Here is what you need to know on Thursday, September 19: Following the wild fluctuations seen in financial markets in the American session on Wednesday, volatility remains high early Thursday. The Bank of England (BoE) will announce monetary policy decisions during the European trading hours. Later in the day, the US economic calendar will feature…
EUR/USD may face challenges as recent Eurozone inflation data have strengthened the likelihood of an ECB rate cut. Friday’s US economic data raised uncertainty over the likelihood of an aggressive Fed rate cut in September. Chicago Fed President Goolsbee stated that Fed officials are starting to align with the broader market’s sentiment of rate adjustment….
The US Dollar trades sideways ahead of a very chunky data release on Thursday. Markets are still worried about headwinds for Europe and the Nvidia subpoena. The US Dollar Index retreats and flirts with a break below 101.00. The US Dollar (USD) trades softer on Thursday, with a lot of data points set to be…
S&P 500 recovered from weak Thursday close, and there were subtle clues (shared with clients) as to why interest rate sensitive plays (beyond Russell 2000) would do better than largecaps Friday – the whole week slated to be a strong one. Little wonder – rates were not protesting, and confidence in soft landing growing. All…
The New Zealand Dollar trades flat in Tuesday’s early Asian session. Reduced bets for a RBNZ rate cut and signs of stronger demand from China supported the Kiwi. Rising Middle East geopolitical risks might limit the pair’s downside. The US Producer Price Index (PPI) will be in the spotlight on Tuesday before the RBNZ rate…
GBP/JPY holds gains following unexpected dovish comments from BoJ Deputy Governor Shinichi Uchida. BoJ’s Uchida emphasized to maintain its current level of monetary easing for the time being. The Japanese Yen may appreciate due to increased risk aversion amid heightened Middle East tensions. GBP/JPY halts its losing streak that began on July 30, trading around…
The Japanese Yen pulls back from six-month highs due to slowing unwinding of carry trades. The downside of the JPY could be limited due to increasing odds of further rate hikes by the BoJ. The US Dollar faces challenges from rising expectations of a 50-basis point rate cut by the Fed in September. The Japanese…
EUR/USD gains traction around 1.0915 in Monday’s early Asian session. The weaker-than-expected US Nonfarm Payrolls have undermined the US Dollar (USD). Stubborn inflation in the Eurozone raised doubts over market expectations for more ECB rate cuts in 2024. The EUR/USD pair extends the rally near 1.0915 during the early Asian session on Monday. The uptick…
The Japanese Yen holds ground, possibly due to verbal intervention by Japanese authorities. Japan’s Masato Kanda said he would intervene around the clock if necessary. The US Dollar edges higher as Fed officials keep delaying the timing of the first interest rate cut in 2024. The Japanese Yen (JPY) holds its position, possibly due to verbal…
The Australian Dollar holds positive ground on Thursday. The Aussie edges higher as Australian PMI reading has maintained expansion in June. Investors await the advanced US S&P Global PMI data, which is due on Friday. The Australian Dollar (AUD) trades with mild gains in Thursday’s early Asian session. The Aussie edges higher after the recent Australian…