FX

Analysts at ABN Amro share an update to their Federal Reserve (Fed) policy outlook following the latest inflation data. Total of three 25bp cuts expected in 2024 “We now expect the Fed to start cutting rates in July (previously June), with a pause in September, and a total of three 25bp cuts expected in 2024

Silver prices (XAG/USD) rose on Friday, according to FXStreet data. Silver trades at $29.11 per troy ounce, up 2.30% from the $28.46 it cost on Thursday. Silver prices have increased by 14.29% since the beginning of the year. Unit measure Today Price Silver price per troy ounce $29.11 Silver price per gram $0.94 The Gold/Silver

Dow Jones index is posting moderate gains after having opened with losses on Thursday. US PPI data has provided some relief to investors although market sentiment remains frail. The Dow Jones index forms a bearish Head & Shoulders pattern that might anticipate deeper correction.  The Dow Jones Industrial Average (DJIA) is showing marginal gains following

The European Central Bank will likely maintain rates on hold once again. ECB President Christine Lagarde could change its cautious tone and hint at an upcoming rate cut.   US CPI was hotter than anticipated in March, triggering risk aversion. EUR/USD bearish case gains momentum as the pair stands below 1.0800. The European Central Bank (ECB)

Gold drops as US inflation data complicates Fed rate cut intentions. Investors rethink Fed’s monetary approach amid persistent inflation as they now expect two rate cuts in 2024. US real yields rise above 2%, challenging Gold post-CPI release. Gold price is on the defensive on Wednesday following the release of March inflation figures in the

The Mexican Peso has resumed its uptrend despite cooler-than-expected inflation data for March.  The slowdown in price pressures was not substantial enough to change the overall outlook for monetary policy.  Interest rates, a key FX driver, are likely to remain elevated in Mexico, supporting the Peso going forward.   The Mexican Peso (MXN) is trading higher

The Reserve Bank of New Zealand is set to hold the interest rate at 5.50% on Wednesday. The language in the policy statement will offer cues on the RBNZ interest rate outlook. The New Zealand Dollar braces for a big reaction to the RBNZ policy announcements. The Reserve Bank of New Zealand (RBNZ) is widely

The Mexican Peso continues rising to almost nine-year highs against the US Dollar (USD).  Mexican inflation data for March is scheduled for release on Tuesday and could cause volatility for the Peso.  A higher-than-expected reading would indicate interest rates remaining elevated, increasing demand for MXN.  The Mexican Peso (MXN) is trading at eight almost nine-year

Wall Street opens the week with marginal gains with investors relieved by decline in Oil prices. Dow Jones treads water near 39,000 level as rebound from Friday’s high stalls.  Bias remains skewed to the downside with all eyes on Wednesday’s US CPI figures. The Dow Jones Industrial Average (DJIA) has opened the week with minor

AUD/JPY appreciates due to the likelihood of RBA to avoid rate cuts. Australia’s 10-year bond yield surged to 4.1%, marking its highest level in over a month. The diminished geopolitical tension could weaken the safe-haven JPY. AUD/JPY continues to move in the positive direction, rising to near 99.90 during the European session on Monday. This

Mexican Peso strengthens against US Dollar, with USD/MXN dropping to 16.48 in reaction to upbeat US labor market figures. Despite a robust US jobs report, increased risk appetite drives equity gains, a tailwind for the Mexican currency. Fed officials maintain a cautious stance on rate adjustments, influencing market expectations for future monetary policy direction. The

Silver’s surge to multi-year highs reflects strong precious metals momentum, undeterred by US job market. Technical outlook hints at more gains, with resistances at $27.50, $28.00. RSI dip may prompt support tests at $27.00, $26.12 for future direction clues. Silver soared sharply and finished the week with gains of close to 10%, hitting three-year highs

Gold hits record highs, defying US Nonfarm Payrolls spike and US Dollar gains, highlighting safe-haven status. Fed rate cut outlook adjusted after employment data, central bank remarks. Geopolitical tensions and strong demand from China bolster Gold’s market strength. Gold rallied to a new all-time high, ignoring a strong March Nonfarm Payrolls report in the United

“I believe it’s much too soon to think about cutting interest rates,” Federal Reserve Bank of Dallas President Lorie Logan said on Friday, citing upside risks to inflation. Key takeaways “Need to see more of the uncertainty resolved about which economic path we’re on.” “Increasingly concerned about upside risk to the inflation outlook.” “FOMC should

A robust US Nonfarm Payrolls report for March propels the Greenback higher, impacting the EUR/USD. The Eurozone’s mixed economic indicators, including Germany’s Factory Orders and Retail Sales, contrast with the strong US employment landscape. Further downside seen at EUR/USD as technical suggests potential for declines below the 1.0800 threshold. The Euro registers minimal losses of

USD/CAD may find an immediate resistance area around the weekly high of 1.3588 and psychological level of 1.3600. A break above March’s high of 1.3614 could lead the pair to meet the major barrier of 1.3650. The immediate support appears at 1.3550, followed by the 50-day EMA at 1.3522. USD/CAD extends its gains for the

Mexican Peso is slightly up versus the US Dollar on cautious trading as Consumer Confidence deteriorates. Decrease in Mexico’s Consumer Confidence and Manufacturing PMI slowdown highlight challenges amid Banxico’s rate adjustments. Remittances remain a key support for the Peso, overshadowing near-shoring gains amid broader economic considerations. The Mexican Peso prints minuscule gains against the US

Here is what you need to know on Thursday, April 4: The US Dollar (USD) came under renewed selling pressure on Wednesday and the USD Index closed the second consecutive day in negative territory. S&P Global will release revisions to Services PMI data for Germany, the Eurozone and the UK on Thursday. Later in the