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 […]
US Dollar Index drops to new lows around 96.50 before ISM Manufacturing PMI data
US Dollar Index Sees Its Lowest Point Since March 2022 The US Dollar Index hit a low of 96.62 on Tuesday, marking its lowest level since March 2022. Uncertainty around future policy decisions in July is expected to challenge the dollar. President Trump has criticized Chairman Jerome Powell for being “too late” regarding interest rate […]
Asia-Pacific FX news summary: China’s Caixin Manufacturing PMI rises into growth
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USD/JPY drops under 147.00 as the US Dollar weakens following mixed PMI data and comments from Fed Bowman
The USD/JPY experienced a dip after struggling to maintain above the 100-day moving average near 148.00. In light of reports regarding Iran’s attacks on US Air Force bases in Qatar, the Japanese yen may see increased demand as a safe haven. The US Dollar Index has fallen below 99.00, influenced by mixed PMI data and […]
Australian Dollar stays low after PMI report, focusing on Middle East conflict
The Australian dollar is expected to weaken as market confidence declines following the US’s attack on three Iranian nuclear facilities. In June, Australia’s service PMI rose from 50.6 to 51.3, while the overall PMI increased from 50.5 to 51.2. Federal Reserve Governor Christopher Waller indicated that the US Central Bank might begin reducing interest rates […]
Australian Dollar stays low after RBA Meeting Minutes and China’s Manufacturing PMI
The Australian dollar saw a decline following the release of the RBA minutes from the May Monetary Policy Conference. China’s Caixin Manufacturing PMI dropped to 48.3 in May compared to 50.4 in April, indicating contraction. Despite worries surrounding the economy, the US dollar recovered some of its previous losses. The Australian Dollar (AUD) faced pressure […]