Pound Sterling Dips on Weak UK Retail Sales, But Uptrend Remains Intact
The Pound Sterling (GBP) experienced a decline against major currencies during Friday’s New York session, primarily due to weaker-than-expected UK retail sales data for June. The report revealed a 1.2% contraction in monthly retail sales, surpassing the forecasted 0.4% decline. This sharp drop in retail sales, a key indicator of consumer spending, suggests that UK […]
Aussie Dollar Dips Slightly After Labor Market Data Release
The Australian Dollar (AUD) saw a slight decline against the USD on Thursday, settling around 0.6730. This minor setback was attributed to investor reactions to both Australian and US labor market data, which offered insights into the future decisions of the Reserve Bank of Australia (RBA) and the Federal Reserve. Despite the underperformance of the […]
USD/JPY Technical Forecast: Bearish Momentum Builds as Trendline Breaks
USD/JPY has experienced a sharp decline since its July 3rd peak of 161.95, falling below key technical levels and establishing a bearish trend. The pair’s recent break below the 158.45 trendline and the July 15th low of 157.15 has further reinforced the negative outlook. Key Technical Levels and Downside Targets: The short and intermediate-term trends […]
Silver Price Retreats as US Retail Sales Beat Expectations, But Fed Rate Cut Hopes Remain
Silver (XAG/USD) prices pulled back from recent highs on Tuesday, as the US Dollar (USD) rebounded following stronger-than-expected US Retail Sales data for June. However, the white metal managed to hold above $30.50, supported by persistent expectations of Federal Reserve (Fed) rate cuts in September. Retail Sales Data Boosts USD, But Disinflationary Trend Persists While […]
NZD/USD Struggles Below 0.6100 as Traders Eye US Retail Sales and NZ Inflation
The NZD/USD pair is trading lower near 0.6075 during Tuesday’s Asian session, weighed down by weaker Chinese economic data and a modest US Dollar (USD) rebound. Investors are eagerly anticipating the release of US Retail Sales figures for June and New Zealand’s second-quarter Consumer Price Index (CPI) data on Wednesday. New Zealand CPI and Rate […]
Gold Retraces Gains as Hotter US PPI Tempers Rate Cut Optimism
Gold (XAU/USD) retreated on Friday, reversing some of its previous gains after hotter-than-expected US Producer Price Index (PPI) data for June tempered expectations for aggressive Federal Reserve (Fed) rate cuts. The precious metal, which had rallied following softer consumer inflation data on Thursday, traded lower in the $2,390s as the weekend approached. Inflation Data and […]
Canadian Dollar Weakens as US Inflation Cools, Rate Cut Bets Soar
The Canadian Dollar (CAD) declined against major currencies on Thursday, as softer-than-expected US inflation data ignited renewed hopes for a faster pace of interest rate cuts by the Federal Reserve (Fed). With no significant economic releases from Canada, the CAD remained vulnerable to broader market sentiment. The US Consumer Price Index (CPI) for June surprised […]
US Dollar Drifts as Markets Anticipate Fed Speak and Economic Data
The US Dollar (USD) opened flat on Wednesday following a quiet European session and an uneventful testimony from Federal Reserve Chair Jerome Powell. Powell reiterated the Fed’s commitment to holding interest rates steady until inflation convincingly reaches its 2% target. Market focus now shifts to Wednesday’s events, including a 10-year Treasury Note auction and speeches […]
Mexican Peso Surges on Strong Inflation Data, Diminishing Rate Cut Prospects
The Mexican Peso (MXN) strengthened across major currency pairs on Tuesday, fueled by higher-than-expected inflation data and the persistent allure of its high interest rates. June’s headline inflation exceeded forecasts, coming in at 0.38% month-on-month, while core inflation, excluding volatile food and energy components, reached 0.22%. The 12-month inflation rate also surpassed expectations at 4.98%. […]
Australian Dollar Eases from Multi-Month High, Fed-RBA Divergence Fuels Speculation
The Australian Dollar (AUD) dipped slightly against the US Dollar (USD) on Monday, retreating from its recent multi-month high. Despite this minor pullback, the Aussie remains buoyant, supported by expectations of continued policy divergence between the Federal Reserve (Fed) and the Reserve Bank of Australia (RBA). Market Drivers: Fed Rate Cut Bets vs. Hawkish RBA […]
