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France April flash services PMI 50.5 vs 48.9 expected

Apr 23, 2024 | 00:15 am

Prior 47.8Manufacturing PMI 44.9 vs 46.9 expectedPrior 46.2Composite PMI 49.9 vs 48.8 expectedPrior 48.3The French economy nears stabilisation in April but it is a tale of two halves for the most part. While the services sector has returned to growth, the manufacturing sector is seen in deeper contraction territory on the month. But it is the first time in almost a year that services activity is seen expanding at least. HCOB notes that:"The French economy is back on track. The Composite Flash PMI reached its highest level in 11 months, with 49.9 index points taking it almost out of the contraction zone. The only reason for that surprisingly robust figure is the expansion of the services sector, which experienced an increase in demand for the first time since April 2023. The manufacturing sector stays put in decline due to a deceleration of activity. Overall, our HCOB nowcast model for the second quarter points to a recovery of the French economy, driven by the services sector. "The French services sector is the workhorse of the economy. Services activity grew for the first time since May 2023, when large protests started to drive negative economic sentiment. The main reason for the expansion was higher demand. Because demand was strong in April, backlogs of work declined at a slower pace compared to the previous month. "French manufacturing output stays subdued, but we expect it will soon follow the path of the services sector. The manufacturing sector delays the overall economy’s recovery for now, though. The Output Index dropped for another month, mostly offsetting services activity growth. Weak demand in manufacturing was the main reason for the faster deterioration. "Prices remain elevated due to higher wages, energy and oil prices. In particular, output price inflation reaccelerated in April, staying clearly above 50. Input prices also reaccelerated compared to the previous month. The labour-intensive services sector is mostly responsible for price pressures in France. Increases in wages and fuel prices were cited as the reasons for services and goods inflation, respectively. According to the Indeed Wage Tracker, wage growth should slow further in the coming months, appeasing monetary policymakers. We also believe that the recent resurgence in energy prices should calm down somewhat in the medium term." This article was written by Justin Low at www.forexlive.com.

European equities stick with a more positive mood to start the day

Apr 23, 2024 | 00:13 am

Eurostoxx +0.8%Germany DAX +0.9%France CAC 40 +0.4%UK FTSE +0.6%Spain IBEX +0.6%Italy FTSE MIB +0.5%The optimistic turn continues in Europe as investors look to keep the bounce going. US futures are less enthused though, with S&P 500 futures up just 0.1%. For UK stocks, they're shining brightly with the FTSE 100 hitting a fresh record high now: This article was written by Justin Low at www.forexlive.com.

Gold price flirts with $2,300 amid receding safe-haven demand, reduced Fed rate cut bets

Apr 23, 2024 | 00:03 am

Gold price (XAU/USD) plunged over 2% on Monday and registered its biggest daily loss since June 13, 2022, amid receding fears about a wider Middle East conflict, which dented demand for traditional safe-haven assets.

Gold stays in retreat mode, down 1% on the day

Apr 22, 2024 | 23:55 pm

The recent geopolitical tensions was a good reason for stocks to come off the boil. And now that the fears are abating, it is also providing a good reason for gold to also let out some of the steam. Gold made some attempts to top $2,400 earlier this month but failed to see a daily close above the key level. And now, price is starting to feel exhausted as it falls back to $2,300 on the day.It has been quite the run for gold over the last two months, having gained by more than 20% at one point. One can easily make an argument of price running up too high, too fast. And with that, comes the correction/retracement phase. That might be where we are at now.The near-term chart already took a turn in trading yesterday here. And the further drop today now calls into question the bigger picture from a technical perspective. The daily chart highlights that we might see this latest fall extend further, with little support on the way down.The Fib retracement outline shows that we could see a push towards $2,260 next at least before some semblance of support. That coming from the 38.2 Fib retracement level. The next key stop after that might be a push towards $2,200.But as mentioned yesterday, there is still a very strong argument for gold to run even higher in the months ahead. As such, this latest retreat is another dip buying opportunity. Stay vigilant on changes in market sentiment and also lean on the technicals. That's the best bet when going about trades like this one. This article was written by Justin Low at www.forexlive.com.

