USD/JPY has gained following the stronger than expected US retail data and neutral to hawkish comments by US Federal Reserve officials. The Dollar trades at 154.61, 0.22% above its opening price. US housing indicators, such as Building Permits and Housing Starts, have underperformed, suggesting a construction sector slowdown. However, US …
Read More »US bond yields continue to rise
US Treasury bond yields have continued to surge since the beginning of daily trading on Thursday, driven by the improvement shown by data that highlighted an improvement in the housing sector as well as in the labour market in the United States.Ten-year US Treasury bond yields rose to 4.140% compared …
Read More »Canadian dollar back to familiar levels amid focus on significant data
The Canadian dollar is trading at relatively stable levels, with broad-market flows leading the way in the latter part of the trading week. Although the Canadian currency has generally appreciated this week, it is still weaker than the US dollar, which has outperformed since Monday’s opening bids.Canada will see Retail …
Read More »CAD impacted as Canadian Trade Balance falls short
The Canadian dollar has experienced a significant decline, with the International Merchandise Trade and building permits falling more than anticipated. The recovery of the crude oil market is limiting the support of the Canadian currency. The Canadian dollar reached a new low for the week on Tuesday, with markets retreating …
Read More »Market Drivers – US Session, December 19
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 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 »Market Drivers – US Session, Nov. 16
The US Dollar Index rose marginally on Thursday, finishing around 104.40, despite weak economic data and the decline in US yields. Economic DataUS Continuing Jobless Claims reached the highest level since 2022, with Initial Claims rising to 231,000. Industrial Production declined by 0.6% in October, exceeding the expected contraction. The …
Read More »US dollar gains ground amid sour market mood, Fed’s Beige Book
Due to sour market sentiment and the Fed’s Beige report, which revealed no material changes in economic activity since the September report, the US Dollar gained ground on Wednesday. Although US housing starts from September disappointed, building permits performed better than anticipated. The US Dollar Index reached a high of …
Read More »Market Divers – US Session, August 29
The US Dollar Index dropped by the most since more than a month. Although the US Dollar fall is set to continue, the direction will depend heavily on incoming US data. On Wednesday, the ADP private employment report and another estimate of Q2 GDP growth will be released. Consumer inflation …
Read More »EUR/USD advances on US dollar’s weakness
Due to declining US Treasury bond yields and general weakness in the US dollar (USD), the EUR/USD ends a two-day losing streak and rises and falls towards the 1.0950 level. Thus, after reaching a low of 1.0920, the EUR/USD is currently trading at 1.0961.As US Treasury bond yields decreased, the …
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