Australian Dollar is trading broadly lower today, reflecting uncertainties that emerged after release of minutes from RBA meeting earlier this month. The minutes revealed that a hold was considered at the meeting. Arguments were finely balanced even though it eventually decided to hike 25bps. These revelations have stirred market doubts about the continuity of monetary
Dollar, yuan, yen and euro notes. Ullstein Bild Dtl. | Ullstein Bild | Getty Images From hawkish pauses to rate hikes and dovish tones, the world’s biggest central banks last week struck very different tones on monetary policy. The European Central Bank on Thursday hiked rates and surprised markets with a worsening inflation outlook, which
Share: Natural Gas price corrects from its daily highs after the release of upbeat macroeconomic housing data from the US, which supports the US Dollar and weighs on XNG/USD. Natural Gas pares earlier gains reached after Norwegian data showed lower-than-expected production in May, sparking supply fears. Despite bullish fundamentals, the longer-term technical trend remains bearish as long as prices
The USDJPY story is about 2 charts. The daily chart defined the topside where sellers showed up. The hourly chart is defining short term support. Looking at the daily chart, it stalled the rise when resistance against the November 21 high at 142.246 was reached. The high prices today reached 142.247 just above that level.
Air travel is certainly back as consumers return to the skies after years of covid-related curbs. The TSA reports that on Friday it screened 2.785m people, which is the highest number of passengers in a single day since 2019. Couple that with today’s surprise 21.7% jump in US housing starts and higher rates aren’t exactly
Bullion prices extended their losses on Tuesday on a stronger Dollar Index (DXY). Analysts expect gold to be range bound in today’s session with a bearish tilt. MCX August Gold futures were trading at Rs 59,176 per 10 grams in the opening trade and were unchanged as against their last close while July Silver futures
As US trading session commences, rebounds of Dollar and Yen seem to be gathering a bit more some steam. The broader financial market appears to be rather listless today, with major European indices roughly flat and US futures slightly down. There’s also no unified movement in the U.S. and European benchmark treasury yields. Investors appear
A member of the public walks through heavy rain near the Bank of England in May 2023. Dan Kitwood | Getty Images News | Getty Images LONDON — The Bank of England is “caught between a rock and a hard place” as it prepares for a key monetary policy decision against a backdrop of sticky
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Bitcoin (BTC) dominance, the measure of how much Bitcoin makes up of the total crypto market cap, has breached the 50% mark. On June 19 at 6 pm UTC, Bitcoin dominance hit just above 50% and has since settled to 49.9% at the time of publication, according to data from TradingView. This means that Bitcoin
Share: The Reserve Bank of Australia (RBA) published the Minutes of its June monetary policy meeting, citing that “board considered rate rise of 25bp or holding steady and reconsidering at later meeting.” Additional takeaways Arguments were “finely balanced” but board decided case for immediate hike was stronger. Hike would provide greater confidence inflation would return
People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate
Oil prices eased on Monday as questions over China‘s economy outweighed OPEC+ output cuts and the seventh straight drop in the number of oil and gas rigs operating in the United States. Brent crude fell 17 cents, or 0.2%, to $76.44 a barrel by 1319 GMT while U.S. West Texas Intermediate (WTI) crude lost 27
The forex markets are holding steady in a consolidative pattern today. Notably, Euro has remained largely unaffected by continued hawkish messages emanating from top ECB officials, who have merely echoed President Christine Lagarde’s suggestion that an interest rate hike is likely in July, while situation in September remains uncertain. Euro is the third weakest in
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Share: AUD/USD has shown a downside move to near 0.6840 amid a quiet market mood due to an extended weekend in the US. The appeal for the Australian Dollar has been trimmed ahead of RBA policy minutes and PBoC policy. AUD/USD is climbing higher in a Rising Channel pattern formed in which each pullback is considered