Forex News Live Today: The Ultimate Source for Forex News

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  The Latest Forex News Live Today:

  • U.S. Consumer Prices Rise Slightly Less Than Expected In February

    Mar 29, 2024 | 11:41 am

    The U.S. Commerce Department has revealed that consumer prices in February rose by a slightly smaller margin than predicted. The report showed a 0.3% increase, compared to a recently revised 0.4% increase in January. This falls short of economists' expectations that consumer prices would rise by 0.4%.Simultaneously, February saw a slight uptick in the annual rate of consumer price growth, moving from 2.4% in January to 2.5%. This aligns with estimates made earlier.When food and energy prices are excluded, the core consumer prices in February also rose by 0.3%, after January’s recently revised 0.5% increase. Again, this met economists' expectations. However, the year-on-year rate of core consumer price growth reduced marginally, coming in at 2.8% in February, down from a re-envisioned 2.9% in January. This is contrary to projections that the core price growth rate would remain steady at 2.8%.The inflation metrics, which the Federal Reserve reportedly favors, were part of the Commerce Department’s larger report on personal income and spending in February.The material has been provided by InstaForex Company - www.instaforex.com

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  • Italy Inflation Accelerates In March

    Mar 29, 2024 | 10:46 am

    Preliminary reports from the Italian National Institute of Statistics (ISTAT) indicate that while inflation in Italy accelerated in March, it did so at a rate slower than anticipated. This data was made available on Friday.In March, consumer prices recorded a year-on-year increase of 1.3%, compared to a growth of 0.8% in February. However, this climb was marginally lower than the predicted increase of 1.4%. On a month-to-month comparison, the consumer price index saw a slight increment of 0.1%, with a projected rise of 0.2%.When excluding the costs of energy and unprocessed food, core inflation increased modestly from 2.3% to 2.4%. The data also highlighted a slowing down in the decline of regulated energy product prices, from a reduction of 13.8% and non-regulated energy prices falling 10.3%.According to the harmonized index of consumer prices, March saw an annual inflation rate of 1.3%, a significant increase compared to the 0.8% rise in February. Nevertheless, this figure was lower than economists' prediction of a 1.5% increase. On a monthly scale, the harmonized index of consumer prices experienced an increase of 1.2%, following a stagnant period the previous month, with a speculated increase of 1.4%.The material has been provided by InstaForex Company - www.instaforex.com

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  • United States Core PCE Price Index Holds Steady at 2.8% in February 2024

    Mar 29, 2024 | 10:30 am

    The latest data on the Core Personal Consumption Expenditures (PCE) Price Index for the United States revealed that the indicator remained unchanged at 2.8% in February 2024 compared to the same period last year. This key measure of inflation, closely monitored by the Federal Reserve, provides insights into the price changes experienced by consumers, excluding the often-volatile food and energy sectors.The previous indicator for January 2024 also stood at 2.8%, signaling no movement in inflation rates between the two months. The comparison on a year-over-year basis indicates that the cost of goods and services included in the index has remained relatively stable over the past year. This data, updated on March 29, 2024, will inform policymakers and analysts about the current state of inflation in the US economy, influencing decisions on monetary policy and economic projections.The material has been provided by InstaForex Company - www.instaforex.com

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  • US Goods Trade Balance Widens in February 2024

    Mar 29, 2024 | 10:30 am

    The United States saw its goods trade balance widen in February 2024, with the deficit increasing from -90.2 billion in January 2024 to -91.84 billion. The latest data update on March 29, 2024, reflects this change. This indicates a deteriorating trade balance for the country in the goods sector for the specified period. The widening trade deficit may have implications for the US economy and its trade relations with other countries, highlighting the importance of monitoring trade balances for economic stability and growth.The material has been provided by InstaForex Company - www.instaforex.com

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  • United States Personal Consumption Expenditures Price Index Increases to 2.5% in February 2024

    Mar 29, 2024 | 10:30 am

    The Personal Consumption Expenditures (PCE) Price Index in the United States has shown a slight increase to 2.5% in February 2024, up from 2.4% in January 2024. This data, which was updated on 29th March 2024, reflects a year-over-year comparison, where the current indicator is compared to the same month a year ago.The PCE Price Index is a key measure of inflation, indicating the average change over time in the prices paid by consumers for goods and services. This increase may have implications for consumers, businesses, and policymakers as they analyze trends in consumer spending patterns and inflationary pressures within the economy. The slight rise in the index could influence future monetary policy decisions by the Federal Reserve as they aim to maintain price stability and support economic growth.The material has been provided by InstaForex Company - www.instaforex.com

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  • United States' PCE Price Index Remains Steady in February 2024

    Mar 29, 2024 | 10:30 am

    The Personal Consumption Expenditures (PCE) Price Index in the United States showed no change in February 2024, maintaining the same level as January at 0.3%. The data, updated on March 29, 2024, indicated that there was no month-over-month increase in the index. The PCE Price Index is a key measure of inflation and reflects the average change over time in the prices paid by consumers for goods and services.This stability in the PCE Price Index suggests that inflationary pressures remained relatively unchanged from the previous month. Economists closely monitor this indicator to assess the purchasing power of consumers and the overall health of the economy. The steady PCE Price Index in February indicates that consumer prices remained in check, providing some assurance amidst ongoing economic uncertainties both domestically and globally.The material has been provided by InstaForex Company - www.instaforex.com

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  • US Real Personal Consumption Increased by 0.5% in February 2024

    Mar 29, 2024 | 10:30 am

    According to recent data released by the United States, the real personal consumption in the country saw a significant increase in February 2024. The previous indicator, which was at -0.1% in January 2024, saw a notable turnaround as the current indicator reached 0.4% in February 2024. This marks a positive change in consumer spending habits within the nation.The comparison for this data is done on a month-over-month basis, showing a 0.5% increase in real personal consumption from January to February 2024. This uptick in consumer spending could potentially indicate growing confidence in the economy and increased purchasing power among individuals. The data was updated on 29th March 2024, reflecting the most recent statistics on the country's personal consumption trends.The material has been provided by InstaForex Company - www.instaforex.com