Japanese Yen struggles to lure buyers amid divergent BoJ-Fed policy expectations

Apr 22, 2024 | 23:38 pm

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

USD/INR edges lower following Indian PMI data

Apr 22, 2024 | 23:19 pm

The Indian Rupee (INR) gains ground on Tuesday, backed by likely equity inflows and US Dollar (USD) sales from state-run banks.

Japan lawmaker says authorities could intervene to support yen at any time

Apr 22, 2024 | 23:16 pm

Recent yen fall has been excessive, out of line with fundamentalsDon't think Japan will face any criticism if it were to act nowAuthorities could intervene to prop up yen at any timeThe verbal intervention continues on the day but once again, it isn't fazing USD/JPY whatsoever. The pair is basically frozen so far in trading this week. Buyers are not willing to abandon their bullish conviction (for the most part) yet but are struggling to muster up the courage to test Tokyo's resolve at the 155.00 mark. Will it be a case of Icarus flying too close to the sun? This article was written by Justin Low at www.forexlive.com.

Silver Price Forecast: XAG/USD attracts some sellers below $27.00 amid risk-on mood

Apr 22, 2024 | 23:09 pm

Silver price (XAG/USD) trades on a softer note for the second consecutive day around $26.95 on Tuesday during the early European session.

Australian Dollar stays calm amid a firmer US Dollar, PMI eyed

Apr 22, 2024 | 23:03 pm

The Australian Dollar (AUD) continues its upward trajectory for the second consecutive session on Tuesday, buoyed by improved risk appetite.

United Kingdom Public Sector Net Borrowing came in at £11.015B, above forecasts (£-8.9B) in March

Apr 22, 2024 | 23:00 pm

United Kingdom Public Sector Net Borrowing came in at £11.015B, above forecasts (£-8.9B) in March

AUD/JPY consolidates after upbeat Aussie Composite PMI, Australian Monthly CPI awaited

Apr 22, 2024 | 22:58 pm

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

Why these value stocks are on the rise

Apr 22, 2024 | 22:55 pm

Last week was a bad one for technology stocks and the markets in general, but it was a pretty good one for value stocks.

EUR/USD Price Analysis: Tests the major level of 1.0650; followed by the nine-day EMA

Apr 22, 2024 | 22:48 pm

EUR/USD remains lackluster during the Asian trading hours on Tuesday, hovering near 1.0650.

BoJ: Japan's Inflation trend gauge rises at slowest pace in 11 months in March

Apr 22, 2024 | 22:46 pm

Japan's Weighted Median Inflation Index, a key measure of the country’s trend inflation, rose at its slowest pace in 11 months to 1.3% in March, the latest data published by the Bank of Japan (BoJ) showed on Tuesday.

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

Apr 22, 2024 | 22:42 pm

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

China is to revise statistics law in order to combat data fraud

Apr 22, 2024 | 22:19 pm

Amid skepticism on the reliability of its data, China is said to be revising its statistics law to prevent persistent data fraud. The draft of the amended law has been submitted to the standing committee of the National People's Congress for discussions.It is said that the amendment will help to strengthen statistical supervision and also help authorities pin down legal responsibility. Adding that authorities will increase fines for illegal behaviour by firms or public institutions that refuse to, or delay, reporting data.Well, it comes at a bit of a sensitive time for China considering the state of its economy. Beijing will want to prove that it can still consistently meet its growth target, and wants to look credible at that. My take is that it will take more transparency and more years of actual honest reporting to change any perception currently. One or two years of good isn't going to cover for the fact that we've had decades of skepticism on Chinese data reliability. This article was written by Justin Low at www.forexlive.com.

FX option expiries for Apr 23 NY cut

Apr 22, 2024 | 22:15 pm

FX option expiries for Apr 23 NY cut at 10:00 Eastern Time, via DTCC, can be found below - EUR/USD: EUR amounts 1.0600 979m 1.0650 1.2b - USD/JPY: USD amounts 150.00 935m 153.00 1.3b 155.00 770m - AUD/USD: AUD amounts 0.6420 1.6b 0.6630 1.4b - USD/CAD: USD amounts 1.3500 505m 1.3775 330m - NZD/USD: NZD amounts 0.5900 341m 0.6100 311m .

