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EUR/USD recovers after US economic myth dented

Apr 24, 2024 | 01:20 am

EUR/USD trades just shy of 1.0700 on Wednesday after weaker-than-expected private sector growth and US business activity dent the myth of US economic exceptionalism, weighing on the US Dollar (USD).

NZD/USD Price Analysis: Could break into the symmetrical triangle, rises to near 0.5950

Apr 24, 2024 | 01:20 am

NZD/USD advances for the third consecutive session on Wednesday, trading around 0.5940 during the European session.

Pound Sterling holds strength on improved UK economic outlook

Apr 24, 2024 | 01:17 am

The Pound Sterling (GBP) turns sideways at around 1.2450 against the US Dollar (USD) in Wednesday’s European session after bouncing back strongly from a five-month low at around 1.2300 earlier in the week.

India Gold price today: Gold recovers, according to MCX data

Apr 24, 2024 | 01:07 am

Gold prices rose in India on Wednesday, according to data from India's Multi Commodity Exchange (MCX).

Italy Business Confidence below expectations (89.5) in April: Actual (87.6)

Apr 24, 2024 | 01:02 am

Italy Business Confidence below expectations (89.5) in April: Actual (87.6)

Germany IFO – Current Assessment above expectations (88.7) in April: Actual (88.9)

Apr 24, 2024 | 01:01 am

Germany IFO – Current Assessment above expectations (88.7) in April: Actual (88.9)

Switzerland ZEW Survey – Expectations: 17.6 (April) vs 11.5

Apr 24, 2024 | 01:01 am

Switzerland ZEW Survey – Expectations: 17.6 (April) vs 11.5

Germany IFO – Expectations registered at 89.9 above expectations (88.9) in April

Apr 24, 2024 | 01:01 am

Germany IFO – Expectations registered at 89.9 above expectations (88.9) in April

Italy Consumer Confidence below expectations (96.9) in April: Actual (95.2)

Apr 24, 2024 | 01:01 am

Italy Consumer Confidence below expectations (96.9) in April: Actual (95.2)

Germany IFO – Business Climate came in at 89.4, above forecasts (88.9) in April

Apr 24, 2024 | 01:00 am

Germany IFO – Business Climate came in at 89.4, above forecasts (88.9) in April

Switzerland April UBS investor sentiment 17.6 vs 11.5 prior

Apr 24, 2024 | 01:00 am

Prior 11.5Swiss investor sentiment picks up further in April with analysts also anticipating more SNB rate cuts than they had in January. The current conditions index also improved from 11.1 in March to 17.7 this month. This article was written by Justin Low at www.forexlive.com.

Germany April Ifo business climate index 89.4 vs 88.8 expected

Apr 24, 2024 | 01:00 am

Prior 87.8; revised to 87.9Current conditions 88.9 vs 88.7 expectedPrior 88.1; revised to Expectations 89.9 vs 88.7 expectedPrior 87.5; revised to 87.7It is beats across the board, reaffirming some improvement in German business morale at least. Both current conditions and expectations also picked up, solidifying better sentiment in April. This doesn't do much to change the overall outlook for the German economy though, at least not yet. As for the ECB, a June rate cut is still more or less a given regardless. This article was written by Justin Low at www.forexlive.com.

Dead cat bounce or new high? [Video]

Apr 24, 2024 | 00:56 am

The 2 telltale signs to anticipate and confirm the current correction How to confirm the technical rebound and the target for the S&P 500 Why this market correction is different from Aug-Oct 2023? The 2 key levels in the S&P 500 you must be aware of.

Johnson and Johnson (JNJ) Elliott Wave technical analysis [Video]

Apr 24, 2024 | 00:55 am

JNJ Elliott Wave Analysis Trading Lounge Daily Chart. Johnson & Johnson, (JNJ) Daily Chart.

Indonesia Bank Indonesia Rate above forecasts (6%): Actual (6.25%)

Apr 24, 2024 | 00:34 am

Indonesia Bank Indonesia Rate above forecasts (6%): Actual (6.25%)

Australian Dollar appreciates on improved risk appetite amid firmer US Dollar

Apr 24, 2024 | 00:31 am

The Australian Dollar (AUD) extends its winning streak for the third successive day after the release of the better-than-expected Consumer Price Index (CPI) data on Wednesday.

Japan senior lawmaker says yen slide towards 160 could prod action

Apr 24, 2024 | 00:28 am

The comment is from Takao Ochi of the ruling Liberal Democratic Party, a senior member of the Lower House Financial Affairs Committee. Adding that the ruling party itself is not yet in active discussion on what yen levels would be deemed as worth intervening.However, Ochi says that a move in USD/JPY towards 160 (or 170) could prod action from policymakers as they would deem that as being "excessive". This article was written by Justin Low at www.forexlive.com.