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  • US Retail Inventories Show Increase in February

    Mar 29, 2024 | 10:30 am

    According to the latest data released by the United States Department of Commerce, retail inventories excluding automobiles in February 2024 showed a growth of 0.4%. This marks a slight increase from the previous month's figure of 0.3% in January 2024. The update, dated 29th March 2024, indicates a positive trend in retail inventories, which can reflect strengthening consumer demand and economic activity in the country.The rise in retail inventories is a crucial economic indicator as it provides insights into the level of goods available for sale, which can influence production, employment, and overall economic growth. Analysts and investors closely monitor these figures to gauge the health of the retail sector and the broader economy. The uptick in retail inventories in February suggests that businesses were stocking up on goods in anticipation of continued consumer spending, signaling optimism about future sales and economic prospects.The material has been provided by InstaForex Company - www.instaforex.com

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  • Wholesale Inventories Increase by 0.5% in the United States for March 2024

    Mar 29, 2024 | 10:30 am

    According to the most recent data updated on 29 March 2024, wholesale inventories in the United States have experienced a positive growth of 0.5% for the month of March. The previous indicator had shown a decline of -0.3% back in January 2024, marking a turnaround in the inventory trend. The comparison was done on a Month-over-Month basis, where the current indicator reflects the change in inventories for March compared to February, showcasing an increase in stock levels. This uptick in wholesale inventories could indicate a rise in demand for goods, potentially pointing towards economic growth in the country. Investors and analysts will be monitoring this data closely for its implications on future economic performance and market trends.The material has been provided by InstaForex Company - www.instaforex.com

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  • French Inflation Slowest Since Late 2021

    Mar 29, 2024 | 10:30 am

    The latest reports reveal that France's consumer price inflation decelerated to a two-and-a-half-year low in March. This slower pace is mainly attributed to modest increases in food and energy costs, according to the preliminary data from the French National Institute of Statistics and Economic Studies (INSEE).Statistics show that in March, the annual growth rate of the consumer price index (CPI) was 2.3 percent, a decrease from the 3.0 percent observed in February. This inflation rate is the lowest since September 2021 when it was recorded at 2.2 percent, contrary to the predicted 2.6 percent escalation for March.This annual downturn is representative of a decelerated year-on-year growth in various sectors such as food, services, tobacco, energy, and production of manufactured goods. Notably, inflation in the food sector reduced significantly to 1.7 percent from 3.6 percent. Concurrently, there was a slowdown in the growth of energy prices to 3.4 percent, a considerable fall from the previous month's 4.3 percent rise.The growth in the prices of manufactured goods also declined to 0.1 percent from the previous 0.4 percent, while service costs rose by 3.0 percent, a slight decrease from the 3.2 percent increment in February.On a monthly basis, the increase in the CPI was restrained to a mere 0.2 percent following a 0.9 percent hike in February. This figure was also below economists' anticipated growth of 0.5 percent.Moreover, the harmonized inflation was dampened to 2.4 percent in March from the previous month's 3.2 percent. Contrary to expectations of a 2.8 percent reading, the harmonized CPI surged by a subdued 0.3 percent over one month, following a 0.9 percent rise during the preceding month. The final data related to this is expected on April 12.Separate data provided by INSEE indicates that household expenditure remained static in February. The drop in energy consumption offset the increase seen in spending on food and manufactured goods. Projections had anticipated a modest rise in household consumption by 0.3 percent, following a 0.6 percent drop in January.Moreover, the report also states that producer prices witnessed a drop for the third consecutive month in February. Prices within the domestic market fell by 5.5 percent, a sharp downturn from the 4.9 percent decline in January. Despite this, they remained 28 percent higher than their average level in 2021. In terms of monthly variations, producers' prices saw a 1.7 percent drop subsequent to a 1.0 percent decline in January.The material has been provided by InstaForex Company - www.instaforex.com

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  • US Core PCE Price Index Slightly Decreases to 0.3% in February

    Mar 29, 2024 | 10:30 am

    The Core Personal Consumption Expenditures (PCE) Price Index in the United States showed a slight decrease to 0.3% in February 2024, down from 0.5% in January 2024. The Core PCE Price Index is a key measure of inflation that excludes the volatile food and energy components. This indicator is closely monitored by the Federal Reserve as it reflects underlying inflation trends.The data, updated on 29th March 2024, indicates a month-over-month comparison. This means that the current indicator of 0.3% reflects the change in February compared to January 2024. The slight decrease in the Core PCE Price Index suggests that inflationary pressures might be easing slightly. Economists and policymakers will continue to watch these figures closely to determine the future course of monetary policy.The material has been provided by InstaForex Company - www.instaforex.com

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  • Personal Income in the United States Sees Slight Slowdown in February 2024

    Mar 29, 2024 | 10:30 am

    According to the most recent data updated on March 29, 2024, personal income in the United States experienced a slight slowdown in February 2024 compared to the previous month. The current indicator has stopped and reached 0.3%, down from the previous month's 1% increase in January 2024.The comparison, which is month-over-month, shows a decrease in the growth rate. While personal income continues to rise, the pace has slowed down in February. This data suggests a potential adjustment in the income trends for individuals in the United States as the year progresses. Analysts will be keeping a close eye on how this trend develops in the coming months and its impact on the overall economic landscape.The material has been provided by InstaForex Company - www.instaforex.com

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  • United States Sees Surge in Personal Spending in February 2024

    Mar 29, 2024 | 10:30 am

    According to the latest data released on 29 March 2024, personal spending in the United States experienced a significant surge in February 2024. The indicator for personal spending reached 0.8% in February, marking a notable increase from the previous month's 0.2%. The month-over-month comparison highlights the positive trend in consumer behavior, showcasing a strong willingness to spend among Americans.This uptick in personal spending could have positive implications for the US economy, as consumer spending plays a pivotal role in driving economic growth. With a rise in personal spending, businesses across various sectors may benefit from increased demand for goods and services. Economists and policymakers will likely closely monitor these trends to gauge the overall health of the economy and assess the need for any potential adjustments in monetary policies to support continued growth.The material has been provided by InstaForex Company - www.instaforex.com

