Australian Dollar weakens after poor PMI data from China.
The Australian dollar remains stable, maintaining a 10% baseline tariff on Australian goods. China’s Caixin Manufacturing PMI dropped to 49.5 in July from 50.4 in June, falling short of the anticipated 50.3. Non-farm salaries in the US are expected to remain in a positive range. On Friday, the Australian Dollar (AUD) hit a notable point, […]
GBP/USD declines as Fed delays September cut, US data bolsters Dollar
GBP/USD declines following a Federal Reserve decision to maintain interest rates without guidance for September. US unemployment claims decrease to 218k, reflecting a robust labor market that supports the USD. Year-on-year Core PCE in June rises to 2.8%, with headline PCE at 2.6%, both figures exceeding estimates. During Thursday’s North American session, GBP/USD experienced modest […]
Pound Sterling stabilizes while US Dollar pauses.
The British pound has had a tough time maintaining its upward momentum, struggling to attract interest against the US dollar, which is hovering around 1.3230. In response to concerns raised by Chairman Powell regarding potential inflation risks, traders are adjusting their expectations for interest rates. There’s a sense of anticipation among investors that the Bank […]
Forex Today: US Dollar strengthens from Fed impact, important data ahead
Thursday, July 31st Update The US Dollar (USD) has seen a slight correction today after experiencing a strong rally against its competitors on Wednesday. This strength was supported by solid economic data and a cautious approach from the Federal Reserve regarding its monetary policy. Today’s economic calendar for Europe includes inflation figures from Germany for […]
Australian Dollar remains steady after Retail Sales and China’s PMI figures are released.
The Australian dollar holds steady as retail sales experienced a rise of 1.2% month-over-month in June, significantly surpassing the anticipated 0.4% increase. The NBS Manufacturing Purchase Managers Index in China dropped to 49.3, while the non-manufacturing PMI eased to 50.1 in July. The Federal Reserve maintained benchmark interest rates in the range of 4.25%-4.5% during […]
Pound Sterling levels off against US Dollar before Fed interest rate decision
Sterling is trading around 1.3350 against the US dollar, with investors closely watching for the Federal Reserve’s impending financial policy announcement. There is a prevailing hope among investors that the Fed will hold interest rates steady. Concurrently, a dip in labor demand in the UK is setting the stage for potential interest rate reductions by […]
US Dollar Index stays under 99.00 before Fed policy meeting
The US Dollar Index’s Streak Comes to an End The US Dollar index will halt its winning streak ahead of the Fed rate decision. The Fed is expected to not change its benchmark interest rates in July. US Treasury Secretary Scott Bescent said the US and China will continue to talks on maintaining the tariff […]
EUR/USD declines to 1.1550 as the Dollar gains strength despite poor US data
EUR/USD has dipped 0.33%, marking its biggest daily decline since December 2024 on Monday. US job openings fell short of expectations at 200k, and while consumer confidence has improved, concerns about the job market linger. Traders are on edge, awaiting insights from the Fed, EU inflation, as well as employment and growth data to inform […]
Canadian Dollar keeps falling before Fed rate decision
The Canadian dollar faced further declines on Tuesday as the US dollar continued to strengthen. Lack of economic data from Canada left CAD traders somewhat sidelined. The market sentiment remains bullish for the US dollar, particularly ahead of significant economic reports from the US. The Canadian Dollar (CAD) experienced its fourth straight day of losses […]
The Pound declines in value compared to the US Dollar, attention turns to the Federal Reserve’s monetary policy.
The US dollar remains strong, putting pressure on the pound sterling, which is trading weakly around 1.3350 against it. Investors are anticipating a decision from the Federal Reserve regarding interest rates on Wednesday. UK inflation is rising, which is affecting household spending. The pound sterling (GBP) is hanging around 1.3350 US dollars (USD), hitting a […]