Japan underlying inflation measures slowed in March - BOJ

Apr 22, 2024 | 22:10 pm

According to the latest core inflation measures from the BOJ, price pressures have slowed further in March. The trimmed mean reading fell to 2.2% from 2.3% in February. Meanwhile, the weighted median reading fell to 1.3% from 1.4% in February. Here's the graph depicting the trend: This article was written by Justin Low at www.forexlive.com.

India HSBC Manufacturing PMI unchanged at 59.1 in April

Apr 22, 2024 | 22:02 pm

India HSBC Manufacturing PMI unchanged at 59.1 in April

India HSBC Composite PMI up to 62.2 in April from previous 61.8

Apr 22, 2024 | 22:01 pm

India HSBC Composite PMI up to 62.2 in April from previous 61.8

India HSBC Services PMI climbed from previous 61.2 to 61.7 in April

Apr 22, 2024 | 22:01 pm

India HSBC Services PMI climbed from previous 61.2 to 61.7 in April

Singapore Consumer Price Index (YoY) came in at 2.7, below expectations (3.1) in March

Apr 22, 2024 | 22:00 pm

Singapore Consumer Price Index (YoY) came in at 2.7, below expectations (3.1) in March

Coles Group Limited Elliott Wave technical forecast [Video]

Apr 22, 2024 | 21:44 pm

ASX: Coles Group Limited – COL Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COLES GROUP LIMITED.

Pound Sterling holds steady on Tuesday amid subdued USD demand

Apr 22, 2024 | 21:42 pm

The GBP/USD pair struggles to capitalize on the overnight bounce from the 1.2300 mark, or its lowest level since November 14 and oscillates in a narrow band during the Asian session on Tuesday.

PMI data comes into focus in trading today

Apr 22, 2024 | 21:41 pm

For a moment in US trading yesterday, there was a concern that risk trades would've faltered. But at the end of the day, the more optimistic mood was salvaged as stocks ended the day higher. In continuing with that, we're seeing gold slide back further today to hit $2,300. That comes amid a shift in the near-term sentiment in the day before as pointed out here.In FX, the dollar continues to keep in a rather comfortable position. The commodity currencies are off to a decent start this week but against the dollar, the gains are nothing to shout about. Meanwhile, USD/JPY continues to hover close to the 155.00 mark as we await the more important data releases on the week. Is Icarus flying too close to the sun?As for trading today, PMI data will be in the spotlight. The euro area and UK releases should not do much to impact the outlook for the ECB and BOE respectively. That is unless we get some major surprises in the readings. But all else being equal, the ECB is on track for a move in June and the BOE is still likely to keep the door open for a move in August.Looking at the market odds, traders are seeing a ~67% probability of a ECB rate cut in June. As for the BOE in August, traders have fully priced in that while seeing a ~62% probability of a move in June. I wouldn't expect these odds to shift dramatically today. But we'll see.If anything else, the US PMI data later today is likely to be the one with more potential impact.0715 GMT - France April flash manufacturing, services, composite PMI0730 GMT - Germany April flash manufacturing, services, composite PMI0800 GMT - Eurozone April flash manufacturing, services, composite PMI0830 GMT - UK April flash manufacturing, services, composite PMIThat'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.

NZD/USD remains above 0.5900 amid hawkish Fed, US PMI, Kiwi Trade Balance eyed

Apr 22, 2024 | 21:34 pm

The NZD/USD pair moves slightly lower to near 0.5920 during the Asian session on Tuesday.

GBP/USD Price Analysis: Flat lines around mid-1.2300s, bearish potential seems intact

Apr 22, 2024 | 21:24 pm

GBP/USD holds steady on Tuesday amid subdued USD demand, albeit lacks bullish conviction.

