan's corporate heads is dissipating according to a regular survey by Nikkei:50% of respondents say the economy is "expanding" or "expanding slightly", down sharply from the previous quarter's survey where 72% were upbeat50% is the lowest reading since March 2022 poll (which hit only 13.1% optimistic)45% said the economy will remain flat (from 20% in the previous poll)Reasons for the dour swing included:80.3% blamed flat consumer spendingstagnation in China was cited by 40.9%37.9% cited persistent labor shortages--Nikkei's survey is conducted quarterlyYesterday the Summary of the March BIOJ meeting indicated a slow rate cycle ahead. This survey points that way also. Bank of Japan Summary - rate hikes ahead will be slow to come This article was written by Eamonn Sheridan at www.forexlive.com.

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  • NZD/JPY Price Analysis: Bears maintain control, pushes cross below the 100-day SMA

    Mar 28, 2024 | 14:30 pm

    In Thursday's session, the NZD/JPY declined to 90.40, with a decline of 0.43%.

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  • Forexlive Americas FX news wrap 28 Mar: The quarter comes to an end.Stocks, yields. USD up

    Mar 28, 2024 | 14:19 pm

    S&P and Dow close at record levelsCrude oil futures settle at $83.17More from Villeroy: We need to take out insurance against a hard landing by starting cutECBs Villeroy says or inflation declined is rapid but it remains to highBofA: Maintains above-consensus year-end EUR/USD target at 1.15; here's why?European indices close the day with mixed results. Solid gains for the quarter.Sam Bankman-Fried sentenced to 25 years in prisonKC Fed March manufacturing index -9 vs +3 priorGold is on track for the first ever close above $2200US February pending home sales +1.6% vs +1.5% expectedUS March UMich final consumer sentiment 79.4 vs 76.5 expectedKickstart the FX day for March 28 with a technical look at the EURUSD, USDJPY and GBPUSDCanadian dollar climbs after stronger January and February GDPUS initial jobless claims 210K vs 212K estimateUS Q4 GDP final reading +3.4% vs +3.2% expectedCanada January GDP +0.6% vs +0.4% expectedThe USD is the strongest and the NZD is the weakest as the NA session beginsJapan PM Kishida: We are still half way in completely emerging from deflationForexLive European FX news wrap: Dollar nudges higher, gold on the moveAs traders (and central bankers too) look toward the long Easter weekend, starting with Good Friday tomorrow and Easter Monday in some countries on Monday, the markets closed the quarter with gains in stocks, gains in oil, yields higher, Bitcoin (and crypto) higher and the USD higher as well. A snapshot of the Q1 numbers show:Stocks:S&P index, +10.16% (made new record highs)NASDAQ Index +9.11% (made new record highs)German DAX, +10.39% (made new record highs)France CAC was 8.78% (made new record highs)UK FTSE 100 +2.84% (still short of the record reached OnFebruary 16, 2023Japan Nikkei 225, +20.3% (made new record highs)Interest rates:US 2-year yield, 4.628% +37.8 basis pointsUS 10 year yield, 4.206%, +34 Basis pointsGerman 10 year yield 2.305%, +27.4 basis pointsFrance 10 year yield 2.81%,+25.5 basis pointsUK 10 year yield 3.946%, +40.7 basis pointsJapan 10 year yield 0.705%, +8.0 basis points (at least they "discontinued" yield curve control even though they are still buying bonds)For the central banks, in the quarter, the:Bank of Japan raised rates for the first time in 17 years to 0.0% to 0.10%. It's a start. Swiss National Bank cut rates unexpectedly by 25 basis points and became the first of the major countries to cut their rates.Federal Reserve kept the dot plot steady at 3 cuts in 2024, but subsequently some Fed officials including Bostic and Waller seem to be in favor of dialing that number down for 2024. A summer cut is still on the table. The ECB is on pace for a June cutThe Bank of England kept rates steady and lost the dissenters wanting a hikeBank of Canada kept rates steady as did the RBA and the RBNZ. Looking at the USD, it will trade tomorrow but for the quarter, the DXY, +3.162%The USD gained vs all the major currencies with the largest gain vs the JPY (despite the hike in rates in JPY) and the CHF (the CHF was lower after the rate cut by the SNB):EUR, +2.28%JPY, + 7.36%GBP, +0.80%CHF +7.14%CAD, +2.23%AUD, +4.31%NZD, +5.42%In other markets for the quarter:Crude oil rose 16.08% or $11.52 to $83.17Gold rose 8.21% or $169.42 to $2232.10Silver rose By 4.88% or $1.16Bitcoin rose from $42,258 to $70,858 or by $28,600 or 67.67%Tomorrow although most major countries are on holiday, the US core PCE data will be released at 8:30 AM ET. The foreign-exchange market never sleeps, but the major US stock indices and bond markets will be closed.Wishing everyone - including Chair Powell - a Happy Easter and thank you for your support. This article was written by Greg Michalowski at www.forexlive.com.

