The Dow Jones gained another 400 points on Friday. After a brief lull, the major index is back into its post-election rally. Investors are pivoting out of the usual tech rally into consumer goods. The Dow Jones Industrial Average (DJIA) has snapped its recent soft patch, extending its midweek bullish pivot into a firm Friday…
The Japanese Yen fails to capitalize on its modest intraday gains amid BoJ rate hike uncertainty. Reduced bets for aggressive Fed rate cuts revive the USD demand and lend support to USD/JPY. Intervention fears and geopolitical risks could help limit any further losses for the safe-haven JPY. The Japanese Yen (JPY) surrenders a major part…
Mexican Peso continues its upward trend for the fourth consecutive day amid favorable risk sentiment. Banxico’s recent rate cut to 10.25% reflects ongoing inflation concerns with forecasts adjusted to 4.7% end for 2024. Moody’s adjustment of Mexico’s credit outlook to negative highlights potential fiscal and economic challenges from judicial reforms. Traders monitor potential impact of…
The USD retreated on Friday after hitting yearly highs near 106.60. The market has responded to Fed Chair Powell’s comments with odds of a December cut falling to 60%. Retail Sales expanded by 0.4% in October vs. the previous month, surpassing expectations. The US Dollar Index (DXY), which measures the value of the USD against…
The Greenback overturns intraday losses and is set to flip in the green. Fed Chairman Jerome Powell surprised markets by casting doubts over December’s interest-rate cut. The US Dollar index surges back to the fresh one-year high from Thursday. The US Dollar (USD) sees earlier declines soften a bit on Friday with US Retail Sales…
Crude Oil support is under pressure as the IEA report adds to the bearish outlook. The monthly report from the IEA bears no change in the narrative for the 2025 outlook. The US Dollar Index rallies further after President-elect Trump secures a majority in both Senate and House. Crude Oil steadies and consolidates recent losses…
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…
The Mexican Peso weakens on rumors Donald Trump has offered the job of trade representative to Robert Lighthizer. The former US trade rep is known for his protectionist stance and could squeeze Mexico in future talks. The Peso is further weighed by concerns the Republicans will win a majority in Congress, giving them a “clean…
US Dollar rises after UoM positive data. Consumer confidence improves, inflation expectations were mixed. FOMC cuts rates by 25 bps, economic growth remains solid. The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, rose on Friday. This comes after positive University of Michigan data and the…