The GBP/USD rose early in the US session but fell as the market was broadly pulled back towards the US dollar. The UK faces high recession risk, with Pound Sterling bids capped. The GBP/USD sank just south of the 1.2200 handle, struggling under a bearish trend. The Bank of England …
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September, 2023
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29 September 2023 9:49 pm
Canadian dollar tumbles on oil price, GDP missing estimates
The decline in crude oil prices on Friday has sent the Canadian dollar back to recent lows. Market forecasts for the Canadian GDP missed, and economic growth is seen as flat. As the Canadian dollar declines and the US dollar rises, the USD/CANADIAN DOLLAR crosses a new weekly high.On Friday, …
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29 September 2023 8:45 pm
US Dollar attempts to maintain momentum, eleventh weekly gains
The US Dollar is attempting to maintain its winning streak since the summer, with the index set to print its 11th consecutive weekly gain. However, headwinds are building up, including the ongoing UAW strike, the US government shutdown, and GDP miss. The US Dollar Index is standing at 106.130 at …
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29 September 2023 7:43 pm
Latest PCE reading is positive signal for the Fed
The cost of living in the US is increasing. Last month’s overall inflation was heated up by higher gasoline prices, but the Fed received some good news: its preferred inflation indicator dropped to its lowest level in two years. For the 12 months ending in August, the core Personal Consumption …
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29 September 2023 4:28 pm
Gold has some sparkle, but it is still headed for a quarterly decline
Gold prices rose on Friday as the rise of the dollar and US Treasury bond yields halted, but it is on track to record a monthly and quarterly decline under pressure from growing expectations that the US Central Bank will keep interest rates high for a longer period. Spot gold …
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29 September 2023 2:11 pm
Dollar pulls back from 10-month peak, providing support to yen
The dollar retreated from a 10-month high against a basket of currencies on Friday on the last trading day of the third quarter of the year, giving the yen a chance to breathe amid fears of Japanese government intervention in the exchange market. The euro continued its recovery, moving away …
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29 September 2023 12:50 pm
Oil is heading for a 2% weekly gain, supported by demand during the Chinese holiday
Oil prices are heading to record a weekly gain of about two percent after achieving some increase on Friday, as the impact of strong demand during a holiday in China and continued scarcity in the United States overshadowed expectations of possible increases in supplies from Saudi Arabia. Brent crude futures …
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29 September 2023 11:55 am
The Nikkei index records its worst quarterly performance in a year
The Japanese Nikkei index ended the last trading session of a turbulent week with a slight decline on Friday, and oscillated between rise and fall during the session, thus recording the worst quarterly performance since mid-2022. The selling of shipping company shares after the right to distribute cash dividends expired, …
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29 September 2023 11:02 am
Japan’s unemployment rate stabilizes at 2.7% in August
Government data showed on Friday that Japan’s unemployment rate held steady at 2.7 percent in August compared with the previous month. The seasonally adjusted unemployment rate compares with the average forecast of 2.6 percent by economists in a Reuters poll.
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29 September 2023 2:06 am
Market Drivers – US Session, September 28
During the Asian session, Japan will release critical economic reports, including the September Tokyo Consumer Price Index, August Unemployment Rate, Industrial Production, Retail Sales, and Housing Starts. Australia will release Private Sector Credit data, while Germany will release Retail Sales and the Unemployment Rate. The Eurozone CPI will be the …
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29 September 2023 1:57 am
GBP/USD made a modest comeback
On Thursday, the GBP/USD made a modest comeback, recovering to the 1.2200 mark. Analysts expect the GBP to depreciate longer term, with many institutions anticipating a reversal to the main handle of 1.2000.The UK GDP results, which are scheduled to be released on Friday, are anticipated to remain constant at …
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29 September 2023 1:08 am
EUR/USD advances ahead of EU CPI, US PCE inflation
On Thursday, the EUR/USD pair surged as the Dollar Index decreased. As rate rise cycles come to an end, analysts anticipate greater Euro depreciation. With important US and EU inflation numbers on Friday, the trading week will come to an end.On Thursday, the EUR/USD reached an intraday high of 1.0580 …
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28 September 2023 11:57 pm
CAD expects USD to decline even further
The US currency, which has little velocity, and the price of crude oil are closely tracked by the Canadian dollar. The USD/CAD pair is essentially flat for the day on Thursday, falling 0.2% at its low point, and it appears that consolidation is imminent near 1.3500. The final figures for …
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