The AUD/USD pair is currently trading at its year-low due to positive economic developments and hot Core PCE inflation from the US. However, the Australian Retail Sales from April data indicated no variation in sales levels compared to the previous period. This lackluster performance reflects the challenges faced by consumers …

US data pointed to a resilient economy while progress on US debt ceiling talks remained elusive, helping Treasury yields higher and the US Dollar to score its highest level in over two months. Traders were wary of a possible default in early June while US President Joe Biden and top …

Gold price has retreated to $1,940.00, during Thursday’s US session after US GDP revised up to 1.3% in the first quarter of 2023, while Jobless Claims come in below expectations.Core PCE inflation rises by 5% in Q1, the strong US data was dragging gold to its lowest level since March …

The EUR/USD pair hits a two-month low amid US debt-ceiling concerns as well as positive US economic data though Fitch places US “AAA” debt rating on negative watch despite lower unemployment claims and a rise in Q1 GDP. Germany’s Q1 GDP plunge puts additional pressure on the Euro, with central …

The USD/CAD pair surged past the 1.3600 mark amidst rising US bond yields and US political uncertainty. The US economy displayed recovery signs with lower-than-expected jobless claims and an upwardly revised Q1 GDP, while the Fed hints at a pause in rate hikes. On the Canadian front, Manufacturing Sales declined …

ECB policymaker Klaas Knot said that the ECB needs to raise the policy rate at least two more times. Knot further argued that rates should stay put for a significant period of time following these increases.“Headline inflation peak behind us but not sure if at peak of underlying inflation”, Knot …

This week, senior American trade officials will meet with China’s Minister of Commerce Wang Wentao in the US. The meetings will be another attempt by the two largest economies in the world to warm chilly bilateral relations. Beijing said on Thursday that Wang Wentao plans to use his trip to …

Canadian shares hit a near-two month low on Thursday, as the losses in the country’s top lenders overshadowed the gains in tech stocks. The Toronto Stock Exchange’s S&P/TSX composite index was down 99.28 points, or 0.5%, at 19,828.41. Royal Bank of Canada slid 2.0% on a quarterly earnings decline, while …

Oil price declines as traders take profit. The US dollar continues rallying after US macroeconomic data reinforces an optimistic view of the economy. Oil, however, is supported by EIA inventory data, showing a steep drawdown in the prior week, reflecting rising demand.The comments by the Saudi Oil Minister warning short-sellers …

Traders and investors are digesting the latest economic data and the FOMC minutes while awaiting news regarding the US debt-ceiling fight. No major reports are due in the Asian session. Later in the day, Germany and the US will release new estimates for Q1 GDP. The weekly Jobless Claims report …