Pound Sterling depreciates further against the US Dollar before Fed Powell’s speech.
The British pound (GBP) has seen a continued decline against the US dollar (USD) for the third consecutive day, dropping to about 1.3365 on Thursday. This comes as the US dollar index (DXY) rebounded after a previous dip. During European trading hours, the DXY, which measures the dollar against six major currencies, first corrected to […]
Australian Dollar depreciates as US Dollar holds gains due to stronger consumer spending – FXStreet
The Australian dollar has stagnated as employment changes came at 32.2K against a consensus forecast of 40k. Australia’s unemployment rate rose to 4.1% in March, with market forecasts just below 4.2%. The US dollar received support as consumer spending was strengthened in March. Australian Dollar (AUD) trades lower USD (USD), snaps a 6-day winning streak. […]
Australian Dollar depreciates as US Dollar gains ground amid market caution – FXStreet
The Australian dollar is struggling amid widespread risk aversion and ongoing economic concerns in China. Strong Australian economic data lowered expectations for further interest rate cuts by the Reserve Bank last week. Traders adopted caution ahead of the data release of the US consumer price index on Wednesday. The Australian Dollar (AUD) has become weaker […]
EUR/JPY depreciates to near 159.50 as Japanese Yen rises amid hawkish BoJ – FXStreet
EUR/JPY will lose ground as the Japanese yen moves forward, as the BOJ rate hikes grow even more. Japanese pastor Kinosaki said the authorities will take appropriate measures regarding US mutual tariffs. As expected, Eurozone GDP could remain consistent in the previous year of 0.9% growth in the fourth quarter. EUR/JPY continues to lose ground […]
Mexican Peso depreciates on rumors of Lighthizer trade appointment – FXStreet
The Mexican peso has fallen following rumors that Donald Trump has offered Robert Lighthizer the job of trade representative. The former U.S. trade representative is known for his protectionist stance and could weigh on Mexico in future negotiations. Concerns that the Republicans will gain a majority in Congress and achieve a “clean sweep” have further […]
Japanese Yen depreciates as US Dollar holds ground, ADP Employment Change awaited – FXStreet
The Japanese yen fell as the Bank of Japan's opinion summary indicated it intended to maintain an accommodative monetary stance. Japan's Minister of Economy, Trade and Industry Akazawa said Prime Minister Ishiba expected the Bank of Japan to conduct an economic assessment before raising interest rates further. The U.S. dollar has found support as traders […]
EUR/JPY depreciates to near 156.00 as BoJ holds hawkish stance – FXStreet
EUR/JPY fell after the Bank of Japan hinted at further interest rate hikes if the economic outlook meets expectations. The Bank of Japan may raise interest rates to 0.5% by the end of 2024, according to a Fitch Ratings report. ECB policymaker Joachim Nagel said core inflation was heading in the right direction. EUR/JPY fell […]
Japanese Yen depreciates as US Dollar gains ground due to higher Treasury yields – FXStreet
The Japanese yen pared its intraday gains despite the hawkish outlook for the Bank of Japan. Japan’s parliament is due to hold a special session to discuss the Bank of Japan’s interest rate hike last month. Weak U.S. Producer Price Index (PPI) data has reduced the chances of a significant Fed rate cut in September. […]
Australian Dollar depreciates on softer Aussie inflation data, improved US Dollar – FXStreet
share: The Australian dollar fell for a second straight session on weak inflation data from Australia. Australia’s monthly CPI was 3.4% in December, down from 4.3% in November. Traders expect the Reserve Bank of Australia to cut interest rates twice in 2024. China’s non-manufacturing PMI and manufacturing PMI improved to 50.7 and 49.2, […]