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  • Guardion Health Swings To Annual Net Profit, Revenue Improves

    Mar 29, 2024 | 10:19 am

    Guardion Health Sciences, Inc., a company specializing in clinical nutrition and diagnostics, reported a net profit for the entire year on Friday. Jan Hall, CEO of Guardion, expressed satisfaction with the developments of 2023, attributing the success to significant growth in the revenue line, enhanced operational margins, and less cash expenditure.For the year-long term, the company noted a net profit of $0.158 million or $0.12 per share, contrasting the loss of $14.922 million or $14.15 per share recorded the previous year. Additional income rose to $4.494 million, beating the previous year's $2.498 million, an increase attributed to a substantial non-cash gain from alterations in the fair value of the warrant derivative liability amounting to $3.984 million in 2023, as opposed to $2.345 million the year before.The operating loss shrunk to $4.336 million, a significant reduction from 2022's $17.420 million. Revenue climbed to $12.248 million, an increase from the prior year's $11.049 million. Guardion's Viactiv product line contributed to these profits, generating net revenues of $11.907 million, a visible rise from the $10.640 million recorded in the years prior.The material has been provided by InstaForex Company - www.instaforex.com

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  • Mauritius' GDP Annual Growth Slows to 7% in Latest Data Update

    Mar 29, 2024 | 10:00 am

    Mauritius' annual GDP growth has decelerated as the latest data update shows a decrease to 7% from the previous level of 8.9%. The data, last updated on 29th March 2024, indicates a slowdown in the country's economic expansion. The exact dates of when these changes occurred have not been specified in the information provided. The shift in GDP growth rate could impact various sectors of the economy and may prompt policymakers to take action to stimulate growth and address potential challenges in the future. Stay tuned for further updates on Mauritius' economic performance and strategies to navigate this development.The material has been provided by InstaForex Company - www.instaforex.com

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  • India's Foreign Exchange Reserves Increase to $642.63 Billion

    Mar 29, 2024 | 09:30 am

    India's foreign exchange reserves have risen to $642.63 billion, according to the latest data updated on March 29, 2024. This marks an increase from the previous recorded indicator of $642.49 billion. The rise in foreign exchange reserves signals India's strengthening position in terms of its ability to meet external obligations and maintain stability in the foreign exchange market. The steady growth in reserves reflects positively on India's economic prospects and resilience in the face of global uncertainties, positioning the country as a key player in the international financial landscape.The material has been provided by InstaForex Company - www.instaforex.com

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  • Ukraine's Current Account Improves in February 2024

    Mar 29, 2024 | 09:20 am

    Ukraine's current account showed improvement in February 2024, with the deficit narrowing from -0.461 billion USD in January 2024 to -0.111 billion USD in February 2024. This positive change indicates a better balance between the country's imports and exports during the period. The data, which was updated on 29 March 2024, reflects a more favorable economic performance for Ukraine in terms of its international trade and financial transactions. Investors and analysts will be keeping a close eye on future developments to assess the country's economic stability and growth prospects amidst global uncertainties.The material has been provided by InstaForex Company - www.instaforex.com

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  • Tokyo Core Inflation Softens In March

    Mar 29, 2024 | 09:05 am

    In March, Tokyo's core inflation softened but continued to surpass the 2 percent target, presenting a complex decision for the Bank of Japan concerning the direction of monetary policy following the earlier exit from negative interest rates this month.Core inflation, which excludes fresh food, slightly dropped to 2.4 percent from February's 2.5 percent, the data from the Ministry of Internal Affairs and Communications showed. Simultaneously, inflation, excluding fresh food and fuel costs, shrank to 2.9 percent from 3.1 percent in the previous month. However, overall inflation saw a rise, reaching 2.6 percent from the previous month's 2.5 percent.These figures imply the Bank of Japan won't tighten monetary policies any further, according to Capital Economics economist Marcel Thieliant. The Bank raised interest rates for the first time since 2007, earlier this month. The overnight interest rate was increased to between 0 and 0.1 percent from a negative 0.1 percent.According to the ING economist Min Joo Kang, the central bank's sustained inflation growth target for this year is achievable due to stronger-than-expected wage negotiation results for the fiscal year of 2024. The Bank of Japan will focus more on the improvement in retail sales and stubborn inflation figures, as opposed to poor industrial output and labor results primarily led by a distinctive factor, added the economist.Despite expectations for a 1.2 percent increase, March witnessed a 0.1 percent monthly drop in industrial production. However, the shrinking rate has improved from January's steep 6.7 percent setback.As per the Ministry of Economy, Trade, and Industry, while industrial production fluctuates, it shows signs of decline. Yet, they expect a 3.3 percent boost in production in April. As another report from the ministry detailed, retail sales growth quickened to 4.6 percent in February, a marked improvement from 2.1 percent a month earlier.The Ministry of Internal Affairs and Communications also reported a 2.6 percent jobless rate in February, challenging the forecast that remained unchanged at 2.4 percent. Consequently, the total number of unemployed individuals reached 1.77 million, an increment of 30,000 from the preceding year.The material has been provided by InstaForex Company - www.instaforex.com

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  • Brazil's Long Term Interest Rate TJLP Increases to 6.67% Amid Recent Update

    Mar 29, 2024 | 09:00 am

    Brazil's Long Term Interest Rate TJLP has been revised upwards to 6.67%, marking a rise from the previous rate of 6.53%. The latest update on March 29, 2024, indicates this adjustment in the country's long-term interest rate, reflecting changing economic conditions. The TJLP plays a vital role in Brazil's financial landscape, influencing borrowing costs for long-term investments and projects. This increase signifies a potential shift in the country's economic outlook and may impact investment decisions in various sectors. Analysts are closely monitoring the implications of this rate adjustment on Brazil's financial markets and economic stability moving forward.The material has been provided by InstaForex Company - www.instaforex.com

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  • Italian Consumer Price Index Unchanged at 0.1% in March