Japan huffs and puffs but it isn't taking USD/JPY down

Apr 22, 2024 | 21:20 pm

In case you missed the tirade from Japanese officials earlier:Japan finance minister says groundwork laid to take appropriate FX actionJapan finance minister Suzuki says the weak yen has pros and cons for the economyBank of Japan Governor Ueda: Wage talks not the only determinant of monetary policyBank of Japan Governor Ueda on what inflation needs to do for a BOJ rate hikeIt has done little to really move the needle in USD/JPY, with the pair keeping around 154.70 levels at the moment.I would argue that buyers will still err on the side of caution for the time being. It would require a key trigger to muster up the courage to push price and test the figure level at this stage. In that regard, it could likely come down to what the economic calendar has to say this week.After the above comments, Japanese bond yields are on the up with 10-year yields at 0.892% - its highest since November last year. But that is still not fazing USD/JPY whatsoever.So, buckle up. It could shape up to be an action-packed and volatile week for USD/JPY, that is if we get the right triggers. This article was written by Justin Low at www.forexlive.com.

China acquired recently banned Nvidia chips in Super Micro, Dell servers

Apr 22, 2024 | 20:43 pm

Reuters have the report on China acquiring banned chips:Chinese universities and research institutes recently obtained high-end Nvidia artificial intelligence chips through resellers, despite the U.S. widening a ban last year on the sale of such technology to China. A Reuters review of hundreds of tender documents shows 10 Chinese entities acquired advanced Nvidia chips embedded in server products made by Super Micro Computer, Dell Technologies and Taiwan's Gigabyte Technology Co.Link here for more. This article was written by Eamonn Sheridan at www.forexlive.com.

ForexLive Asia-Pacific FX news wrap: Gold continues its slide

Apr 22, 2024 | 20:37 pm

US drafting sanctions threaten to cut some Chinese banks off from global financial systemGoldman Sachs revised forecasts for USD/JPYFX option expiries for 23 April 10am New York cutBank of Japan Governor Ueda: Wage talks not the only determinant of monetary policyBank of Japan Governor Ueda on what inflation needs to do for a BOJ rate hikeJapan finance minister says groundwork laid to take appropriate FX actionJapan finance minister Suzuki says the weak yen has pros and cons for the economyPBOC sets USD/ CNY central rate at 7. 1059 (vs. estimate at 7.2437)Japan finance minister Suzuki won't comment on current FX movesJapan April preliminary PMI Manufacturing 49.9 (prior 48.2) Services 54.6 (prior 54.1)China Securities Journal says there is still a chance the PBoC will cut the MLF rateUSD/JPY barely under 155, rate differential fundamental support - any MoF intervention?Australian Consumer Confidence weekly survey falls to its lowest this year (so far)The Swiss National Bank (SNB) is being urged to include cryptocurrency in their reservesAustralia April preliminary PMI Manufacturing 49.9 (prior 47.3) Services 54.2 (prior 54.4)JP Morgan's Kolanovic says the slide in US stocks is not overA high hurdle for the Fed to sound dovish (make a potential December rate cut great again)Goldman Sachs cut its EUR/USD forecasts (by not very much)Vanguard's base scenario is a "deferred landing" for US economy, less aggressive Fed cutsBlackRock’s Rieder sees Federal Reserve being able to lower interest rates twice this yearBlackrock forecasts European Central Bank rate cuts before the Federal ReserveICYMI: UBS downgraded Magnificent 6 tech stocks (6 = 7 minus Tesla) to NeutralOil snippets: 1 Barclays sees upside risk, 2 Venezuala to shift sales to digital currencyTrade ideas thread - Tuesday, 23 April, insightful charts, technical analysis, ideasForexlive Americas FX news wrap: US dollar gives back gains as risk mood improves After gold’s huge fall on Monday, the move carried on further during Asia time. Gold dropped under US$2,300 and is not a lot above there as I update. There was no fresh news to act as a catalyst. Data flow was light (preliminary PMIs from Australia and Japan), and news flow was also. We had comments from Japan’s finance minister Suzuki, most notably saying that last week's discussions in Washington laid the groundwork for Japan to take appropriate FX action. USD/JPY hasn’t shown much response, its barely off its highs of the session in a tight range.Bank of Japan Governor Ueda spoke also, he didn’t add to what we already know of the BOJ considerations for their next policy move (in a nutshell, Ueda reiterated the BOJ's intention to raise its benchmark interest rate if underlying inflation rises toward the 2% target).The USD lost a little ground. AUD, NZD, EUR, GBP are all slightly higher but there isn’t much in it. The Wall Street Journal reported that the US is drafting sanctions that threaten to cut some Chinese banks off from the global financial system due to bank’s aiding in Russia's war on Ukraine. Mainland Chinese stocks are lower on the session while Hong Kong is slightly higher. This article was written by Eamonn Sheridan at www.forexlive.com.

