Mexican Peso strengthens for third day
The Mexican Peso (MXN) stays on a mission and climbs for the third straight day versus the US Dollar (USD) after data from Mexico suggests the Trade Balance expanded more than expected, while inflation data in the United States (US) was softer. That has increased the odds of a rate cut by the US Federal […]
Mexican Peso drops 0.08% amidst US economic data showing continued growth
The Mexican Peso (MXN) registers minuscule losses against the US Dollar (USD) on Thursday after economic data from the United States (US) witnessed the economy continuing to grow above trend, though below last year’s Q3 4.9% final reading. In the meantime, Mexico’s unemployment rate continued to trend lower at a non-seasonally adjusted rate, along with […]
EUR/USD knocks back after a firm rally as safe-haven bids step up
The EUR/USD drove back into the high side near 1.0930 on Wednesday after markets shrugged off a miss for pan-European Purchasing Managers Index (PMI) figures before a follow-up beat in US PMIs sent risk appetite skidding back into the safe havens. The pair gained over a full percent bottom-to-top climbing from the previous day’s low […]
Canadian Dollar flows follow the broader market
The Canadian Dollar (CAD) is mostly steady on Tuesday as broad-market sentiment dictates the flow of CAD pairs as Loonie traders buckle down ahead of the Bank of Canada’s (BoC) latest rate call and subsequent press conference. Crude Oil markets are tipped into the high end heading into the mid-week, keeping the Canadian Dollar propped […]
Gold price faces pressure as hopes for an interest rate cut by the Fed
Gold price (XAU/USD) falls back on Monday as investors reconsider the outlook on interest rates by the Federal Reserve (Fed). Policymakers are consistently supporting the tight interest rates narrative to ensure the return of inflation to the 2% target in a sustainable manner. The precious metal is facing some sell-off as the prospect of imminent […]
The CHF is broadly lower on the week, sending USD/CHF into a fresh six-week high
The Swiss Franc (CHF) slid further on Friday, extending recent losses as the market walks back a massive dogpile into the Swiss currency. The USD/CHF has climbed around 4.5% from December’s late low of 0.8332, a 12-year low for the pair. Switzerland enjoys an economic environment massively different from its immediate European neighbors, with inflation […]
Sterling’s rally stalls below 188.00, with the bullish trend intact
The Sterling is going through marginal losses on Thursday, with the pair reaching heavily overbought levels following a strong appreciation on Wednesday. This has allowed the battered Japanese Yen to trim some losses, although the broader trend remains bullish. The pair is consolidating gains, with downside attempts limited above 187.30 so far. The stronger-than-expected UK […]
The Pound Sterling finds strong buying interest
The Pound Sterling (GBP) has surrendered some gains as the United States Retail Sales turned out significantly upbeat than expectations. The US Census Bureau has reported that consumer spending grew strongly by 0.6% against expectations of 0.4% and the former reading of 0.3%. Retail Sales excluding automobiles rose by 0.4% against expectations and the prior […]
The Canadian Dollar gave up further ground to the US Dollar
The Canadian Dollar (CAD) climbed against most of its currency trading peers on Tuesday but fell back against the US Dollar (USD), which took the top spot as the best-performing major currency. Canada’s Consumer Price Index (CPI) inflation in December mostly came in at expectation, but a lack of price growth easing has trimmed market […]
15.01 – Silver price consolidates around $23.60
Silver price (XAG/USD) trades back-and-forth around $23.30 in a thin-volume trading session due to holiday in the US markets on account of Martin Luther King Birthday. The broader appeal for non-yielding assets is still upbeat as investors seem more convinced about a reduction in interest rates by the Federal Reserve (Fed) from March after the […]
