Fundamental Analysis * Hawk Shock: The Australian dollar has dropped against the US dollar following the release of hawkish minutes from the Federal Open Market Committee (FOMC). The minutes indicated that the Federal Reserve might raise interest rates if inflation necessitates such action. The minutes stated that various participants mentioned willingness to …
Market Summary The US Dollar remained subdued as investors awaited the FOMC meeting minutes, with Federal Reserve officials emphasising the need for more evidence of easing inflation before considering rate cuts. This cautious stance has kept the dollar in check, influencing other markets as well. Gold prices stayed flat but slightly retreated …
Tuesday, 30th April 2024, 03:30 – Australia Retail Sales (MoM) (Mar) In February, retail sales in Australia saw a slight increase, fueled by heightened spending on clothing and dining out, likely spurred by popular Taylor Swift concerts drawing crowds. According to Australian Bureau of Statistics (ABS), Australia increased by 0.3 percent compared …
Fundamental Analysis * Flying Aussie: The AUD/USD pair rise for the second consecutive day, receiving an extra boost after the optimistic Australian jobs report. Notably, the Australian Employment Change exceeded even the most optimistic predictions, further supported by the weakening US Dollar following the FOMC meeting. In February, Australia’s unemployment rate decreased …
Market Summary In the lead-up to pivotal interest rate decisions by the Bank of Japan (BoJ) and the Reserve Bank of Australia (RBA), global financial markets are exhibiting signs of stability. The U.S. Dollar Index (DXY) is maintaining its position above the 103.50 threshold, bolstered by last week’s Producer Price Index (PPI) …
As the FOMC January meeting minutes loom, the Dollar Index (DXY) is losing steam, struggling to maintain its value above $104. As the Federal Open Market Committee (FOMC) January meeting minutes loom, the Dollar Index (DXY) is losing steam, struggling to maintain its value above $104. Conversely, gold prices are surging due …
The US Dollar undergoes a notable retreat driven by profit-taking activities following recent gains, fueled by optimistic economic data The US Dollar undergoes a notable retreat driven by profit-taking activities following recent gains, fueled by optimistic economic data suggesting a delay in Federal Reserve interest rate cuts. Despite the pullback, the dollar’s overall …
Wednesday, 21 Feb, 21:00 – FOMC Meeting Minutes In January, the Federal Reserve declared a steady policy rate of 5.25% – 5.5%, acknowledging the uncertain trajectory toward a rate cut in 2024. While many investors are hopeful for a shift from rate hikes to cuts by the Fed in the upcoming months, …
Nvidia’s quarterly report beat expectations; however, the company’s share prices dropped about 2% after the closing bell. In a much-anticipated earnings release, Nvidia’s quarterly report beat expectations; however, the company’s share prices dropped about 2% after the closing bell. This unexpected downturn interrupted the recent winning streak in U.S. equity markets, dampening …
The dollar remains subdued due to the Fed’s balanced assessment of inflation and recession risks. The dollar struggles below the $106 mark as the Federal Reserve adopts a dovish stance, signalling a potential end to its rate-hiking cycle. Despite a stronger-than-expected U.S. Producer Price Index (PPI), the dollar remains subdued due to …
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