Forex

29 May 2024
Bank of Japan (BOJ) open to act on excessive Japanese yen decline 

Key Points:  Bank of Japan (BOJ) board member Seiji Adachi signals possible policy action if the Japanese yen falls excessively.  Underlying inflation continues to trend toward 2%.  BOJ to adjust monetary support based on economic, price and financial developments.  On …

29 May 2024
Copper prices rebound on optimism over Chinese demand 

Key points:  Copper prices increase on expectations of stronger demand from China.  LME copper rose 0.5% to $4.79 per pound while SHFE copper gained 0.3% to $5.32 per pound.  Recent US dollar stability and rising inventories in China limited the …

28 May 2024
US dollar edges lower against Singapore dollar ahead of economic data release 

Key points:  USD/SGD slips 0.1% to 1.3472 during the Asian session.  Market focus on the Conference Board’s consumer confidence data for May.  Technical support at 1.3400 and resistance at 1.3500.  During the Asian trading session, the USDSGD pair edged lower, …

28 May 2024
Aussie rises as investors await inflation data 

Key points:  Australian dollar appreciates past $0.665, marking a three-day winning streak.  Domestic inflation figures and cautious retail sales data influence interest rate outlook.  Market bets on the Reserve Bank of Australia maintaining high rates longer.  The Australian dollar (AUD) …

28 May 2024
China’s yuan dips as PBOC sets new midpoint

Key points: PBOC sets the midpoint rate at 7.1101 per U.S. dollar. Onshore yuan opened at 7.2425 per dollar, midday at 7.2461, weaker by 11 pips. On Tuesday, China’s yuan slipped slightly as traders remained cautious ahead of key inflation …

28 May 2024
Rupee targets speculative flows after key resistance defeat

Key points The Indian rupee opens little changed, with a focus on speculative flows. U.S. core PCE inflation data and Fed policy outlook remain crucial for global markets. The Indian rupee is expected to open steady on Tuesday, influenced by …

27 May 2024
Dollar strengthens ahead of news on global inflation

Key points: Dollar supported by interest rate expectations and mixed U.S. economic data. Euro and yen trading in tight ranges, awaiting key inflation readings. The dollar started the week on a firm note as traders awaited crucial inflation data from …

24 May 2024
More rate tightening from Turkish Central Bank is likely 

Key Points:  The Central Bank of Turkey (CBT) kept the policy rate at 50%, in line with expectations.  CBT maintains a tightening bias, indicating further hikes may be necessary if inflation persists.  Forex reserves have improved, leading to increased Turkish …

24 May 2024
Dollar rises as traders scale back US rate cut expectations

Key points: Dollar heads for its largest weekly rise in over a month. U.S. business activity hits a two-year high, influencing interest rate expectations. The dollar surged this week, marking its largest weekly rise in over a month. Surprisingly strong …

23 May 2024
Pound holds steady following election announcement, inflation data

Key points: The pound held at $1.2722, near a two-month high after inflation data and election announcement. British inflation rose by 2.3% annually in April, nearing the Bank of England’s target but slowing less than expected. The British pound held …

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