Tue, March 19, 2024

Forex

NZD/USD - New Zealand dollar bills.

NZD/USD Dips 0.53% Amid Fed Rates & China-NZ Trade

Quick Look NZD/USD declined today, trading around 0.6053, marking a 0.53% drop. The US Dollar Index (DXY) surged to two-week highs, surpassing the 103.80 mark. Market sentiments suggest a 73% probability of a rate cut by the Federal Reserve in July. China and New Zealand are enhancing their free trade agreement. Anticipation builds around the …

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The Greenback: A pile of Canadian dollar bills.

Canadian Dollar Edges Up to 1.3545; WTI Crude Drops to $82.10

Quick Look: US Dollar to Canadian Dollar sees a slight increase, closing at 1.3545 with current consolidation around 1.3540. WTI Crude Oil experiences a decline from $84.48 to the latest price of $82.10 per barrel. Anticipation builds around major policy meetings, including the Federal Open Market Committee and the Bank of Japan.  The trading session involving …

Canadian Dollar Edges Up to 1.3545; WTI Crude Drops to $82.10 Read More »

Wibest EUR/USD – Euro: Close up shot of US dollar bills.

EUR/USD Dips to 1.0872 Amid Economic Shifts

Quick Look: The recent downtrend in EUR/USD – 1.0980, with current activity around 1.0885. Resistance and support levels identified are crucial for the next movements. Possible rate cut in June hinted by ECB’s policymakers; Economic events like the Fed Rate decision and Eurozone inflation could heavily influence future trends. The EUR/USD pair is a critical gauge …

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China Yuan Gains while the U.S. Dollar Continues Downfall

People’s Bank of China Sets USD/CNY at 7.0975

Quick Look PBoC sets the USD/CNY reference rate at 7.0975, defying the estimate of 7.2058. 1-Year MLF rate and 7-day RR maintained in China, signalling steady monetary policy. Net liquidity injection of 3 billion yuan amidst ongoing market regulation efforts. Post-” “quant quake” scrutiny increases, with significant adjustments in key quant funds. CSRC underscores fairness, …

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Wibest – CHF Franc: New Swiss franc notes.

Swiss Franc Dynamics: USD/CHF Eyes Bullish Reversal

Quick Look USD/CHF trades between support at 0.8670 and resistance at 0.8810, hinting at a bullish reversal. Swiss CPI aligns with forecasts; SNB holds rates at 1.75%. US economic data shows mixed signals; however, USD dominance persists in the market. EUR/CHF sees gains, with potential for further rise as long as support at 0.9510 holds. …

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Dollar and the short-end U.S. yields surge - DXY

DXY Dips to 102.868: Inflation & Fed’s Future Moves

Quick Look The DXY Index recorded a minor decrease to 102.868, reflecting a -0.06% change. February’s CPI data aligns with expectations, showing a 0.4% increase month-on-month. Core inflation rates exceed forecasts, signalling stronger inflationary pressures. Federal Reserve’s potential rate cut in June sees a slight dip in probability, influencing Treasury yields. Technical indicators suggest a …

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Wibest – NZD/USD: One hundred New Zealand dollar bills.

NZD/USD Stalls: Impact of 0.8% US Sales Rise & Fed’s Move

Quick Look NZD/USD remains nearly unchanged, oscillating within a narrow band near two-week highs. US inflation data and Federal Reserve rate cut speculations influence market sentiment. Technical indicators suggest a bullish outlook for NZD/USD, with key resistance and support levels identified. Upcoming US retail sales data and Fed’s policy meeting to play critical roles in …

NZD/USD Stalls: Impact of 0.8% US Sales Rise & Fed’s Move Read More »

Wibest – Canadian Loonie: Canadian dollar bills.

USD/CAD Edges Up to 1.3484 Amid Economic Shifts

Quick Look USD/CAD closed at 1.3484, slightly above its opening price, amidst a fluctuating oil market. WTI oil was priced at $78.51, and gold stood at $2176.72, reflecting commodity market movements. The US inflation report showed an unexpected rise, with February’s CPI at 3.2% YoY. The USD/CAD faces pressure due to trade status changes and …

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Japanese Yen rallied against U.S. Dollar

USD/JPY Plunges to 146.50: Economic Shifts in Focus

Quick Look USD/JPY fell from 150.50 to 146.50, marking a significant drop. Soft U.S. economic data fuels speculation on Fed rate cuts. BoJ’s upcoming meeting could tighten monetary policy. The historical average suggests a possible reversion for USD/JPY. Market sentiment shows a bearish outlook, with 67% of traders short on USD/JPY. Last week, the USD/JPY …

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Wibest – GBP/USD: British pound sterling coins over US dollar bills.

GBP/USD Slips 0.39% Amid Mixed Global Economic Cues

Quick Look GBP/USD current trading session sees a decline of 0.39%, standing at 1.2807. The pound had previously achieved six consecutive wins, with a 1.56% rise last week. Upcoming UK employment data and the BoE rate decision are in focus. US employment figures surpass expectations, but wage growth slows down. BoE’s interest rate cut expectations …

GBP/USD Slips 0.39% Amid Mixed Global Economic Cues Read More »

AUD/USD - The Greenback: US dollar and Australian dollar banknotes.

2024 AUD/USD: Rebounds Above 0.6800 Amid Trade Strength

Quick Look AUD/USD is currently above 0.6800, showcasing a strong position. Powell’s testimony hinted at potential interest rate cuts that could bolster the AUD/USD pair. Trade data indicates robust exports, contributing to the boost in the Australian dollar. High gold prices support the currency’s appreciation. Technical analysis suggests a cautious outlook with the potential for …

2024 AUD/USD: Rebounds Above 0.6800 Amid Trade Strength Read More »

NZD/USD - New Zealand dollar bills.

NZD/USD: 0.6172 Downtrend Amid Economic Signals

Quick Look The NZD/USD is experiencing a slight downtrend, trading near 0.6172 and down by 0.03%. Resistance under 0.6200 is evident as the key barrier remains unbroken. The pair is impacted by mixed influences, including US labour data, Powell’s dovish comments, and China’s CPI. Anticipation is building for upcoming US CPI and Retail Sales data. …

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Dollar and the short-end U.S. yields surge - DXY

Tokyo CPI & Global Events Shift US Dollar Dynamics

Quick Look Tokyo CPI may prompt BOJ policy shifts, impacting USD/JPY. ISM Services PMI rise challenges Fed rate cut expectations, affecting the U.S. dollar. The U.S. Dollar Index’s uncertain path hinges on Powell’s testimony and economic indicators. Slower U.S. wage growth and service industry expansion signal a cooling labour market. Bitcoin’s surge and fiscal policies …

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