Following a significant post-CPI sell-off, Dollar’s plunge appears to be losing some momentum during today’s Asian trading session on oversold conditions. However, the greenback is yet to demonstrate any considerable signs of a rebound. Investors seem buoyed by the waning likelihood of Fed extending its tightening phase beyond the imminent July interest rate hike. As
Share: The Yuan has weakened since mid-April. Economists at Commerzbank analyze CNY outlook. Weaker for longer We forecast USD/CNY to largely stay beyond 7.2 through Q3 before falling back to around the key 7 mark in Q4 and below 7 in 2024 due to the anticipated softening of the Dollar. EUR/CNY will likely rise in
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The AUDUSD had a volatile up-and-down price action in the Asian/Pacific session. The price action initially saw the pair extend above its 100 and 200-day moving averages, the top of an up-and-down “red box”, and the 38.2% retracement of the move down from the June 16 high. The initial move to the upside stalled the
High-yield 3.857% WI level at the time of the auction 3.847% Tail 1.0 basis points versus six-month average of 1.8 basis points Bid to cover 2.53X versus six-month average of 2.38X Directs (a measure of domestic demand) 19.9% versus six-month average of 20.0% Indirects (a measure of international demand) 67.7% versus six-month average of 61.8%
Oil prices were little changed on Wednesday in a market caught between expectations supply cuts by the world’s biggest fuel exporters will drive prices higher and concerns global economic weakness will sap demand. Brent futures had edged up 20 cents to $79.60 a barrel by 1145 GMT, while U.S. West Texas Intermediate (WTI) crude rose
Dollar’s decline accelerates again following US inflation data that reflected a more substantial than anticipated slowing in both core and headline CPI for June. Although the underwhelming data might not deter Fed from delivering another rate hike later this month, it may alleviate pressure for subsequent increases. In response to the data, US stock futures
Inflation fell to its lowest annual rate in more than two years during June, the product both of some deceleration in costs and easy comparisons against a time when price increases were running at a more than 40-year high. The consumer price index increased 3% from a year ago, which is the lowest level since
Share: NZD/USD rose above 0.6295, its highest since May 23. US CPI declined to 3% YoY vs the 3.1% expected, fuelling a decline in US Treasury yields. RBNZ held rates steady, just as expected. On Wednesday, the NZD/USD gained bullish momentum following soft Consumer Price Index (CPI) inflation figures. As a reaction, the US DXY
Ripple may be holding its breath a bit longer after a United States District Judge refused to rule on if the secondary sale of LBRY Credits (LBC) constitutes a security. On July 11, New Hampshire District Court Judge Paul Barbadoro made the ruling in the case the United States Securities and Exchange Commission (SEC) brought
In the earlier post and video on the EURUSD at the start of the NY session, I expected buyers near what was resistance until broken yesterday That area came between 1.09618 and 1.09759. The price of the EURUSD moved to the high of that swing area, stalled and restarted a run to the upside. What
The dollar looks bound for another leg lower now and we might just get a confirmation of that after the US CPI data today. Here’s how the charts are playing out: EUR/USD on approach to the April and May highs of 1.1075-95 USD/JPY breaking back below the 140.00 mark GBP/USD venturing near a test of
Gold prices were marginally up in Wednesday’s trade amid a weaker dollar and retreat in US treasury yields, and ahead of the US CPI data due later today. The June gold futures were trading at Rs 58,860 per 10 grams on the MCX at 10.13 am and were up by Rs 87 or 0.15% from
Dollar is facing an intensified selloff in today’s Asian trading session, with the currency’s decline appearing to accelerate. The return of risk-on sentiment, signaled by overnight gains in major US stock indexes, has added additional weight on the greenback. Market watchers are eagerly anticipating the release of US CPI data today, as they seek further
Share: There is scope for GBP/USD to revisit the key 1.3000 mark in the next few weeks, suggest, Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: We highlighted yesterday that “there is room for GBP to rise further.” We added, “1.2950 is unlikely to come into view.”
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