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
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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)
WTI attracts some sellers to around $71.10 in Thursday’s early Asian session. Trump called Putin and Zelenskiy to discuss ending the war in Ukraine. US crude oil stockpiles climbed by 4.07 million barrels last week, according to the EIA. West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $71.10 during the early Asian session on Thursday.
The US Dollar trades fairly flat ahead of the US CPI release on Wednesday. All eyes are back on Fed Chairman Jerome Powell, heading into his second day at Capitol Hill. The US Dollar Index (DXY) is trading sideways around 108.00, still looking for direction. The US Dollar Index (DXY), which tracks the performance of
US President Donald’s trade adviser Peter Navarro said late Tuesday that Australia was “killing the aluminium market”, the day after Trump signed executive orders for import tariffs on some metals. Australia hopes to secure exemptions to the new taxes on steel and aluminium. Trump on Monday signed executive orders, which will see 25% taxes placed