Month: September 2023

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Australian Dollar rises broadly today, as lifted by stronger than expected headline employment data. But the details are less impressive, as the vast majority of job growth were part-time, while hours worked decline. That’s nonetheless welcome news for RBA, as the job markets while starting to cool, appeared to have absorb prior rate hikes well.

Oil rebounded on Thursday, with Brent crude topping $93 a barrel for the first time this year, as expectations of a tighter supply outlook for the rest of 2023 overshadowed concerns over weaker economic growth and rising U.S. inventories. Saudi Arabia and Russia’s extension of oil output cuts will result in a market deficit through

AI image Canadian Prime Minister Justin Trudeau is watching his popularity plummet. The country is two years away from an election unless his coalition partners in the NDP want to pull the plug but waiting isn’t likely to do him any good. The nation has completely soured on his plans to add 1 million immigrants

In a twist of events today, Euro takes a considerable hit following ECB’s dovish rate hike which communicated a possibly peak in the tightening cycle. The downgrading of core CPI and GDP growth forecasts for the coming years – 2024 and 2025 – further aggravates the descent. This bearish sentiment spills over to Sterling and

Gold traded in the red on Thursday after US retail inflation accelerated, though lower than what was anticipated raising odds for another rate hike. While the jury is still out on whether the Fed will do it in its upcoming monetary policy meeting next week. However the losses were capped on account of slippages in

The report is via Reuters, citing two sources with knowledge of the matter. It is said that the PBOC has asked some of the big banks to refrain from immediately squaring their market positions and to let it run open in order to alleviate further downside pressure on the Chinese yuan. Adding that the banks

In Asian trading session today, the forex markets remained steady with no significant movements outside of yesterday’s range among major pairs and crosses. Sterling stood slightly firmer, holding much anticipation for the forthcoming UK employment data, notably the insights on wage growth which can potentially delineate its next significant move. In contrast, Euro presented a