Gold price flat lines above $2,300 mark, looks to US macro data for fresh impetus

Apr 24, 2024 | 00:28 am

Gold price (XAU/USD) struggles to capitalize on the previous day's bounce from over a two-week low – levels just below the $2,300 mark – and oscillates in a narrow range during the Asian session on Wednesday.

AUD/JPY extends winning streak following positive Australian Consumer Inflation data

Apr 24, 2024 | 00:25 am

AUD/JPY gains ground for the third successive day after paring intraday losses on Wednesday. Additionally, the Australian Bureau of Statistics (ABS) released the better-than-expected Consumer Price Index (CPI) data on Wednesday.

ECB’s Nagel: June rate cut not necessarily followed up by a series of rate cuts

Apr 24, 2024 | 00:23 am

European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel said on Wednesday that a June interest rate cut may not be necessarily followed up by a series of rate cuts.

USD/CHF holds steady around the 0.9150, in line with six-month highs

Apr 24, 2024 | 00:16 am

USD/CHF hovers near 0.9140 during early European trading hours on Wednesday, maintaining its position close to the six-month high of 0.9152 reached on April 15.

European indices hold slightly higher to kick start the session

Apr 24, 2024 | 00:06 am

Eurostoxx +0.1%Germany DAX +0.2%France CAC 40 flatUK FTSE +0.4%Spain IBEX flatItaly FTSE MIB +0.5%US futures have also seen gains cool a little, with S&P 500 futures now up by 15 points or 0.3%. So far, risk trades are holding up for the most part but broader markets are keeping a close watch on USD/JPY instead at the moment. This article was written by Justin Low at www.forexlive.com.

Japanese Yen refreshes multi-decade low against USD, around 155.00 pivotal level

Apr 24, 2024 | 00:04 am

The Japanese Yen (JPY) continues with its struggle to register any meaningful recovery and languishes near a multi-decade low against its American counterpart during the Asian session on Wednesday.

Forex Today: US Dollar consolidates losses ahead of mid-tier data

Apr 23, 2024 | 23:56 pm

Here is what you need to know on Wednesday, April 24: After weakening against its major rivals in the American session on Tuesday, the US Dollar (USD) seems to have stabilized in the European morning on Wednesday.

FX traders have got their popcorn bags out

Apr 23, 2024 | 23:54 pm

Will Japan intervene or won't they? It's definitely not ideal as we look towards European trading, where liquidity conditions will start to pick up. And even more so when US traders come into the fray later. Officials might be thinking to wait for the BOJ to send a message on Friday but that is still at least two days away.For now, all other major currencies aren't doing much and traders are likely to sit on their hands in watching what happens next with USD/JPY before reacting to anything. The aussie is still up slightly from earlier, but AUD/USD remains capped for now as seen here.It definitely takes a lot of guts to be in any yen trade at the moment and I wish you the best of luck if you're taking that on. Personally, intervention risk is something a little too much for my liking so I'd stay sidelined. And I'm sure the majority will be watching as well to see what happens next.I reckon we might slowly see price creep a little higher until touching 155.00 in the hours ahead. There might be profit-taking as well when we get to the figure level but if there is any overshoot, that could be the event that invites Japan to step in. But we'll see. This article was written by Justin Low at www.forexlive.com.

USD/INR rebounds amid firmer US Dollar, hawkish Fed stance

Apr 23, 2024 | 23:54 pm

Indian Rupee (INR) is losing its recovery momentum on Wednesday amid US Dollar (USD) demand from importers and bets that US Federal Reserve (Fed) rate cuts are not imminent.

Silver Price Forecast: XAG/USD remains on the defensive below $27.50 on easing Middle East tensions

Apr 23, 2024 | 23:42 pm

Silver price (XAG/USD) trades on a softer note near $27.30 during the early European session on Wednesday.

FTSE 100 edges off latest record

Apr 23, 2024 | 23:35 pm

Global stock markets continued their recovery on Tuesday, with US tech stocks making firm gains ahead of Tesla’s earnings tonight, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

USD/JPY but a whisker away from the pivotal 155 mark

Apr 23, 2024 | 23:26 pm

The pair is up to a high of 154.94 and is holding thereabouts ahead of European trading. Japanese officials are surely keeping a close watch on this and you should too. This might end up stealing the show today with Icarus flying too close to the sun being the main headline. This article was written by Justin Low at www.forexlive.com.