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  • S&P and Dow close at record levels

    Mar 28, 2024 | 13:17 pm

    The S&P and Dow Industrial Average closed at record high levels. For the S&P was the 22nd record close in 2024. The Dow Industrial Average is less than 200 points from Dow 40K. The NASDAQ index was not so fortunate as it closed down on the day. For the quarter the S&P led the way with a gain of over 10%.The final numbers are showing:Dow industrial average rose 47.29 points or 0.12% at 39807.38S&P index rose 5.86 points or 0.11% at 5254.34. The high price of 5264.85 is the new intraday high price.NASDAQ index fell -20.07 points or -0.12% at 16379.45.The Russell 2000 of small-cap stocks rose 10.19 points or 0.48% at 2124.54.For the first quarter, the gains were the largest to start the year since 2019.Dow industrial average rose 5.62%S&P index rose 10.16%NASDAQ index rose 9.11%Russell 2000 rose 4.808%What did some of the favored stocks do in the quarter (PS it wasn't all the Magnificent 7):Amazon, +18.63%Nvidia, +82.29%Super Micro Computer, +255.11%Celsius +51.87%Grayscale Bitcoin Trust ETF, + 82.47%Meta Platforms +37.28%Apple -10.95%Alphabet +7.95%Microsoft +11.8%Micron +38.14%AMD +22.44%Caterpillar +23.93%Tesla -29.25%Broadcom, +18.74%Nike -13.44%Netflix +24.74%Costco 10.99%Home Depot +10.69%Disney +35.5%Boeing -26.05%Shake Shack +40.35%The US stock market will be closed tomorrow in observance of Good Friday. However, This article was written by Greg Michalowski at www.forexlive.com.

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  • Economic calendar in Asia for Good Friday, 28 March 2024 - big day for Japanese inflation!

    Mar 28, 2024 | 13:08 pm

    Japanese (Tokyo) CPI, and jobs, data is due at 2330 GMT, which is 1930 US Eastern time.The other data follows at 2350 / 1950.Japanese and mainland China markets are open today.Asia time zone holidays today - who's in and who's out on Good Friday 2024****For the headline Tokyo CPI the expected I've seen is 2.5%, slightly down from 2.6% but still above the Bank of Japan target level of 2%. Last week the Bank of Japan raised rates for the first time in 17 years. The decision was a drawn-out one. I linked to a piece from Reuters which looked at the process, and which implicitly raises the question of much independence the BOJ really has (a question plenty of people have raised before):"How the BOJ's plan for a smooth exit from negative rates unraveled"Yesterday we had the 'Summary' of that meeting published. In a nutshell the summary of the Summary is that it'll be a very slow rate hike cycle going forward, which will keep yen under pressure as a carry currency.BOJ 'Summary' of the historic March 2024 meetingAs for today, I doubt the Tokyo area inflation data will be a smoking gun for a near term rate rise, but it'll be an interesting data point regardless. National-level CPI data for this month will follow in about three weeks, it takes longer to gather and collate the national data.Tokyo CPI is a sub-index of the national CPIIt measures the change in prices of goods and services in the Tokyo metropolitan areaIts considered a leading indicator of national CPI trends because Tokyo is the largest city in Japan and is a major economic hubHistorically, Tokyo CPI data has been just slightly higher than national Japan CPI data. The cost of living in Tokyo is a touch higher than in most other parts of Japan. Higher rents, for exampleThis snapshot 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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  • Asia time zone holidays today - who's in and who's out on Good Friday 2024

    Mar 28, 2024 | 13:00 pm

    The good news is that Japan and mainland China are open on Friday, 29 March 2024.New Zealand, Australia, Hong Kong, Singapore are closed.The UK and Europe will be closed.US markets will be closed on Friday also, stock exchanges, futures and physical bond trading. US bond trading hours are set by the Securities Industry and Financial Markets Association (SIFMA). SIFMA is recommending the US Bond market to be closed that day. So it is.Do note that Friday will bring comments from Federal Reserve Chair Powell. He will be speaking at a San Fransico Federal Reserve branch event:at 8.30 am PDT, which is 11.30 am US Eastern timeAnd, of course, major data is due to be released (1230 GMT, 0830 US Eastern time) the Fed's preferred inflation measure, PCE: This article was written by Eamonn Sheridan at www.forexlive.com.

