US Services PMI expected to stay in steady growth range
Improvements in US ISM Services PMI observed for July. The U.S. services sector is anticipated to remain in the growth zone. Investors are leaning towards the possibility of two interest rate cuts from the Fed this year. The Institute for Supply Management (ISM) released its July services PMI on Tuesday, with predictions suggesting a rise […]
Australian Dollar stays low while US Dollar remains steady before ISM Services PMI report.
Even with positive domestic S&P PMI data, the Australian dollar faces pressure. China’s Caixin Services PMI rose unexpectedly to 52.6 in July, compared to the forecasted 50.2. Governor Adriana Kugler’s resignation offered Trump an earlier chance to sway the central bank’s direction. The Australian Dollar (AUD) is experiencing a downturn for the second consecutive day, […]
Canadian Dollar remains steady as pressure from a strong U.S. Dollar lessens
Canadian Dollar Weakens Amid Market Developments The Canadian dollar lost some momentum on Monday following a strong performance in the market last week. Many Canadian markets are closed at the start of the week due to public holidays, affecting overall trading activity. This week features essential labor data from Canada, which will inform expectations regarding […]
EUR/USD holds steady under 1.1600 as weak US employment numbers raise hopes for an interest rate cut, while Eurozone outlook weakens.
The EUR/USD pair remains steady near 1.1600 on Monday, reflecting Friday’s robust NFP gains. Investor sentiment in the Eurozone declines as the Sentix Investor Confidence Index drops from 4.5 in July to -3.7 in August. US factory orders decreased by 4.8% in June, reversing the 8.3% increase seen in May and hinting at a slowdown […]
Gold remains steady above a one-month low as traders appear hesitant before the US jobs report.
Gold Prices Struggle Amidst USD Strength Gold prices have faced challenges in making gains overnight due to the Fed’s recent moves. The USD has reached new highs, limiting the potential for precious metals to rise. Market uncertainty is creating a favorable environment for the XAU/USD pair as traders await US NFP data. During the Asian […]
Core PCE inflation remains steady at 2.8% in June, compared to the expected 2.7%
Core PCE inflation in June remained steady at 2.8% The US dollar index is hovering just below 100.00. According to a report from the U.S. Bureau of Economic Analysis, annual inflation in the U.S. rose from 2.4% in May (which was revised from 2.3%) to 2.6% in June. This figure surpassed market predictions, which were […]
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 […]
EUR/USD falls as Fed keeps rates steady; Waller and Bowman disagree
The Fed remains stable, with two governors supporting a 25 bps cut. The statement indicates “increased uncertainty” and moderate growth early this year. EUR/USD is set to decline near 1.1475, with main support at 1.1450. During the North American session, the EUR/USD pair experienced a decline. This was largely influenced by the Federal Open Market […]
Central bank holds rates steady, but two oppose the decision to take a cautious stance
Federal Reserve Stands Firm on Interest Rates Amidst Trump Pressure On Wednesday, the Federal Reserve decided to keep interest rates unchanged, despite significant pressure from President Trump. For context, the Federal Open Market Committee has maintained its benchmark rate since last December, holding it steady at a range between 4.25% and 4.5%. This decision marks […]
Australian Dollar stays weak while US Dollar remains steady amidst trade optimism.
The Australian dollar is currently facing challenges as the US dollar gains traction, bolstered by optimism surrounding a trade agreement between the US and the European Union. US-China trade discussions are set to recommence on Tuesday. The Reserve Bank of Australia (RBA) is expected to closely observe employment data for June and inflation figures for […]