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Forexlive Americas FX news wrap 18 Apr: Fed official more hawkish. ECB official dovish.

Apr 18, 2024 | 14:04 pm

NASDAQ index and S&P index down for the fifth consecutive dayBOJ Ueda:Chance weak Yen might affect trend inflation and if so could lead to policy shiftJapan's FM Suzuki: FX levels reflecting various factors, not just rate differentialsCrude oil settles at $82.73Iranian Foreign Minister: Iran had no other option but to attack IsraelUS treasury auctions $23B of 5 year TIPS at 2.242%SNB's Martin: Interest rates, FX interventions have bought inflation under controlAtlanta Fed president Bostic: US inflation is too highWhite House: Will keep options open for more Iranian sanctionsEuropean major indices closing higherBOE Greene:Latest pay data shows pretty high wage growth,but moving in the right directionECB Rehn:Inflation is converging towards the ECBs 2% targetUS leading index for March -0.3% versus -0.1% estimateUS existing home sales for March 4.19M versus 4.20M estimateUS dollar moving higher. NY Fed Pres. Williams doesn't rule out a fed hike if neededNY Fed Pres. Williams: I don't feel an urgency to cut ratesKickstart your FX trading for April 18 w/ a technical look at EURUSD, USDJPY and GBPUSD.Fed's Bowman doesn't comment on monetary policy in textPhilly Fed April manufacturing business index +15.5 vs +2.3 expectedUS initial jobless claims 212K vs 215K estimateECB's Knot: Not uncomfortable with market pricing of rate cutsThe CHF is the strongest and the JPY is the weakest as the NA session beginsForexLive European FX news wrap: Currencies muted on lack of meaningful dataAs the trading day comes to an end, the CAD and the USD are ending as the strongest of the major currencies and the EUR is the weakest . However, the variation from the strongest to the weakest was relatively close. The economic calendar today saw the Philadelphia Fed manufacturing business index rise join in expectations of 15.5 versus 2.3. Initial jobless claims continues to show steady strength. Later existing home sales came in as expected.The US dollar got a boost after Fed officials continued to talk more hawkish/less dovish than .NY Fed President Williams spoke about the current state of the economy and the Federal Reserve's monetary policy, expressing that he does not feel an urgency to cut interest rates at the moment. He highlighted that the economy is strong and economic imbalances have been reduced, suggesting that the current Fed rates have not overly slowed the economy. Williams emphasized that monetary policy is currently well-positioned but acknowledged that interest rates will eventually need to be lowered depending on economic activity. He also mentioned that further rate hikes are not his baseline forecast, but the Fed would consider them if the data supported such a move. Additionally, he reiterated the importance of the Fed's 2% inflation target and the need for the Fed to continue working toward lowering inflation. Williams also noted that he is keeping an eye on China's economic performance, indicating its potential impact on the global economy. US rates and the US dollar moved higher after Williams kept the window open for a rate hike (even though it was not his baseline). Later in the day, Atlanta Fed President Bostic reiterated his recent view. He addressed concerns regarding current US inflation levels, stating they remain too high and acknowledging that there's still significant progress needed to control inflation. Despite the urgency of the situation, Bostic expressed a readiness to approach adjustments with patience, emphasizing that there is no need to rush the process. He suggested that maintaining stable jobs and wages, while ensuring inflation moves towards the target, could justify keeping interest rates steady for the time being. Bostic remains optimistic about the economic outlook, not foreseeing a recession and predicting continued growth as the economy aligns more closely with the Fed's dual mandates. However, he indicated that any potential rate reductions would likely not occur until towards the end of the year.The Fed officials are looking for a cut, but when is anyone guess. However, it is not June and July and more likely September being the earliest. In contrast to the more hawkish Fed, the ECB commentary today had the common theme of a June rate cut. ECB's Knot expressed his comfort with the market's expectations of rate cuts, reflecting a positive outlook on the disinflationary process. He indicated a harmonious stance with market sentiment, which anticipates a rate cut in June. Concurrently, ECB's Nagel also commented, foreseeing a cautious decline in rates starting in June, which suggests a coordinated and gradual approach to easing monetary policy within the ECB as inflation pressures begin to easeECB's Rehn spoke later and discussed the current state of inflation, noting its convergence towards the ECB's 2% target. He emphasized that ongoing monetary restraint has effectively helped to reduce inflation and its broader impact on the real economy. Rehn pointed out that while the ECB's rates have been crucial in the disinflation process, there is no longer a need to maintain them at the current high levels for an extended period. He indicated that, assuming no further geopolitical or energy price setbacks, it would be appropriate to begin easing the monetary policy stance and consider rate cuts as soon as June, provided the confidence that inflation will continue to sustainably approach the 2% target.From the Bank of England today, BOE's Greene commented on the latest economic indicators and was a bit more hawkish. She noted that recent pay data shows a substantial increase in wage growth, which, although high, is moving in a favorable direction. Despite this, the latest inflation data slightly exceeded expectations, presenting a challenge in achieving a sustainable return to the BOE's 2% inflation target. Greene highlighted inconsistencies between wage growth and services price inflation, which could hinder progress towards stabilizing inflation. He also mentioned that the UK labor market is beginning to loosen yet remains relatively tight, projecting that inflation may meet the target in the upcoming months but is unlikely to remain stable. Consequently, Greene does not anticipate a rate cut in the near futureLooking at the other markets as the day comes to an end:Crude oil is trading lower By about $0.85 or[…]

Japanese CPI highlights the Asia-Pacific economic calendar

Apr 18, 2024 | 13:58 pm

Eamonn is off today so I'll be subbing during the Asia-Pacific session. It's not a busy on in terms of economic data but there is one big highlight with Japanese CPI for March. It's due at 2330 GMT, or 8:30 am in Tokyo.The consensus is for 2.6% y/y, down from 2.8%. Recently, BOJ officials have been downplaying inflation and appear to be searching for other reasons to hike rates, including a soft currency.Today Ueda said there is a chance the weak yen might affect trend inflation and if so could lead to policy shift. This article was written by Adam Button at www.forexlive.com.

NASDAQ index and S&P index down for the fifth consecutive day

Apr 18, 2024 | 13:08 pm

The major stock indices are closing mixed with the Dow industrial average moving higher. The broader S&P and NASDAQ indices closed lower for the fifth consecutive day. The Russell 2000 also moved lower for its fifth day in a row.A snapshot of the closing levels shows:Dow industrial average up 22.07 points or 0.06% at 37775.37S&P index down -11.11 points or -0.22% at 5011.11NASDAQ index -81.87 points or -0.52% at 15601.50The small-cap Russell 2000 fell -4.88 points or -0.26% at 1942.95.With one day left in the trading week: Dow Industrial Average -0.55%S&P index -2.19%NASDAQ index -3 55%. On pace for the worst week since September 2023Russell 2000 -3.006% This article was written by Greg Michalowski at www.forexlive.com.

