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Tag Archives: Forex

Bank of Japan (BOJ) open to act on excessive Japanese yen decline 

Key Points:  On Wednesday, Bank of Japan (BOJ) board member Seiji Adachi indicated that the central bank may take monetary policy action if excessive depreciation of the Japanese yen (JPY) persists and significantly impacts inflation expectations. Adachi emphasized the importance of adjusting the degree of monetary support in response to ongoing economic, price and financialContinue Reading


Copper prices rebound on optimism over Chinese demand 

Key points:  Copper prices climbed on Wednesday, driven by optimism over increased demand from China, being the top copper consumer in the world. Three-month copper on the London Metal Exchange (LME) rose 0.5% to $4.79 per pound, while the most-traded July copper contract on the Shanghai Futures Exchange (SHFE) gained 0.3% to $5.32 per pound. Continue Reading


US dollar edges lower against Singapore dollar ahead of economic data release 

Key points:  During the Asian trading session, the USDSGD pair edged lower, slipping 0.1% to 1.3472. This movement is likely a result of position adjustments by traders ahead of the release of key US economic data later today. The market is particularly focused on the US consumer confidence report by the Conference Board for May.  Continue Reading


Aussie rises as investors await inflation data 

Key points:  The Australian dollar (AUD) climbed past $0.665 on Monday, marking its third consecutive session of gains. Market participants are bracing for upcoming domestic inflation figures, which could significantly influence the interest rate outlook. The appreciation of AUD is also supported by a broad pullback in the US dollar (USD) and strong carry demandContinue Reading


China’s yuan dips as PBOC sets new midpoint

Key points: On Tuesday, China’s yuan slipped slightly as traders remained cautious ahead of key inflation data from major global economies. These reports could provide insights into the short-term trajectory of global interest rates. SEE: The offshore yuan (USDCNH) trading at 7.26184 as seen on the VT Markets app. PBOC weakens rate of yuan inContinue Reading


Rupee targets speculative flows after key resistance defeat

Key points The Indian rupee is expected to open steady on Tuesday, influenced by speculative and other flows after failing to breach a key resistance level in recent sessions. Non-deliverable forwards indicate that the rupee (USDINR) will open mostly flat from its previous close of 83.13. The currency approached the psychologically significant level of 83Continue Reading


Dollar strengthens ahead of news on global inflation

Key points: The dollar started the week on a firm note as traders awaited crucial inflation data from the U.S., Europe, and Japan. This data is expected to provide clarity on the future of global interest rates. In recent months, the search for yield has dominated foreign exchange markets, with low-interest currencies under pressure whileContinue Reading


More rate tightening from Turkish Central Bank is likely 

Key Points:  On Thursday, the Central Bank of Turkey (CBT) decided to keep its policy rate unchanged at 50%, consistent with market expectations. Such decision was made to address ongoing concerns about inflation, which continues to pose a significant risk to the Turkish economy.  In its policy statement, the CBT cited the lagged effects ofContinue Reading


Dollar rises as traders scale back US rate cut expectations

Key points: The dollar surged this week, marking its largest weekly rise in over a month. Surprisingly strong U.S. economic data has left markets on edge about the outlook for U.S. inflation and interest rates. In May, U.S. business activity accelerated to its highest level in just over two years. Manufacturers reported surging input prices,Continue Reading


Pound holds steady following election announcement, inflation data

Key points: The British pound held its ground on Thursday, remaining close to multi-month highs, a day after Prime Minister Rishi Sunak announced a national election and new data revealed that inflation in April slowed less than anticipated. Sterling holds steady despite persistent UK inflation concerns Sterling was steady against the dollar at $1.2722, slightlyContinue Reading