Indian Rupee loses traction on Tuesday amid a stronger USD. Fed is expected to hold rates steady in the range of 5.25%–5.50% at its March meeting. The US Fed interest rate decision on Wednesday will be the highlight of this week. Indian Rupee (INR) weakens on Tuesday on US Dollar (USD) purchases by state-run banks.
FX
Natural Gas prices are popping back above $1.80. European gas prices under pressure with Norwegian flow facing hiccups. The US Dollar Index trades in the mid-103.00 range ahead of two big central bank meetings. Natural Gas prices (XNG/USD) starts off in the green this Monday with traders bracing for actions from Russia after Vladimir Putin
USD/CAD appreciates to continue its winning streak on Monday. US Dollar could gain ground on expectations of the Fed maintaining higher interest rates to combat inflation. The higher WTI price could limit the losses of the Canadian Dollar. USD/CAD kicks off the week with its third consecutive day of gains on Monday, inching higher to
The daily RSI shows a rise in selling traction, supported by the MACD depicting growing red bars. The hourly RSI indicates oversold conditions, signaling a potential pullback or bullish correction in the short term. Despite daily bearish tendencies, the pair still holds the 200-day SMA. The NZD/USD pair declined to 0.6086, with a significant 0.77% downturn
Gold retreats from the $2,180 mark, reacting to hot US inflation data and Fed’s cautious stance on policy easing. Rise in US Treasury yields post-PPI data release dampens XAU/USD’s appeal despite risk-off market sentiment. Gold remains subdued as Treasury yields inch higher and the US Dollar strengthens. Gold spot retreated from around the $2,180 area
EUR/USD has fallen to the 1.0800s, close to a critical level for the short-term trend. Further weakness could tip the near-term outlook in favor of bears. Empire State Manufacturing, Michigan Sentiment, US Industrial Production and commentary from ECB’s Nagel round off the week. EUR/USD is trading in the 1.0800s on the last day of the
Mexican Peso sees modest uplift as US inflation data tempers Fed easing expectations. Industrial Production in Mexico shows resilience, reinforcing views on potential Banxico rate adjustments. Deputy Governor Omar Mejia hints at upcoming rate cuts, with a focus on maintaining restrictive monetary policy. US Industrial Production recovery and shifts in consumer sentiment barely move the
EUR/USD has seen some movement in the first two months of the year but remains relatively rangebound between the 1.0750 and 1.1000 levels. Economists at the National Bank of Canada analyze the pair’s outlook. Some volatility for the Euro expected over the next quarters We expect some volatility for the Euro over the next quarters,
Indian Rupee trades on a negative note on Friday amid a stronger US Dollar. India’s Wholesale Price Index-based inflation dropped to a four-month low, weaker than expected. Investors will focus on the Indian Trade Balance data and US preliminary Michigan Consumer Sentiment, due on Friday. Indian Rupee (INR) loses momentum on Friday. The uptick in
Gold is enjoying a remarkable start to the year. Economists at MUFG Bank analyze the yellow metal’s outlook. Gold’s structural resilience has further to run Yet, beyond the likely solidification of Fed cut expectations in the coming weeks and months, it is the structural channels of physical demand for Gold that excites us most, which
Share: The Japanese Yen is undermined by diminishing odds for an early interest rate cut by the BoJ. A modest USD uptick also lends support to USD/JPY, though the Fed uncertainty might cap gains. Traders might prefer to wait on the sidelines ahead of the BoJ and FOMC policy meetings next week. The Japanese Yen
Share: Economists at Commerzbank analyze what is relevant regarding the upcoming Bank of Japan’s (BoJ) meeting next week. The “March vs. April” question is not really important This is another one of those things I can’t understand: the question of whether the BoJ will raise its key interest rate next week or at the next
Share: MicroStrategy stock climbed more than 7% on Tuesday. That performance follows Monday’s 4% gain. CEO Michael Saylor says the firm has acquired another 12,000 BTC. Daily chart shows MSTR has further room to run. MicroStrategy stock (MSTR) gained another 7% on Tuesday, protecting shareholders from a worrying candlestick pattern at the start of the
Share: New Zealand Dollar weakens against the US Dollar following the latest US inflation figures for February. They paint a picture of stubbornly hot inflation, which could make the Fed keep interest rates elevated to cool. The NZD/USD pair is falling back down towards its range lows in the 0.6080s. The New Zealand Dollar trades
Share: The US Consumer Price Index is set to rise 3.1% YoY in February, matching January’s increase. Annual Core CPI inflation is expected to edge lower to 3.7% in February. The inflation report could provide fresh clues as to the timing of the Fed policy pivot. The high-impact US Consumer Price Index (CPI) inflation data
Share: WTI Oil sideways in a broader range trade with Aramco scrubbing production boost. Oil traders are still positioned for more upside potential with bullish option market positioning. The US Dollar Index steady below 103.00, with data-driven week ahead while Fed enters blackout period. Oil prices falling in the red with a Risk Off tone in
Share: GBP/USD consolidates amid a muted US Dollar on Monday. US Nonfarm Payrolls increased by 275K in February, against the expected 200K. Traders await employment data to gain fresh impetus on the United Kingdom’s labor market. GBP/USD hovers around 1.2850 during the Asian session on Monday, maintaining a positive sentiment to potentially extend its winning
Share: US NFP revisions worry the market on Friday. Unemployment Rate rises to 3.9%, above 3.7% consensus. China raises $27 billion investment vehicle to produce advanced chips. NASDAQ drops a full percentage point, while Nvidia loses 5%. Nvidia (NVDA) stock fell more than 5% on Friday after the US Nonfarm Payrolls (NFP) data for February distressed the market.
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