The average daily range of the Australian dollar during the first week of the year was over 2% on each day with significant trade. After all the commotion, it ended the week with a 1% gain. The main external factors that contributed to the volatility looked to be Chinese policy, minutes from Federal Reserve meetings, […]
After the release of critical economic data in the United States, which, while encouraging, failed to support the USD, the Australian Dollar (AUD) rose versus the greenback. In addition, a services PMI survey fell into a contractionary zone, escalating fears of a US recession. The AUD/USD pair currently trades at 0.6863 at the time of […]
The euro-dollar (EUR/USD) pair continues to trade around 1.0600 following the release of the US Federal Reserve’s (Fed) December monetary policy minutes, which revealed that policymakers remain committed to combating inflation and do not foresee a rate reduction in 2023. As a result, the EUR/USD fell to 1.0585 before rising to the current price. The […]
Today marked a further strengthening of the Japanese Yen as the USD/JPY fell below the 130 mark for the first time since June 2022. Following the Bank of Japan’s policy reversal in December, speculation has grown about likely future tightening in 2023. Today is a holiday in Japan, so it will be interesting to see […]
On Monday, the dollar (USD) slightly increased, temporarily pulling away from recent six-month lows against a basket of key currencies. Recent market speculation is that the US Federal Reserve’s tightening cycle may be coming to an end, and the fragile state of sentiment has caused it to decline. Additionally, the first trading day of the […]
Better-than-expected home prices originally caused the British pound to react favorably, but markets rapidly turned against the currency as investors realized that the UK housing industry is slowing down both YoY and MoM. Due to reduced demand from the UK public, higher interest rates have unavoidably been pulling down property prices. The pound’s gains in […]
Following the Bank of Japan’s (BoJ) unexpected second-in-a-day bond purchase operation, the USD/JPY pair continued to fall from the Asian session into the late North American session. The yen is trying to end a losing streak against the dollar that has lasted five days. In an effort to limit yields, the Bank of Japan announced […]
The dollar fell against the majority of currencies on Friday in turbulent, thin trading as data showed that the US economy is slowing down a touch, supporting forecasts of more gradual Federal Reserve interest rate increases and boosting investors’ risk appetite, according to Reuters. After increasing by 0.4% in October, the personal consumption expenditures (PCE) […]
On Friday, the Indian rupee lost a little bit of ground against the US dollar. The currency ended the week practically flat thanks to the Reserve Bank of India’s (RBI) expected intervention, and forward premiums reached their highest level in a month as a result. The rupee fell from 82.7625 to 82.8575 per dollar during […]