Netflix reports revenue of $9.37 billion vs $9.27 billion expected. Shares pop then drop

Apr 18, 2024 | 13:02 pm

Earnings of $5.28 vs $4.52 estimateStreaming paid additions of 9.33m vs 5.11m estQ2 outlook $4.68 vs $4.54 estOperating income $2.633B vs $2.428B estShares were initially up 3% after hours then fell to -7% and are now -4%."We’re raising our FY24 operating margin forecast to 25%, based on F/X rates as of January ‘24, up from 24," the company said.They also said they're "scaling ads to become a more meaningful contributor to our business in ‘25 and beyond." So we'll all continue to pay the $15/month and it won't be long before we get ads with that too.The company also seems to be leaning into pulp lately, including hiring a new chief in the movie division. They said they want to improve the variety and quality of the entertainment "with more, great TV shows and movies, a stronger slate of games and must-watch live programming."For Q2’24, they forecast revenue growth of 16%.I wonder if that isn't a technical reaction. The numbers probably weren't good enough to break above this month's $639 high and profit taking hit. This article was written by Adam Button at www.forexlive.com.

Netflix earnings to be released after the close. What are the technicals saying?

Apr 18, 2024 | 12:52 pm

Netflix will announce earnings after the close. The expectations are for:Earnings Per Share (EPS): Expected at $4.52.Revenue: Forecasted at $9.28 billion.Total Memberships: Anticipated to reach 264.21 million.Netflix is transitioning from targeting subscription growth to a profit prioritizing model. As such they have announced price hikes: enforcing their password sharing policies. There also exploring ad supported subscriptions, video gaming, and broadcasting live sports.Netflix shares are trading down 2 dollars or -0.32% at $611.72 going into the earnings. The price at the end of 2023 was $486.88. The price is up in around 25% for the year. Its all-time high price reached $700.99 back in November 2021. The high price this year has come in at $639..In 2023 the stock price rose 65.11%.Looking at the daily chart below, the price is going into earnings after testing trendline support AND its 50-day moving average today (black MA line). A move below those levels opens the door for more downside corrective probing. The 38.2% comes in at $571.33. A move to that level would imply a -6.5% decline from current levels. On a move higher, traders would be looking for the high from the year at $639. That would imply a gain of around 4.35% from current levels. This article was written by Greg Michalowski at www.forexlive.com.

Mexican Peso slumps on Fed signaling ‘higher-for-longer’ interest rates

Apr 18, 2024 | 12:26 pm

The Mexican Peso depreciated against the US Dollar as sentiment shifted sour on Thursday.

EUR/JPY Price Analysis: Bulls Maintain Control, consolidation phase likely

Apr 18, 2024 | 12:23 pm

The EUR/JPY slightly declined to 164.70 in Thursday’s session.

US Dollar recovers on hawkish Fed bets and higher US yields

Apr 18, 2024 | 12:01 pm

The US Dollar Index (DXY) rose toward 106.25 on Thursday and appears on track to test the November 1 high near 107.10.

Argentina Trade Balance (MoM) rose from previous $1438M to $2059M in March

Apr 18, 2024 | 12:00 pm

Argentina Trade Balance (MoM) rose from previous $1438M to $2059M in March

Japan's FM Suzuki: FX levels reflecting various factors, not just rate differentials

Apr 18, 2024 | 11:43 am

Japan's finance Minister Suzuki says:FX levels reflecting various factors, not just rate differentialsContinue to be in close communications with US in regard to Forex This article was written by Greg Michalowski at www.forexlive.com.

Forex Today: The Fed’s tighter-for-longer stance supports the Dollar

Apr 18, 2024 | 11:39 am

Further hawkish comments from Fed speakers lent extra legs to the Greenback and sparked a decent bounce in US yields, while the ECB's officials continued to advocate the start of the bank’s easing programme in the summer.

Crude oil settles at $82.73

Apr 18, 2024 | 11:34 am

Crude oil futures features are settling at $82.73. That's up $0.04 or 0.05% This article was written by Greg Michalowski at www.forexlive.com.

Dow Jones falls in higher US yields, hawkish Fed comments

Apr 18, 2024 | 11:14 am

The Dow Jones Industrial Average (DJIA) is finally posting gains in January as investors digest the strong US economic outlook and pare back their interest rate cut hopes.

Silver Price Analysis: XAG/USD clings to $28.00 amid high US yields

Apr 18, 2024 | 11:13 am

Silver clings to modest gains of 0.29% and stays above $28.00 for the sixth consecutive trading day amid higher US Treasury bond yields and a strong US Dollar.

Canadian Dollar gives away earlier gains on hawkish Fed and strong US data

Apr 18, 2024 | 11:01 am

The Canadian Dollar (CAD) is trading higher for the second consecutive session on Thursday, yet with weaker bullish momentum.

Pound Sterling stays firm amid BoE, Fed commentary and US data

Apr 18, 2024 | 10:37 am

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Iranian Foreign Minister: Iran had no other option but to attack Israel

Apr 18, 2024 | 10:26 am

Geopolitical news: Iranian foreign minister says that Iran had no other option but to attack Israel.Iran's defense and countermeasures has concluded and Israel must be compelled to stop any further military adventurism against our interestsSince Tuesday, the saber rattling has died down a bit between Iran and Israel as diplomacy seems to be in motion.More from Iran's foreign minister:if any use of force by Israel or violation of Iran sovereignty, Iran's response will be decisive and proper to make Israel regret it's actions.I guess that comment is a bit more aggressive... This article was written by Greg Michalowski at www.forexlive.com.

GBP/USD stays firm amid BoE, Fed commentary and US data

Apr 18, 2024 | 10:12 am

The Pound Sterling is virtually unchanged against the US Dollar in the mid-North American session, amid a scarce economic docket in the United Kingdom (UK) if not interrupted by Bank of England (BoE) member Megan Greene.

US broader indices give up gains

Apr 18, 2024 | 10:10 am

The broader US stock indices have given up their gains:S&P index is unchanged at 5022.07. At session highs the index was up 34.44 points.NASDAQ index is down -18 points or -0.12% at 15665.94. At session highs the index was up 102.75 pointsThe Dow industrial average is still higher by 34.5 points or 0.09% at 37790 (at session highs the index was up 330.44 points). The Russell 2000 is also still higher by 8.52 points or 0.44% at 1956.47 (at session highs index was up 23.44 points).. This article was written by Greg Michalowski at www.forexlive.com.

