In July, the flash estimate for HICP inflation showed an unexpected but marginal rise in headline inflation to 2.6% from 2.5% in June. This increase was contrary to expectations, as many economists predicted a decrease in inflation rates. Core inflation, however, held steady at 2.9%, which was surprising given forecasts for a drop to 2.7%.
Forex News
The NZD/USD pair has been trading on a stronger note around 0.5915 in Wednesday’s Asian session, up 0.17% on the day. This increase in strength can be attributed to the better-than-expected Chinese Manufacturing Purchasing Managers’ Index (PMI) data for July. The Chinese PMI for July came in at 49.4, beating expectations of 49.3, while the
The Australian Dollar (AUD) has experienced a significant decline of approximately 3.5% against the US Dollar (USD) since July 12. While the Australian economy has been creating more jobs per month than before the pandemic, the recent labor market data did not have the expected positive effect on the AUD. This should have supported the
The Job Openings and Labor Turnover Survey (JOLTS) data is a key indicator that is closely monitored by investors and policymakers to gain insights into the labor market dynamics. In the US, the Federal Reserve (Fed) closely watches this data to assess the need for monetary policy adjustments. Additionally, market participants analyze the JOLTS data
Many individuals are drawn to the world of investing, dreaming of making a fortune and securing their financial future. However, the reality of investing in open markets is far from glamorous. With risks and uncertainties lurking at every corner, it is essential for investors to proceed with caution and thorough research. Investing in open markets
The Australian dollar (AUD) has been experiencing a decline against the US dollar (USD) due to economic concerns over China and issues within the local economy. Despite future expectations of a rate hike by the Reserve Bank of Australia (RBA), the AUD/USD pair fell to 0.6545 on Monday. The RBA has been delaying rate cuts
The recent movement in the stock market has been quite volatile, with the S&P 500 index closing 1.11% higher on Friday. Although it closed below the daily high, indicating consolidation rather than a change in the short-term trend, there is hope for a reversal in the downtrend. This morning, the S&P 500 is likely to
The New Zealand Dollar (NZD) has been experiencing weakness, with analysts predicting a potential range of 0.5875/0.5920. The FX analysts at UOB Group, Quek Ser Leang and Peter Chia, have noted that the NZD is in severely oversold conditions, indicating limited downside potential. The key level to watch is 0.5850, according to their analysis. Following
The USD/JPY pair began the new week on a positive note, with some upside potential but limited. The positive risk tone seen in the market has dampened the demand for the safe-haven Japanese Yen, providing some support to the major currency pair. Traders are now eagerly awaiting the crucial policy decisions from the Bank of
The gold price (XAU/USD) has been facing significant selling pressure for the second consecutive day, resulting in a drop to a two-week low. This downward trend can be attributed to technical selling activities. However, the decline is expected to be limited due to certain supporting factors in the market. One such factor is the growing
With the Bank of Canada potentially lowering interest rates for the second time in the current cycle, market analysts are closely monitoring the situation. The seasonal adjusted monthly rates of change are in line with inflation targets, indicating a rate cut may be imminent. The market has already priced in this possibility, with the Bloomberg
The NZD/USD pair is currently facing downward pressure around 0.5945 in the early Asian trading session, with a 0.25% decline on the day. This decline can be attributed to rising expectations of rate cuts by the Reserve Bank of New Zealand (RBNZ) and concerns about sluggish Chinese economic activity. The recent softer Consumer Price Index
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