The US Dollar Index (DXY) experienced a retreat on Thursday after a sharp recovery the previous day. This decline can be attributed to the release of US Gross Domestic Product (GDP) revisions and soft Jobless Claims figures. The bond market surge on Wednesday that resulted in gains for the USD has now been reversed due
Forex News
In the recent Elliott Wave analysis of the VanEck Semiconductor ETF (SMH), it was observed that there is an impulsive trend in play with a motive structure. The ETF is currently positioned in Minor wave 5, indicating an upward movement in Minor wave 5. The Medium Level at $250 has already been reached, signaling a
The GBP/USD pair has seen a decline to 1.2695 amid a stronger US Dollar (USD) on Thursday. The increase in US yields and the reduced expectations of a Federal Reserve (Fed) rate cut in September have contributed to the firmer USD. Fed officials have expressed caution regarding the inflation outlook, causing traders to adjust their
The silver market is seeing an uptrend in prices, with the white metal extending its gains to around $32.25 in the European session. This increase is largely attributed to the rising industrial demand for silver. According to the Silver Institute, total industrial demand is expected to rise by 9% driven by sectors such as photovoltaic.
Recently, China’s Shanghai city introduced a series of support measures to revitalize its struggling property sector. These measures include cuts in down payment requirements, lower minimum mortgage rates, and eased restrictions on home purchases. In response to this announcement, the Australian Dollar (AUD) saw a spike in value, with the AUD/USD pair flirting with intraday
In May, the Nasdaq100 index once again demonstrated significant growth in US markets, which also had a positive impact on global markets. The index neared the 19,000 level, showing an increase of over 11% from the lows seen on April 19. However, a wave of selloffs caused a 2% decline in the index from its
When it comes to the value of the New Zealand Dollar (NZD), various economic factors play a crucial role in determining its strength and weaknesses. The government’s deficit, fiscal policies, and external influences all contribute to the fluctuations of the Kiwi in the foreign exchange market. Government’s Deficit and Fiscal Policies Finance Minister Nicola Willis
The USD/CAD pair drifted lower to 1.3640 in Wednesday’s early European session despite the softer Canadian CPI inflation data. The annual Canadian CPI inflation rate slowed to 2.7% in April from 2.9% prior, increasing the likelihood of a rate cut from the Bank of Canada (BoC) in June. Speculation and Investor Sentiment Following the release
The Reserve Bank of Australia (RBA) recently published the Minutes of its May monetary policy meeting, where the board members deliberated on the possibility of raising rates. Ultimately, the board agreed that the case for maintaining steady policy was stronger. The minutes also revealed that the board found it challenging to predict future changes in
When delving into the world of investing in open markets, it is crucial to understand the risks and uncertainties involved. While the allure of potential profits may be enticing, it is important to remember that the markets are volatile and unpredictable. The information provided on platforms like FXStreet should be viewed as informational rather than
European Central Bank (ECB) Board member Isabel Schnabel recently stated that the central bank may consider cutting interest rates in June. However, she advised caution in making this decision as there is a risk of easing prematurely. The path beyond June remains uncertain, and policymakers must closely analyze incoming data before taking any action. Challenges
The US Dollar experienced a significant correction following the release of the latest Consumer Price Index (CPI) data, indicating a resurgence of disinflationary trends in April. As a result, the US Dollar Index hovered near the 104.00 level, signaling a potential downside break. Federal Reserve Bank officials, including Chicago President Austan Goolsbee and Minneapolis President