    Mar 29, 2024 | 08:00 am

    The latest data on the Italian Consumer Price Index (CPI) for the month of March 2024 shows that the indicator remained unchanged at 0.1%. This follows the previous month's figure, also at 0.1% in February 2024. The comparison period, which is month-over-month, indicates that there was no significant change in the CPI from February to March.The update on the Italian CPI was released on 29th March 2024, reflecting the stability in consumer prices during the period. While inflation remains low, it suggests that price levels have not seen a significant increase in March compared to the previous month. The steady CPI can have implications for the overall economic landscape in Italy and may influence future monetary policy decisions to support economic growth and stability.The material has been provided by InstaForex Company - www.instaforex.com

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  • Italy's Consumer Prices Rise in March 2024, Reaching 1.3% Year-over-Year

    Mar 29, 2024 | 08:00 am

    In March 2024, Italy's Consumer Price Index (CPI) showed a significant increase, reaching 1.3% year-over-year. This marks a noticeable uptick from the previous month's figure of 0.8% in February 2024. The data, which was updated on 29 March 2024, indicates a positive trend in consumer prices within the Italian economy.The CPI is a key economic indicator that measures the average change in prices paid by consumers for goods and services over time. This rise in consumer prices could have various implications for Italy's economic outlook, including influencing monetary policy decisions and consumer spending behavior. The year-over-year comparison provides valuable insights into how consumer prices have evolved in Italy compared to the same period a year ago, highlighting the ongoing inflationary pressures within the country's economy. It will be essential to monitor future CPI data releases to assess the sustainability of this upward trend in consumer prices.The material has been provided by InstaForex Company - www.instaforex.com

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  • Greek Retail Sales Plummet by 8.9% in January 2024

    Mar 29, 2024 | 08:00 am

    The latest data on Greek retail sales for January 2024 has sparked concerns as the indicator took a sharp downturn, dropping by 8.9% compared to the same month a year ago. This significant decrease comes after the previous indicator showed a slight growth of 0.8% in December 2023. The sudden shift in retail sales highlights the challenges faced by the Greek economy, signaling potential economic slowdown or consumer spending constraints.The update on Greek retail sales was released on March 29, 2024, shedding light on the current economic landscape in the country. The Year-over-Year comparison underscores the substantial decrease in consumer activity, raising questions about the underlying factors contributing to this decline. As Greece navigates through economic fluctuations, policymakers and market analysts will closely monitor these developments to gauge the broader implications on the country's financial outlook.The material has been provided by InstaForex Company - www.instaforex.com

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  • Italian HICP Rises to 1.3% in March 2024

    Mar 29, 2024 | 08:00 am

    In March 2024, Italy's Harmonized Index of Consumer Prices (HICP) increased to 1.3%, up from the previous month's figure of 0.8% in February 2024. The data, updated on 29th March 2024, shows a year-over-year comparison, indicating a noticeable uptick in consumer prices compared to the same period last year.The HICP serves as a key measure of inflation, reflecting changes in the prices paid by Italian consumers for a basket of goods and services. This uptick in the HICP suggests a potential increase in overall inflation in Italy, which can impact various economic factors such as consumer spending habits, interest rates, and investment decisions.Investors and policymakers closely monitor inflation indicators like the HICP to assess the state of the economy and make informed decisions regarding monetary policies. The rise in the Italian HICP to 1.3% in March 2024 highlights the evolving economic landscape, signaling potential implications for businesses and consumers in the country.The material has been provided by InstaForex Company - www.instaforex.com

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  • Italian HICP Shows 1.2% Increase in March 2024

    Mar 29, 2024 | 08:00 am

    According to the latest data released on 29 March 2024, Italy's Harmonized Index of Consumer Prices (HICP) for the month of March registered a 1.2% increase compared to February 2024, where the indicator remained at 0%. The HICP is a key inflation measure that assesses the average change over time in the prices paid by consumers for a basket of goods and services.This Month-over-Month comparison indicates a notable uptick in consumer prices, reflecting potential economic shifts and cost pressures within Italy. The updated HICP figure for March 2024 suggests a slight inflationary trend, which can impact consumer purchasing power and overall economic conditions in the country. Investors and policymakers will likely monitor these developments closely to assess the broader implications on Italy's economy and financial markets.The material has been provided by InstaForex Company - www.instaforex.com

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  • Greek Producer Price Index (PPI) Shows Improvement in February 2024

    Mar 29, 2024 | 08:00 am

    The latest data on the Greek Producer Price Index (PPI) for February 2024 indicates a positive change from the previous month. The PPI, which measures the average changes in prices received by domestic producers for their goods and services, had previously shown a decrease of -7% in January 2024. However, in February 2024, the PPI improved, reaching -4.3%.The Year-over-Year comparison reveals that the current indicator of -4.3% is an improvement compared to the same month a year ago. This data, updated on 29th March 2024, suggests a potential turnaround in producer prices in Greece. The shift towards a less negative figure could indicate stabilization in the economy and a positive outlook for the future. Investors and policymakers will likely keep a close eye on future PPI data to assess the ongoing economic recovery in Greece.The material has been provided by InstaForex Company - www.instaforex.com

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  • US dollar dips in thin trade after PCE data

    Mar 29, 2024 | 06:56 am

    I would be careful taking any signals from today's FX market moves but the US dollar dip after the PCE report is probably the right one.The key number from the report was the month-over-month core PCE reading. On the surface it matched the +0.3% m/m reading but unrounded it was at +0.261%, making it much close to +0.2% than +0.4%. I'd caution though that the prior number was revised up to +0.5% m/m from +0.4% so perhaps that balances it out.On net, the year-over-year reading at +2.5% (as expected) captures core inflation.The US dollar fell 15-20 pips across the board on the data. Whether that's due to the lower unrounded number, a sigh of relief inflation wasn't higher or randomness in a holiday market is a fair debate.In particular, USD/JPY fell. That could reflect fears of intervention from the Japanese ministry of finance, which has been issuing stern warnings after the recent round of yen weakness.It's a holiday and appears to be quiet in markets but the day certainly isn't done. We get speeches from the Fed's Daly at 11:15 am ET and Fed Chair Powell at 11:30 am ET via a moderated discussion at the San Francisco Fed. This article was written by Adam Button at www.forexlive.com.

