Share: AUD/JPY has dropped sharply to near 87.80 as Australian inflation has softened further to 6.8%. The collaborative effect of weaker Retail Sales and softening price index would support the RBA in keeping policy unchanged. BoJ Kuroda remained extremely dovish for further monetary policy as the sustainable inflation target has not been met yet. The
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As European treasury yields rebound, the Euro and Sterling gains against Dollar and Swiss Franc today. However, their upside remains limited by near term resistance. Also, momentum against commodity currencies appears less pronounced. The greenback is trading lower amid generally stabilizing risk sentiment, but market fluctuations remain limited, with European indexes and US futures fluctuating
On the daily chart below for USDCAD, we can see that after reaching the top at 1.3862, the market fell as the failure of the Silicon Valley Bank and the fears around the banking sector made the market to reprice lower future interest rates expectations dragging the US Dollar down with it. The market then
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Gold and silver futures were trading at day’s high in the second half of Tuesday’s session triggered by slippages in the greenback. The Dollar Index was down 0.29% at 102 against the basket of six major currencies. Movement in gold price is inversely related to the dollar trajectory. The MCX April Gold futures were trading
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, March 27, 2023. Brendan McDermid | Reuters Investors are too confident the Federal Reserve will cut interest rates this year and could pay the price later, according to asset management giant BlackRock and others on Wall Street. Market pricing
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On March 28, Canadian investment firm Galaxy Digital, operated by blockchain personality Mike Novogratz, disclosed that it had achieved a preliminary pre-tax income of $150 million from Jan. 1, 2023, to March 24, 2023. The results followed a $1 billion net loss in 2022, which was largely attributed to a $659 million unrealized loss on
Share: EUR/USD extends the upside bias beyond 1.0800. Further gains could see the monthly high near 1.0930 revisited. EUR/USD adds to the promising start of the week and surpasses the key 1.0800 hurdle on Tuesday. The continuation of the bullish move appears favoured for the time being. Against that, the pair could now set sail
Forex markets are currently navigating a landscape of uncertainty, as mixed currency performance contributes to a lack of clear direction. Dollar has experienced a decline in Asian session, but still hovers within familiar boundaries against other major currencies. Meanwhile, Euro has managed to strengthen against the greenback but appears less robust in other pairs. Yen,
On the daily chart below for AUDUSD, we can see that after breaking above the downward trendline, the buyers started to have the upper hand and even managed to breach the 0.67 resistance. The moving averages are on the verge of crossing upwards, which would be a bad omen for the sellers. We can see
The peak of the optimism today came right at the European open and since then, we are seeing a bit of a hiccup as stocks are unable to carry forward the slightly better mood from Asia. S&P 500 futures are down 4 points, or 0.1%, currently: Meanwhile, the bank index in Europe has also turned
Gold prices edged up on Tuesday as the U.S. dollar eased, although an improvement in risk appetite after efforts by regulators to contain worries over the global banking system limited the safe-haven metal’s appeal . FUNDAMENTALS * Spot gold was up 0.1% at $1,958.85 per ounce, as of 0048 GMT. U.S. gold futures rose 0.3%
Share: AUD/USD stays firmer for the second consecutive day, picks up bids after upbeat data. Australia Retail Sales grew 0.2% MoM in February, versus 0.4% expected and 1.9% prior. Aussie buyers also cheer upbeat comments from Australian diplomat, US Treasury as they amplify banking optimism. RBA’s Ellis, US CB Consumer Confidence eyed for intraday directions,
The financial markets are sending mixed messages today, with risk sentiment seemingly improving as European indexes and US futures trade higher. US and German 10-year yields are also recovering. However, the currency markets paint a different picture, with Swiss Franc leading as the best performer, followed by Canadian Dollar and Sterling. In contrast, Yen is
The major US stock indices are closing mixed on the day. The Dow and the S&P are closing higher. The Nasdaq fell. Higher interest rates took some of the wind out of some of the high tech mega cap stocks which become a “safe haven” through the banking crisis. Energy, financials and industrials led the