Quick Look GBP/USD current trading session sees a decline of 0.39%, standing at 1.2807. The pound had previously achieved six consecutive wins, with a 1.56% rise last week. Upcoming UK employment data and the BoE rate decision are in focus. US employment figures surpass expectations, but wage growth slows down. BoE’s interest rate cut expectations …
GBP/USD Slips 0.39% Amid Mixed Global Economic Cues Read More »
Quick Look GBP/USD Experiences a Bearish Shift, with a closing around 1.2650. Downward Trend Expected to Continue, pending key events like the UK budget announcement and the US job numbers release. Key Events to Watch: UK Budget Announcement, Federal Reserve Chairman’s Testimony, and US Job Numbers. Economic Indicators Show Mixed Signals: Strong Services Sector PMI …
Quick Look February’s annual inflation rate in Turkey soared to 67.07%, up from January’s 64.86%. The monthly Consumer Price Inflation (CPI) rose by 4.53% in February, surpassing expectations. Central Bank of Turkey ramped up interest rates by 3,650 basis points to 45% since June. The Turkish lira weakened further, trading at 31.4205 against the dollar …
Turkey’s Inflation Hits 67.07%, Lira Drops to 31.4205 Read More »
Quick Look NZD/USD dips to near 0.6100, impacted by a stable US Dollar and New Zealand’s larger-than-expected trade deficit. New Zealand’s economic indicators show mixed signals; consumer confidence rises while policy normalization is eyed for 2025. US economic indicators present a slowdown, with manufacturing PMI and consumer sentiment declining. The market anticipates the Federal Reserve’s …
Quick Look USD/JPY shows a neutral intraday bias with sideways trading, support at 148.79, and a breakpoint at 150.87. The larger trend projection suggests an upward movement towards 155.50 from a base of 140.25. Japanese inflation rate in January hits 2.2%, indicating potential shifts in BoJ’s monetary policy. Upcoming US Q4 GDP and PCE data …
USD/JPY: Inflation Drives to 155.50 Amid Policy Shifts Read More »
Quick Look Germany’s DAX Index edges up by a mere 0.02% on Monday, hinting at market cautiousness. Key economic data releases slated for this week include inflation figures, economic sentiment indicators, and labour market information. Daiwa Capital Markets predicts a significant moderation in inflation rates across various sectors. Corporate developments see Global Telco AI Alliance’s …
Quick Look USD/CHF trades sideways near 0.8800, showing slight gains in the early European session. FOMC minutes reveal hesitancy to cut rates hastily, preferring to await more economic data. Swiss National Bank (SNB) President hints at possible rate cuts, contingent on upcoming inflation data. Geopolitical tensions in the Middle East impact safe-haven currencies, including the …
Sideways USD/CHF Near 0.8800 Amid Rate Hesitancy Read More »
Quick Look The US Dollar dips below 104.00 as risk sentiment improves, influenced by optimistic market events. Upcoming PMIs across major economies set to impact market dynamics. Federal Reserve’s January meeting minutes caution against premature policy easing. Currency movements see EUR/USD and GBP/USD gains, with notable shifts in commodity currencies. Market eyes on Nvidia’s earnings …
US Dollar Dips Below 104, PMIs & Fed’s View in Focus Read More »
Quick Look U.S. crude oil inventories surged by 7.2 million barrels, exceeding expectations. Brent crude traded above $83/barrel, with significant movements in oil and gasoline stocks. The global zinc market ended with a surplus, while lead reported a surplus in production over consumption. The gold price forecast anticipates a 6% increase over the next 12 …
Commodity Market: Oil Up 7.2M Barrels, Gold to Rise 6% Read More »
Quick Look Eurozone’s composite PMI rose to 48.9 in February, hinting at a less severe economic downturn. France and Germany’s PMI figures reflect ongoing economic contractions, with France showing slight improvement. Manufacturing output continues to decline, while service sector inflation raises concerns. Germany faces a technical recession, with growth forecasts significantly cut. Upcoming economic data …
Eurozone’s PMI at 48.9: Signs of Economic Resilience Read More »
Quick Overview Gold’s value remains above $2,000/oz amid anticipation of the Federal Reserve’s interest rate decisions. A decrease in gold ETF holdings by 1 million oz suggests waning expectations for imminent rate reductions. Crude oil prices stay steady, with a cautious eye on developments in the Middle East. Notable declines in Indian imports of crude …
Commodities: Gold and Oil Amidst Rate and Tension Dynamics Read More »
Quick Look Russia’s GDP is on the way to grow by 2.6% in 2023, surpassing previous years’ forecasts. The defence and security budget in 2024 constitutes 40% of total expenditure amid rising inflation and labour shortages. Economic resilience is attributed to strategic preparation for financial sanctions and lucrative oil and gas earnings. Sanctions have led …
2.6% GDP Growth: Russia Defies Sanctions in 2024 Read More »
Quick Look U.S. inflation remains persistent, complicating the Federal Reserve’s easing cycle timeline. The yen struggles around 150 per dollar, facing a significant yearly decline amidst speculation. The dollar index exhibits resilience, climbing 3% this year amid changing rate cut expectations. Economic indicators highlight ongoing inflationary pressures, with mixed signals from retail sales and jobless …
Global Currency Shifts: Dollar Inflation & Yen’s 6% Dive Read More »
Quick Look ICE Brent and NYMEX WTI futures opened lower in Asian trading amid inflation concerns and geopolitical events. US inflation figures dampen expectations for Federal Reserve rate cuts, with significant revisions to the rate cut outlook for 2024. There are divergent views on oil demand, with the IEA forecasting a slowdown and OPEC predicting …
Oil Prices Wobble: Inflation Fears & Geopolitical Sparks Read More »
Quick Look US Dollar Index drops 0.4% ahead of key economic data releases. Retail Sales in the US declined by 0.8%; Initial Jobless Claims slightly improved. UK Retail Sales see a surprising 3.4% increase in January. Central banks in Japan and New Zealand reiterate monetary policy stances. Significant currency movements were observed across major pairs; …
Forex Update: Dollar Dips 0.4%, Gold Soars Past $2000 Read More »
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