Dollar at one-year high as Trump trade momentum eclipses Fed easing view
The U.S. dollar has surged to a one-year high, driven by renewed investor confidence in the “Trump trade”. This momentum reflects expectations of inflationary policies under President-elect Donald Trump, including tax cuts and increased tariffs, which are anticipated to stimulate economic growth. Consequently, the dollar’s strength has overshadowed the Federal Reserve’s recent rate cuts, as […]
Australia’s Unemployment Rate steadies at 4.1% in October vs. 4.1% expected
Australia’s unemployment rate remained steady at 4.1% in October, aligning with market expectations. The economy added 15,900 jobs during the month, a figure below the anticipated 25,000 and significantly less than the revised 61,300 increase in September. Despite this slowdown, annual job growth stood at a robust 2.7%. The participation rate experienced a slight decline […]
WTI recovers to near $68.00, stronger US Dollar might cap its gains
West Texas Intermediate (WTI) crude oil prices have rebounded to approximately $68.00 per barrel, recovering from recent declines. This uptick is attributed to expectations of tighter near-term supply and a modest increase in demand. However, the strengthening U.S. dollar poses a potential cap on further gains, as a stronger dollar makes oil more expensive for […]
Dogecoin price forecast: Miners offload $240M as DOGE approaches risk zone
Dogecoin (DOGE) is facing downward pressure as miners have sold approximately $240 million worth of the cryptocurrency over the past 40 days. This significant offloading has contributed to DOGE’s decline to around $0.089, marking a 17% drop from its monthly peak of $0.11. The increased selling activity by miners has raised concerns about the coin’s […]
USD/CAD rises to near 1.4000 on bullish US Dollar, eyes on US PPI da
The USD/CAD pair has surged close to 1.4000, driven by a robust U.S. dollar. This rise reflects optimism about U.S. economic momentum, further supported by inflation expectations. Investors are now closely watching the upcoming U.S. Producer Price Index (PPI) data, which could provide insights into inflation trends and potential impacts on monetary policy. A higher […]
RBA’s Bullock: Rates are restrictive enough, staying there until confident on inflation
The Reserve Bank of Australia (RBA) Governor Michele Bullock confirmed the central bank’s stance on holding interest rates steady, stating that rates are already at a restrictive level. Bullock emphasized that the RBA would maintain this position until there’s clear confidence that inflation is moving toward the target range, signaling a cautious approach amid global […]