US Dollar bulls appear and stop the bleeding – FXStreet
The US dollar is on an upward trend following fluctuations due to decisions by the Federal Reserve (Fed). The New York Fed's nowcasting model projects strong economic growth in the third and fourth quarters. The Federal Reserve expects financial conditions to remain accommodative, supporting the economy. The U.S. economy is experiencing a gradual slowdown, but […]
GBP/JPY falls to near 189.00 following the BoJ interest rates decision – FXStreet
GBP/JPY lost its upward momentum after the Bank of Japan's interest rate decision was announced. The Bank of Japan decided at its meeting on Friday to keep current interest rates unchanged at 0.15%. Policymakers are awaiting UK retail sales data for August to gain further insight into how the UK economy is performing. GBP/JPY ended […]
EUR/USD grapples with higher ground as Fed cuts weigh on Greenback – FXStreet
EUR/USD traded at the 1.1150 level on Thursday. Broad-based dollar selling has led to bullish trends in U.S. dollar-based currency pairs. Eurozone data remains weak as markets focus on Fed rate cuts. EUR/USD made higher highs on Thursday and held firm above the 1.1150 level, but most of the bullish momentum for this pair is […]
US Dollar declines as market digests FOMC decision – FXStreet
The FOMC meeting ended with a 50 basis point cut in interest rates to a range of 4.75% to 5.00%. The dot plot suggests a gradual easing cycle implying three rate cuts in 2024. At a press conference, Chairman Powell stressed that the Fed is in no rush. The US Dollar Index (DXY), which measures […]
EUR/GBP Price Analysis: Technical outlook favors the downside as selling pressure mounts – FXStreet
EUR/GBP has fallen further as buying pressure continues to subside. The latest price movements and technical indicators suggest that further declines are possible. 0.8380 will act as a strong barrier for sellers. On Thursday’s session, EUR/GBP fell below 0.8400, dropping slightly by 0.20%. On the technical side, the overall trend remains bearish amid intensifying selling […]
EUR/USD flat lines above 1.1100 after Fed's bumper rate cut – FXStreet
EUR/USD was trading sideways around the 1.1120 level in early European session on Thursday. At its September meeting, the Fed cut interest rates by 50 basis points, setting a new target range for interest rates of 4.75% to 5.00%. The euro area's annual HICP stabilized at 2.2% in August, as expected. The EUR/USD pair traded […]
Australian Dollar advances despite Fed caution, awaits PBoC Interest Rate Decision – FXStreet
The Australian dollar rose after new job creation rose more than expected in August. Australian employment change increased by 47.5K in August, beating the consensus forecast of 25.0K. The Federal Reserve's significant interest rate cuts demonstrate its determination to protect the labor market and protect the economy from recession. The Australian Dollar (AUD) has recovered […]
Japanese Yen remains subdued as Fed’s Powell says 50 bps cuts are not a new pace – FXStreet
The Japanese yen fell after Fed Chairman Powell stressed that a 50 basis point rate cut was not a “new pace.” Hawkish views on the Bank of Japan could limit the yen's decline. Federal Reserve policymakers raised their longer-term outlook for the federal funds rate to 2.9% from 2.8%. The Japanese Yen (JPY) pared intraday […]
GBP/USD holds steady as BoE rate call looms ahead – FXStreet
GBP/USD hits highest 30-month price following Fed rate cut. The BoE's interest rate forecasts are due to be released on Thursday but no changes are expected. UK retail sales are due to close the week on Friday. GBP/USD rose to a 30-month high on Wednesday, approaching 1.3300, after the US Federal Reserve cut interest rates […]
USD/JPY plunges after Fed delivers 50 bps rate cut – FXStreet
USD/JPY fell in response to the Fed's 50bps rate cut but has since recovered. The dot plot for the Fed's interest rate outlook also fell. Fed Chairman Powell eased initial market fears at a press conference. The US dollar fell to $140.80 against the Japanese yen on Wednesday after the Federal Reserve announced a 50 […]