Japanese Yen Soars on Hawkish BoJ Policy, Eyes on Fed Decision
The Japanese Yen (JPY) is riding a wave of recovery against the US Dollar (USD), boosted by the Bank of Japan’s (BoJ) unexpectedly hawkish policy announcements. The BoJ surprised markets by raising the short-term rate target and outlining a plan to taper Japanese government bond (JGB) purchases. BoJ Governor Kazuo Ueda explained the rationale behind […]
Pound Sterling Slips as BoE Rate Cut Bets Rise, Fed Policy Looms Large
The Pound Sterling (GBP) weakens against most major peers on Tuesday, excluding the Japanese Yen, as market speculation for a Bank of England (BoE) interest rate cut in August intensifies. A recent Reuters poll suggests a greater than 58% probability of a 25 basis point reduction, although some uncertainty remains due to persistent service sector […]
Silver Price Stabilizes Near $28 Ahead of Fed Policy Announcement
Silver price (XAG/USD) is trading within a narrow range around $28.00 during Monday’s North American session, as investors await the Federal Reserve’s (Fed) monetary policy decision scheduled for Wednesday. Market Sentiment: Market participants anticipate a dovish stance from the Fed, with expectations of an unchanged interest rate decision for the eighth consecutive time. The Fed […]
EUR/USD Surges Despite Hotter-Than-Expected US Core PCE Inflation Data
The EUR/USD pair rose above 1.0850 in Friday’s New York session, defying expectations as the US Dollar weakened despite the release of hotter-than-expected US core Personal Consumption Expenditures (PCE) price index data for June. Market Reaction: The core PCE inflation, the Federal Reserve’s preferred gauge, came in at 2.6% year-on-year, exceeding the forecast of 2.5%. […]
Gold Prices Slide Amidst Technical Selling and Positive US PMI Data
Gold prices (XAU/USD) experienced a decline on Thursday, trading around $2,370, due to a combination of technical selling and marginally positive preliminary US S&P Global Purchasing Managers Index (PMI) data for July. The weaker sentiment in global stock and commodity markets, driven by global growth concerns, also contributed to gold’s downward movement. Market Drivers: Technical […]
Australian Dollar Continues Downward Spiral Amidst China’s Economic Concerns
The Australian Dollar (AUD) faced further pressure on Wednesday, dropping below 0.6600 against the US Dollar (USD). This decline was primarily attributed to growing worries about China’s economic health, compounded by falling iron ore prices and weaker-than-expected Australian Judo Bank Flash PMI data. Despite the apparent weakening of the Australian economy, the Reserve Bank of […]
NZD/USD Continues Downward Slide, Bearish Sentiment Solidified
The NZD/USD pair extended its decline on Tuesday, falling 0.35% to 0.5960. The inability of bulls to counter selling pressure led to a further descent below the key 0.6000 level, reaching lows last seen in early May. This move reinforces the bearish sentiment surrounding the pair. Additionally, a confirmed bearish crossover between the 20 and […]
USD/CHF Shows Slight Gains Amidst Political Developments and Anticipation of Economic Data
The USD/CHF pair experienced a minor increase on Monday, reaching 0.8895, as markets processed the news of US President Joe Biden’s withdrawal from the presidential race. This unexpected development has triggered a shift in risk appetite among investors, potentially limiting the upside for the pair. While Monday appears relatively calm, market participants are gearing up […]
Pound Sterling Slumps on Disappointing Retail Sales Figures
The Pound Sterling (GBP) is experiencing a significant decline against major currencies during Friday’s London session. This downturn follows weaker-than-expected UK retail sales data for June, which showed a steeper contraction of 1.2% compared to the 0.4% decline forecast. The sharp drop in retail sales, a key indicator of consumer spending, suggests that households are […]
NZD/JPY Price Analysis: Temporary Rebound Amidst Bearish Outlook
The NZD/JPY pair experienced a minor recovery on Thursday, reaching 95.15, but still faces a significant weekly loss of 1.50%, reflecting an overall negative sentiment. Technical indicators show persistent bearish dominance despite the recent uptick. While the Relative Strength Index (RSI) has improved, it remains within the negative zone. The Moving Average Convergence Divergence (MACD) […]