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  • Weekly Market Recap (25-29 March)

    Mar 29, 2024 | 05:58 am

    MondayFed’s Bostic (hawk – voter) late Friday said that he changed his view and now expects just one rate cuts this year vs. two previously:Economy has proved more resilient than anticipated so much so that he's doubled his expected GDP growth estimate to 2%.Sees little or no change in the current 3.9% unemployment rate.Says 3.9% unemployment was considered an inflationary level not too long ago.Says inflation is falling but more slowly than anticipated, with many items recording outsized price increases.If we have an economy that is growing above potential, and we have an economy where unemployment is at levels that were deemed to be unimaginable without pricing pressures, and if we have an economy where inflation is moderating…those are good things…That gives us space for patience.ECB’s Panetta (dove – voter) just reiterated that there’s a consensus for a rate cut, which is expected in June:There is growing consensus on a possible rate cut.Inflation is quickly falling towards the 2% target.ECB’s Lane (dove – voter) just reaffirmed the central bank’s focus on wage growth and that they want it to return to normal levels to reverse the monetary policy:We're confident that wage growth is returning to normal.It is desirable, inescapable that we do have several years of wage increases above normal.But what we need to make sure is that it returns to normal.And I would say we're confident that it is on track.If that assessment is confirmed, we can start to look to reverse the rate hikes we have made previously.Fed’s Goolsbee (dove – non voter) reaffirmed his expectation for three rate cuts this year but he would like to see more progress on inflation:Expects three rate cuts this year.Asked if June is on the table, said everything is on the table but depends on data.We are in historic restrictive territory.Latest reports do not change the overall picture on inflation.Says in a bit of a murky picture on inflation.Wants to see more progress on inflation.Main puzzle is about housing inflation.Fed’s Cook (dove – voter) supports careful easing of the monetary policy as inflation moves towards target to preserve labour market strength:Path of disinflation has been bumpy and uneven, as expected.Careful approach to easing policy over time can ensure inflation returns sustainably to 2% while striving to maintain a strong labour market.Employment and inflation goals moving into better balance.Inflation has fallen considerably; labour market has remained strong.Wage growth differential between job switchers and those staying in jobs has narrowed.Strong productivity growth could mean faster pace of wage growth that's not inflationary.Not sure if neutral rate is higher or not.We'll only know if neutral rate is higher after-the-fact.It will be left to Congress, fiscal authority, to address impact of AI on workers and wages.End of negative rates in Japan will be studied for its impacts, as are other overseas policy developments.TuesdayBoE’s Mann (hawk – voter) explained her reasoning for moving away from rate hikes but cautioned against the aggressive market pricing:It was time to move away from a rate hike.Discretionary services inflation has started to soften in the past month.The change of voting intention is due to consumers disciplining firms pricing, thus changing dynamic in labour markets and also the financial market curve.Markets are pricing in too many rate cuts.In February, I thought markets were easing too much.There is complacency about how long the BoE will hold rates.In some ways, the BoE does not have to cut because the market already has done so.The market curve in the UK is also importantly affected by the decisions of the ECB and Fed.ECB’s Muller (hawk – non voter in April) reaffirmed the central bank’s intention to deliver the first rate cut in June:We are closer to the point to start cutting rates.Data may confirm inflation trend going into June meeting.The US February Durable Goods Orders beat expectations across the board:Durable goods orders M/M 1.4% vs. 1.1% expected and -6.9% prior (revised from -6.2%.Non-defense capital goods orders ex-air M/M 0.7% vs. 0.1% expected and -0.4% prior (revised from 0.0%).Ex transport M/M 0.5% vs. 0.4% expected.Ex defense M/M 2.2% vs. -7.9% prior.Shipments M/M 1.2% vs. -0.8% prior.The US March Consumer Confidence missed expectations although the labour market data improved:Consumer Confidence 104.7 vs. 107.0 expected and 104.8 prior (revised from 106.7).Present situation index 151.0 vs. 147.6 prior.Expectations index 73.8 vs. 76.3 prior.Jobs hard-to-get 10.9 vs. 12.7 prior.16.5% of consumers expect their incomes to increase, from 16.3% last month.12-month inflation 5.3% vs. 5.2%.WednesdayThe Australian February Monthly CPI missed expectations slightly although the Trimmed Mean measure ticked higher:CPI Y/Y 3.4% vs. 3.5% expected and 3.4% prior.CPI M/M 0.5% vs. 0.4% prior.CPI Trimmed Mean Y/Y 3.9% vs. 3.8% prior.BoJ’s Tamura said that the current monetary policy is likely to remain in place for the time being:Based on current economic, price outlook, BoJ likely to maintain accommodative monetary conditions for time being.Will guide monetary policy appropriately in accordance with economic, price, financial developments.Not there yet to allow market forces to fully drive long-term interest rate moves.Despite our tweak to monetary policy framework, there are side-effects remaining.Our monetary easing had some effect in underpinning economic growth.Japan's economy is showing some signs of weakness but is recovering moderately.Rises in services prices pushing up overall inflation.Positive wage-inflation cycle is likely to continue.Will not comment on specific FX moves.Impact of FX moves on the economy can vary.Can't say with certainty how much BoJ will raise rates further.On scrapping yield curve control policy, "our understanding was that there was no longer a need to aggressively intervene in the bond market as we had done in the past".BoJ Ueda didn’t add anything new on the monetary policy front:Household sentiment improving on expectations of wage hikes.Won't rule out any options if economic, price developments worsen.FX moves have big impact on economy, prices.But won't comment on specific FX moves, levels.It may take some time but likelihood of achieving price target is high.That considering the current short-term rate level, at 0% to 0.10%, is very low.At some point in the future, we would like to gradually reduce balance of our JGB[…]

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  • EUR/USD holds steady as Core PCE meets expectations

    Mar 29, 2024 | 05:57 am

    The EUR/USD remains barely unchanged on thin trading after the US Bureau of Economic Analysis (BEA) revealed the Federal Reserve’s preferred gauge for inflation, the Core Personal Consumption Expenditure (PCE) price index for February was aligned with estimates.

