The Japanese Yen suffered a significant decline on Tuesday as a result of the Bank of Japan’s dovish stance. Governor Kazuo Ueda noted the challenge of articulating a plan to leave the negative interest rate policy, but the BoJ did not specify a timeline for liftoff. The USD/JPY pair first …
Read More »AUD/USD endures losses on strong US labour market, surging T-yields
The Australian dollar (AUD) experienced a dip in its Friday trading session, trading lower at approximately 0.6580. The downward movement is attributed to robust American labor market data and escalating US yields, which drove demand to the US dollar. The US Bureau of Labor Statistics data showed an increase in …
Read More »AUD/USD declines following higher than expected US GDP reading in Q3
As of writing, the AUD/USD pair has decreased by 0.50% and is currently trading at 0.6614. With a reported growth rate of 5.2% in Q3, the US economy grew at its fastest rate in almost two years, exceeding the 5% forecast. Along with employment data, traders of the AUD/USD pair …
Read More »US Dollar Back to Green Territory on Government Shutdown News
The US dollar is mildly in green territory, with traders focusing on Tuesday and Wednesday as pivotal points this week. The Dollar Index is expected to make no significant moves with a light Monday calendar. The AUD/USD and the USD/SEK pairs are outliers gaining against the US dollar. Markets experience …
Read More »AUD/USD ends week lower, pressured by RBA’s stance, Powell’s hawkishness
The Australian Dollar (AUD) has experienced a significant drop in value, with the AUD/USD pair dropping 0.12% for the day and extending its losses throughout the week. The RBA’s 25 bps rate hike under new Governor Michele Bullock’s leadership failed to provide a bullish impetus for the Aussie, and Fed …
Read More »AUD/USD stops falling ahead of Powell’s speech
Tuesday saw a 1.5% decline in the value of the Australian dollar (AUD/USD), hitting 0.6404 as a result of the Reserve Bank of Australia’s dovish statement and announcement of an anticipated 25 basis point rate hike. The Australian dollar bounced back to start trading on Wednesday at 0.6440.The Reserve Bank …
Read More »Market Drivers – US Session, Nov. 2
The US Dollar lost ground on Thursday due to economic data from the US, which showed Initial Jobless Claims rose to the highest level in seven weeks and Continuing Claims reached the highest since April. The US official employment report is expected to show an increase of 180,000 jobs, with …
Read More »AUD/USD receives some support on positive Australian data
The AUD/USD pair is trading near 0.6375 as investors prepare for a mid-week Fed rate decision. The AUD has gained strength due to positive Australian data, such as Australian Retail Sales exceeding forecasts. September’s retail sales showed a 0.9% increase, significantly higher than the 0.3% estimate. US investors are anxiously …
Read More »AUD consolidates post-intraday gains
The Australian Dollar (AUD) started the week by recovering from a three-day losing streak, showing strength against the US Dollar. This positive movement followed a period of challenges, possibly influenced by shifting discussions regarding the trajectory of the US Federal Reserve’s (Fed) monetary policy. Investors are closely watching the Reserve …
Read More »Market Drivers – US Session, September 26
The US Dollar Index has continued its rally for the third consecutive day, with the index posting its highest daily close since November of the previous year. Despite negative sentiment, US Treasury yields remained around 4.54%, while the Dow Jones and Nasdaq declined by 1.15% and 1.54%, respectively. Economic data …
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