US drafting sanctions threaten to cut some Chinese banks off from global financial system

Apr 22, 2024 | 20:11 pm

Wall Street Journal with the report (gated):The U.S. is drafting sanctions that threaten to cut some Chinese banks off from the global financial system, arming Washington’s top envoy with diplomatic leverage that officials hope will stop Beijing’s commercial support of Russia’s military production, according to people familiar with the matter. China has heeded Western warnings not to send arms to Russia since the beginning of the war, but since Blinken’s trip to Beijing last year, China’s exports of commercial goods that also have military uses have surged. With China now the primary supplier of circuitry, aircraft parts, machines and machine tools, U.S. officials say Beijing’s aid has allowed Moscow to rebuild its military industrial capacity. Sanctions that impact Chinese banks will also threaten the 'China proxy' trade such as AUD. This article was written by Eamonn Sheridan at www.forexlive.com.

Tesla (TSLA): Is correction over? [Video]

Apr 22, 2024 | 19:53 pm

Short term Elliott Wave view on Tesla (TSLA) suggests decline from 2.27.2024 high is in progress as a 5 waves impulse lower.

Goldman Sachs revised forecasts for USD/JPY

Apr 22, 2024 | 19:52 pm

I posted earlier on Goldman Sachs revising their EUR forecasts, looking for a stronger USD:Goldman Sachs cut its EUR/USD forecasts (by not very much)GS are also looking for a higher USD against the yen:USD/JPY forecast to ¥155 in three months, ¥155 in six months and ¥150 in a yearfrom ¥155, ¥150 and ¥145 respectively This article was written by Eamonn Sheridan at www.forexlive.com.

Gold has another leg down, continuing its fall

Apr 22, 2024 | 19:41 pm

Gold had its biggest intraday drop in nearly two years on Monday, and its not looking much better during the Asian session:There is no fresh news apart from what has been posted (not that any of it has much relevance to gold).It bounced from trading just under 2300, but it doesn't look too convincing. This article was written by Eamonn Sheridan at www.forexlive.com.

BoJ’s Ueda: Would like to leave some scope for adjustment by not pre-committing to a certain policy too much

Apr 22, 2024 | 19:06 pm

Bank of Japan (BoJ) Governor Kazuo Ueda commented on the Japanese wage negotiations and their implication on the central bank’s policy this Tuesday.

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

Apr 22, 2024 | 18:49 pm

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

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

Apr 22, 2024 | 18:25 pm

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

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

Apr 22, 2024 | 18:17 pm

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

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

Apr 22, 2024 | 18:16 pm

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

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

Apr 22, 2024 | 17:55 pm

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

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

Apr 22, 2024 | 17:32 pm

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

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

Apr 22, 2024 | 17:31 pm

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

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

Apr 22, 2024 | 17:30 pm

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

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

Apr 22, 2024 | 17:23 pm

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

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 ▼

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

Apr 22, 2024 | 16:53 pm

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

Gold dips amid reduced geopolitical tensions

Apr 22, 2024 | 16:31 pm

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

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

Apr 22, 2024 | 16:00 pm

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

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

Apr 22, 2024 | 15:34 pm

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

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

Apr 22, 2024 | 13:43 pm

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

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

Apr 22, 2024 | 13:16 pm

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

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

Apr 22, 2024 | 13:15 pm

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

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

Apr 22, 2024 | 13:01 pm

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

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

Apr 22, 2024 | 12:59 pm

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

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

Apr 22, 2024 | 11:54 am

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

Oil bounces around before finishing lower by 29-cents

Apr 22, 2024 | 11:49 am

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

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

AUD slide continues on heels of softer yuan spills

Apr 16, 2024 | 17:00 pm

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

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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