Eurostoxx futures +0.5% in early European trading

Apr 23, 2024 | 23:04 pm

German DAX futures +0.5%UK FTSE futures +0.6%This mirrors the mood in US futures as well, with S&P 500 futures now up 0.4%. It follows from the more solid gains in trading yesterday as risk trades light up after the softer US PMI data. This article was written by Justin Low at www.forexlive.com.

FX option expiries for Apr 24 NY cut

Apr 23, 2024 | 22:51 pm

FX option expiries for Apr 24 NY cut at 10:00 Eastern Time, via DTCC, can be found below - EUR/USD: EUR amounts 1.0550 565m 1.0575 400m 1.0600 440m 1.0610 1.1b 1.0650 1.1b 1.0700 2.3b 1.0705 645m 1.0725 860m - GBP/USD: GBP amounts 1.2450 613m - USD/JPY: USD amounts 153.00 452m 153.50 1.5b 154.00 902m 155.40 1b - USD/CHF: USD amounts 0.9150 765m - AUD/USD: AUD amounts 0.6325 500m 0.6400 472m 0.65425 335m - USD/CAD: USD amounts 1.3600 600m 1.3650 625m 1.3680 914m - EUR/GBP: EUR amounts 0.8600 351m .

Pound Sterling tests the major level of 1.2450

Apr 23, 2024 | 22:27 pm

GBP/USD has been on the rise for the second consecutive day, trading around 1.2450 in Asian trading on Wednesday.

Pakistan Gold price today: Gold falls, according to FXStreet data

Apr 23, 2024 | 22:24 pm

Gold prices fell in Pakistan on Wednesday, according to data compiled by FXStreet.

EUR/USD Price Analysis: The first upside target is seen at the 1.0710–1.0715 region

Apr 23, 2024 | 22:20 pm

The EUR/USD pair trades in positive territory for the fourth consecutive day near 1.0705 on Wednesday during the early European trading hours.

GBP/USD Price Analysis: Rises to near 1.2450 despite the bearish sentiment

Apr 23, 2024 | 22:10 pm

GBP/USD has been on the rise for the second consecutive day, trading around 1.2450 in Asian trading on Wednesday.

WTI flat lines around $83.25 area, downside seems limited amid positive demand outlook

Apr 23, 2024 | 22:10 pm

West Texas Intermediate (WTI) US crude Oil prices struggle to build on the overnight bounce from the 50-day Simple Moving Average (SMA) support near the $80.75 area and oscillate in a range during the Asian session on Wednesday.

German Ifo business survey the highlight of the agenda in Europe today

Apr 23, 2024 | 22:09 pm

The softer US PMI data from yesterday is still reverberating but also a much improved risk mood. Geopolitical fears have subsided since the weekend and that is helping to see stocks bounce back quite nicely to start the week. In turn, risk currencies are picking up on that with the aussie also helped by hotter inflation numbers earlier.As seen here, AUD/USD has moved up to test a key technical level on the day. The pair is still up 0.5% to 0.6515 as it keeps near the highs.So, what's next for markets in general?As we look to put behind us the whole Israel-Iran episode, the focus shifts back to US data. Equities will look to that to keep the momentum from this week, with S&P 500 futures up another 0.35% currently. But we might have to wait until tomorrow at least, with the US advanced Q1 GDP figures on the cards. Then on Friday, there is the US PCE price index to get through. As a reminder, that is the Fed's preferred measure of inflation so it is one to watch.For today, it's all about digesting the PMI data from yesterday and sticking with the overall risk mood. The dollar is ceding some ground but we'll see if that turns into anything bigger after the gains earlier this month. If anything else, do keep an eye on USD/JPY as well as the pair remains very much underpinned at 154.85 currently.In terms of data releases in Europe, the German Ifo business survey for April is the main one to watch. But in all likelihood, the releases today won't do much to shake things up.0800 GMT - Germany April Ifo business climate index0800 GMT - Switzerland April UBS investor sentiment1000 GMT - UK April CBI trends total orders1100 GMT - US MBA mortgage applications w.e. 19 AprilThat's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there. This article was written by Justin Low at www.forexlive.com.

Westpac Banking Corporation Elliott Wave technical forecast [Video]

Apr 23, 2024 | 21:49 pm

ASX: WESTPAC BANKING CORPORATION – WBC Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with WESTPAC BANKING CORPORATION - WBC.

Aussie bounce runs into key level on the chart, what's next?

