EUR/USD falls to near 1.0650 as ECB expects to pursue more aggressive rate cuts than Fed
The EUR/USD currency pair has declined to approximately 1.0650, influenced by the European Central Bank’s (ECB) inclination toward more aggressive interest rate cuts compared to the U.S. Federal Reserve (Fed). This divergence in monetary policy approaches has led to a stronger U.S. dollar against the euro. Recent statements from ECB officials indicate a readiness to […]
China considers cutting home-buying taxes – Bloomberg
China is contemplating reductions in home-buying taxes to stimulate its property market, which has been facing a downturn. This initiative aligns with recent measures aimed at revitalizing the sector, including lowering minimum down payment ratios and easing purchase restrictions in major cities. The proposed tax cuts are intended to make homeownership more accessible, thereby boosting […]
Japanese Yen weakens further against USD; USD/JPY retakes 154.00
The Japanese yen has weakened further against the U.S. dollar, with the USD/JPY pair surpassing the 154.00 mark. This depreciation is primarily attributed to the widening interest rate differential between the United States and Japan. The Federal Reserve’s commitment to maintaining higher interest rates contrasts with the Bank of Japan’s continued ultra-loose monetary policy, making […]
XRP rallies 23% in one week as investors expect more upside
XRP has rallied 23% over the past week, driven by strong investor sentiment and expectations of further price increases. This rally reflects a broader market upswing and positive technical signals that have strengthened confidence in the asset. With recent gains, investors are optimistic about XRP’s potential for continued upside. Several factors have fueled this momentum. […]
Australian Dollar remains subdued following Westpac Consumer Confidence
The Australian dollar (AUD) has remained subdued following the latest Westpac-Melbourne Institute Consumer Sentiment Index, which recorded a 6.2% increase to 89.8 in October 2024. Despite this rise, the index remains below the neutral 100 mark, indicating persistent consumer pessimism. This sentiment has contributed to the AUD’s lackluster performance, as consumer confidence is a key […]
Bitcoin Record Lifts Crypto Market Value Past Pandemic-Era Peak
Bitcoin’s recent ascent has propelled the cryptocurrency market’s total value beyond its previous pandemic-era peak. The leading digital currency has surged approximately 30% since the U.S. election on November 5, reaching an all-time high of $89,599 in early Asian trading on November 12. This remarkable growth underscores the increasing confidence in digital assets and their […]
PBOC sets USD/CNY reference rate at 7.1927 vs. 7.1786 previous
The People’s Bank of China (PBoC) has set the USD/CNY reference rate at 7.1927, up from the previous 7.1786. This adjustment indicates a slight depreciation of the Chinese yuan against the U.S. dollar. The PBoC’s daily reference rate, also known as the central parity rate, serves as a benchmark for the yuan’s value and allows […]
Oil Holds Biggest Drop in Two Weeks on Demand Concern and Dollar
Oil prices have experienced their most significant drop in two weeks, driven by mounting concerns over global demand and a strengthening U.S. dollar. The recent decline reflects apprehensions about economic slowdowns in key markets and the impact of a robust dollar on commodity prices. Analysts point to weaker-than-expected economic data from major economies, including China […]
NZD/USD extends downside to near 0.5950 on the bullish US Dollar
The New Zealand dollar (NZD) has weakened against the U.S. dollar (USD), with the NZD/USD pair approaching the 0.5950 mark. This decline is primarily attributed to the strengthening of the U.S. dollar, which has gained momentum following robust economic data and expectations of sustained interest rates by the Federal Reserve. Recent data indicates that New […]
Asian Shares in Tight Range After US Equities Gain: Markets Wrap
Asian markets opened cautiously, holding within a tight range after a positive close on Wall Street. Investors across the region are awaiting key economic data releases and updates from the upcoming U.S. Federal Reserve meeting, which could impact global market sentiment. Japan’s Nikkei 225 index saw a modest rise, climbing 0.3% as optimism from the […]