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  • Breaking: US Core PCE inflation down to 2.8% after January figure suffers an upward revision

    Mar 29, 2024 | 05:44 am

    The core Personal Consumption Expenditures (PCE) Price Index, the US Federal Reserve’s (Fed) preferred inflation measure, will be published on Friday by the US Bureau of Economic Analysis (BEA) at 12:30 GMT.

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  • US February wholesale inventories +0.5% vs -0.3% prior

    Mar 29, 2024 | 05:36 am

    Prior was -0.3% (revised to -0.2%)Retail inventories ex autos +0.4% vs +0.3% priorInventories down 1.6% from February 2023This is a lower-tier indicator but it feeds into GDP and the read-through is for a hotter Q1. This article was written by Adam Button at www.forexlive.com.

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  • US February advance goods trade balance -91.84B vs -90.51B prior

    Mar 29, 2024 | 05:34 am

    Prior was -90.2B Exports of goods for February were $175.1 billion, $4.8 billion more than January exports. Imports of goods for February were $266.9 billion, $6.1 billion more than January imports. Rising trade in general is a good sign for the US economy. This article was written by Adam Button at www.forexlive.com.

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  • EUR/GBP Price Analysis: Bearish sentiment prevails, daily and hourly trends lean negative

    Mar 29, 2024 | 05:32 am

    The EUR/GBP pair is currently trading at 0.8550, with minor losses on Friday’s session.

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  • United States Wholesale Inventories: 0.5% (February) vs -0.3%

    Mar 29, 2024 | 05:30 am

    United States Wholesale Inventories: 0.5% (February) vs -0.3%

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  • United States Personal Income (MoM) below forecasts (0.4%) in February: Actual (0.3%)

    Mar 29, 2024 | 05:30 am

    United States Personal Income (MoM) below forecasts (0.4%) in February: Actual (0.3%)

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  • United States Personal Spending came in at 0.8%, above expectations (0.5%) in February

    Mar 29, 2024 | 05:30 am

    United States Personal Spending came in at 0.8%, above expectations (0.5%) in February

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  • United States Personal Consumption Expenditures - Price Index (YoY) in line with forecasts (2.5%) in January

    Mar 29, 2024 | 05:30 am

    United States Personal Consumption Expenditures - Price Index (YoY) in line with forecasts (2.5%) in January

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  • United States Core Personal Consumption Expenditures - Price Index (YoY) meets forecasts (2.8%) in February

    Mar 29, 2024 | 05:30 am

    United States Core Personal Consumption Expenditures - Price Index (YoY) meets forecasts (2.8%) in February

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  • US February PCE core inflation +2.8% y/y vs +2.8% expected

    Mar 29, 2024 | 05:30 am

    Prior month 2.8% (revised to 2.9%)PCE core m/m +0.3% vs +0.3% expected (unrounded +0.261%)Prior m/m core +0.4% (revised to +0.5%)Headline PCE +2.5% y/y vs +2.5% expected (prior 2.4%). Headline m/m +0.3% vs +0.4% expected (unrounded +0.333%)6 month core annualized 2.9% vs 2.6% priorFull reportConsumer spending and consumer income for February:Personal income +0.3% versus +0.4% expected. Prior month 0.3%.Personal spending +0.8% versus +0.5% expected. Prior month +0.2%Real personal spending +0.4% vs -0.1% last month (revised to -0.2%)The revisions to the January data are a touch higher but it didn't bump up the Feb y/y numbers.Overall, it's a tad hot but the dollar is a tad softer, perhaps focusing on the lower headline m/m reading.Looking deeper at spending, goods rose 0.5% with services up 0.9%. On the inflation side, goods prices were down 0.2% y/y while services prices rose 3.8% y/y. This article was written by Adam Button at www.forexlive.com.

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  • United States Personal Consumption Expenditures - Price Index (MoM) registered at 0.3%, below expectations (0.4%) in February

    Mar 29, 2024 | 05:30 am

    United States Personal Consumption Expenditures - Price Index (MoM) registered at 0.3%, below expectations (0.4%) in February

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  • AUD/USD steady amid global market holiday. Awaits US PCE data

    Mar 29, 2024 | 05:28 am

    The Aussie Dollar remains subdued against the US Dollar on Friday due to thin liquidity conditions in the observance of Good Friday.

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  • It's a rare PCE report into a holiday-thinned market

    Mar 29, 2024 | 05:18 am

    It's Good Friday and that means that equities, bonds and futures are closed. Of course, the FX market isn't but it's thinned out in a big way, which means the PCE report at the bottom of the hour will land in a strange place.It's an important report and could help to confirm or push-back on the sticky inflation thesis. Fed officials will certainly be taking this one into a account. Also note this comment from Powell at the most-recent FOMC: "I want to start by being, saying, I always try to be careful about dismissing data that we don't like. So, you need to check yourself on that and I'll do that, but so I would say the January number, which was very high, the January CPI and PCE numbers were quite high, there's reason to think that there could be seasonal affects there. But nonetheless, we don't want to be completely dismissive of it. The February number was high, higher than expectations, but we have it at currently well below 30 basis points core PCE, which is not terribly high. So it's not like the January number. But I take the two of them together and I think they haven't really changed the overall story which is that of inflation moving down gradually on a sometimes-bumpy road toward two percent. I don't think that story has changed."The consensus on Core PCE today is +0.3%. This article was written by Adam Button at www.forexlive.com.

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  • Pound Sterling is currently consolidating, hovering around the 1.2631 mark

    Mar 29, 2024 | 05:13 am

    Cable remains in extended sideways mode, with a narrow range on holiday-thinned markets on Good Friday.

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  • ForexLive European FX news wrap: Currencies subdued on Good Friday

    Mar 29, 2024 | 05:03 am

    Headlines:Easter break subdues markets ahead of the weekendCentral bank rate cut odds.. How have they changed in Q1?France March preliminary CPI +2.3% vs +2.6% y/ y expectedItaly March preliminary CPI +1.3% vs +1.4% y/y expectedTaiwan navy chief reportedly to visit US next weekIt was a rather dead session as markets are out of it amid the Easter holiday weekend. The FX snapshot shows how uninspiring things are, with nothing to with really. That being said, US markets will be open later and that might see the lighter action pick up.There is the US PCE price index release before Fed chair Powell's speech later in the day. Will that help traders make up their minds on a June rate cut? We'll see. Otherwise, it's going to be a rather enervated end to the trading week.Have a great weekend, everyone. :) This article was written by Justin Low at www.forexlive.com.