US treasury auctions $23B of 5 year TIPS at 2.242%

Apr 18, 2024 | 10:05 am

High-yield 2.242%Tail -2.8 basis points vs six-month average of -0.1 basis pointsBid to cover 2.58X versus six-month average of 2.45XDirects (domestic) 17.8% versus six-month average of 16.5% Indirects (international buyers) 78.3% versus six-month average of 76.0%Solid auction. This article was written by Greg Michalowski at www.forexlive.com.

Arm Holdings Stock Forecast: ARM sinks for fifth straight day

Apr 18, 2024 | 09:52 am

Arm Holdings (ARM) stock opened lower on Thursday, aiming for its fifth consecutive losing session.

EUR/USD retreats to 1.0645 lows following dovish comments from ECB members

Apr 18, 2024 | 09:48 am

The Euro recovery has been capped a few pips shy of the 1.0700 area, and the pair pulled lower on Thursday, to hit intra-day lows at 1.0645.

Fed’s Bostic: Rate cuts are likely by year end

Apr 18, 2024 | 09:24 am

Speaking at the Greater Fort Lauderdale Alliance in Florida on Thursday, Atlanta Federal Reserve Bank President Raphael Bostic noted that U.S.

White House: Will keep options open for more Iranian sanctions

Apr 18, 2024 | 08:59 am

It is reported that the US was willing to trade an attack from Israel on Rafah vs an attack on Iran. The White House is now saying that the keep options open for more Iranian sanctions. Clearly, the White House would prefer to diffuse the Iran/Israel issues. This article was written by Greg Michalowski at www.forexlive.com.

Geopolitical risks and stocks [Video]

Apr 18, 2024 | 08:48 am

In today's TradeGATEHub Live Trading session, the focus is on the potential recovery of stocks now that geopolitical risks seem to be temporarily subdued.

European major indices closing higher

Apr 18, 2024 | 08:38 am

Major European indices are closing higher for the second . The gains are led by the Spain's Ibex which rose by 1.3%.A look at the final numbers shows:German DAX, +0.45%France CAC, +0.55%UK FTSE 100 +0.44%Spain's Ibex was 1.30%Italy's FTSE MIB +0.74%As London/European traders headfor the exits, US stocks are also higher:Dow industrial average up 261.43 points or 0.69% at 38013S&P index up 24.45 points or 0.49% at 5046.85NASDAQ index up 73 points or 0.46% at 15756.37Russell 2000 up +20.77 points or 1.07% at 1968.72The gains come despite higher yields in the US after NY Fed Pres. Williams did not shut the door on the potential for a rate hike if needed. Having said that, he said that "rates were at a good place".Crude oil is lower. Gold is higher by $23.85 or 1.01% at $2384.11.Bitcoin is also moving higher in trades at $63,701. The low price today reached $60,830.The strongest to the weakest has shifting in the morning FX market with the CAD now the strongest and the JPY as the weakest. However, the major currencies are all "scrunched" together. The USD is mixed with gains vs the EUR, JPY ,CHF and declines vs the GBP, CAD and NZD. The changes are all within 0.12% of the closing level from yesterday. This article was written by Greg Michalowski at www.forexlive.com.

United States 4-Week Bill Auction rose from previous 5.27% to 5.28%

Apr 18, 2024 | 08:34 am

United States 4-Week Bill Auction rose from previous 5.27% to 5.28%

Gold price shines as geopolitical tensions outweigh faded US rate cut hopes

Apr 18, 2024 | 07:43 am

Gold price (XAU/USD) rebounds to $2,380 in Thursday’s early American session after posting losses on Wednesday.

Pound Sterling weakens against US Dollar amid dismal market mood

Apr 18, 2024 | 07:31 am

The Pound Sterling (GBP) retreats from 1.2480 in Thursday’s early New York session.

Oil set to end the day unchanged with tit for tat ramping up between Israel and Iran

Apr 18, 2024 | 07:30 am

Oil prices are erasing earlier losses after harsh rhetoric from Iran which said it is ready to respond when Israel should retaliate. More specific, Iran vowed to target several nuclear sites in Israel, which would mean substantial damage on

United States EIA Natural Gas Storage Change registered at 50B, below expectations (54B) in April 12

Apr 18, 2024 | 07:30 am

United States EIA Natural Gas Storage Change registered at 50B, below expectations (54B) in April 12

US Dollar turns green after Williams suggests rate hikes are still an option

Apr 18, 2024 | 07:28 am

The US Dollar is turning green against most major peers after this Thursday's data underlined yet again the US Dollar exceptionalism. Upbeat surprises all around for the weekly Jobless numbers and as well for the Philadelphia Fed

NZD/USD Price Analysis: Recovery stalls near 0.5920 as US Dollar rebounds

Apr 18, 2024 | 07:19 am

The NZD/USD pair struggles to extend recovery above the immediate resistance of 0.5920 in Thursday’s early American session.

EUR/USD declines after comments from de Galhau

Apr 18, 2024 | 07:07 am

EUR/USD is trading in the 1.0680s on Thursday, marginally higher on the day, building on the U-turn it began midweek after touching down at the 1.0601 lows of April.

US leading index for March -0.3% versus -0.1% estimate

Apr 18, 2024 | 07:01 am

Prior month +0.1% revised from +0.2%leading Index for March -0.3% versus -0.1% estimateLast month, the 0.2% gain was the first since March 2022. It is back in the red for the forward looking indicator. This article was written by Greg Michalowski at www.forexlive.com.

United States Existing Home Sales Change (MoM): -4.3% (March) vs previous 9.5%

Apr 18, 2024 | 07:00 am

United States Existing Home Sales Change (MoM): -4.3% (March) vs previous 9.5%

United States Existing Home Sales (MoM) came in at 4.19M below forecasts (4.2M) in March

Apr 18, 2024 | 07:00 am

United States Existing Home Sales (MoM) came in at 4.19M below forecasts (4.2M) in March