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  • Trade ideas thread - Thursday, 28 March 2024, insightful charts, technical analysis, ideas

    Mar 28, 2024 | 12:59 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: Note Japanese and mainland China markets are open today, FWIW. This article was written by Eamonn Sheridan at www.forexlive.com.

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  • BofA: Maintains above-consensus year-end EUR/USD target at 1.15; here's why?

    Mar 28, 2024 | 10:33 am

    Synopsis: Bank of America reaffirmed its bullish stance on EUR/USD, projecting the pair to reach 1.15 by the end of 2024, in contrast to the more conservative consensus forecast of 1.10 for this year and 1.14 by 2025. BofA's optimism stems from expectations of a weaker dollar driven by moderating inflation and anticipated Federal Reserve rate cuts, enabling a shift towards equilibrium in USD value.Key Points:Bullish on EUR/USD: BofA stands firm on its year-end target for EUR/USD at 1.15, anticipating most of the currency pair's appreciation to occur in the second half of the year. This outlook positions BofA above the current market consensus.Consensus Comparison: The market consensus pegs EUR/USD at 1.10 for 2024, and 1.14 by 2025. BofA's forecast extends further, envisioning EUR/USD at at 1.15 by end of 2024 and 1.20 in 2025.Unchanged Core USD Forecasts: BofA's broader forecasts for the USD against G10 currencies remain steady. The bank anticipates broad USD depreciation in 2024, fueled by declining inflation rates and anticipated monetary easing by the Fed.EUR-CHF Adjustment: The only recent adjustment in BofA's currency forecasts was an uplift in EUR-CHF projections following the Swiss National Bank's unexpected decision to lower interest rates.Conclusion: BofA's steadfast prediction for EUR/USD to appreciate significantly by the end of 2024 reflects a bullish divergence from the market consensus. The bank's expectations hinge on a broader theme of USD depreciation against G10 currencies, driven by moderating inflation and prospective rate cuts by the Federal Reserve. This outlook suggests a return towards a more balanced USD valuation as the year progresses, particularly in the latter half.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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  • European indices close the day with mixed results. Solid gains for the quarter.

    Mar 28, 2024 | 10:06 am

    The major European indices are closing the day with mixed results. The German DAX and France CAC closed at all-time high record levelsGerman DAX rose 27.40 points or 0.15% at 18504.50. Record high closeFrance CAC rose 1.01 points or 0.01% at 8205.81. Record high closeUK FTSE 100 rose 20.64 points or 0.26% at 7952.63. Highest closing level since February 2023Spain's Ibex is closing down -36.70 points or -0.33% at 11074.59. The index closed at its highest level since May 2017 yesterday.Italy's FTSE MIB is closing down minus 9.34.0 or -0.03% at 34750.35For the first quarter, the major indices are closing higher led by Italy's FTSE MIB which rose over 14.0%:German DAX, +10.46%France CAC +8.78%UK FTSE 100 +2.84%Spain's Ibex +9.63%Italy's FTSE MIB, +14.49% This article was written by Greg Michalowski at www.forexlive.com.

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  • KC Fed March manufacturing index -9 vs +3 prior

    Mar 28, 2024 | 08:04 am

    Prior was +3Composite -7 vs -4 prior This article was written by Adam Button at www.forexlive.com.

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  • United States GDP Expanded in Fourth Quarter by 3.4% - 28 March 2024

    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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  • US March UMich final consumer sentiment 79.4 vs 76.5 expected

    Mar 28, 2024 | 07:00 am

    Highest since July 2021March prelim was 76.5Final February was 76.9Current conditions 82.5 vs 79.4 prelimExpectations 77.4 vs 74.6 prelimOne -year inflation 2.9% vs 3.0% prelim -- matches lowest since Dec 2020Five-year inflation 2.8% vs 2.9% prelimThis is a goldilocks report and underscores the strength in the US economy and moderating inflation. That said, I don't put any stock in this report, which is more of a political gauge than an economic one. This article was written by Adam Button at www.forexlive.com.

