Forex

6 June 2024
Loonie sees mixed performance as central bank cuts interest rates for homeowners 

Key points:  Bank of Canada cuts interest rates for the first time in four years, signaling more to come.  Canadian dollar (CAD) experiences mixed performance against other currencies following rate cut.  Homeowners across Canada are breathing a sigh of relief …

5 June 2024
US dollar and Singapore dollar trading in consolidation ahead of US economic data release 

Key points:  USDSGD remains steady at 1.3462 during the Asian session.  ISM services PMI report tonight will provide insights into the US economy.  Technical support for USDSGD at 1.3400 and resistance at 1.3500.  The USD/SGD pair is consolidating during the …

4 June 2024
US inflation eases, reigniting interest rate cut hopes 

Key points:  PCE inflation rose 2.7% in April, easing fears of spiraling inflation.  US Dollar Index logged modest losses, reflecting a weaker greenback. This article is a follow-up to: PCE data to play integral role in Fed rate decisions  The …

3 June 2024
Hong Kong stocks surge on rate cut prospects; mixed performance in China

Key points: Hang Seng Index gains 2.32%, marking its best day since May 2. ECB expected to cut rates by 0.25%, influencing regional market sentiment. On Monday, Hong Kong’s stock market experienced an observable surge, with the benchmark Hang Seng …

3 June 2024
Dollar maintains strength as market watches inflation and Fed rate moves

Key points: The dollar index remained steady at 104.58 on Monday, reflecting a 1.56% decline in May but up 3% for the year. Emerging market currencies, particularly the Indian rupee and Mexican peso, showed strength following positive election results in …

3 June 2024
Week ahead: Wall Street sees declines as treasury yields rise

Wall Street endured a tough week, marked by significant declines driven by rising Treasury yields and hawkish comments from Federal Reserve officials. The market sentiment was further dampened by higher-than-expected inflation data from Germany and Australia, escalating global inflation concerns. …

31 May 2024
Japan to intervene in forex market as the Japanese yen hits 34-year low 

Key points:  Finance Minister of Japan Shunichi Suzuki emphasizes need for forex stability.  Suspected intervention of JPY 9 trillion (approximately USD 57.11 billion) to support the Japanese currency.  10-year Japanese government bond yield reaches 1.1%, highest since 2011.  This article …

31 May 2024
NZD rises against slow economic growth in the U.S. 

Key Points:  New Zealand dollar rises to $0.612 as economic growth in the US is slower than expected, indicating potential for rate cuts.  Investors await US PCE inflation data and the speech from RBNZ Governor Adrian Orr.  The New Zealand …

30 May 2024
Cable struggles below 1.0800 as key support levels loom

Key Points: EUR/USD falls below 1.0800: The currency pair dips under a significant threshold, influenced by a strong dollar and higher yields. Technical support in focus: Near-term support levels are crucial as the pair tests critical technical markers. The EUR/USD …

30 May 2024
Aussie, Kiwi steady after setback from U.S. bond yields surge

Key points: Aussie pinned at $0.6605: After retreating from $0.6667, the AUDUSD faces immediate support at $0.6592 and resistance at $0.6680. Kiwi eases to $0.6108: With resistance at $0.6170 and support around $0.6084, the NZDUSD reflects cautious trading. The Australian …

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