The Australian Dollar receives support from the hawkish comments from the RBA Governor Michele Bullock. Australia’s seasonally adjusted Unemployment Rate held steady at 4.1% in October for the third consecutive month. Traders are now shifting their focus to the US October Producer Price Index (PPI) data, set to be released on Thursday. The Australian Dollar…
The Australian Dollar loses ground amid concerns over potential tariffs on Chinese goods from US President-Elect Donald Trump. Australia’s Westpac Consumer Confidence index increased by 5.3% in November, reaching 94.6 points. Traders await the US Consumer Price Index data release on Wednesday for insights into future US policy. The Australian Dollar (AUD) extends its losses…
NZD/USD gains traction to near 0.5965 in Monday’s Asian session. RBNZ two-year inflation expectations increase to 2.12% QoQ in Q4. Trump trades might lift the USD and cap the upside for NZD/USD. The NZD/USD pair rebounds to around 0.5965 on Monday during the Asian trading hours. The pair edges higher after an uptick in the…
AUD/USD falls as the USD regains strength. RBA holds rates steady but remains hawkish, citing inflation risks. The Fed’s neutral outlook suggests caution regarding future rate cuts. The AUD/USD pair declined by 1.25% to 0.6600 on Friday, continuing its downtrend. The renewed strength of the US Dollar weighs on the pair despite improved risk sentiment….
USD/CAD regains footing as anticipation for another Bank of Canada interest rate cut mounts due to flat economic growth in August. US PCE core inflation remains at 2.7% in October, slightly above market expectations. US Initial Jobless Claims fell to 216K in the week ending October 25, below the market’s consensus. The USD/CAD pair gained…
EUR/USD tests the upper boundary to re-enter the descending channel pattern. If the 14-day RSI falls below the 30 level, it would signal an oversold condition. A return to the descending channel could lead the pair to navigate the region around channel’s lower boundary at 1.0670. EUR/USD inches lower for the second successive day, trading…
NZD/USD retreats further, dropping below 0.6000. Oversold RSI points to possible corrective bounce, but bearish momentum remains strong. The pair stands in lows since early August. The NZD/USD currency pair has extended its downtrend, with bears maintaining a firm grip as selling momentum builds. During Friday’s session, the pair fell by 0.60% to 0.5980, hitting…
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…
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…