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  • US February pending home sales +1.6% vs +1.5% expected

    Mar 28, 2024 | 07:00 am

    Prior was -4.9%Index vs 74.3 prior revised 274.4Pending home sales for February 2024 rise 1.6% versus 1.5% expectedIndex for February 75.6Sales are down 7% from a year agoLooking at the regional breakdowns:The Northeast Pending Home Sales Index (PHSI) decreased by 0.3% from the previous month to 63.4, marking a 9.0% decline from February 2023.In the Midwest, the PHSI surged by 10.6% to 81.6 in February, a decrease of 2.5% compared to one year ago.The South PHSI experienced a 1.1% increase to 89.5 in February, but fell 8.5% from the previous year.The West index dropped by 6.5% in February to 57.1, reflecting a 7.9% decrease from February 2023.Pending home sales are off of signed contracts.Active listings are up 6% according to Redfin.From the National Associations of Realtors Lawrence Yun:"The high-cost regions in the Northeast and West experienced pullbacks due to affordability challenges, Home prices rising faster than income growth is not healthy and adds challenges for first-time buyers. There will be a steady rise in inventory from recent growth in home building. Additionally, many sellers, who delayed listing in the past two years, will begin to put their homes on the market to move to a different home that better fits their new life circumstances – such as changes in family composition, jobs, commuting patterns and retirees wanting to be closer to their grandkids." This article was written by Adam Button at www.forexlive.com.

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  • US stocks mixed in early trading

    Mar 28, 2024 | 06:38 am

    The major US stock indices are trading mixed at the US open. The flow of funds is more into the Dow with the S&P near unchanged and the Nasdaq down marginally. The small-cap Russell 2000 index is also higher. Recall from yesterday, the S&P index closed at a record high, but fell short of its intraday high at 5261.10. That is the next target on further upside today.A snapshot of the market seven minutes into the open is showing:Dow industrial average up 22 points or 0.06% at 39781S&P index -1.6 points or -0.02% at 5247NASDAQ index -30 points or -0.18% at 16370.57The small-cap Russell 2000 is currently up 6.56 points or 0.31% at 2120.91.US yields are moving higher:2-year yield 4.617% +4.8 basis points5-year yield 4.226%, +3.8 basis points10-year yield 4.222%, +2.6 basis points30-year yield 4.369% +1.0 basis points.Looking at other markets:Crude oil is trading up $1.23 or 1.52% at $82.59.Gold is trading up $13 or 0.59% at 2207.43Bitcoin is trading higher at $70,883 This article was written by Greg Michalowski at www.forexlive.com.

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  • US equities open flat, energy threatens a breakout

    Mar 28, 2024 | 06:33 am

    US stock markets surged into the close yesterday but the momentum has faded.The S&P 500 opened flat and the Nasdaq down 0.2%. There is some divergence with energy strong and the XLE threatening to break a major top. This article was written by Adam Button at www.forexlive.com.

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  • Canadian dollar climbs after stronger January and February GDP

    Mar 28, 2024 | 06:08 am

    USD/CAD fell about 20 pips on a strengthening Canadian dollar following upbeat numbers on January and February GDP.Canada's economy grew 0.6% in January 2024 in the best monthly gain in a year. That follows a series of flat-or-negative numbers stretching over the prior six months. Unfortunately, the number isn't quite as strong as it seems. It was boosted by a big contribution from educational services after a teachers' strike in Quebec ended.However the good news didn't end there as the preliminary February GDP reading was +0.4% in a broad based gain that shows the Canadian economy still has some strength, even if it's largely driven by population growth.USD/CAD was at 1.3592 before the data and fell to 1.3572 afterwards.The fall today looks like another rejection of the 1.3600 level. The pair has touched that level on 10 separate days since February 27, failing to close above it every single time.The Canadian dollar is being helped along by oil prices, which are up $1.26 today to $82.60 and have risen $5 since mid-February.If that level breaks, it could create a run on stops but that won't happen if Canadian economic data keeps beating estimates and the housing market holds up. My latest checks show decent on-the-ground housing demand in what's a critical moment for the struggling sector. This article was written by Adam Button at www.forexlive.com.

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  • US initial jobless claims 210K vs 212K estimate

    Mar 28, 2024 | 05:30 am

    Prior week revised to 212K revised from 210KInitial jobless claims at 210K vs 212K estimate4-week moving average 211K vs 211.75K last weekContinuing claims 1.819MPrevious week revised -12 K to 1.795M from 1.807M previously reported4-week moving average 1.803M versus previous week 1.799M (revised from 1.802M)The largest increases in initial claims for the week ending March 16 were in Missouri (+1,443), Michigan (+1,204), Tennessee (+538), Mississippi (+353), and Arkansas (+279), The largest decreases were in California (-5,794), Oregon (-1,651), Texas (-856), Pennsylvania (-740), and Illinois (-626).The data is still indicative of a solid employment market. This article was written by Greg Michalowski at www.forexlive.com.

