The day and week is ending with the GBP as the strongest and the JPY as the weakest. The JPY sharp fall was triggered by the Bank of Japan rate decision. The Bank of Japan (BOJ) decided to keep its short-term interest rate target at -0.1% and its 10-year Japanese Government Bond (JGB) yield target
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Gold rose on Friday as the dollar hovered near a month’s low, but expectations of more U.S. interest rate hikes this year capped gains. Spot gold gained 0.5% to $1,967.29 per ounce by 1217 GMT, en route a 0.3% advance for the week. U.S. gold futures was up 0.4% to $1,978.20. “The market turned a
Euro’s broad based rally continues today as supported by a chorus of hawkish comments from ECB officials. But Sterling is outperforming on anticipation that BoE will continue with tightening next week, and probably more afterwards. Despite the strong showings by European majors, Australian Dollar still leads the pack for the week. With the week drawing
Share: EUR/USD advances to new highs around 1.0970 on Friday. The continuation of the upside retargets the 1.1000 hurdle. EUR/USD maintains the bullish outlook well and sound for the fifth consecutive session on Friday, this time hitting new 5-week tops around 1.0970. Further gains remain well on the table for the time being. Against that,
This week, the Federal Reserve took a slightly more hawkish stance than expected. They decided to keep interest rates unchanged at a range of 5.00-5.25%, but they increased the projected terminal rate in the Dot Plot by 50 basis points. The FOMC chose to pause during this meeting to gather more economic data before making
It has been a storming run for AUD/USD ever since testing the 0.6500 mark as buyers have certainly not relented in the rebound to its highest levels since February this week. Here’s a look at the daily chart: The pair is down 0.2% to 0.6869 at the moment but it isn’t really hurting the technical
Gold prices traded in the red on Friday but managed to trade off two-month lows following a fall in the dollar index to levels below 103. MCX August gold futures were trading at Rs 59,330 per 10 grams, down Rs 25 or 0.04% while July silver futures rose Rs 192 per kg or 0.27% to
In the wake of BoJ’s decision to hold its monetary policy steady, we have seen an amplified sell-off in Yen, which is not surprising given the ongoing divergence in monetary policy with other major global central banks. The breaking of key levels in some crosses suggests that we might witness further declines in Yen, at
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Hong Kong lays out the red carpet for crypto exchanges While some jurisdictions (cough: America) have adopted a regulation-by-enforcement approach toward crypto, others are doing the opposite. According to a June 15 report from The Financial Times, the Hong Kong Monetary Authority is pressuring major financial institutions to accept crypto clients. But it’s not just
Share: Natural Gas consolidates the biggest daily jump in a month by retreating from three-week high. RSI conditions favor pullback moves from 3.5-month-old resistance line. April’s top restricts immediate downside, 50-EMA appears the key support. Natural Gas Price (XNG/USD) prints the first daily loss in five as it eases from the highest levels in three
The USDCAD is down-testing a key support target between 1.3207 and 1.32299. Looking at the daily chart below, that level was a ceiling in July and September 2022, then became a floor since breaking above also in September 2022. The level was retested in November 2022 and the swing low earlier this year in January
BusinessNZ Performance of Manufacturing Index (PMI) is still well under its longer run average of 53.0 BusinessNZ’s Director, Advocacy Catherine Beard: New Zealand’s manufacturing sector has remained in a relatively tight band of contraction for the last three months. … Beyond seasonal factors such as weather, comments tended to concentrate on slowing orders/deteriorating demand and
Gold price plunged Rs 550 to Rs 59,700 per 10 gram in the national capital on Thursday amid weak global trends, according to HDFC Securities. The precious metal had ended at Rs 60,250 per 10 gram in the previous trade. Silver also tumbled Rs 900 to Rs 72,600 per kilogram. “Gold extended its fall in
Euro is making notable gains following ECB’s decision to increase interest rates by a widely anticipated 25bps. The real kicker, however, is the significant upward revision of core inflation forecasts for both the current and following years, pushing the common currency up across the board. Swiss Franc capitalized on Euro’s rally, securing its spot as
Share: Initial Jobless claims totaled 262,000 in the week ending June 10, the weekly data published by the US Department of Labor (DOL) showed on Thursday. The print follows the previous week’s 261,000 (revised to 262,000) and came in above market expectations of 249,000. It matches the highest reading since October 2021. “The 4-week moving