The NZD/USD currency pair has been on a downward trend, with the New Zealand Dollar depreciating to near 0.5880 during the Asian trading session. This movement can be attributed to the escalated geopolitical tensions in the Middle East, specifically the anticipation of Israel’s response to Iran’s recent assault. As a result, investors have been turning
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West Texas Intermediate (WTI) crude oil prices have started the new week on a subdued note, showing little reaction to Iran’s recent attack on Israel. This lack of response from buyers indicates a concerning trend in the market, as geopolitical tensions usually drive up oil prices. The attack on Israel by Iran, involving explosive drones
The price of gold (XAU/USD) has reached an all-time high near $2,390 during the early Asian session on Friday. The main driving force behind this surge is the market anticipation that the US Federal Reserve (Fed) will lower its benchmark interest rate this year. This expectation has set off a chain reaction in the market,
The EUR/USD pair is facing pressure around 1.0740 as the USD strengthens on Thursday. The unexpected rise in US CPI inflation data for March has pushed the US Dollar to yearly highs, leading to a defensive stance for the major pair in the early Asian session. The European Central Bank (ECB) is widely expected to
The Indian Rupee (INR) has been facing challenges in recent days as it lost its recovery momentum against the US Dollar (USD) due to a renewed demand for the greenback. Factors such as Dollar sales from banks, declining crude oil prices, and India’s robust growth outlook have been influencing the currency’s performance. The markets are
Bank of Japan Governor Kazuao Ueda has made recent comments on the inflation and policy outlook, emphasizing the importance of monitoring data to gauge if trend inflation will accelerate towards the 2% target. One crucial factor that will be examined is whether the pay raises agreed upon during annual wage negotiations will translate into actual
The Japanese Yen (JPY) has been facing downward pressure for the second consecutive day, influenced by various factors. The cautious approach adopted by the Bank of Japan (BoJ) towards further policy tightening is a significant driver behind the Yen’s weakness. Additionally, softer domestic data, such as the decline in real wages in Japan, has contributed
The Indian Rupee (INR) has faced a challenging time as it traded in negative territory, primarily due to the increased demand for the US Dollar (USD). This demand is believed to be coming from importers, putting pressure on the INR. The escalating geopolitical tensions in the Middle East and the surge in oil prices have
The price of gold (XAU/USD) has recently surged to an all-time high above the $2,300 mark, driven by various factors such as the weaker-than-expected US ISM Services PMI data for March and speculation regarding the Federal Reserve’s rate hike cycle. Investors and traders are closely monitoring the situation, with markets now expecting the possibility of
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,
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
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