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  • Forex Today: Fed’s Waller: No Rush to Cut Rates, Prospect of Hikes Remote - 28 March 2024

    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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  • Aussie dollar continues to hold above US$0.65

    Mar 27, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar is relatively unchanged again this morning when valued against the Greenback, currently trading at US$0.6533 at the time of writing. On the local data front yesterday, inflation has held steady for the second month in a row, as cheaper meat and seafood helped offset increases in rents and automotive fuel. The monthly index of consumer prices rose only 3.4% in the year to February, stabilising near the pace of the increases in January and December, the Australian Bureau of Statistics said on Wednesday. Economists had predicted February’s CPI would come in at 3.5%. Excluding volatile items such as fresh produce and fuel, inflation fell from 4.1% in January to 3.9% last month. Holiday and accommodation prices continued to fall, offsetting price rises in other categories. The category’s prices fell 1.3% in the year to February, falling more slowly than the two previous months, reflecting boosts from Taylor Swift’s blockbuster Eras tour. The AUD has faced downward pressure following the release of Westpac's Consumer Confidence Index on Tuesday, which dipped 1.8% to 84.4 in March 2024 from February's 86.0, easing from 20-month highs. Key Movers The US dollar Index saw its second consecutive day of gains amid a risk-off sentiment, driven by anticipation surrounding the upcoming release of US Personal Consumption Expenditures (PCE) scheduled for Friday. However, the decline in US Treasury yields may be attributed to the expectations surrounding the US Federal Reserve regarding potential rate cuts. This sentiment could limit the advances of the US dollar. On the data front, US durable goods orders increased by 1.4% in February, against the 1.3% expected and previous decline of 6.9%. US durable goods orders excluding defense rose by 2.2% in February, compared to the expected 1.1% and 7.9% previous decline. US Housing Price Index decreased MoM by 0.1% in January, against the December’s increase of 0.1%. The Pound sterling fell to near 1.2600 in Wednesday’s early American session. The broader appeal remains weak as investors expect the Bank of England (BoE) will start reducing interest rates sooner than previously anticipated. The BoE said last week in its monetary policy statement that the central bank is not at a point where interest rates can be reduced. However, policymakers didn’t rule out the market’s view of two or three rate cuts this year. Investors will keenly focus on the United States core Personal Consumption Expenditure Price Index (PCE) data for February, published on Good Friday. The annual Core PCE is forecasted to have grown at a steady pace of 2.8%. Daily Commentary will be on break for the long weekend from Friday, March 29th to Monday, April 1st and will resume Tuesday, April 2nd. Expected RangesAUD/USD: 0.6430 - 0.6630 ▲AUD/EUR: 0.5930 - 0.6130 ▼GBP/AUD: 1.9230 - 1.9430 ▼AUD/NZD: 1.0780 - 1.0980 ▲AUD/CAD: 0.8760 - 0.8960 ▼

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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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  • Aussie dollar holds above US$0.65

    Mar 26, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar is relatively unchanged this morning when valued against the Greenback currently trading at US$0.6531 at the time of writing. The Australian dollar extended its gains on Tuesday. In the European session, AUD/USD is trading at US$0.6557, up 0.26%. The broader outlook reveals that the bears exhibit a somewhat stronger presence, which could maintain a certain level of pressure on the pair. There were no local data releases yesterday. Looking ahead today all eyes will be on the Australian Bureau of Statistics monthly release of Consumer Price Index (CPI) which is expected to rise from 3.4% to 3.5%. 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. That could set back expectations for a rate cut from the Reserve Bank of Australia, which has kept rates unchanged at 4.35% for four straight times. The markets are of the view that the RBA’s tightening cycle is done and have priced in a rate cut later in the year. Still, the RBA hasn’t ruled out rate hikes, with inflation still well above the 2% target. Finally, on Thursday we will see the release of the monthly Retail Sales figures. Key Movers On the data front on Monday, the US February New Home Sales dropped 0.3% MoM from a 1.7% gain in January, below the market expectations for a 2.3% MoM rise. Meanwhile, the Dallas Fed Manufacturing Survey fell to -14.4 in March from the previous reading of -11.3. Overnight we saw the release of US Durable Goods Orders for February, which roundly beat expectations, according to data from the US Census Bureau. The data showed headline Durable Goods Orders rising 1.4% when 1.3% had been forecast, and Durable Goods Orders ex Defense rising 2.2% when 1.1% had been estimated. Durable Goods ex Transport also beat forecasts, coming in at 0.5% versus 0.4% expected. Finally, Nondefense Capital Goods ex-Aricraft rose 0.7% versus 0.1% expected. The US PCE report on Friday will be in the spotlight. The headline PCE is estimated to show an increase of 0.4% MoM, while the Core CPE is projected to rise by 0.3% MoM. The pound faces pressure near US$1.2650 against the US Dollar in Tuesday’s early American session as the latter rebounds. The GBP/USD pair exhibits falls as investors expect that the Bank of England will be more dovish this year than previously anticipated, driven by lower-than-anticipated inflation data in January and February. A senior Bank of England policymaker has warned that financial markets are expecting too many interest rate cuts this year and that the UK central bank is unlikely to move before the US Federal Reserve. Catherine Mann, an external member of the Bank’s rate-setting monetary policy committee (MPC), said there were risks that UK inflation could persist at higher levels than in the US or the eurozone. Last month the Bank’s monetary policy committee voted by a majority to keep interest rates at the current level of 5.25%, the highest level since the 2008 financial crisis. Expected RangesAUD/USD: 0.6430 - 0.6630 ▼AUD/EUR: 0.5920 - 0.6120 ▼GBP/AUD: 1.9200 - 1.9400 ▲AUD/NZD: 1.0760 - 1.0960 ▲AUD/CAD: 0.8760 - 0.8960 ▼

