The U.S. Dollar Index has gained momentum in the currency market as traders react to the positive report on Retail Sales. The report indicated that Retail Sales increased by 0.6% month-over-month in December. This news has boosted the confidence of traders in the US economy, leading to an increase in the value of the dollar.
Forecasts
The USD/JPY currency pair experienced a significant rally of 1.03% on Tuesday, following a previous gain of 0.55%. This surge resulted in the pair’s session closing at 147.178, after fluctuating between a low of 145.582 and a high of 147.310. In the upcoming days, the USD/JPY’s performance will heavily depend on several factors such as
The Westpac Consumer Confidence Index for January showed a decrease of 1.3% to 81.0. This was contrary to the forecasted increase of 0.5% to 82.5 by economists. Consumer confidence trends are closely monitored by the Reserve Bank of Australia (RBA) as they can serve as an indicator of consumer spending behavior. A decline in consumer
Consumer spending plays a crucial role in shaping the overall economy and influencing interest rates. Recent trends in Australia indicate a downward trajectory in consumer spending, which can have a dampening effect on inflationary pressures. Economists predict a 1.5% increase in ANZ-Indeed Jobs Ads for December, following a significant 4.6% decline in November. These job
The past trading session saw the EUR/USD pair closing slightly higher at 1.09736, representing a modest increase of 0.01%. Similarly, the GBP/USD pair experienced an uptick and closed at 1.27628, marking a rise of 0.16%. Concurrently, the US Dollar Index (DXY) also edged up by a negligible 0.01%, closing at 101.965. In the Eurozone, the
The USD/JPY currency pair has once again demonstrated its resilience as the US dollar rallied against the Japanese yen. Amidst the market’s noisy behavior, the pair initially pulled back to the 145 yen level, creating an anticipation for potential support. True to expectations, the market found its footing and showed signs of strength. The current
The AUD/USD exchange rate experienced a slight gain of 0.19% after a previous decline of 0.49% during the previous session. This article explores the potential impact of trade data from Australia and US inflation numbers on the Australian dollar. The analysis delves into the trade relationship between Australia and China, as well as the labor
Economists are predicting an increase in headline inflation, with a projected rise of 0.2% in December. This would push the year-over-year inflation rate from 3% to 3.2%. While the Federal Reserve primarily focuses on core inflation, which excludes food and energy prices, headline inflation is crucial for consumers as it encompasses these essential costs. This
The AUD/USD experienced a decline of 0.49% on Tuesday, reversing the previous day’s gain. The Australian dollar ended the session at $0.66867 after reaching a high of $0.67345 and then falling to a low of $0.66770. Investors are now turning their attention to upcoming economic indicators, including the Australian Monthly CPI Indicator and US mortgage
The USD/JPY experienced a slight gain of 0.17% on Tuesday, partially reversing the previous day’s loss. This article will analyze the impact of wage growth on USD/JPY and consumer spending, as these factors are closely intertwined. Additionally, we will examine the effect of central bank commentary and economic indicators on the currency pair. On Wednesday,
The U.S. Dollar Index (DXY) is facing a decline as traders react to the latest Consumer Inflation Expectations report. This report indicates that inflation expectations have dropped from 3.4% in November to 3.0% in December. This decrease in inflation expectations has put pressure on the U.S. dollar, causing it to lose ground against other major
The EUR/USD exchange rate is influenced by various economic indicators and events that shape the monetary policy and economic outlook of both the European Union and the United States. In this article, we will analyze the potential impact of key economic indicators on the exchange rate, particularly focusing on factors such as German trade surplus,