US existing home sales for March 4.19M versus 4.20M estimate

Apr 18, 2024 | 07:00 am

Prior month 4.38M annualized rateExisting home sales 4.19 million for March versus 4.20 million estimateExisting home sales percentage change -4.3% YoY existing home sales fell -3.7%Existing home sale price rose 4.8% from March 2023 to $393,500 (up from $375,300 last year). That is the ninth consecutive month of year-over-year price gains in the highest price ever for the month of Marchinventory of unsold homes grew 4.7% from one month ago to 1.11 million for the equivalent of 3.2 month supply at the current monthly sales pace. That is up from 2.9 months last month, and 2.7 months in March 2023.Other detailsDays on the market 33 versus 38 daysInvestor purchases 15% versus 21%First-time buyer 32% versus 26% last month and 28% in March 2023SALES accounted for 28% of transactions in March. That is down from 33% in February and up from 27% last year.The 30 year fixed-rate mortgage averaged 6.88% as of April 11 up from 6.82% the previous week and 6.27% one year agoRegionally,Northeast:Sales increased by 4.2% from February to an annual rate of 500,000 in March.Year-over-year, sales were down 3.8%.Median price was $434,600, up 9.9% from last year.Midwest:Sales decreased by 1.9% from the previous month to an annual rate of 1.01 million in March.Year-over-year, sales were down 1.0%.Median price was $292,400, up 7.5% from last year.South:Sales dropped by 5.9% from February to an annual rate of 1.9 million in March.Year-over-year, sales were down 5.0%.Median price was $359,100, up 3.4% from last year.West:Sales declined by 8.2% from the previous month to an annual rate of 780,000 in March.Year-over-year, sales were down 3.7%.Median price was $603,000, up 6.7% from last year."Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves," said NAR Chief Economist Lawrence Yun. "There are nearly six million more jobs now compared to pre-COVID highs, which suggests more aspiring home buyers exist in the market." This article was written by Greg Michalowski at www.forexlive.com.

US stocks open mixed. NASDAQ is lower. S&P is near unchanged.

Apr 18, 2024 | 06:40 am

US stocks are opening mixed with the NASDAQ lower. The S&P is trading above and below unchanged. The Dow industrial average is marginally higher. A snapshot of the market eight minutes into the open is showing:Dow industrial average up 84.29 points or 0.22% at 37837.61S&P index is down -6.51 points or -0.13% at 5015.71.NASDAQ index is down -50.60 points or -0.32% at 15632.77.The small-cap Russell 2000 indexes up 0.21 points or 0.01% at 1948.16.For the trading week:Dow industrial average -0.24%S&P index -2.02%NASDAQ index -3.35%Russell 2000-2.69%US yields have moved higher after the stronger than expected Philadelphia Fed index. The initial and continuing jobless claims were steady and indicative of a solid employment picture. NY Fed Pres. Williams reiterated that policy is a good place and that the Fed is not very to cut rates.2-year yield 4.975%, +4.3 basis points5-year yield 4.660%, +4.3 basis points10-year yield 4.622%, +3.7 basis points30 year yield 4.720%, +2.2 basis pointsin other markets:crude oil is trading down six cents at $82.62.Gold is trading at $17.30 or 0.73% at 2377.28Bitcoin is trading at $62,331 This article was written by Greg Michalowski at www.forexlive.com.

Fed's Williams: No urgency to cut rates

Apr 18, 2024 | 06:32 am

New York Federal Reserve President John Williams said on Thursday that he doesn't feel an urgency to cut rates, per Reuters.

Mexican Peso traces out a line after Banxico Heath’s comments

Apr 18, 2024 | 06:30 am

The Mexican Peso (MXN) traces a flat line on most charts on Thursday, as traders digest the previous day’s gains prompted by comments from Banxico Deputy Governor Jonathan Heath.

Silver Price Analysis: Trading at the top of a four-year consolidation zone

Apr 18, 2024 | 06:24 am

Silver (XAG/USD) has broken out of the narrow range it was trapped in since the start of 2023, which ran from between roughly $21.00 and $26.00, and risen up to the top of a larger consolidation.

EUR/GBP recovers to 0.8550 as ECB Lagarde see fight with inflation is still on

Apr 18, 2024 | 06:21 am

The EUR/GBP pair extends its recovery to 0.8550 in the early American session on Thursday.

S&P 500 at 5,000 – Break or hold?

Apr 18, 2024 | 06:03 am

Stock prices kept selling off on Wednesday, with the S&P 500 index closing 0.58% lower and getting near the 5,000 level as the daily low fell at 5,007.25.

Russia Central Bank Reserves $ up to $600.7B from previous $598.3B

Apr 18, 2024 | 06:00 am

Russia Central Bank Reserves $ up to $600.7B from previous $598.3B

US initial jobless claims 212K vs 215K estimate

Apr 18, 2024 | 05:30 am

Prior week initial jobless claims 211K revised to 212Kinitial jobless claims 212K vs 215K estimate4-week moving average of initial jobless claims 214.5K vs 214.5K last week.Prior week continuing claims 1.817M revised to 1.810MContinuing claims 1.812M vs 1.810M estimate4-week moving average of continuing claims 1.805M vs 1.801M last week.The largest increases in initial claims for the week ending April 6 were in New Jersey (+4,339), New York (+2,499), Pennsylvania (+1,783), Texas (+1,523), and Florida (+977), The largest decreases were in Iowa (-1,418), California (-631), Ohio (-530), Nevada (-362), and Maryland (-352).The jobless numbers remain steady. It's not weak. It's steady This article was written by Greg Michalowski at www.forexlive.com.

Philly Fed April manufacturing business index +15.5 vs +2.3 expected

Apr 18, 2024 | 05:30 am

Philly Fed business index:Two-year highPrior was +3.2Employment: -10.7 vs -9.6 priorNew orders: +12.2 vs +5.4 priorPrices paid: +23.0 vs +3.7 priorPrices received: +5.5 vs +4.6 priorShipments: +19.1 vs +11.4 priorUnfilled orders: +0.8 vs +1.0 priorDelivery times: -9.4 vs -16.7 priorInventories: -8.9 vs +4.4 priorAvg employee workweek: -18.7 vs -0.2 priorLook-ahead indexes:Six month index: +34.3 vs 38.6 priorEmployment: +12.8 vs +5.8 priorNew orders: +42.8 vs +49.9 priorShipments: +29.3 vs +43.9 priorPrices paid: +54.5 vs +38.0 priorPrices received: +34.4 vs +37.1 priorThe jump in prices paid is concerning and fits in with broader worries about inflation, though it could also reflect rising oil prices rather than broad cost pressures.As for prices paid, you could argue that last month was a one-off.It's also nowhere near where it was in 2022. This article was written by Adam Button at www.forexlive.com.

Philly Fed and initial jobless claims coming up

Apr 18, 2024 | 05:14 am

The week is breezing by but nerves are increasingly frayed after 4 consecutive declines in US equities. Today's highlight is the duo of the Philly Fed (shown above) and initial jobless claims, both at the bottom of the hour.There are sign of softening in the US jobs market but that hasn't shown up yet in claims. Could today be the day? The consensus is 215K, up from 211K last week. Later we get existing home sales at 10 am ET and a 5-year TIPS auction. The Fed calendar includes Williams at 9:15 am ET and Bostic at 11 am ET.After the close, we get earnings from Netflix. This article was written by Adam Button at www.forexlive.com.

