Dollar remains in defensive on growing expectations for dovish Fed’s policy view
The dollar index remains firmly in red in early Monday trading, and extends Friday’s 0.93% drop, to breach key support at 101.94 (Aug 5 low, the lowest in eight months).
The dollar was weaker across the board on renewed risk mode and…
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EURUSD- break above 1.10 adds to bullish outlook, limited dips should be anticipated
EURUSD keeps firm tone at the start of the week and extends gains above psychological 1.10 barrier after registering a weekly close above this level for the first time since late December.
Bulls also cleared a Fibo resistance at 1.1012…
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Gold hits new record high at $2500
Gold price surged on Friday and hit new record high at psychological $2500 level, benefiting from fresh turbulence in the markets after better than expected US data offset negative impact from much weaker than expected July NFP and…
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Cable rises above 1.2900 on solid economic data
Cable rose to the highest since July 25 on Friday, benefiting from improved risk sentiment after upbeat US data on Thursday (jobless claims / retail sales) and solid UK retail sales added to fading recession fears.
Sterling also…
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Upbeat US data lift USDJPY to two-week high
USDJPY jumped to two-week high on Thursday after better than expected US economic data (retail sales / jobless claims) reduced growth concerns and shifted expectations from 50 basis points Fed rate cut in September to initial 25 basis…
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UK economy grows in line with expectations in Q2
The latest data on the UK's economy reveals a steady recovery in the second quarter of 2024, with GDP growing by 0.6%, consistent with economists' predictions.
This growth builds on a stronger 0.7% rebound in the first quarter of the…
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China’s industrial production slows further, adding to recovery concerns
The latest economic data from China underscores the uneven nature of its recovery, as industrial production slowed for the third consecutive month in July, while the consumer sector showed signs of improvement. Industrial production grew by…
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US inflation rises moderately in July
US inflation rose moderately in July and the annual increase in inflation slowed to below 3% for the first time since early 2021, further strengthening expectations the Federal Reserve will cut interest rates next month.
The consumer…
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AUDUSD keeps firm tone ahead of US inflation data
AUDUSD remains constructive and consolidating Tuesday’s 0.80% advance, as this morning’s RBNZ rate cut by 25 basis points negatively impacted Aussie dollar, but dips were limited, due to strong near-term bullish sentiment on revived risk…
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Cable dips on softer than expected UK data; focus shifts on US inflation
Cable fell 0.35% in immediate reaction to softer than expected UK inflation numbers in July.
Although the BoE expected inflationary pressure to rise after CPI stayed at 2% target in past two months, weaker than expected July figure adds…
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