FX

UnitedHealth Group stock slides hard as DOJ opens investigation. Government probe involves possible fraudulent overcharging of Medicare Advantage plans. UNH stock slides as low as 438.50, a 10-month low. Health insurer calls allegations “false” and “outrageous”. UnitedHealth Group (UNH) stock crashed on Friday morning in light of a new United States (US) Department of Justice (DOJ) probe

The latest flash estimate shows the US S&P Global Composite PMI dropped to 50.4 in February, down from 52.7 in January. This points to a weaker expansion in overall business activity across the private sector. Meanwhile, the S&P Global Manufacturing PMI edged higher from 51.2 to 51.6, still indicating that manufacturing is expanding. In contrast,

The Indian Rupee gathers strength in Friday’s Asian session.  Significant US Dollar sales and easing concerns on trade tensions underpin the INR.  The preliminary Indian and US PMI reports for February will be the highlights later on Friday.  The Indian Rupee (INR) gains ground on Friday after reaching a one-week high in the previous session.

AUD/USD advances to near 0.6380 as upbeat Aussie employment data is likely to force traders to pare RBA dovish bets. On Tuesday, the RBA cut its OCR by 25 bps to 4.10%, the first interest rate cut in more than four years. Higher US Initial Jobless Claims have weighed further on the US Dollar. The

GBP/USD could struggle due to new tariff threats from US President Donald Trump. The latest FOMC Meeting Minutes emphasized needing more time to assess multiple factors before considering any rate adjustments. The British Pound struggled to gain traction despite a stronger-than-expected annual inflation rate. GBP/USD holds ground after registering losses in the previous two successive

The US Dollar (USD) continues to grind higher in relatively quiet trade. President Trump’s suggestion that he will probably introduce auto tariffs ‘in the neighbourhood’ of 25% (and similar for pharma and chip imports) on April 2 has weighed on global stock sentiment while also depressing fixed income, Scotiabank’s Chief FX Strategist Shaun Osborne notes. 

The Reserve Bank of New Zealand (RBNZ) lowered the Official Cash Rate (OCR) by 50 basis points (bps) from 4.25% to 3.75%, following the conclusion of the February policy meeting on Wednesday. The decision aligned with the market expectations. The RBNZ has cut the official cash rate by 175 bps since August 2024. Summary of the RBNZ Monetary Policy

Canada’s inflation rate advanced slightly in January, according to the latest data from Statistics Canada. The Consumer Price Index (CPI)—which measures the cost of everyday goods and services—rose by 1.9% over the last twelve months, up from December’s 1.8% and matching analysts’ expectations. On a monthly basis, prices rose 0.1%, reversing a 0.4% drop in

The Reserve Bank of Australia is expected to cut the OCR by 25 basis points.  Australian core inflation eased in the final quarter of 2024 but remained above the RBA’s target.  The Australian Dollar consolidates gains against its American rival ahead of the announcement.  The Reserve Bank of Australia (RBA) will announce its first monetary

The US Dollar consolidates ahead of a possible breakthrough on Ukraine.   Traders brace for headlines that could emerge from Riyadh this week.  The US Dollar Index (DXY) is stuck in the mid 106-range and is looking for direction.  The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major

On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1702 as compared to Friday’s fix of 7.1706 and 7.2617 Reuters estimates. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and

Gold set to end the week up 0.80% despite Friday’s drop. US Retail Sales plunge, fueling US Dollar weakness and lower Treasury yields. Investors price in over one Fed rate cut, boosting bullion’s longer-term appeal. Gold price has fallen below $2,900 on Friday, yet it will end the week with solid gains of over 0.80%

Procter & Gamble stock sinks 4.75% on Friday. Dow Jones sheds 0.37% despite NASDAQ gains. BNP Paribas analyst cites volatility in US consumer staples category. US Retail Sales for January hit -0.9%, surpising market. Procter & Gamble (PG) stock was the worst performer in the Dow Jones Industrial Average (DJIA) on Friday. Normally a less

The Dow Jones index remained stuck below 44,750 on Friday. Retail Sales missed forecasts, prompting investor caution. The Dow is still poised to end the week in the green, but headwinds are building. The Dow Jones Industrial Average (DJIA) cooled on Friday, shedding around 160 points and waffling into the 44,600 region after US Retail Sales

The US Dollar Index fell close to 107.00 after Thursday’s sharp decline. US Retail Sales fell 0.9% in January, missing expectations and fueling rate cut speculation. US Treasury yields continue to decline with the 10-year yield below 4.50%. The US Dollar Index (DXY), which tracks the US Dollar’s performance against six major currencies, remains stable

The US Dollar (USD) is a little weaker in Europe today on the back of slightly lower US interest rates, ongoing optimism about an end to the war in Ukraine, and a US reciprocal tariff package which was hard to decipher. The market knew that the Commerce Department was due to deliver a big report

EUR/USD gained 0.7% on Thursday, bolstered by investor confidence. New tariff threats turn out to be more of the same: unclear and hypothetical. European data surprises nobody, US PPI inflation pressure eases slightly. EUR/USD caught a bid on Thursday, climbing seven-tenths of one percent and vaulting back over the 1.0400 handle. A general weakening in

Pound Sterling outperforms US Dollar on hopes of Russia-Ukraine truce The Pound Sterling (GBP) climbs to near the psychological resistance of 1.2500 against the US Dollar (USD) in European trading hours on Thursday. The GBP/USD pair strengthens as positive developments in peace talks between Russia and Ukraine have overcome the impact of hotter-than-expected United States (US)