ForexLive European FX news wrap: Currencies muted on lack of meaningful data

Apr 18, 2024 | 04:40 am

Headlines:ECB's de Guindos: Appropriate to loosen restrictive policy if inflation conditions are metBOJ's Noguchi: Some big firms are benefiting from a weaker yenPBOC deputy governor says will keep yuan exchange rate basically stablePBOC cautions against 'one-sided' pursuit of credit expansionSwitzerland March trade balance CHF 3.54 billion vs CHF 3.66 billion priorEurozone February current account balance €29.5 billion vs €39.4 billion priorGerman economy likely expanded in Q1 - BundesbankDollar's dominant status as world's reserve currency set to endure - Morgan StanleyMarkets:GBP leads, JPY lags on the dayEuropean equities a little higher; S&P 500 futures up 0.3%US 10-year yields down 0.6 bps to 4.579%Gold up 0.9% to $2,382.41WTI crude down 0.9% to $81.95Bitcoin up 3.3% to $62,857Major currencies were relatively muted during the session, as the dollar kept steadier for the most part. The greenback fell in trading yesterday but it hasn't really amounted to much in the grand scheme of things.EUR/USD is flat on the day at 1.0671, holding within a 25 pips range, while USD/JPY is also little changed at around 154.45 currently. The pound is a little higher at 1.2473 but remains in a consolidation phase just under 1.2500.Meanwhile, commodity currencies are also lightly changed with USD/CAD down just 0.1% to 1.3756 and AUD/USD up 0.1% to 0.6441 on the day.In the equities space, we are seeing a light bounce in the risk mood. However, it is still early in the day and we'll see if Wall Street will want to carry on with that appetite.It's a bit of a slower week in general as there isn't any major economic data releases. And that seems to be how markets are taking to things in general as of late. On weeks when there is big data, we do get some notable moves across the board. But on weeks like this, it can be quite the slugfest at times. This article was written by Justin Low at www.forexlive.com.

Dollar's dominant status as world's reserve currency set to endure - Morgan Stanley

Apr 18, 2024 | 03:48 am

Morgan Stanley says that the dollar's dominant status as the world's reserve currency is set to persist. That is in part due to its credible challengers, such as the Chinese yuan, being rather lacking at the moment.While there have been some concerns about the dollar's reign at the top recently, Morgan Stanley argues that the greenback can still hold its own. That despite worries about US debt levels and some signs of reserve managers diversifying away from the dollar."We expect USD's dominant reserve currency status to endure despite ongoing challenges from an increasingly multipolar world. This supports our current preference for USD and should provide long-term support, though periods of weakness are to be expected on cyclical conditions and valuations." This article was written by Justin Low at www.forexlive.com.

German economy likely expanded in Q1 - Bundesbank

Apr 18, 2024 | 03:04 am

Unexpected boost from industry and construction likely led to expansion in Q1But there is still no evidence of sustained improvement for the German economyDemand for industrial products domestically and abroad remains weak, continues to declineHigher rates and economic uncertainty are holding back investmentHouseholds are also still hesitant to spendIt is unclear that the increase in economic output will continue in Q2Germany continues to be the sick man of Europe at the moment and that perception has not changed to start the second quarter this year. Weak demand conditions and poor consumption activity are the two main problems. And that in general is a contributive factor for the ECB to look towards loosening policy sooner rather than later. This article was written by Justin Low at www.forexlive.com.

USD/JPY stays underpinned for now with watchful eyes on 155 mark

Apr 18, 2024 | 01:41 am

Even with the drop in Treasury yields yesterday, it did little to faze price action in USD/JPY. The pair remains underpinned but buyers are not gathering enough courage to take things further. For now, the 155.00 hurdle remains one step too far after all the verbal intervention by Japanese officials. But still, the chart shows that buyers remain poised and are keeping in near-term control.The consolidative mood just under 155.00 is reminiscent of when price action was hovering just below the 152.00 mark for roughly two weeks. What traders need is some form of impetus or trigger point to really bolster the case for the next leg higher in the pair.That being said, just be mindful that with each and every step higher, we are definitely pushing the threshold on Tokyo intervention.For now, the near-term chart above shows that buyers are still in control. That is seen as price is holding just above 154.00 with the 100-hour moving average (red line) being defended as well.But without any real trigger points, it would really take some nerve to go wandering closer to 155.00 at this stage. As such, the pair could find itself caught in this range for quite a bit over the next week or so. This article was written by Justin Low at www.forexlive.com.

Eurozone February current account balance €29.5 billion vs €39.4 billion prior

Apr 18, 2024 | 01:00 am

Surpluses were recorded for goods (€34 billion) and services (€7 billion), while deficits were recorded for secondary income (€9 billion) and primary income (€2 billion). This article was written by Justin Low at www.forexlive.com.

Forex Today: Stocks Tumble – Sell in May and Go Away? - 18 April 2024

Apr 18, 2024 | 00:27 am

Stocks Make Deepest Pullback in Months; Precious Metals Remain Strong; Dollar Weakens After G7 Statement; Several Trends May Be Reversing

European equities kick start the day on a more positive footing

Apr 18, 2024 | 00:07 am

Eurostoxx +0.4%Germany DAX +0.2%France CAC 40 +0.4%UK FTSE +0.4%Spain IBEX +0.6%Italy FTSE MIB +0.3%European indices saw gains yesterday tempered after the retreat in stocks in US trading. That ultimately resulted in Wall Street closing lower but the mood today is a better one with S&P 500 futures seen up 0.4%. We'll see if that can last but in any case, the bounce here is still a mild one after the heavy selling so far this month. This article was written by Justin Low at www.forexlive.com.

GBP/USD continues to consolidate below 1.2500 for now

Apr 17, 2024 | 23:58 pm

The near-term chart better depicts the price action in the pair on the week:While the dollar has retreated a little, it hasn't amounted to much in GBP/USD as of yet.The jump after the UK inflation data yesterday stalled upon testing the 100-hour moving average (red line). But buyers have now managed to push past that key near-term level at least. However, they are being resisted by yesterday's high closer to 1.2482 for now at least.In any case, the near-term bias has shifted to being more neutral as price action sits in between the 100 and 200-hour (blue line) moving averages. But buyers are also facing minor resistance and offers closer to 1.2500 for now.To put things more simply, the slight bounce yesterday and today hasn't really meant much in technical terms. It would require more to really convince of a turnaround in the selling from last week. This article was written by Justin Low at www.forexlive.com.

