NZD/USD holds positive ground above 0.5850, RBNZ rate decision in focus
The NZD/USD pair maintains its momentum above 0.5850, reflecting market optimism ahead of the Reserve Bank of New Zealand’s (RBNZ) upcoming policy decision. Traders are watching closely as the RBNZ is expected to keep rates steady, following a series of hikes aimed at controlling inflation. The pair’s performance underscores investor confidence despite global market uncertainties, […]
GBP/USD climbs to 1.2600, away from multi-month low set on Friday on weaker USD
The GBP/USD pair advanced to 1.2600 on Monday, rebounding from its multi-month low recorded last Friday. This recovery comes as the U.S. dollar softens, pressured by investor caution ahead of upcoming U.S. economic data and Federal Reserve signals. The pair’s upward momentum reflects a shift in market sentiment after last week’s selloff. Weaker U.S. dollar […]
PBOC sets USD/CNY reference rate at 7.1918 vs. 7.1942 previous
The People’s Bank of China (PBOC) set the USD/CNY reference rate at 7.1918, slightly lower than the previous rate of 7.1942, signaling subtle policy adjustments in managing the yuan’s valuation. This move aligns with Beijing’s broader strategy to maintain currency stability amid global economic uncertainties and volatile dollar strength. The change underscores the PBOC’s cautious […]
Oil holds at 2-week high as Russia, Iran tensions support prices
Oil prices held near their highest levels in two weeks, supported by escalating tensions involving Russia and Iran. Concerns over potential supply disruptions in the Middle East have reinforced the bullish sentiment, keeping global crude benchmarks on the rise. Brent crude was last trading above $85 per barrel, while West Texas Intermediate remained steady near […]
EUR/USD finds resistance around 1.0500 after rebounding from two-year lows
The EUR/USD pair faced resistance at the 1.0500 level, halting its recovery after touching two-year lows earlier this week. The pair rebounded following signs of stability in the eurozone, but persistent concerns over economic divergence between the U.S. and Europe continue to weigh on market sentiment. The euro’s brief rally came as the dollar eased […]
New Zealand’s Retail Sales decline 0.1% QoQ in Q3 vs. -1.2% prior
New Zealand’s retail sales fell by a modest 0.1% in Q3, a significant improvement from the 1.2% drop recorded in Q2. The data indicates resilience in consumer spending despite rising economic pressures, suggesting some stabilization in the retail sector. The smaller-than-expected decline reflects mixed economic conditions as households navigate high interest rates and inflation. While […]
Gold Price Forecast: XAU/USD holds above $2,700 on softer US Dollar, geopolitical risks
Gold prices remain firm above $2,700, supported by a softer US Dollar and heightened geopolitical risks. The precious metal is benefiting from safe-haven demand as global uncertainties persist, while a weaker dollar makes gold more attractive for international buyers. Traders are closely watching the developments in the Middle East and potential escalation in conflicts, which […]
Stocks, Bonds Rise as Traders Embrace Bessent: Markets Wrap
Global markets surged as stocks and bonds rallied, reflecting investor confidence in Scott Bessent’s latest market strategy. Equities extended their gains, buoyed by easing concerns over economic slowdown, while bond prices rose alongside growing optimism in financial leadership. Traders embraced Bessent’s return, interpreting it as a stabilizing force amid ongoing market uncertainties. This upward momentum […]
AUD/USD gathers strength to near 0.6550 on weaker US Dollar
The AUD/USD pair gained traction, advancing near the 0.6550 level, fueled by a declining US Dollar. A softer tone in U.S. Treasury yields and cautious market sentiment about Federal Reserve policy have weakened the greenback, supporting the Australian Dollar. Market participants are factoring in expectations of a pause in rate hikes, further pressuring the Dollar’s […]
Bitcoin’s Rally Stalls After Nearing the Historic $100,000 Level
Bitcoin’s dramatic climb has paused just short of the highly anticipated $100,000 mark, stirring speculation among investors about the cryptocurrency’s next move. After weeks of strong gains fueled by growing institutional interest and optimism around upcoming spot ETF approvals, Bitcoin’s momentum slowed as profit-taking kicked in and regulatory uncertainty loomed. Market analysts attribute the stall […]