Apr 23, 2024 | 21:33 pm

After the softer US PMI data yesterday, it is keeping the Fed outlook more interesting. The dollar fell as traders might have to consider at least one rate cut for the year. But in the case of the aussie, it doesn't seem like rate cuts might be on the table for this year. That especially as inflation data remains rather sticky as seen here.The trimmed mean reading is the most pivotal one and that is seen at 4.0%. Yes, it is down from 4.2% previously but still not enough to convince of a significant disinflation trend. At least not one that would compel the RBA to act any time soon.AUD/USD has seen a decent bounce today as such, with the pair touching a high of 0.6530 earlier. That sees it run into a test of its 200-day moving average (blue line):And that is holding back gains for now, alongside the 61.8 Fib retracement level (red) at around 0.6536. After which, there is the 100-day moving average (red line) offering the next key resistance level but that is only seen at 0.6585 currently.So, what's next for the pair?What was previously a divergence trade between the dollar and the rest of the major currencies bloc has now changed. That particular divergent factor has closed with the RBA also perhaps being one of the later - if not the latest - central banks to cut rates. And that's a boon for the aussie, especially now as it coincides with a pick up in risk.It will now come down to what the next set of US data has to offer, in particular the inflation numbers. And we won't have to wait too long as there is the PCE price index due on Friday this week.That might offer a key trigger point for traders to work with before the weekend comes along. This article was written by Justin Low at www.forexlive.com.

ForexLive Asia-Pacific FX news wrap: Higher than expected Australian CPI data, AUD up

Apr 23, 2024 | 20:47 pm

Why the stronger yuan might prompt a PBOC rate cutEuropean Central Bank speakers Wednesday include SchnabelAustralia- inflation a bit higher than expected, RBA on hold4 reasons why the RBA may be the last major central bank to cut ratesAUD/USD jumped above 0.6500 on higher than forecast inflation data for Q1 of 2024Australian Q1 CPI +1.0% q/q (expected 0.8%) 3.6% y/y (expected 3.4%)US Senate passes US$95bn aid bill for Ukraine, Israel, TaiwanPBOC sets USD/ CNY mid-point today at 7.1048 (vs. estimate at 7.2363)Under half of analysts expect a BoE rate cut in JuneAbout 70% of companies in Japan will implement pay-scale increases in fiscal 2024Bank of Japan meeting this week - previewTrump advisers are planning US dollar devaluation if he gets electedJapan data - March Services PPI 2.3% y/y (prior +2.1%)JP Morgan's Pinto doubts the Federal Reserve will be cutting rates this yearUS authorities express elevated fears about a terrorist attack like that seen in RussiaNew Zealand March trade balance +588mn (prior -218mn)HSBC bearish GBP/CHF, target is 1.1UBS is dialling back plans in China - high costs, poor profit outlookUS SEC is unlikely to approve spot ETH ETFs in May - price to rise regardlessGoldman Sachs on 2024: expects earnings, equities to rise, inflation & rates to fallOil - private survey of inventory shows a draw vs. the build that was expectedForexlive Americas FX news wrap: Softer PMI weighs on US dollarTrade ideas thread - Wednesday, 24 April, insightful charts, technical analysis, ideas There were items on the data calendar of interest for the session here. The private survey of oil inventory showed a draw compared with the build that was expected. Oil prices have remained fairly steady since, in a tight range. From New Zealand, we had a trade surplus recorded in March. Exports showed a welcome rise but imports fell to their lowest since the middle of 2021. NZD/USD has risen on the session slightly, helped along by a higher AUD (more on this below). Services PPI in Japan for March rose, for a second month in a row. The Bank of Japan holds the view that rising service prices will supplant cost-push inflation as a key driver of price inflation towards its 2% target. The data supported this view (to the extent that it gets passed along in consumer prices). The big data point, though, was the Q1 CPI from Australia. The headline rate, and the two core rates, all jumped more than expected. This has implications for the Reserve Bank of Australia, at the very least delaying potential rate cuts. Indeed, Westpac analysts pushed back their RBA rate cut forecast to November from September. AUD/USD jumped above 0.6500 on the inflation data release and has barely pulled back since. In geopolitically significant news the US Senate passed the bill to provide US$95bn in aid to Ukraine, Israel, and Taiwan: $60.8 billion for Ukraine $26.4 billion for Israel $8 billion for Taiwan The bill also included the potential to ban TikTok. US President Biden says he will sign the bill into law on Wednesday. Apart from the AUD move, FX was sedate. USD/JPY continues to wiggle along just under 155.00. AUD/USD update: This article was written by Eamonn Sheridan at www.forexlive.com.

