BoJ’s Ueda: Japan’s economy recovering moderately
Bank of Japan Governor Kazuo Ueda noted that Japan’s economy is showing moderate recovery, as domestic demand strengthens amid a challenging global environment. Speaking recently, Ueda highlighted improved corporate investments and consumer spending, driven by government policies aimed at revitalizing the economy post-pandemic. Despite these positive indicators, Ueda acknowledged headwinds from slower overseas demand, which […]
PBOC sets USD/CNY reference rate at 7.1907 vs. 7.1992 previous
The People’s Bank of China (PBOC) set the USD/CNY reference rate at 7.1907 on Monday, a slight strengthening from the previous rate of 7.1992. This adjustment signals a calibrated approach by Chinese authorities as they navigate economic headwinds while maintaining currency stability. The move comes amid ongoing efforts by the PBOC to balance market forces […]
Bitcoin Churns Near $90,000 After Largest Drop Since US Election
Bitcoin has stabilized near $90,000 following its most significant drop since the U.S. election period, reflecting heightened volatility in the cryptocurrency market. The dramatic decline, triggered by a wave of profit-taking and regulatory concerns, erased significant gains accumulated over the past weeks. Market analysts highlight that Bitcoin’s price correction comes amid increased scrutiny from regulators […]
GBP/USD recovers slightly from multi-month low, remains below mid-1.2600s
The GBP/USD pair edged higher from its multi-month low on Friday but failed to reclaim significant ground, staying below the mid-1.2600s. The slight recovery comes as the U.S. dollar maintained its dominance, bolstered by hawkish Federal Reserve expectations and robust economic data. Despite the recent uptick, the pair’s movements suggest limited bullish traction as traders […]
EUR/USD hovers around 1.0550 near yearly lows amid cautious Fed, dovish ECB
The EUR/USD pair remains near its yearly lows around 1.0550, reflecting cautious market sentiment shaped by divergent signals from the Federal Reserve and the European Central Bank (ECB). Traders are closely watching the Fed’s restrained stance on rate hikes, while the ECB’s dovish tone has added downward pressure on the euro. The contrast between these […]
NZD/USD strengthens above 0.5850 on New Zealand’s stronger data
The NZD/USD pair advanced beyond 0.5850, buoyed by stronger-than-expected economic data from New Zealand. Positive developments in retail sales and employment metrics provided a lift to the New Zealand dollar, signaling resilience in the economy despite global uncertainties. This optimism supported renewed buying interest, pushing the currency pair higher against the U.S. dollar. Market participants […]
ECB’s Cipollone: Central bank should cut rates further to support recovery
The European Central Bank (ECB) may be gearing up for further rate cuts as board member Luigi Cipollone signals the need for more action to bolster economic recovery. Speaking to financial leaders, Cipollone emphasized that the current policy stance may not be sufficient to combat slowing growth, suggesting the central bank should consider additional rate […]
Gold Price Forecast: XAU/USD recovers above $2,550 as US Dollar enters consolidation mode
Gold prices regained strength, climbing above $2,550 as the US dollar showed signs of consolidation after recent gains. The precious metal benefitted from weakening momentum in the greenback, which paused amid cautious sentiment surrounding the Federal Reserve’s interest rate outlook. This reprieve in dollar strength allowed gold to recover from earlier losses, appealing to investors […]