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  • US Dollar clings to gains ahead of PCE inflation in thin-trading day

    Mar 29, 2024 | 05:00 am

    The US Dollar (USD) never sleeps and that proverb certainly applies to this Friday. The Greenback holds onto recent gains on Good Friday, a bank holiday during which European and US trading desks will be running at minimum capacity. This

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  • India Infrastructure Output (YoY) climbed from previous 3.6% to 6.7% in February

    Mar 29, 2024 | 05:00 am

    India Infrastructure Output (YoY) climbed from previous 3.6% to 6.7% in February

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  • India FX Reserves, USD rose from previous $642.49B to $642.63B in March 18

    Mar 29, 2024 | 04:35 am

    India FX Reserves, USD rose from previous $642.49B to $642.63B in March 18

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  • India Trade Deficit – RBI declined to -71.6B in 4Q from previous -61B

    Mar 29, 2024 | 04:30 am

    India Trade Deficit – RBI declined to -71.6B in 4Q from previous -61B

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  • India Balance Payment $ up to $6B in 4Q from previous $2.5B

    Mar 29, 2024 | 04:30 am

    India Balance Payment $ up to $6B in 4Q from previous $2.5B

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  • Italy March preliminary CPI +1.3% vs +1.4% y/y expected

    Mar 29, 2024 | 03:04 am

    Prior +0.8%HICP +1.3% vs +1.5% y/y expectedPrior +0.8%Istat notes that the slight acceleration in inflation this month was partly caused by an easing in the recent trend of declining prices for energy goods. Meanwhile, core annual inflation is seen at 2.5% - marginally lower from 2.6% in February. This article was written by Justin Low at www.forexlive.com.

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  • India Federal Fiscal Deficit, INR increased to 15013.65B in February from previous 11026.02B

    Mar 29, 2024 | 03:01 am

    India Federal Fiscal Deficit, INR increased to 15013.65B in February from previous 11026.02B

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  • Greece Producer Price Index (YoY) climbed from previous -7% to -4.3% in February

    Mar 29, 2024 | 03:01 am

    Greece Producer Price Index (YoY) climbed from previous -7% to -4.3% in February

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  • Greece Retail Sales (YoY) dipped from previous 0.7% to -8.9% in January

    Mar 29, 2024 | 03:01 am

    Greece Retail Sales (YoY) dipped from previous 0.7% to -8.9% in January

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  • Italy Consumer Price Index (MoM) registered at 0.1%, below expectations (0.2%) in March

    Mar 29, 2024 | 03:00 am

    Italy Consumer Price Index (MoM) registered at 0.1%, below expectations (0.2%) in March

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  • Italy Consumer Price Index (EU Norm) (YoY) registered at 1.3%, below expectations (1.5%) in March

    Mar 29, 2024 | 03:00 am

    Italy Consumer Price Index (EU Norm) (YoY) registered at 1.3%, below expectations (1.5%) in March

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  • Italy Consumer Price Index (YoY) came in at 1.3%, below expectations (1.4%) in March

    Mar 29, 2024 | 03:00 am

    Italy Consumer Price Index (YoY) came in at 1.3%, below expectations (1.4%) in March

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  • Italy Consumer Price Index (EU Norm) (MoM) came in at 1.2%, below expectations (1.4%) in March

    Mar 29, 2024 | 03:00 am

    Italy Consumer Price Index (EU Norm) (MoM) came in at 1.2%, below expectations (1.4%) in March

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  • USD/JPY set to end the week on a flat note after Tokyo warnings, what's next?

    Mar 29, 2024 | 02:55 am

    The pressure is most definitely on for the Japanese yen as the Easter break approaches. The barrage of verbal interventions by Tokyo officials have helped to stem the bleeding in trading this week. But is merely just a band aid at this point in time?The BOJ took a big step in putting an end to negative rates and scrapping its yield curve control policy this month. That being said, one can argue that they should have already started that process some time last year already. I mean, even they themselves are finding that the inflation trend in Japan is perhaps turning now.Taking that into consideration, it will make it tougher to justify any further normalisation steps. They are very much in a race against the clock, despite all the recent positive wage developments.From a technical standpoint, traders were also cautious and took profit when USD/JPY tested the 2022 and 2023 highs as seen above. The 151.90-94 region remains a key technical ceiling for price now as we settle down ahead of the weekend break.So, what's next for USD/JPY?If you look at the psychological perspective, traders are definitely being more wary and cautious now after the many warnings by Tokyo. But if the BOJ faces an uphill task to normalise policy further while the Fed may still have a 50-50 chance of not acting in June, there is an argument for USD/JPY to move up further as the pressure keeps up.As we have seen in trading this week, this is a market that is very much driven by big data. I mean, the lack of releases this week shows how languid price action can be. This makes the US jobs report on Friday next week an even more critical factor for USD/JPY right now.The tricky part is identifying when Tokyo might step in to intervene, if need be. Times of lesser liquidity are mostly preferred and the Easter break does present such an opportunity. However, traders are not really giving Japanese officials much of a sniff at the moment. USD/JPY has backed away slightly from the above high points, but is still looking poised.That could see traders look to slowly push the same threshold again when we get to trading next week, all else being equal. But in doing so, the risk now is that we're getting closer and closer to the point where Tokyo might say enough is enough.As much as Japanese officials want to fight the uptrend, they also have to be realistic. Unless USD/JPY oversteps by surging to 153 to 154 before the US jobs report, they might want to wait until Friday before acting. And if there is reason to, I reckon they might actually do so in the late stages of the day.For now, buyers can take heart in the fact that the pair is set to close flat this week. There is some consolidation now around 151.15 to 151.50 over the last two days. Meanwhile, key near-term levels are also starting to build closer with the 200-hour moving average at 151.28 currently. Keep above that and buyers will stay poised going into next week. This article was written by Justin Low at www.forexlive.com.