Australian Q1 CPI +1.0% q/q (expected 0.8%) 3.6% y/y (expected 3.4%)

Apr 23, 2024 | 18:30 pm

AUD has jumped on the higher than expected inflation figures. The results are also just above RBA forecasts,This is a nail in the coffin of 2024 rate cuts from the Reserve Bank of Australia.Hiher than expected headline and core (trimmed mean) inflation data from Australia for the January - March quarter:You'll note the blank space for the monthly inflation result, it came in at 3.5%, also higher than expected.---Summarising the Q1 data:Headline CPI +1% q/qexpected +0.8%, prior: +0.6%Headline CPI 3.6% y/yexpected 3.5%, prior: 4.1%Trimmed mean (a core measure) CPI +1% q/qexpected +0.8%, prior: +0.8%Trimmed mean CPI 4% y/yexpected 3.8%, prior: 4.2%Weighted median 1.1% q/qexpected 0.9%, prior 0.9% Weighted median (another core measure) 4.4% y/yexpected 4.1%, prior 4.4%Services inflation 4.3% y/y is the lowest since June of 2022Goods inflation 3.1% y/y is the lowest since September 2022 This article was written by Eamonn Sheridan at www.forexlive.com.

US Senate passes US$95bn aid bill for Ukraine, Israel, Taiwan

Apr 23, 2024 | 18:29 pm

The bill to provide aid to those countries threatened by the axis of totalitarian regimes and terrorists has the votes to pass. Hat tip to Speaker Johnson for getting it passed through a difficult House to even make it to the Senate. Once the vote completes it'll be off to Biden for signing into law. Potential TikTok ban$60.8 billion for Ukraine$26.4 billion for Israel$8 billion for Taiwan This article was written by Eamonn Sheridan at www.forexlive.com.

Aussie dollar trades below US$0.65

Apr 23, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar is stronger this morning when valued against the Greenback currently trading at US$0.6480 at the time of writing. The Aussie dollar continues its upward trajectory for the second consecutive session on Tuesday, buoyed by improved risk appetite. On the data front yesterday Australia's Judo Bank Purchasing Managers Index (PMI) Composite rose to a 24-month high of 53.6 in April compared to the previous month's 53.3. The Australian private sector ticked up into an accelerated pace of growth in the second quarter bolstered primarily by Services sector growth. Australia's Manufacturing PMI Output rose to an eight-month high of 49.1 compared to March's 45.7, brushing off a 2-month low of 54.2 in the Services Business Activity compared to March's 54.4. Looking ahead today the Australian Bureau of Statistics will release the latest Consumer Price Index (CPI) which is expected to increase from 0.6% to 0.8% for the last quarter. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. Finally, on Friday we will see the release of the Producer Price Index (PPI). There will be no commentary tomorrow due to the Anzac Day public holiday. Key Movers The pound bounced back from US$1.2300 in Tuesday’s early session as the S&P Global/CIPS posted stronger-than-expected United Kingdom preliminary Services PMI data for April. Surprisingly, the Services PMI jumped to 54.9 from the prior reading of 53.1. Investors forecasted the Services PMI to drop slightly to 53.0. The preliminary Manufacturing PMI, surprisingly contracted, remains below the 50.0 threshold that separates expansion from contraction after expanding in March. The factory PMI falls sharply to 48.3 from expectations and the prior reading of 50.3. Looking ahead to the rest of this week investors will shift focus to the core Personal Consumption Expenditure Price Index (PCE) data for March, which will be published on Friday. The monthly core PCE Price Index is estimated to grow steadily by 0.3%. Annually, the underlying inflation data is expected to soften to 2.6% from 2.8% in February. The US Dollar Index (DXY) is trading softly at 105.70 tallying daily losses on Tuesday's session. Investors will be keeping an eye on vital economic reports due this week, including the preliminary figures of Q1’s Gross Domestic Product (GDP) Growth Rate and the Personal Consumption Expenditures (PCE) Price Index from March to gain further insight into the economy's health. During Tuesday’s session, S&P PMIs came in lower than expected and made the USD face selling pressure. US Treasury bond yields are dwindling with the 2-year yield at 4.93%, the 5-year yield at 4.61%, and the 10-year yield at 4.58%. Expected RangesAUD/USD: 0.6400 - 0.6600 ▲AUD/EUR: 0.5950 - 0.6150 ▲GBP/AUD: 1.9050 - 1.9250 ▼AUD/NZD: 1.0800 - 1.1000 ▲AUD/CAD: 0.8750 - 0.8950 ▼

Trump advisers are planning US dollar devaluation if he gets elected

Apr 23, 2024 | 16:57 pm

An article (link is here) canvassing a plan for a second Trump administration to send the US dollar lower:According to Politico, Trump’s former trade adviser Robert Lighthizer and several policy allies would seek to make American trade more competitive by purposely weakening the dollar.the article gives a bit of a run down on the pros and cons of a lower dollar, for example:more competitive US exports (a pro) inflation in the domestic economy as the prices of imported goods and raw materials increase (a con) This article was written by Eamonn Sheridan at www.forexlive.com.