AUD finds support as market ignores risk off tone

Apr 17, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar outperformed through trade on Wednesday, pushing back against recent losses to break above US$0.6450. Commodity currencies were well supported as currency markets ignored a broader risk-off mood and instead forced the USD lower amid a steady fall in treasury yields across the curve. With the USD on the back foot, the AUD found support in higher iron ore prices and stability across the Chinese yuan daily fixing. PBOC officials set a rate largely unchanged from the week's earlier downward revision helping stabilise the yuan and limiting the negative spillover into the AUD as a proxy. Reports of increased activity across China’s steel mills help drive a 5.5% increase in iron ore prices and a break back above $115, adding a floor under the AUD at US$0.64 for the day. Our attention now turns to domestic labour market data for March. Stability across the employment landscape will give the RBA confidence in maintaining the current policy setting and may lend support to the AUD ahead of US jobless claims and commentary from 3 key Fed officials. Key Movers The euro was the day's notable outperformer Wednesday up half a percent and back through 1.0650, marking session highs at 1.0670. European Central Bank President Christine Lagarde paved the way for the Euro advance, suggesting there were clear signs of a euro area recovery and that the Bank was closely monitoring the exchange rate and its potential impact on the euro and inflation. While euro bonds fell, US treasuries also retreated and markets appeared content in ignoring a broader risk-off tone, forcing the USD lower against most major counterparts. UK yields rallied after a stronger-than-expected UK CPI inflation print, driven by a surprise uptick in services inflation. While Governor Bailey suggested he expected a significant correction in next month’s numbers, market pricing for BoE policy change barely shifted with a first full cut not priced in until September, leaving August an outside chance should policymakers choose to move early. Sterling edged higher against the USD, pushing back above 1.2450, yet falling short of a break above 1.25. Our focus now turns to US jobless claims and commentary from key ECB and Fed officials. Expected RangesAUD/USD: 0.6380 - 0.6500 ▲AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9200 - 1.9500 ▼AUD/NZD: 1.0800 - 1.0900 ▲AUD/CAD: 0.8800 - 0.8900 ▲

Bitcoin Halving: Will it Trigger a Market Frenzy?

Apr 17, 2024 | 04:41 am

Bitcoin is all over the news, as “Bitcoin halving” is expected to occur on Friday, April 19. What is Bitcoin halving and how will it affect the price of Bitcoin?

Forex Today: US Yields Rise on Powell Cut Delay Signal

Apr 17, 2024 | 02:00 am

Fed Chair Powell Says Inflation Falling Too Slowly; Israel Hints at Soft Retaliation, Crude Oil Weaker; USD/JPY Reaches New 34-Year High at ¥154.79; UK CPI Higher Than Expected; Bitcoin Close to Halving

AUD slide continues on heels of softer yuan spills

Apr 16, 2024 | 17:00 pm

AUD - Australian dollar Another day and another move lower for the AUD as ongoing weakness across equity markets, a risk-off tone and a lower fixing by the People's Bank of China forced the AUD to mark fresh 2024 lows. The AUD slid through supports at US$0.6440/50 tumbling toward US$US0.64 after the People's Bank of China set a lower fix for the CNY, suggesting there is some flexibility for the yuan to depreciate against the USD in line with markets and yield performance. While state banks sold USD to limit CNY losses the move weighed on the AUD as a proxy among majors. The AUD was unable to recover the early losses and tracked sideways through the overnight session testing a break below US$0.64 before edging back above this critical handle leading into the morning open. We start the day on the back foot and with no headline data on the domestic docket look offshore to NZ, UK and Eurozone CPI data and commentary across several Central banks with members from the Fed, Bank of England and European Central Bank hitting the wires. With inflation pressures taking longer than expected to dissipate we are looking for any clues as to the timing and trajectory of monetary policy change. Key Movers The dollar traded within a narrow range through Tuesday as with much of the action across financial markets contained to equities, yields and rates. US Treasury yields marked fresh 2024 highs while US equities had a mixed session with both the Dow and S&P 500 closing lower. The DXY index traded up 0.16%, buoyed by softness across risk currencies and an extension against the yen. The risk of intervention continues to hang over the yen, yet the USD retained its upward trajectory as markets pushed back against comments from Japanese currency officials. The prohibited cost associated with intervention has allowed markets some scope to doubt calls by officials that intervention is imminent. With US yields driving gains markets remain on edge and we continue to monitor comments. The euro and GBP changed little with the euro trading near US$1.062 and GBP sliding below US$1.2450 and trading near US$1.2430. NZ, UK and Eurozone CPI data and commentary across several Central banks with members from the Fed, Bank of England and European Central Bank hitting the wires will drive direction through the day. Expected RangesAUD/USD: 0.6350 - 0.6500 ▼AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9250 - 1.9550 ▲AUD/NZD: 1.0850 - 1.0950 ▲AUD/CAD: 0.8800 - 0.8900 ▲

Forex Today: Stock Markets See Strong Selling

Apr 15, 2024 | 23:10 pm

Global Stock Markets Firmly Lower; Israel Signals Retaliation Likely Soon; USD/JPY Reaches New 34-Year High at ¥154.44; Energies, Precious Metals Firm; Markets Await Canadian CPI Data

AUD tumbles in face of US economic resilience

Apr 15, 2024 | 17:00 pm

AUD - Australian dollar Against a backdrop of support for the USD, the AUD underperformed through trade on Monday, marking fresh year-to-date lows sliding below US$0.6450. Markets adopted a cautious tone to start the week amid fears tensions in the Middle East are set to escalate following targeted drone and missile attacks launched by Iran. While Israel was afforded advanced warning and nearly all projectiles were intercepted, markets are still fearful of an Israeli counterstrike despite Western Allies urging restraint. A risk-off tone elevated demand for the USD pushing the AUD toward US$0.6450. The AUD then extended below the February year-to-date low, touching US$0.6441, after US retail sales surpassed expectations. The hotter-than-anticipated print points to US economic resilience and forced investors to reconsider Fed pricing expectations, driving US yields higher. A stable yuan did afford the AUD some support with PBOC policymakers intervening to set a higher fixing and increase the costs of shorting the CNY against the USD. With the AUD under pressure, our attentions turn to China activity data, UK labour data and Bank of England Commentary as Governor Bailey hits the wires. Key Movers The USD outperformed on Monday amid a risk-off tone and ongoing signs of economic resilience. Growing tensions in the Middle East and elevated Fears Israel will retaliate and strike back against Iran prompted a risk-off mood leading into trade on Monday. At the same time, stronger-than-expected US retail sales drove US treasury yields higher and forced a shift in Fed pricing expectations. US retail sales printed well above expectations while February numbers were revised higher suggesting consumer spending remained strong through Q1 and provides solid momentum leading into Q2 giving the Fed no reason to consider raising rates before the end of Q3. Against a backdrop of higher yields the Japanese yen underperformed. The USD is up over half a per cent and broken through 154, testing levels not seen in 34 years. Many expected the Bank of Japan and Ministry of Finance would intervene well before these levels, but with losses driven by the outperformance in US treasury yields intervention would be largely ineffective and incredibly costly, thus markets have ignored the jawboning from Japanese officials. Our attention remains on the Middle East and risk demand while UK labour data, China activity data, commentary from the Bank of England Governor and Canadian CPI data dominate a crowded macroeconomic ticket. Expected RangesAUD/USD: 0.6400 - 0.6500 ▼AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9200 - 1.9500 ▲AUD/NZD: 1.0850 - 1.0950 ▲AUD/CAD: 0.8820 - 0.8930 ▼

