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 »US Dollar reacts to Powell’s hawkish remarks, technical outlook uncertain
Traders were taken by surprise as Federal Reserve Chairman Jerome Powell delivered unexpectedly hawkish remarks, causing the US Dollar (USD) to initially surge, but subsequently ease during European trading on Friday. Powell’s comments deviated from market expectations of upcoming rate cuts, creating a contrasting picture to earlier dovish statements made …
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 »Dollar rose and AUD declined after the Australian Central Bank’s interest rate decision
The dollar rose today, Tuesday, with the decline in demand witnessed last week for currencies that involve more risks than others, while the Australian dollar fell after the Reserve Bank of Australia raised interest rates, but modified its outlook, which strengthened expectations that the cycle of raising interest rates has …
Read More »US dollar retreats on tightening bets, downturn concerns
The dollar fell to an almost eight-week low against the euro on Monday on growing confidence that the Federal Reserve is done hiking interest rates, while comments from multiple U.S. central bank officials this week will be watched for further signals on rate policy.Fed Chairman Jerome Powell is due to …
Read More »EUR and GBP are heading for weekly gains
The euro and pound are headed for weekly gains against the dollar on Friday, as appetite for global bonds led by the United States pushed yields down, as did the dollar, providing relief even to the faltering Japanese yen. However, the always important US non-farm payrolls data scheduled for 1230 …
Read More »US Dollar declines ahead of October’s NFP
The Dollar Index fell for the day to 106.15, a decrease of 0.50%. In line with the current risk-on trend, US government bond yields are also falling while Wall Street indexes are rising.Market participants are now concentrating on Friday’s Nonfarm Payrolls report for October. Following Wednesday’s decision and Chair Powell’s …
Read More »Powell: Fed close to the end of tightening cycle
Federal Reserve Chairman Jerome Powell holds a news conference to explain why they have decided to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% meeting and responds to questions.Key Quotes“‘Dot plot is a picture in time of appropriate policy in light of policymakers’ personal views.”“Efficacy …
Read More »Gas prices rise in Europe on declining imports from Egypt, Norway’s outages
Gas prices rose in the Netherlands and Britain on Monday morning, October 30, driven by news that Egyptian gas imports would stop, which will consequently affect its exports of liquefied natural gas. Cold weather and unscheduled outages in Norway also supported prices. The Dutch November benchmark natural gas contract rose …
Read More »US stocks fall following Powell’s speech
US stocks fell on Thursday as Wall Street parsed comments from Federal Reserve Chair Jerome Powell while monitoring a key milestone for a closely followed bond yield. The S&P 500 slipped 0.2%, while the Nasdaq Composite shed 0.3%. The Dow Jones Industrial Average lost 21 points, or 0.1%. Powell said …
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