Japan data - March Services PPI 2.3% y/y (prior +2.1%)

Apr 23, 2024 | 16:50 pm

Japan's Services PPI is AKA the Corporate Services Producer Price Index.Its published by the Bank of Japan.+2.3% y/y expected +2.1%, prior +2.1% y/y This has accelerated for the second month. The Bank of Japan is keenly watching services prices as a key indicator of whether wages and inflation are rising together. This article was written by Eamonn Sheridan at www.forexlive.com.

US authorities express elevated fears about a terrorist attack like that seen in Russia

Apr 23, 2024 | 15:59 pm

FBI Director Christopher Wray spoke with US media, NBC Nightly News, on Tuesday:said there are also elevated fears about a coordinated terror attack in a public place, a prospect that for the last decade has been seen by intelligence officials as extremely remote. “We are increasingly concerned [about] the potential for some kind of coordinated attack here in the homeland, which may be not that different from what you saw against the concert hall in Russia a few weeks ago from ISIS-K” Link here for more. Quite a lot more - January 6 terror, Chinese Communist Party propaganda amongst topic covered. To all our friends in the US, take care there! This article was written by Eamonn Sheridan at www.forexlive.com.

New Zealand March trade balance +588mn (prior -218mn)

Apr 23, 2024 | 15:45 pm

Exports rose from February but imports fell:imports fell to the lowest since mid-2021 NZ posted a trade surplus for March. NZD/USD is little changed. While the jump in exports is welcome the dip for imports points to an economy struggling with high rates. This article was written by Eamonn Sheridan at www.forexlive.com.

HSBC bearish GBP/CHF, target is 1.1

Apr 23, 2024 | 15:25 pm

HSBC is looking for the CHF to rise, saying CHF shorts "look weary", and the CHF is resilient:resilience is likely due to geopolitical tensionswith uncertainties lingering, CHF can stay supported on a ‘safe haven’ basisAs for the GBP side, analysts at HSBC are looking for a Bank of England rate cut despite high and sticky services inflation, and wage growth. And see scope for further rate cuts: "May BoE meeting could be an important stage-setter for a possible June easing"-- HSBC idea is to sell GBP/CHF at 1.1350target 1.1000On Tuesday, Pill gave GBP a leg up to that level HSBC is looking to short at:BOE's Pill: The timing for a rate cut is still some way offBOE's Pill says seeing signs of a downward shift in inflation persistencyBOE's Haskel: High inflation to remain unless labour market weakens This article was written by Eamonn Sheridan at www.forexlive.com.

UBS is dialling back plans in China - high costs, poor profit outlook

Apr 23, 2024 | 15:15 pm

Bloomberg (gated) carried the report ICYMI. In brief:UBS is postponing plans to build its own mutual fund business in mainland China'people familiar with the matter' says its due to high costs and a dim profit outlookUBS will instead rely on existing joint ventures to expand in China’s mutual fund industry This article was written by Eamonn Sheridan at www.forexlive.com.

Oil - private survey of inventory shows a draw vs. the build that was expected

Apr 23, 2024 | 13:43 pm

Via Twitter:--Expectations I had seen centred on:Headline crude +1.8 mn barrelsDistillates -0.9 mn bblsGasoline -1.4 mn--This data point is from a privately-conducted survey from the American Petroleum Institute (API).It's a survey of oil storage facilities and companiesThe official report is due Wednesday morning US time.The two reports are quite different.The official government data comes from the US Energy Information Administration (EIA)Its based on data from the Department of Energy and other government agenciesWhereas information on total crude oil storage levels and variations from the previous week's levels are both provided by the API report, the EIA report also provides statistics on inputs and outputs from refineries, as well as other significant indicators of the status of the oil market, and storage levels for various grades of crude oil, such as light, medium, and heavy.the EIA report is held to be more accurate and comprehensive than the survey from the API This article was written by Eamonn Sheridan at www.forexlive.com.

