Asian Currencies Struggle Amid Market Rout; Yen Surges on Safe Haven Demand and BOJ Rate Hike Hopes
Facebook LinkedIn Asian currencies experienced a flat-to-low range on Thursday as equity market turmoil led traders to avoid risk-driven assets. The dollar retreated ahead of key economic data releases, while the Japanese yen stood out by rallying to its strongest levels against the dollar in over two months. Yen Outpaces Peers on Safe Haven Demand […]
India’s Business Activity Surges in July, Driven by Strong Demand and Job Creation
Facebook LinkedIn India’s business activity surged to its fastest pace in three months this July, fueled by robust demand, particularly in the services sector. A recent survey revealed that companies hired at the quickest rate in over 18 years, reflecting sustained growth in the private sector. According to HSBC’s flash India composite purchasing managers’ index […]
How Biden’s Decision to End Re-Election Campaign Could Shape Currency Markets and Economic Policies
Facebook LinkedIn Market Update The U.S. dollar experienced a slight uptick on Monday in a relatively calm trading session as investors processed President Joe Biden’s decision to end his re-election campaign. This development could potentially inject more volatility into the currency market. However, the dollar weakened against the yen after two consecutive days of gains. […]
GBP/USD Under Bearish Pressure: Technical and Fundamental Analysis
Facebook LinkedIn The GBP/USD pair has come under significant bearish pressure, with recent movements pushing the pair below the lower limit of the ascending regression channel. The 4-hour chart’s Relative Strength Index (RSI) has also fallen below 40, indicating a bearish shift in the short-term outlook. This technical backdrop suggests increasing selling pressure and a […]
EUR/USD Technical and Fundamental Outlook Amid Key Economic Releases
Facebook LinkedIn The EUR/USD pair is currently trading around 1.0830, a critical juncture where the lower limit of the ascending regression channel aligns with the Fibonacci 61.8% retracement of the latest downtrend. This level is further reinforced by the 20-period and 50-period Simple Moving Averages (SMA) on the 4-hour chart. If the pair can break […]
Gold Price Edges Higher as US Dollar Softens Amid Geopolitical Tensions
Facebook LinkedIn Gold prices (XAU/USD) rose on Tuesday, bouncing off two-week lows of $2,325, driven by a weaker US Dollar and safe-haven demand amid ongoing geopolitical tensions in the Middle East. Despite higher short-term Treasury yields fueled by hawkish Federal Reserve minutes and stronger US economic data, the Gold price remained buoyant as traders awaited […]
Fed Officials Refrain from Commenting on Interest Rate Outlook Amid Market Uncertainty
Facebook LinkedIn Federal Reserve policymakers are set to make scheduled appearances on Tuesday as markets fully return, with significant anticipation surrounding the upcoming release of the US Personal Consumption Expenditures (PCE) inflation data later this week. The US Dollar has experienced moderate selling pressure so far this week, continuing Friday’s downward trend, spurred by an […]
Indian Rupee (INR) Trims Gains Amid Cautious Market Mood
Facebook LinkedIn The Indian Rupee (INR) experienced a slight decline on Monday despite a softer US Dollar (USD), after closing at a two-month high of 83.10 on Friday. This marked its largest weekly gain in over five months, driven by substantial inflows into Indian equities. The continuation of these inflows could potentially support the INR […]
U.S. Futures Rise on Nvidia’s Strong Earnings and OpenAI’s New Deal
Facebook LinkedIn U.S. stock futures advanced on Thursday as investors responded to Nvidia’s exceptional quarterly earnings and a new content-sharing agreement between OpenAI and News Corp. This follows a mixed session on Wednesday influenced by the Federal Reserve’s cautious outlook on inflation. 1. Futures Boosted by Nvidia’s Stellar Performance As of 03:43 ET (07:43 GMT), […]
Gold Prices Inch Up Amidst Focus on U.S. Inflation Data
Facebook LinkedIn Gold prices saw a modest increase in Asian trading on Tuesday, staging a slight recovery from previous steep losses, as investors eagerly awaited upcoming U.S. inflation data for further insights into interest rate trends. Gold Shows Marginal Recovery: After experiencing notable losses in the prior session, gold prices exhibited a slight uptick in […]