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Quick Look: Gold (XAU) reached a record high in May 2024, with

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swiss franc and U.S. dollar - USD/CHF

USD/CHF Rises to 0.8955 as Fed Adjusts Rate-Cut Outlook

Quick Look: USD/CHF rises to 0.8955, influenced by the Fed’s cautious outlook and Swiss economic data. The Fed signals only one potential rate cut this year, shifting from three cuts previously projected. Swiss producer inflation dropped by 0.3% MoM,

Wibest – Pound Sterling: Pound sterling coins. gbp

GBP/USD Faces Uncertainty Ahead of US CPI & FOMC

Quick Look: UK’s GDP showed no growth in April 2024, with declines in manufacturing, industrial production, and construction sectors. PM Rishi Sunak’s Conservative Party faces pressure ahead of the July 2024 elections amid economic and cost of living issues.

Chinese Yuan and dollar

Yuan Strengthens: Onshore and Offshore Rates Up

Quick Look: Onshore Dollar to Yuan closed at 7.2537, up 4 basis points; offshore USD/CNH at 7.2684, up 20 basis points. USD/CNY closed at 7.2545 previously, showing minor market volatility and cautious optimism. PBOC injected 2 billion yuan through

United states dollar

US Dollar Nears 10-Week Highs Ahead of US Growth Report

The dollar was near a 10-week high on Friday as investors anticipated the US economic growth figures’ impact on its continuing strength that has been going on for months in the forex world. US President Trump has been outspoken

United states dollar

Dollar Goes Up Against other Currencies on Bullish Data

The dollar edged higher against a basket of its key rivals on Monday, not far from a 10-week high following that data that showed US economic growth slowed less than expected and as global risk sentiment stayed fragile. The

Euro Slides on German Chancellor News

Euro Slides on German Chancellor News

The euro weakened on Monday after a report said that German Chancellor Angela Merkel will not seek re-election as party chairwoman, marking the end of a 13-year era in which she has dominated European politics.   [img desc: Angela

BROKER NEWS

Broker News

Zenfinex Reports Revenue Surge but Faces Operating Losses

London-based broker Zenfinex, now operating as Taurex, has exposed its fiscal year 2023 financial results, which paint a complex picture of its economic situation. Zenfinex’s Fiscal Overview Zenfinex Limited’s revenue hit £848,306, a significant rise from the previous year. However, direct costs reached £196,627, hinting at potential issues. The

Euro (EUR)

EUR/USD Mid-Day: Neutral Bias at 1.0915 and 1.0718

Quick Look: EUR/USD remains neutral, watching 1.0915 for an upward move and 1.0718 for a downward shift. The pair is adjusting from a high of 1.1274, with 1.0601 and 1.1138 as significant levels.  Noise and choppiness dominate, influenced by Federal Reserve and ECB policies. As we reach mid-day, the EUR/USD pair presents

swiss franc and U.S. dollar - USD/CHF

USD/CHF Rises to 0.8955 as Fed Adjusts Rate-Cut Outlook

Quick Look: USD/CHF rises to 0.8955, influenced by the Fed’s cautious outlook and Swiss economic data. The Fed signals only one potential rate cut this year, shifting from three cuts previously projected. Swiss producer inflation dropped by 0.3% MoM, raising expectations for SNB rate cuts. The USD/CHF pair has climbed to

Wibest – Pound Sterling: Pound sterling coins. gbp

GBP/USD Faces Uncertainty Ahead of US CPI & FOMC

Quick Look: UK’s GDP showed no growth in April 2024, with declines in manufacturing, industrial production, and construction sectors. PM Rishi Sunak’s Conservative Party faces pressure ahead of the July 2024 elections amid economic and cost of living issues. The GBP/USD pair found support at 1.2736. Upside targets at 1.2800 and

Chinese Yuan and dollar

Yuan Strengthens: Onshore and Offshore Rates Up

Quick Look: Onshore Dollar to Yuan closed at 7.2537, up 4 basis points; offshore USD/CNH at 7.2684, up 20 basis points. USD/CNY closed at 7.2545 previously, showing minor market volatility and cautious optimism. PBOC injected 2 billion yuan through seven-day reverse repos, maintaining a 1.8% interest rate. Mixed economic indicators with

Dukascopy’s Trading Revenue Takes an 80% Hit in H1

The Swiss-based Dukascopy today made its interim consolidated income statement public. The report showed a sharp 80% plunge in profits, dropping to CHF 889,000 in H1 of this year from CHF 3.9 million during

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