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  • EUR/USD declines to near 1.0770 as ECB officials hint at a potential rate cut in June

    Mar 29, 2024 | 01:56 am

    EUR/USD maintains its position around 1.0770 during the European session on Friday, extending losses for the fourth consecutive day.

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  • Central bank rate cut odds.. How have they changed in Q1?

    Mar 29, 2024 | 01:40 am

    Towards the end of last year, it was a case of traders being overly aggressive in pricing in rate cuts. And in the first two months of this year, we saw that pricing course correct a fair bit. But where does that leave us now? The SNB has already surprised with action and there are perhaps rate cuts coming in Q2. So, let's take stock of the situation.Here was how things looked like at the end of December, in terms of what is priced in for the whole of 2024:Federal Reserve: -156 bps (first -25 bps in March)European Central Bank: -161 bps (first -25 bps in April)Bank of England: -141 bps (first -25 bps in May)Swiss National Bank: -66 bps (first -25 bps in June)Bank of Canada: -120 bps (first -25 bps in April)Reserve Bank of Australia: -53 bps (first -25 bps in June)Reserve Bank of New Zealand: -93 bps (first -25 bps in May)And this is how things are playing out right now:Federal Reserve: -58 bps (first -25 bps in July)European Central Bank: -89 bps (first full -25 bps in July, although June is 96% priced in)Bank of England: -70 bps (first -25 bps in August)Swiss National Bank: -45 bps (second -25 bps in September)Bank of Canada: -69 bps (first -25 bps in July)Reserve Bank of Australia: -38 bps (first full -25 bps in November, although September is 97% priced in)Reserve Bank of New Zealand: -74 bps (first -25 bps in August)Those are definitely considerable shifts in pricing when compared to the end of last year. But during the course of the first three months, they might've been hardly felt. That especially if you're looking at risk trades and stocks.The dollar is one of the beneficiaries though, especially in March. That considering US economic developments might warrant the Fed to hold rates higher for longer compared to most other major economies. The odds of a June move for the Fed are only roughly 68% now. If anything, it speaks to the uncertainty in play as opposed to market pricing for the ECB.In that lieu, we could be starting to see some diverging trade opportunities from hereon. The SNB has already kick started the race to cut rates. And we're already seeing what that is doing to the Swiss franc. So, the winning currency now will be the one whose central bank will be most resistant in conforming to the above rate cut expectations. This article was written by Justin Low at www.forexlive.com.

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  • Gold Price Forecast: XAU/USD reaches to all-time highs near $2,230, US PCE eyed

    Mar 29, 2024 | 01:17 am

    Gold price appreciates to all-time highs near $2,230 per troy ounce, attempting to continue its winning streak for the fifth successive session on Friday.

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  • France Consumer Price Index (EU norm) (MoM) below forecasts (0.7%) in March: Actual (0.3%)

    Mar 29, 2024 | 00:46 am

    France Consumer Price Index (EU norm) (MoM) below forecasts (0.7%) in March: Actual (0.3%)

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  • France Consumer Price Index (EU norm) (YoY) registered at 2.4%, below expectations (2.8%) in March

    Mar 29, 2024 | 00:45 am

    France Consumer Price Index (EU norm) (YoY) registered at 2.4%, below expectations (2.8%) in March

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  • France Producer Prices (MoM) down to -1.7% in February from previous -1.3%

    Mar 29, 2024 | 00:45 am

    France Producer Prices (MoM) down to -1.7% in February from previous -1.3%

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  • France Consumer Spending (MoM) below expectations (0.2%) in February: Actual (0%)

    Mar 29, 2024 | 00:45 am

    France Consumer Spending (MoM) below expectations (0.2%) in February: Actual (0%)

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  • France March preliminary CPI +2.3% vs +2.6% y/ y expected

    Mar 29, 2024 | 00:45 am

    Prior +3.0%HICP +2.4% vs +2.8% y/y expectedPrior +3.2%The drop is definitely encouraging and reaffirms that the ECB is well on track to cut rates this June. Looking at the details, food price inflation fell from 3.6% in February to 1.7% in March. Meanwhile, services inflation also eased a bit more from 3.2% in the last month to 3.0% this month. This article was written by Justin Low at www.forexlive.com.

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  • Easter break subdues markets ahead of the weekend

    Mar 28, 2024 | 21:53 pm

    It is shaping up to be a quiet one as we look towards the session ahead today. That is to be expected though as the Easter bunny is here to visit. Major currencies are subdued with little to work with in general for the time being. US markets will be open though, and that will draw in most of the focus before the weekend.As we look towards Monday though, just be wary of USD/JPY in case of anything else. I reckon if the pair survives the thinner liquidity stretch in the coming sessions, traders might find reason to retest the 2022 and 2023 highs again in the week ahead.To those observing the holiday, have a good break and enjoy the long weekend! This article was written by Justin Low at www.forexlive.com.

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  • Taiwan navy chief reportedly to visit US next week

    Mar 28, 2024 | 21:43 pm

    Reuters is reporting that Taiwan's navy chief, Tang Hua, will be in the US next week to attend a military ceremony. And also to discuss boosting bilateral naval cooperation amid the threats from China.The sources say that Tang will be visiting Hawaii first for a Pacific Fleet change-of-command ceremony. After which, he will attending a conference in Washington from 8 to 10 April. There, he is expected to meet with US chief of naval operations, Lisa Franchetti.These sorts of trips are usually not publicised, as they are rather sensitive given the nature of the operation. And this especially since the US and Taiwan dose not have an official military relationship. But over the last few years, we have seen both sides step up their cooperation on this front.And as you would expect, the developments have not gone down well with China - which have stepped up their aggression on the Taiwan Strait over the last few months. This article was written by Justin Low at www.forexlive.com.

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

    Mar 28, 2024 | 01:25 am

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

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  • 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

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  • ECB Maintains Interest Rates, Revises Lower Inflation Forecast

    Mar 7, 2024 | 14:06 pm

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

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

    Mar 6, 2024 | 23:41 pm

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

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  • 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

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  • 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

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