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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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  • Aussie dollar continues to trade above US$0.65

    Mar 25, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar is slightly stronger this morning when valued against the Greenback, currently trading at US$0.6538 at the time of writing. Yesterday, The Aussie dollar bounced off last Friday’s low of US$0.6508 and is climbing but faces a key resistance level at US$0.6550. The Australian dollar receives upward momentum as the ASX 200 Index extends its winning streak, led by gains in the mining and energy sectors. Additionally, the Aussie dollar is bolstered by a stronger Chinese yuan (CNY), with the People's Bank of China (PBoC) setting the mid-rate for the onshore yuan significantly higher than expected. Looking ahead today, we will see the Westpac Consumer Sentiment a survey of about 1,200 consumers that asks respondents to rate the relative level of past and future economic conditions, employment and climate for major purchases. On Wednesday, all eyes will be on the Australian Bureau of Statistics monthly release of Consumer Price Index (CPI) which is expected to rise from 3.4% to 3.5%. 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 Thursday we will see the release of the monthly Retail Sales figures. Key Movers Overnight the Pound sterling had a mild recovery against the Greenback in the mid-North American session, as the Greenback remains offered amid speculations the Federal Reserve (Fed) would cut rates in June. At its March meeting last week, the Fed held the benchmark rate to the 5.25%-5.5% range. After that meeting, Fed Chairman Jerome Powell emphasized that policymakers are likely to cut interest rates later this year. Still, only once they have greater confidence that inflation is moving toward its 2% target. At the time of writing, the GBP/USD trades at 1.2635. gains 0.32%. On the data front, US housing data was weaker than expected as New Home Sales slumped 0.3%, with sales coming at 0.662 million, below estimates of  0.675 million and January’s 0.664 million. Elsewhere, the Chicago Fed announced the National Activity Index saw improvement, moving from -0.54 to 0.05, with positive developments across all four index categories. The tiny decline registered was likely owed to an uptick in mortgage rates during the month. According to Freddie Mac, the average 30-year mortgage rate rose to 6.8% in February, from 6.6% the month prior. Moving forward, a structural shortfall of available single-family homes and home builders' ability to bridge the affordability gap with price incentives, should continue as tailwinds and support an improving sales pace this year. Expected RangesAUD/USD: 0.6440 - 0.6640 ▲AUD/EUR: 0.5930 - 0.6130 ▲GBP/AUD: 1.9200 - 1.9400 ▼AUD/NZD: 1.0800 - 1.1000 ▲AUD/CAD: 0.8800 - 0.9000 ▲

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  • Aussie dollar holds above US$0.65

