GBP/USD grinds near weekly high as bulls and bears jostle ahead of the key data/events scheduled for publishing on Thursday. That said, the Cable pair makes rounds to 1.2450 during early Thursday morning in Europe amid the latest retreat in the US Dollar, mainly due to the cautious optimism and receding hawkish Fed bias. It’s worth noting that […]
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09
May
May
Stock Watch Airbnb (ABNB.US)
The largest lodging company that does not own a single property, we are talking about Airbnb (ABNB.US) has demonstrated its ability to scale the business effectively, achieving profitability for the first time in 2022 while simultaneously improving margins. In addition, ultra-low rates may be placed on your 2026 convertible notes, while competitors may be left looking for possible […]
08
May
May
(AUD) is one of the strongest G10 currencies today
The Australian dollar (AUD) is one of the strongest G10 currencies today, which has to do with several factors: Surplus in Australia As Bloomberg points out, the latest budget update, which will be released on Tuesday, will most likely show a surplus in fiscal 2022/2023, although subsequent years will most likely see a return to a deficit. […]
05
May
May
Technical Analysis USD/CAD
As is usually the case for the first Friday of a new month, traders will be offered jobs data from the United States and Canada. Both reports will be released at 1:30 pm BST today, meaning that USDCAD is likely to experience a jump in short-term volatility around that hour. Of course, the US report […]
05
May
May
Dollar retreats ahead of nonfarm payrolls
Most Asian currencies advanced on Friday, capitalizing on sustained weakness in the dollar as markets bet on a potential pause in the Federal Reserve’s rate hike cycle, with focus turning to key labor data due later in the day. The rate-sensitive South Korean won was the best performer for the day, rising 0.5% in an extension of […]
04
May
May
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Chart of The Day OIL.WTI
Oil prices, including Brent and WTI, dropped more than 5% after yesterday’s FED meeting regarding interest rates. Oil.WTI dropped below $69 – the lowest level since March 24, 2023. Prices fell from $71.5 per barrel to as low as $63.6 per barrel. However, prices have rebounded slightly from lows. Higher volatility was caused by rising concerns about […]
04
May
May
ECB Rate Decision in Todays Calendar
Wall Street declined sharply after yesterday’s FED interest rate hike. FOMC delivered a 25 basis point increase to 5.00-5.25% – the highest level since June 2006 peak. Although the Fed suggested it may slow down its rate hike cycle, Jerome Powell emphasized that interest rates may still increase if inflation persists. Currently, the markets have […]
04
May
May
Chile peso to hold stable as economic and political worries fade: Reuters poll
BUENOS AIRES (Reuters) – The Chilean peso is set for a period of stability as economic and political worries continue to fade, validating the central bank’s decision to unwind an intervention program implemented last year to calm market turmoil, a Reuters poll showed. In July last year, the peso plunged to a record low of […]
03
May
May
Asia FX creeps higher, dollar dips ahead of Fed rate hike
Most Asian currencies crept higher from recent losses on Wednesday, while the dollar relinquished some gains as markets hunkered down before a widely expected interest rate hike by the Federal Reserve later in the day. Market holidays in China and Japan kept regional trading volumes slim. Still, the Japanese yen rose 0.4%, recovering from a near two-month […]
02
May
May
The Day Ahead
Today’s economic calendar remains relatively light compared to significant events later this week. Starting from 8:00 BST, PMI indicators for the major economies in the European Union will start to be published. Later in the day, data on Durable Goods Orders from the US will be released, indicating the current condition of the US manufacturing […]