The US Dollar trades mildly up as the possible escalation in the Middle East conflict drives flows towards the Greenback. Fed speakers are starting to align with market expectations for gradual to no rate cuts this year. The US Dollar Index rally could pick up steam if Donald Trump leads further in the polls. The…
The Australian Dollar appreciates following the PBoC’s rate cuts on Monday. The PBoC has reduced the 1- and 5-year Loan Prime Rate to 3.10% and 3.6%, respectively. The Aussie Dollar appreciated as domestic upbeat labor data has lowered the odds of the RBA’s rate cut this year. The Australian Dollar (AUD) extended its winning streak…
The Australian Dollar rises as the solid employment data diminish the odds of RBA’s rate cuts in 2024. China’s Gross Domestic Product is expected to report 4.5% growth YoY in Q3, compared to the previous 4.7% reading. The US Dollar received support from a solid US Retail Sales report, fueling the likelihood of the Fed delivering…
The Indian Rupee trades flat in Wednesday’s early European session. RBI’s MPC decided to keep the repo rate unchanged at 6.5% in its October meeting on Wednesday. Lower crude oil prices and potential RBI’s foreign exchange intervention might underpin the INR. Investors await the FOMC Minutes, which is due on Wednesday. The Indian Rupee (INR) trades on…
EUR/USD trades firmer near 1.0985 in Tuesday’s early European session. ECB policymakers continue to set the stage for an easier policy stance. Traders push back bets on aggressive Fed rate cuts in the November meeting. The EUR/USD pair extends its recovery to around 1.0985 on Tuesday during the early European trading hours. The major pair…
The Chinese stock market is closed for a national holiday, but futures and ETFs are trading and are on another strong run today. The Hang Seng Index is up 9.6% from its close on 30 September (there was no trading on Tuesday), the second strongest rise since the surge on 16 March 2022. Then it…
Asian equities trades were mixed on Monday. Chinese stocks close sharply higher due to Beijing’s stimulus measures. Nikkei was down over 4.80% after Ishiba won the LDP election. Asian stock markets trade mixed on Monday. The Chinese stocks lead gains on more policy measures in China, while the concerns Japan’s new Prime Minister favores normalizing interest rates…
Federal Reserve (Fed) Governor Lisa Cook said on Thursday that she endorsed the 50 basis points (bps) interest rate cut last week as a way to address increased “downside risks” to employment, per Reuters. Key quotes “I wholeheartedly supported the decision.“ “That decision reflected growing confidence that, with an appropriate recalibration of our policy stance,…
The Japanese Yen depreciates, likely due to thin trading conditions stemming from the holiday on Monday. BoJ Governor Ueda stated that the central bank will continue to adjust the level of monetary easing as needed. The US Dollar receives support as Treasury yields improve. The Japanese Yen (JPY) extends its losses for the third consecutive…
EUR/GBP extends its decline as the Pound Sterling gains support from the BoE’s decision to maintain its interest rate. UK Retail Sales rose by 1.0% MoM in August, following a prior increase of 0.5%. Germany’s Producer Price Index (MoM) recorded a consistent increase of 0.2% for August. EUR/GBP continues to lose ground, trading around 0.8390…