Forex Today: Risk Sentiment Improves as Mideast Tension Lowers

Apr 15, 2024 | 00:51 am

Immediate Retaliation Against Iran Unlikely; USD/JPY Breaks Out to New 34-Year High Near ¥154; Market Await US Retail Sales Data

Aussie dollar trades below US$0.65

Apr 14, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar is weaker this morning when valued against the Greenback, currently trading at 0.6458 at time of writing. The Aussie dollar came under some renewed selling pressure on Friday and extends its steady intraday descent through the early part of the European session. Spot prices touch a fresh daily low following the release of weaker Chinese trade data, albeit manage to hold above the 0.6500 psychological mark. Some follow-through selling below the 0.6480 area, or the monthly low, will reaffirm the negative bias and allow the AUD/USD pair to aim back to challenge the YTD trough, around the 0.6445-0.6440 region touched in February. The downward trajectory could extend further towards the 0.6400 mark en route to the next relevant support near the 0.6355-0.6350 zone. Last week the ANZ-Roy Morgan Consumer Confidence Index recorded a slight decrease, reflecting Australians’ growing concerns about their financial situations and the national economy’s future. The ANZ-Roy Morgan Consumer Confidence Index fell by 0.9 points this week to 81.9, marking a record 62 consecutive weeks below the 85-point threshold. Despite the decline, the index remains 2.6 points higher than the same week last year and just one point below the 2024 weekly average of 82.9. The current economic environment has kept consumer confidence below 85pts for a record 62 weeks, 23 weeks longer than during the 1990s recession. Looking ahead this week and on Thursday all eyes will be on the Australian Bureau of Statistics Unemployment Rate decision, which is expected to see the jobless rate increase from the previous month from 3.7% to 3.9%. Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labour-market conditions. Key Movers The US Dollar Index (DXY) is trading above the 106.00 mark, attaining its highest level since early November. The Index's upward movement is largely driven by rising US yields and a hot inflation data environment that favours the US dollar. In addition, Federal Reserve (Fed) officials expressed fewer possibilities for rate cuts this year, and an increase in hawkish bets is another driver boosting the currency. Last week, inflation in the US, as measured by the change in the Consumer Price Index (CPI), rose to 3.5% on a yearly basis in March from 3.2% in February, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading came in above the market expectation of 3.4%. The annual core CPI, which excludes volatile food and energy prices, rose 3.8% in the same period, matching February's increase. On a monthly basis, the CPI and the core CPI both rose 0.4%, compared to analysts' estimate of 0.3%. Gold price finished the week with modest gains of 0.59% after reaching an all-time high during the North American session on Friday. Price action was volatile as geopolitical risks sparked a flight to safe-haven assets, driving the non-yielding metal toward $2,431, a new all-time high, before retreating on overall US dollar strength. At the time of writing, the XAU/USD exchanges hands at $2,343, down 1.18%. U.S. energy shares are soaring as investors benefit from rising oil prices and a stronger-than-expected economy, while seeking to protect their portfolios from a feared resurgence of inflation. The S&P 500 energy sector is up about 17% in 2024, roughly doubling the broader index's year-to-date return. Its gains have accelerated in recent weeks, making it the S&P 500's best performing sector in the past month. Expected RangesAUD/USD: 0.6350 - 0.6550 ▼AUD/EUR: 0.5950 - 0.6150 ▼GBP/AUD: 1.9100 - 1.9300 ▲AUD/NZD: 1.0750 - 1.0950 ▲AUD/CAD: 0.8800 - 0.9000 ▼

AUD bounces back amid rebound in iron ore price

Apr 11, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar outperformed other majors through trade on Thursday recouping losses suffered in the wake of Wednesday’s hotter than expected US CPI print. Improved risk sentiment following a softer US PPI print and moderated expectations for the Fed’s preferred inflation measure, the PCE deflator, helped lift the AUD back above US$0.65, marking intraday highs at US$0.6555, before settling near US$0.6540. Added support came from an extended recovery in iron ore prices, up 1.4% on the day and back above 108, but remains well below the January and year-to-date high. Our attentions turn now to China trade data, UK Monthly GDP numbers and US consumer sentiment as key markers guiding direction into the weekly close. Key Movers Price action has calmed following Wednesday’s hotter than anticipated US CPI print, allowing equities and risk assets to recover amid a retracement in treasury yields. US PPI data printed softer than expected, a relief after the hot CPI print, easing expectations for the Fed’s preferred inflation measure, the PCE deflator. With jobless claims falling last week, resilience across inflation and labour market metrics all but eliminates any hope of a June rate cut and we are now looking to August and September as the most likely timing for a first rate cut. In contrast the ECB, while leaving rates on hold, did little to assuage calls for a rate cut in June. The market is now pricing a full rate cut for June and two and half through the end of the year, almost a full cut more than what is currently priced for the Fed. The divergence in expectations forced the euro through 1.0750 and toward overnight lows at 1.0725. The yen is also soft despite the correction in yields and the USD has jumped above 153, a level not seen in 34 years. Ministry of Finance officials have issued a warning shot to markets threatening intervention and calling yen weakness “significant”. Further USD gains against the yen will likely be met with some trepidation. Our attentions turn now to UK GDP data, China trade and US consumer sentiment and inflation expectations for direction into the weekly close. Expected RangesAUD/USD: 0.6480 - 0.66 ▲AUD/EUR: 0.6020 - 0.6120 ▲GBP/AUD: 1.9100 - 1.9300 ▲AUD/NZD: 1.0850 - 1.0950 ▲AUD/CAD: 0.8900 - 0.9000 ▲

Forex Today: US Monthly CPI Unchanged, Triggers Hawkish Shift on Rate Cuts

Apr 10, 2024 | 23:28 pm

US CPI data released yesterday showed the annualized rate rising higher than expected to 3.5%.

