Despite gaining some positive traction on Monday, the USD/JPY pair is facing challenges in capitalizing on this move. The divergent policy expectations between the Bank of Japan (BoJ) and the Federal Reserve (Fed) are proving to be a key factor in capping further gains. A positive risk tone in the market has been undermining the
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Following the release of the University of Michigan’s Consumer Sentiment Index figures and softer-than-expected housing market data, the US Dollar (USD) experienced a decline as measured by the US Dollar Index (DXY). This reaction showcases the market’s sensitivity to economic data and its impact on the currency. Despite the decline in the USD, careful evaluation
The NZD/JPY pair has seen a slight increase to 89.30, with a key test at the 20-day Simple Moving Average (SMA). The Relative Strength Index (RSI) is hovering around the 50 mark, indicating a neutral stance. Additionally, the Moving Average Convergence Divergence (MACD) is displaying flat green bars, suggesting that the momentum is currently sideways.
The AUD/USD pair has shown a significant increase, climbing to 0.6950, during Friday’s trading session. This rise can be attributed to the remarks made by Reserve Bank of Australia’s (RBA) Governor Michele Bullock, who has maintained a hawkish stance. Despite mixed sentiment data from the United States, the Aussie benefited from Bullock’s comments. Markets have
Silver prices have always been volatile and subject to fluctuations due to a variety of factors. The price of silver not only depends on its demand as a precious metal but also on global economic and geopolitical conditions. The price of silver can move significantly in a short period of time, making it a challenging
The AUD/JPY cross has gained momentum near 97.55 in Thursday’s Asian session, rising 0.36% on the day. The improved Chinese July Retail Sales data has provided support to the Australian Dollar. Data released by the National Bureau of Statistics of China showed that Retail Sales rose by 2.7% YoY in July, exceeding market expectations. This
The USD Index (DXY) showed a pattern of sustained selling pressure, leading to a subdued price action in the market. This decline was further reinforced by the release of July’s CPI data, indicating a downward trend in US inflation rates. As a result, the DXY dropped to multi-day lows around 102.30. On the other hand,
The USD/CHF pair is currently trading in positive territory for the second consecutive day near 0.8670 in Tuesday’s Asian session. This bullish bias can be attributed to the anticipation of key US economic data releases later in the week. Traders are keen on observing the US Producer Price Index (PPI), Consumer Price Index (CPI), and
The USD/CAD pair is currently trading with mild gains around the 1.3740 level in the Asian trading session. Traders are patiently awaiting key data releases from the United States, particularly the Producer Price Index (PPI), for fresh signals. The Greenback is consolidating its positions amid a relatively flat global market sentiment. It is expected that
The AUD/USD pair saw a significant increase during Monday’s trading session, settling near the 0.6600 level. This boost can be attributed to the Reserve Bank of Australia’s (RBA) steadfast hawkish stance, which has underpinned the strength of the Australian Dollar. Additionally, positive Chinese inflation data from the previous week has also contributed to the bullish
Recently, Mexico’s central bank, Banxico, made a surprising decision to lower interest rates by 25 basis points in a split vote of 3-2. This move signals a shift towards further easing policies, despite concerns about inflation and economic growth. The decision was unexpected by many and has sparked discussions about the future trajectory of the
The AUD/USD pair experienced a slight retreat to 0.6575 during the recent trading session. This came after the Reserve Bank of Australia (RBA) reiterated its hawkish stance which contributed to a buoyant Australian Dollar. Additionally, investors were digesting Chinese inflation data which was reported during the European session. The combination of these factors led to