Forexlive Americas FX news wrap: Softer PMI weighs on US dollar

Apr 23, 2024 | 13:41 pm

S&P Global services PMI 50.9 vs 52.0 expectedUS March new home sales 0.693m vs 0.670m expectedRichmond Fed Manufacturing index -7 versus -7 estimateTexas Instruments reports earnings of $1.20 versus $1.07 expectedVisa reports earnings: EPS 2.51 vs 2.44 estimate. Company sees 'stable consumer spending'Tesla earnings: EPS $0.45 vs $0.51 estimate. Revenues $21.3B vs $22.31B estimateUS sells 2-year notes at 4.898% vs 4.904% WIJPMorgan CEO Dimon: There is a chance stagflation could happen againECB's Nagel: Need to be convinced that inflation is heading back to target before cutsPhilly Fed April non-manufacturing index -12.4 vs -18.3 priorMarkets:WTI crude up $1.44 to $83.33US 10-year yields down 1.6 bps to 4.60%S&P 500 up 1.2%, Nasdaq up 1.6%Gold down $3 to $2322GBP leads, USD lagsThe US dollar reversed lower after the softer PMI data. It was seen as a glimpse into a slowing economy and a sign that Fed rate cut hopes aren't done yet.EUR/USD quickly moved to 1.0700 from 1.0660 then traded sideways from there. The pound rose 65 pips to 1.2450.Commodity currencies were also strong, supported by improved risk appetite.Even the yen got some help from the PMI but the 25 pip drop in USD/JPY was quickly bought. A second dip after a strong US 2-year Treasury auction was also bought as the pair appears determined to test 155.00. This article was written by Adam Button at www.forexlive.com.

Major US stock indices closed higher for the second consecutive day this week

Apr 23, 2024 | 13:30 pm

The major US stock indices have risen for the second consecutive day this week. The move to the upside was encouraged by the lower rates as S&P global PMI data was weaker than expectations lowering fears about a tighter or less accommodative Fed. The NASDAQ index and the interest rate-sensitive small-cap Russell 2000 index led the charge to the upside.The final numbers are showing:Dow Industrial Average up 263.71 points or 0.69% at 38503.70S&P index of 59.97 points or 1.20% at 5070.56NASDAQ index up 245.33 points or 1.59% at 15696.64The small-cap Russell 2000 rose 35.17 points or 1.79% at 2002.64.Tesla reported earnings after the close of $0.45 versus $0.51 expected (MISS). Revenues were $21.3 billion versus $22.15 billion expected (MISS). Despite the miss on the top and bottom lines, shares are currently trading up $7.60 or 5.25% in volatile trading (they were higher). Investors are cheering that the company is looking to add to the vehicle lineup with a cheaper model in 2H. IN other earnings after the close:Visa reported EPS of $2.51 versus $2.44 expected (BEAT). Revenues came in at $8.7 billion versus expectations of $8.63 billion (BEAT). They affirmed fiscal year 2024 revenue low double digit. Shares of Visa are trading up $8.87 or 3.24% at $283Texas instruments reported earnings-per-share of $1.20 versus $1.07 expected (BEAT). Revenues came in at $3.66 billion versus $3.61 billion expected (BEAT). They see Q2 EPS at $1.05 – $1.25 versus expectations of $1.16 and revenues of $3.65 billion – $3.95 billion versus expectations of $3.78 billion (MET). Shares of TXN are trading up $8.78 or 5.31% at $174.25 This article was written by Greg Michalowski at www.forexlive.com.

Texas Instruments reports earnings of $1.20 versus $1.07 expected

Apr 23, 2024 | 13:19 pm

Texas Instruments reports earnings:EPS $1.20 versus $1.07 expectedRevenues of $3.68 billion versus expected $3.61 billionGuidance revenues $3.65 and $3.95 billion versus $3.78 billion estimate This article was written by Greg Michalowski at www.forexlive.com.

Visa reports earnings: EPS 2.51 vs 2.44 estimate. Company sees 'stable consumer spending'

Apr 23, 2024 | 13:12 pm

EPS $2.51 vs $2.41 expectedRevenues $8.80 billion vs $8.55 billion expectedShares are up 3.4%. The jump in revenue is a good sign for overall consumer spending and the metrics point to a healthy global consumer.Comments from Ryan McInerney, Chief Executive Officer:"Visa delivered strong results in the second quarter, with net revenue up 10%, GAAP EPS up 12%, and non- GAAP EPS up 20%. Overall payments volume grew 8% [y/y] and cross-border volume grew 16%, driven by stable consumer spending. As we head into the second half of the year and beyond, we remain focused on the trillions of dollars of opportunity in consumer payments and new flows and on continuing to deepen our partnerships with clients around the world by adding value across our network of networks."In the earnings presentation, there is some deceleration in Visa transactions into April:Here is the forward-looking guidance. The revenue numbers certainly don't point to any consumer weakening. This article was written by Adam Button at www.forexlive.com.

