The NZD/USD pair is showing slight gains near 0.6130 in the early Asian trading session. This slight uptrend can be attributed to Federal Reserve Chair Jerome Powell’s comments regarding the possibility of rate cuts later this year. The market is reacting to the uncertainty surrounding the timing and number of rate cuts that may be
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The JOLTs Job Openings data for January and the ADP Employment Change report for February both revealed figures that fell short of expectations. This led to a negative impact on the US Dollar Index (DXY), causing it to experience losses. The JOLTs Job Openings for January came in at 8.863M, slightly below the expected 8.9M,
The Indian Rupee (INR) has been trading on a softer note due to the modest demand for the US Dollar. Global economic growth is expected to outperform expectations, with only slight headwinds for India in the upcoming fiscal year. Investors are eagerly awaiting key economic indicators such as the Indian S&P Global Services PMI and
The USD/MXN exchange rate continues to fall for the third consecutive session, reaching near 17.00 during the early European trading hours. This decline is attributed to the weakening of the US Dollar, which has been struggling after poor US manufacturing data was reported in February. Despite a slight improvement in US Treasury yields, with the
The AUD/USD pair has been weakening, hovering near 0.6525 despite the softer US Dollar on Monday. This decline can be attributed to the US ISM Manufacturing PMI falling to 47.8 in February, below the previous reading of 49.1. The weaker-than-expected data is creating downward pressure on the pair, indicating potential economic challenges in the US
The US Dollar trades near flat for this week, with Friday’s gains abating after the latest US data points. The US Dollar Index remains around 104.00, struggling to break away in either direction. The contradiction between the Global Purchase Managers Index and the ISM is causing uncertainty among traders regarding the Fed’s future rate hike
The Western Texas Intermediate (WTI) prices took a hit, dropping to $77.75 in Thursday’s early Asian session. This decline can be attributed to the Federal Reserve’s decision to delay the first rate cuts. With rising US oil stocks adding pressure, the WTI benchmark is facing challenges in maintaining its price stability. The Energy Information Administration
Gold prices in Pakistan experienced a decline on Wednesday, with the price for 24-carat Gold standing at 18,097.61 Pakistani Rupees (PKR) per gram. This marked a decrease of PKR 146.12 compared to the previous day. The price for 24-carat Gold per tola also saw a drop, falling to PKR 211,086.95 from PKR 212,791.23. These prices
The GBP/USD pair has been trading in positive territory for the sixth consecutive day, hovering near 1.2685 on Tuesday. The recent comments from both the Bank of England (BoE) Governor Andrew Bailey and the New York Federal Reserve (Fed) President John Williams have been influencing the direction of the currency pair. During a testimony to
Recently, gold has retreated to $2,026.93 in response to a strengthening US Dollar and an uptick in Treasury yields. The 50-day Simple Moving Average (SMA) at $2,033.67 provided resistance during the European session, resulting in a 0.40% decrease in price. This decline was exacerbated by a rise in the US 10-year Treasury yield, which led
The AUD/USD pair is failing to hold onto its modest intraday gains as USD buying emerges in the market. The Federal Reserve’s hawkish outlook has led to elevated US bond yields, which is supporting the US dollar against other major currencies. Equity Markets Influence A minor pullback in the equity markets is further driving flows
The Indian Rupee (INR) has been losing ground despite the weakening of the US Dollar (USD). This surprising trend comes amidst the decision by the Reserve Bank of India (RBI) to keep the key repo rate steady at 6.5%. This move indicates that the battle against persistently high inflation in India is far from over.