Despite the softer US Dollar, the EUR/USD pair is trading weaker around 1.0765. This comes after the German Harmonized Index of Consumer Prices (HICP) rose by 2.3% year-on-year in March, the lowest level seen since June 2021. The weaker US Dollar Index (DXY) below the 105.00 mark has provided some support to the major pair,
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In a recent statement, Cleveland Federal Reserve President Loretta Mester suggested that interest rate cuts are still on the horizon for this year. However, she made it clear that the upcoming May policy meeting will not be the time for such a move. Mester’s perspective was echoed by San Francisco Fed President Mary Daly, who
In recent trading sessions, there has been a confirmed breakout from a small cup-and-handle pattern, with current trading indicating that the larger cup-and-handle pattern is nearing completion. The smaller pattern is a precursor to the completion of the larger pattern, suggesting that USD/JPY values are poised for a significant increase, which in turn could spell
The recent release of positive data regarding the US manufacturing sector has sent the EUR/USD pair tumbling to its lowest point since February 15th of this year. The Institute for Supply Management (ISM) reported a significant increase in the manufacturing business activity index, climbing to 50.3 points in March from 47.8 in the previous month.
Oil prices have been on an upward trajectory, hitting five-month highs and showing consistent growth in every trading session since March 27. The price of a barrel of WTI started the day on Tuesday at $84.6 before slightly retracting by midday in Europe. This recent surge in oil prices can be attributed to various factors,
The recent seesawing of USD/JPY in the narrow range of the 151.000s has left many traders unsure of the next move for this currency pair. Threats of intervention from Japanese authorities have kept bulls at bay, while strong US data has prevented bears from taking control. The speculation on which direction USD/JPY will head next
In a recent report, a government panel in Japan emphasized the importance of shifting the country’s economic policy focus away from crisis-mode stimulus towards achieving private sector-driven economic growth. This recommendation comes in response to the central bank’s decision to end eight years of negative interest rates. The panel highlighted the need for policy changes
UBS recently unveiled a new share repurchase program amounting to $2 billion, with a significant portion of $1 billion set to be executed within the year. This move comes on the heels of the completion of the bank’s 2022 buyback, where 298.5 million shares were repurchased, representing 8.62% of its stock valued at $5.2 billion.
The Japanese Yen seems to be facing significant challenges in the foreign exchange market, as it fails to attract buyers despite fears of intervention and a risk-off impulse. The cautious outlook of the Bank of Japan (BoJ) is one of the main factors that continue to undermine the JPY, while lending support to the USD/JPY
After the release of U.S. data showing the first expansion in manufacturing since September 2022, the U.S. dollar maintained its position close to a 4-1/2-month high against major peers. This unexpected positive data resulted in traders delaying their expectations for the Federal Reserve’s first interest rate cut of the year. The dollar’s strength was further
The demand for exchange-traded funds (ETFs) among investors is showing no signs of slowing down. According to Steve Sachs, the global chief operating officer of Goldman’s ETF Accelerator, firms that do not offer ETF products may be at risk of losing business in the long run. Sachs emphasizes that the opportunity cost of not providing
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