Tesla earnings: EPS $0.45 vs $0.51 est. Revs $21.3B vs $22.31B est. Looks to expand lineup

Apr 23, 2024 | 13:04 pm

Tesla earnings are outEPS $0.45 vs $0.51 expectedRevenues $21.3 billion vs $22.31B estimate. Last year $23.329 billion. This is the first drop in 4-years. Gross margins 17.4%Free cash flow -2.531 millionAdjusted EBITDA 3.384 million versus 3.313 million estimateGuidance for deliveries for the year was expected at 1.89-1.90M. Do not see an estimate for deliveries in the initial release of data. Updated future vehicle lineup to accelerate launch of the new models ahead of previously communicated start of production in 2H of 2025 . (i.e, the company is hinting at more affordable models).Regarding new models, they will include more affordable models, will utilize aspects of next-generation platform as well as aspects of our current platforms.Committed to companywide cost production.The company announced job cuts of over 10% last week. They have ample liquidity to afford expansion plans.Global EV sales continue to be under pressure as many carmakers prioritize hybrids over EVsSays our vehicle volume growth rate may be notably lower than the growth rate achieved in 2023Says we experienced numerous challenges in Q1, from the Red Sea conflict and the arson attack at Gigafactory in BerlinTo support growth, they said that they have been increasing awareness and expanding vehicle financing programs, including attractive leasing terms for our customersIn US we produced over 1000 cybertrucks in a single week in April.In artificial intelligence software and hardware, will continue to increase our core AI infrastructure capacity in coming monthsDespite the miss on the top and bottom line Tesla shares are now up over 7% trading at $155.88, up $11.44 as investors are encouraged by the accelerated pace of new, more affordable models (from 2H of 2024).Although the price is higher at $155.88 snapshot, the price of TSLA shares were as high as $179.22 on April 9. The next upside target comes in at $160.51 followed by the falling 50-day moving average at $176.71. It would take a move above both to give buyers some confidence. This article was written by Greg Michalowski at www.forexlive.com.

Economic calendar in Asia Wednesday, 24 April 2024 - Australian inflation data

Apr 23, 2024 | 12:58 pm

New Zealand trade data kicks off the agenda, with Japanese services PPI to follow and then Australian CPI data for both the March month and Q1.Eyes will be mainly on the quarterly inflation data, which is expected to rise from 0.6% q/q in Q4 2023 to 0.8% q/q for Q1 of 2024. This will keep the RBA on alert and the cash rate sitting here it is for now. The y/y is expected to drop, both for the headline and core (trimmed mean). This snapshot from the ForexLive economic data calendar, access it here.The times in the left-most column are GMT.The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected. This article was written by Eamonn Sheridan at www.forexlive.com.

Aussie dollar trades back above US$0.64

Apr 22, 2024 | 17:00 pm

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

Aussie dollar trades below US$0.64

Apr 21, 2024 | 17:00 pm

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

Aussie slides on prospect of US rate hike

Apr 18, 2024 | 17:00 pm

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

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

Apr 18, 2024 | 00:27 am

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

AUD finds support as market ignores risk off tone

Apr 17, 2024 | 17:00 pm

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

Bitcoin Halving: Will it Trigger a Market Frenzy?

Apr 17, 2024 | 04:41 am

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

Forex Today: US Yields Rise on Powell Cut Delay Signal

Apr 17, 2024 | 02:00 am

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

Forex Today: Stock Markets See Strong Selling

Apr 15, 2024 | 23:10 pm

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

Forex Today: Risk Sentiment Improves as Mideast Tension Lowers

Apr 15, 2024 | 00:51 am

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

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

Apr 10, 2024 | 23:28 pm

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

US Inflation Higher Than Expected, Accelerates to 3.5%

Apr 10, 2024 | 09:37 am

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

Forex Today: US CPI Expected to Show Slower Monthly Increase

Apr 9, 2024 | 23:43 pm

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

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

Apr 7, 2024 | 23:24 pm

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

Forex Today: Gold Beats $2,300

Apr 4, 2024 | 00:08 am

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

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

Apr 2, 2024 | 22:27 pm

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

German Inflation Eases to 3-Year Low

Apr 2, 2024 | 07:54 am

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

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

Apr 1, 2024 | 23:20 pm

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

Forex Today: Gold Hits $2265 Per Ounce

Mar 31, 2024 | 23:13 pm

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

United States GDP Expanded in Fourth Quarter by 3.4%

Mar 28, 2024 | 07:44 am

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

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

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

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

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.

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

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

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

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

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.

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

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%.

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

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

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.

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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