    Mar 24, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar is weaker this morning when valued against the Greenback currently trading at 0.6508 at the time of writing. The Aussie dollar traded back down at the bottom of its multi-week range in the lower 0.6500s on Friday, after positive US data led to a reversal in the pair from its 0.6635 Thursday highs. On the data front last week the Unemployment Rate fell to 3.7% from 4.1% in February, and the number of new employees hit 116,500, a number well above the average. Both data points beat expectations of 4.0% and 40,000 respectively. A deeper dig into Australia’s labor market statistics and seasonal effects, however, suggests the incredible data in February obscured a much more modest underlying trend. Looking ahead this week and on Tuesday we will see the Westpac Consumer Sentiment a survey of about 1,200 consumers which asks respondents to rate the relative level of past and future economic conditions, employment, and climate for major purchases. On Wednesday all eyes will be on the Australian Bureau of Statistics monthly release of Consumer Price Index (CPI) which is expected to rise from 3.4% to 3.5%. 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 Thursday we will see the release of the monthly Retail Sales figures. Key Movers In the US on Friday the S&P Global Services PMI exhibited a slight decline in March, dropping to 51.7 from 52.3, slightly below the expected reading of 52.0. Conversely, the Manufacturing PMI increased to 52.5, surpassing expectations of 51.7 and the previous figure of 52.2. However, the Composite PMI showed a slight dip to 52.2 from the previous 52.5. The Dow Jones Industrial Average (DJIA) was forced into the low side around three-quarters a percent as US equities drifted in multiple directions on Friday. Most of the US equity market’s major sectors were in the red on Friday, with Real Estate down around 1.25%, closely followed by the Financial Sector which fell 1.21%. The Communications Services Sector closed up around 0.85% as telecoms rebounded from recent selling pressure. The US economy is holding resilient with a strong labor market and inflation remaining sticky. Next week, February’s Personal Consumption Expenditures (PCE) will provide additional guidance to markets. The Pound Sterling remains vulnerable against the US dollar in Friday’s early New York session as the market sentiment is quite bearish. The GBP/USD pair fails to find support as increasing expectations that the Bank of England (BoE) will cut interest rates this year outweigh February Retail Sales data, which broadly beat market expectations. The United Kingdom Office for National Statistics (ONS) reported that monthly Retail Sales were unchanged after increasing by a significant 3.6% in January, a figure that was upwardly revised from 3.4%. Investors had anticipated sales to decline by 0.3%. On an annual basis, sales contracted by 0.5% against expectations of a 0.7% decline. The GBP/USD pair is currently trading at 1.2558 at the time of writing. Expected RangesAUD/USD: 0.6400 - 0.6600 ▼AUD/EUR: 0.5900 - 0.6100 ▼GBP/AUD: 1.9150 - 1.9350 ▲AUD/NZD: 1.0650 - 1.0850 ▼AUD/CAD: 0.8750 - 0.8950 ▼

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  • Aussie dollar trades back down below US$0.66

    Mar 21, 2024 | 17:00 pm

    AUD - Australian dollar The Australian dollar is slightly weaker this morning when valued against the Greenback, currently trading at 0.6569 at time of writing. The Aussie dollar reached a high of 0.6634 yesterday, but traded back down at the lows of the day, during the US session on Thursday, after a batch of relatively strong American data helped the US dollar (USD) claw back lost ground. On the data front yesterday a shock surge in employment last month has seen the unemployment rate tumble back to levels not seen since September last year. The unemployment rate has dropped back to 3.7 per cent with more than 116,000 extra Australians in employment last month, compared with January, according to seasonally adjusted data from the Australian Bureau of Statistics (ABS). The estimated 116,500 increase in employment was the biggest monthly jobs gain since the east coast COVID lockdowns ended in November 2021, and the largest on record outside of the pandemic period. Economists were generally expecting about 40,000 extra people to be employed last month and an unemployment rate of 4 per cent. Markets are currently pricing in an 80 per cent chance of rates falling by August, while a rate cut by September is almost fully priced in, however any rate move before then is seen as very unlikely. Looking ahead today and the Reserve Bank of Australia (RBA) will release the Financial Stability Review. It's an assessment of conditions in the financial system and potential risks to financial stability, the evidence on strains and imbalances can provide insight into the future of monetary policy. Key Movers In the US, overnight we saw the release of US PMI data for March, Initial Jobless Claims and the Philadelphia Fed Manufacturing Index, which all supported the USD. Business activity in the US private sector continued to expand at a healthy pace in early March, with the S&P Global Composite PMI coming in at 52.2. This reading came in slightly below the February's 52.5. S&P Global Manufacturing PMI improved to 52.5 from 52.2 in the same period, while S&P Global Services PMI edged lower to 51.7 from 52.3. The latest Philadelphia Fed manufacturing index remained in positive territory for a second straight month, indicating continued expansion. In March, the index inched down to 3.2 from 5.2 in February, coming in above the forecast of -2.6. In the latest report the index remained in positive territory for a second straight month. This is only the fourth positive reading for the index in the past 22 months. In other words, the index has had 18 negative readings in the past 22 months, which more closely resembles those periods during recessions. While the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, sales of previously owned homes increased by the most in a year in February, signs the economy remained on solid footing in the first quarter. Initial claims for state unemployment benefits dropped 2,000 to a seasonally adjusted 210,000 for the week ending March 16, the Labor Department said. Economists polled by Reuters had forecast 215,000 claims in the latest week. Claims have been mostly bouncing around a 200,000-213,000 range since February. Despite a flurry of high-profile layoffs at the start of the year, employers have largely been hoarding labour after struggling to find workers during and after the COVID-19 pandemic. Expected RangesAUD/USD: 0.6465 - 0.6665 ▼AUD/EUR: 0.5940 - 0.6140 ▼GBP/AUD: 1.9140 - 1.9340 ▲AUD/NZD: 1.0750 - 1.0950 ▲AUD/CAD: 0.8780 - 0.8980 ▼

