Australian Dollar continues to face downward pressure amid a strong US Dollar
The Australian dollar (AUD) is experiencing sustained downward pressure, trading near its lowest levels since August 2024, primarily due to the strengthening U.S. dollar (USD). This trend is influenced by several key factors. Robust U.S. economic data has bolstered the USD, diminishing the relative appeal of the AUD. Additionally, the Federal Reserve’s cautious approach to […]
Oil dips on oversupply concerns, heads for weekly loss
Oil prices have declined, heading for a weekly loss, as concerns over potential oversupply and a stronger U.S. dollar weigh on the market. The International Energy Agency (IEA) has forecasted an oil supply surplus in 2025, anticipating that global oil supply will exceed demand by over 1 million barrels per day, even if OPEC+ maintains […]
Japan’s Akazawa: Expect modest economic recovery to continue
Japan’s Economy Minister, Ryosei Akazawa, has expressed confidence in the nation’s ongoing economic recovery, characterizing it as modest yet steady. He emphasized the government’s commitment to supporting this trajectory through targeted fiscal policies and structural reforms aimed at stimulating growth and enhancing productivity. Akazawa highlighted the importance of closely monitoring global economic developments, particularly in […]
PBOC sets USD/CNY reference rate at 7.1992 vs. 7.1966 previous
The People’s Bank of China (PBOC) has set the USD/CNY reference rate at 7.1992, slightly higher than the previous rate of 7.1966. This adjustment indicates a modest depreciation of the 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 […]
EUR/USD taps 1.05 for the first time in over a year
The EUR/USD pair has reached 1.05, marking its lowest level in over a year as market forces drive renewed strength in the U.S. dollar. This shift comes amid economic uncertainty in the eurozone and expectations of further U.S. monetary policy adjustments, placing pressure on the euro. A stronger dollar, fueled by steady U.S. economic data […]
USD/JPY jumps above 156.50 after Japanese GDP, eyes on US Retail Sales data
The USD/JPY currency pair has surged above 156.50, reaching its highest level since 1990, following the release of Japan’s Gross Domestic Product (GDP) data. The Japanese economy expanded by 0.5% in the third quarter, surpassing expectations of a 0.3% increase. Despite this growth, the yen weakened against the U.S. dollar, as investors anticipate the upcoming […]
WTI holds steady near $68.50, renewed US dollar demand might cap its upside
West Texas Intermediate (WTI) crude oil prices are holding steady around $68.50 per barrel, facing potential resistance due to renewed demand for the U.S. dollar. The dollar’s recent strength, bolstered by robust economic data and expectations of sustained interest rates, has made commodities priced in dollars more expensive for holders of other currencies, potentially capping […]
Gold slips on Powell remarks of no rush to lower rates
Gold prices have declined, reaching a two-month low, after Federal Reserve Chair Jerome Powell signaled a cautious approach to future interest rate cuts. In a recent speech, Powell emphasized that, despite inflation nearing the Fed’s 2% target, the central bank is not in a hurry to reduce rates, citing the economy’s solid performance. This stance […]
Mexican Peso rallies late after Banxico’s rate cut, US Retail Sales eyed
The Mexican peso saw a late rally after the Bank of Mexico (Banxico) reduced its key interest rate by 25 basis points to 10.25%, marking its third consecutive cut this year. This rate adjustment reflects Banxico’s optimism in controlling inflation, as recent data has shown a continued decline in core inflation levels. Despite the rate […]
USD/CAD holds steady above 1.4050, US Retail Sales data in focus
The USD/CAD pair remains firmly positioned above 1.4050 as investors await key US retail sales data, expected to provide clearer direction on the greenback’s next move. The Canadian dollar holds steady, absorbing pressure from a resilient US dollar while grappling with uncertainty surrounding Canada’s economic outlook. With the Federal Reserve’s monetary policy under continued scrutiny, […]