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, […]
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 […]
GBP/USD approaches Friday with weakness following disappointing PMI data
GBP/USD ended its three-day winning streak on Thursday, dropping to 1.3500. Despite some positive momentum, the currency faces new challenges at critical technical points. The UK PMI figures fell short on Thursday, but Friday offers another chance for better UK data. On Thursday, GBP/USD reversed a three-day bullish trend, declining from 1.3600 down to 1.3500. […]
Pound Sterling falls as UK PMI sees slight increase in July
The pound is experiencing downward pressure against other currencies due to moderate growth indicated in preliminary UK PMI data for July. There are hopeful signs for increased demand for risk-sensitive assets thanks to the US-EU trade agreement discussions. The Federal Reserve is expected to maintain current interest rates in its upcoming meeting. The British Pound […]
GBP/USD approaches 1.3600 as optimism grows, attention on UK PMI data
GBP/USD could see further valuation as the US dollar weakens due to improved market sentiment. The European Union and the US are nearing an agreement to impose 15% tariffs on EU goods. Traders are anticipating index data from the S&P Purchase Managers in the UK on Thursday. GBP/USD has been holding steady after four days […]
Forex Today: ECB policy decisions and PMI figures to increase market volatility
Market Update for July 24th Here’s a quick look at today’s developments in the financial markets. On Thursday, July 24th, the focus has shifted from trade headlines to the European Central Bank’s upcoming monetary policy announcement. The Economic Calendar will also reveal July’s manufacturing and service purchasing manager index (PMI) data from Germany, the Eurozone, […]
Australian Dollar continues its winning trend after better-than-expected PMI data
The Australian dollar reached a new eight-month high of 0.6617 on Thursday. S&P Australia’s combined PMI increased to 53.6 in July, the highest since April 2022. US Treasury Secretary Scott Beast mentioned that the next Federal Reserve Chair candidate might be named in December or January. The Australian Dollar (AUD) continued to gain against the […]
Australian Dollar holds firm after bouncing back from losses, focus shifts to US ISM Manufacturing PMI
The Australian dollar is rebounding as market sentiment improves, following news of the US reducing its tariff negotiation goals. China’s Kaisin production PMI increased from 48.3 in May to 50.4 in June. The US dollar continues to face setbacks due to uncertainty from the Fed and growing fiscal worries. The Australian Dollar (AUD) is seeing […]
USD/INR declines as traders wait for Powell’s speech and US PMI figures
The Indian rupee is expected to strengthen during early European trading sessions on Tuesday. While the Federal Reserve’s dovish stance and falling oil prices support the INR, a rise in demand for the US dollar may counter this effect. Notably, India’s manufacturing PMI hit a 14-month high in June. Investors will be focused on Federal […]
EUR/USD continues to rise toward 1.1800 before Eurozone inflation and US ISM PMI data
The EUR/USD is expected to hover around 1.1790 during early European sessions on Tuesday. The US is reportedly pursuing narrower deals to secure agreements ahead of Trump’s tariff deadline. Germany’s inflation rate fell to 2.0% in June, which is softer than anticipated. The EUR/USD pair is anticipated to trade on a downward trend near 1.1790 […]