EUR/USD recovers to 1.0817 following Fed’s steady rate decision
The EUR/USD trims some losses, though it remains virtually unchanged after the US Federal Reserve (Fed) decided to hold rates unchanged and shrugged off market bets to cut rates in March. Nevertheless, the US central bank is looking forward to easing policy. At the time of writing, the pair exchanges hands at 1.0817 after testing […]
The AUD/USD fell below 0.6600 following Powell’s presser
In Wednesday’s session, the AUD/USD fell towards 0.6560 after initially rising above 0.6600. The Federal Reserve (Fed) didn’t change its policy as expected but Jerome Powell considered that cutting in March wasn’t likely during its presser which made the US Dollar recover. In addition, Jerome Powell noted that the inflation data from the last six […]
AUD/USD drops below 0.6600
The AUD/USD pair has dropped below the round-level support of 0.6600 in the late European session. The Aussie asset faces a sell-off as the market mood has turned downbeat due to deepening Middle East tensions. S&P500 futures are facing decent losses in the early New York session, portraying a decline in the risk appetite of […]
The DXY Index is exhibiting firm gains
The US Dollar (USD) Index soared on Monday, trading at 103.75 with gains hitting highs unseen since mid-December. This surge comes ahead of what is anticipated to be an eventful week with the first Federal Reserve (Fed) decision of 2024 on Wednesday and key labor market figures from the US on Friday. In that sense, […]
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 […]