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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

    Read more...
  • 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

    Read more...
  • Forex Today: Gold, Bitcoin Set New Record Highs

    Mar 5, 2024 | 23:18 pm

    Gold & Bitcoin Briefly Reach New All-Time Highs, Bitcoin Plunges Then Recovers; Markets Await Fed Chair Powell Testimony; Bank of Canada Expected to Hold Rates

    Read more...
  • Forex Today: Bitcoin Retreats Just Shy of Record High

    Mar 5, 2024 | 01:01 am

    Bitcoin Makes New 2-Year High Just Below $69,000; WTI Crude Oil Retreats From Key Resistance Near $80.50; Swiss Inflation Ticks Higher; Markets Await Fed Chair Powell Testimony

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  • Forex Today: Major Stock Markets Advance to Record Highs

    Mar 4, 2024 | 00:14 am

    NASDAQ, S&P 500, DAX, Nikkei 225 All Reach All-Time Highs; Bitcoin Makes New 2-Year High; WTI Crude Oil Trying to Break Key Resistance Around $80.50; Swiss CPI Data Due Later

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  • Forex Today: Bitcoin Powers to New 2-Year High Above $63,000

    Feb 28, 2024 | 23:35 pm

    Bitcoin Strongly Bid, Advancing to Long-Term Record Price; Yen Gains as Bank of Japan Signals Policy Shift Coming Closer; Fed Officials Say Data Will Guide Rate Path

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  • New Zealand Central Bank Maintains Rates, New Zealand Dollar Slides

    Feb 28, 2024 | 02:54 am

    The Reserve Bank of New Zealand (RBNZ) held the cash rate at 5.50% at today’s meeting.

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  • Forex Today: Kiwi Lower on RBNZ Dovish Tilt

    Feb 27, 2024 | 22:48 pm

    RBNZ Less Hawkish on Inflation, Sinking Kiwi; Australian Inflation Lower than Expected; US Preliminary GDP Data Release Later

    Read more...
  • Forex Today: Nikkei 225 Index Breaks Another Record

    Feb 25, 2024 | 23:17 pm

    Nikkei 225 Index Reaches New High Price; Yen Volatility Falling

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  • Forex Today: FOMC Minutes Show Fed Go Slow on Rate Cuts

    Feb 21, 2024 | 23:14 pm

    FOMC Minutes Show More Progress Needed on Inflation; Nikkei 225 Index Reaches Record High; Stocks Mostly Higher After FOMC Release

    Read more...
  • Forex Today: Canadian Inflation Falls Faster

    Feb 20, 2024 | 23:13 pm

    Canadian CPI at 2.9%; Markets Await FOMC Minutes; Australian Wage Price Index Data as Expected.

    Read more...
  • Inflation in Canada Falls to 2.9% in January

    Feb 20, 2024 | 20:41 pm

    Canada’s Consumer Price Index (CPI) dropped to 2.9% year-on-year in January.

    Read more...
  • Forex Today: RBA Minutes Show Rate Hike Was Considered

    Feb 19, 2024 | 23:13 pm

    RBA Minutes Justify Rates Pause; Yen Weakens; Markets Await Canadian Inflation Data.

    Read more...
  • Forex Today: Bitcoin Threatens High Price

    Feb 18, 2024 | 23:15 pm

    Bitcoin Rising Firmly; Global Stocks Mixed; Cocoa Futures Sell Off

    Read more...
  • Forex Today: UK in Recession

    Feb 14, 2024 | 23:19 pm

    UK GDP Down 0.3% in Last Quarter; Global Stocks Rebound; Bitcoin Makes New High Above $52,000

    Read more...
  • Forex Today: UK Inflation Unchanged at 4.0%

    Feb 13, 2024 | 23:17 pm

    UK Inflation Slightly Lower Than Expected; US Inflation Falls to 3.1%; Dollar Advances to 3-Month High, S&P 500, NASDAQ 100, Dow Jones 30 Sell Off; Bitcoin Testing $50k; Swiss Inflation Weaker Than Expected

    Read more...
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