US Inflation Higher Than Expected, Accelerates to 3.5%

Apr 10, 2024 | 09:37 am

US inflation for March rose 3.5% year-on-year. This was higher than expected and the US dollar is higher following the inflation release.

Forex Today: US CPI Expected to Show Slower Monthly Increase

Apr 9, 2024 | 23:43 pm

US CPI data will be released today, with the market expecting a slower pace of monthly increase.

Forex Today: Gold Makes New Record at $2,354

Apr 7, 2024 | 23:24 pm

Metals Rise Strongly to New Highs; USD/JPY Likely to Retest 34-Year High at ¥152; Crude Oil, Gasoline Futures Pull Back From Highs

Forex Today: Gold Beats $2,300

Apr 4, 2024 | 00:08 am

Spot Gold has continued to rise to new all-time high prices.

Forex Today: Gold Makes New Record at $2,288

Apr 2, 2024 | 22:27 pm

Precious Metals Rise Firmly to New Highs; Fed’s Daly Expects 3 Rate Cuts in 2024; USD/JPY Remains Close to 34-Year High Near ¥152; Crude Oil Breaks Higher; Eyes on Cocoa Futures After Spectacular Gains

German Inflation Eases to 3-Year Low

Apr 2, 2024 | 07:54 am

Germany’s CPI climbed 2.2% year-on-year in March, down from 2.7% in February and matching expectations. This is the lowest inflation rate since May 2021.

Forex Today: Yen Nears Record Low, Markets Await Possible BoJ Intervention

Apr 1, 2024 | 23:20 pm

USD/JPY Advances Close to 34-Year High Near ¥152; US Dollar Stronger on Firm US Manufacturing Data; Crude Oil Breaks Higher; Eyes on Cocoa Futures After Spectacular Gains

Forex Today: Gold Hits $2265 Per Ounce

Mar 31, 2024 | 23:13 pm

Gold Reaches Record High in Asian Session; USD/JPY Remains Below Record High Near ¥152; Strong Chinese Manufacturing Data; Eyes on Cocoa Futures After Spectacular Gains

United States GDP Expanded in Fourth Quarter by 3.4%

Mar 28, 2024 | 07:44 am

US GDP rises 3.4%, Canada GDP rebounds; US dollar steady, while stock markets show little movement following the announcement.

Forex Today: Fed’s Waller: No Rush to Cut Rates, Prospect of Hikes Remote

Mar 28, 2024 | 01:25 am

US Fed’s Waller Reiterates Ongoing Fed Message of Slow Path to Rate Cuts; USD/JPY Remains Below Record High Near ¥152; Cocoa Futures Make Another Record High Close; Gold Also Makes Record High Closing Price

Forex Today: Japanese Yen Hits 34-Year Low

Mar 27, 2024 | 00:13 am

USD/JPY Hits Record High Near ¥152, Japanese Officials Try to Talk Up Yen; Cocoa Futures Surpass $10,000 to Hit All-Time High; Aussie CPI Unchanged

Forex Today: Cocoa Futures Break $9,000 for Record High

Mar 26, 2024 | 00:38 am

Cocoa Futures Gain 8% in a Day; US Stocks, Gold Remain Bullish; Japanese Officials Try to Talk Up Yen; Bitcoin Rises Above $70k Despite Record Crypto Fund Outflows

United States Federal Reserve Holds Interest Rates, Remains Cautious

Mar 21, 2024 | 04:26 am

The Federal Reserve left interest rates unchanged for a fifth straight time at its meeting on March 20. The US dollar fell against the major currencies following the announcement.

Forex Today: Fed Says 3 Rate Cuts in 2024, Stocks, Gold Boom

Mar 21, 2024 | 00:07 am

Fed Gives Dovish Surprise by Forecasting 3 Cuts in 2024; Markets Await BoE, SNB; Gold, Stock Markets Reach Record Highs; Japanese Yen Regains Ground; Bitcoin Pares Losses; UK CPI Falls

Forex Today: Markets Await FOMC Meeting

Mar 20, 2024 | 00:06 am

FOMC Expected to Leave Rate at 5.50%; Japanese Yen Continues to Fall After BoJ; Bitcoin Weaker; Markets Await UK Inflation Data, New Zealand GDP

Forex Today: Bank of Japan Ends Negative Interest Rates

Mar 19, 2024 | 00:26 am

BoJ Makes First Rate Hike Since 2007, Japanese Stocks Rally, Yen Weakens; RBA Leaves Rates at 4.35%; Cocoa Futures Slightly Lower After Record High Yesterday; Bitcoin Weaker; Markets Await Canadian Inflation Data

Forex Today: Markets Expecting First BoJ Rate Hike in 17 Years

Mar 18, 2024 | 00:19 am

90% Expect BoJ to Ditch Negative Rates Policy Tuesday, Japanese Stocks Rallying; Bitcoin Rising After Another Record High Thursday; Cocoa Futures Roar Ahead With Dramatic Gains

Forex Today: Markets Await US PPI

Mar 14, 2024 | 00:24 am

US PPI Expected at 0.2%; Bitcoin Makes Another Record High Above $73,000; Cocoa Futures Roar Ahead.

Forex Today: US Inflation Ticks Higher to 3.2%

Mar 12, 2024 | 23:29 pm

US CPI Rises Unexpectedly; S&P 500 Makes Record High Close; Bitcoin Makes All-Time High Above $73,000

US Inflation Rises Unexpectedly to 3.2%

Mar 12, 2024 | 07:02 am

The US consumer price index (CPI) climbed 3.2% year-on-year in February, up from 3.1% in January and above the market estimate of 3.1%.

Forex Today: Markets Expecting Unchanged US Inflation Data

Mar 12, 2024 | 01:03 am

US CPI Seen at 3.1%; Bitcoin Hits New Record Below $73,000; Gold’s Bullish Momentum Starts to Pause

Forex Today: Gold, Bitcoin Looking Bullish Near Friday’s Record Highs

Mar 11, 2024 | 00:17 am

Gold, Bitcoin Advancing Again; Yen Higher on Japanese Rate Hike Bets and GDP Growth

ECB Maintains Interest Rates, Revises Lower Inflation Forecast

Mar 7, 2024 | 14:06 pm

The European Central Bank (ECB) maintained its deposit rate at a record high of 4.00% at today’s policy meeting. This decision was widely expected, and the Euro’s response has been muted.

Forex Today: Gold Makes New Record High Above $2161

Mar 6, 2024 | 23:41 pm

Gold Powers to New All-Time High; Powell Says Inflation Progress Not Assured; Japanese Rate Hike Seen Likely as Wages Rise; Bank of Canada Holds Rates; Markets Await ECB Meeting

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