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Market Comment – Yen stays on the backfoot despite BoJ rate hike speculation

Posted on March 18, 2024 at 10:28 am GMT

Wage data drives up bets of BoJ rate hike on Tuesday but yen not convinced Weaker yen boosts Nikkei but inflation worries weigh on Wall Street ahead of Fed Dollar steady in calm start to a very busy week but oil unsettled by geopolitics All eyes on BoJ decision as yen slips Intensifying speculation about a potential historic rate hike by the Bank of Japan is dominating the start of the week where the Federal Reserve, as well as central [..]

Market Comment – Dollar recovers, equities stall after US data releases

Posted on March 15, 2024 at 9:35 am GMT

Dollar stages comeback as US data fuels speculation of fewer Fed cuts Stocks and Bitcoin take a step back, oil climbs after Ukraine drone attacks Yen traders play the guessing game ahead of next week’s rate decision Dollar gets excited after US data The US dollar came back swinging this week, after a series of inflation surprises fueled speculation that the Fed will signal a slower pace of rate cuts when it meets next week. Retail sales disappointed yesterday, but [..]

Market Comment – US PPI and retail sales data enter the limelight

Posted on March 14, 2024 at 9:23 am GMT

After hot CPI inflation, dollar awaits PPI and retail sales data Yen on the back foot as BoJ March hike bets decrease S&P 500 and Nasdaq pull back, gold rebounds Dollar trades cautiously ahead of US data The US dollar traded lower against most of its major peers yesterday, gaining some ground only against the Swiss franc and staying virtually unchanged against the Japanese yen. Today, the greenback is trading slightly higher or unchanged. It seems that dollar traders have [..]

Market Comment – Stocks power to new records despite hot US inflation

Posted on March 13, 2024 at 9:49 am GMT

US inflation comes in hotter than expected, but markets brush it off Dollar unable to gain much, equities close at new all-time highs  Gold hit by profit taking, yen soft even as BoJ speculation heats up Inflation surprise doesn’t scare markets  A surprisingly hot US inflation report was not enough to frighten investors yesterday. Inflation as measured by the consumer price index clocked in at 3.2% in February, missing expectations that it would remain steady at 3.1%. It was a [..]

Market Comment – Investors lock gaze on US inflation data

Posted on March 12, 2024 at 9:22 am GMT

Dollar trades cautiously ahead of inflation numbers Yen pulls back on Ueda’s and Suzuki’s remarks Pound retreats but BoE still expected to cut rates after Fed S&P 500 and Nasdaq slide, Bitcoin hits new record high Dollar looks for direction in CPI data The US dollar traded higher against most of the other major currencies on Monday, but it is trading more cautiously today, recording noticeable gains only against the yen and the pound. It seems that trading is more [..]

Market Comment – Gold shines, dollar languishes after mixed US payrolls

Posted on March 11, 2024 at 9:35 am GMT

Dollar in limbo after mixed signals from US employment report   Japanese yen and British pound capitalize most on dollar’s troubles Gold hits another record, but high-flying stocks correct lower Dollar directionless after jobs data The US labor market continues to cool, keeping the Fed on track to slash interest rates in the summer. Nonfarm payrolls overcame forecasts in February, clocking in at 275k. However, the rest of the employment report was disappointing with big negative revisions to previous months, the [..]

Market Comment – Dollar gets smoked ahead of nonfarm payrolls

Posted on March 8, 2024 at 9:38 am GMT

Dollar falls sharply, will US employment data fuel this selloff?     Yen stages comeback, euro climbs as well after ECB decision  Gold and stocks hit new record highs as stunning rally continues Dollar braces for critical US jobs report An action-packed week in global markets will come to a crescendo today with the latest US employment report. Nonfarm payrolls are projected to have risen by 200k in February, less than the previous month but still a solid number overall. The unemployment [..]

Market Comment – Powell still sees rate cuts this year, ECB enters the spotlight

Posted on March 7, 2024 at 9:34 am GMT

Powell says it may be appropriate to lower rates this year Yen rallies as speculation about BoJ exiting negative rates intensifies BoC appears less dovish than expected, central bank torch goes to ECB Wall Street rebounds, gold hits a new record high Dollar slides as Powell adds to rate cut hopes The US dollar extended its decline against its major peers yesterday, with the commodity-linked currencies aussie, kiwi, and loonie gaining the most. The greenback remains in a sliding mode [..]

Market Comment – Gold hits new records ahead of Powell’s testimony

Posted on March 6, 2024 at 9:38 am GMT

Gold soars to new record highs as Fed chief prepares to testify Bitcoin also hits all-time peaks, but retreats alongside tech stocks Bank of Canada rate decision and UK budget on the menu too Gold shines, will Powell help?  Gold prices cruised to new record highs on Tuesday, extending a blistering rally that has seen the precious metal gain over 4% already this month. A round of disappointing US data releases lately has reignited hopes of interest rate cuts, pushing [..]

Market Comment – Dollar awaits ISM services PMI, China sets dubious targets

Posted on March 5, 2024 at 9:33 am GMT

ISM non-mfg. PMI awaited ahead of Powell’s testimony and NFP Yen slide pauses after accelerating Tokyo CPIs Aussie and kiwi slip as China announces ambitious growth target Equities retreat ahead of key events, gold and bitcoin rally Dollar rebounds ahead of key data and events The US dollar rebounded somewhat against most of its major peers on Monday, although the fact that it lost decent ground against the euro and the pound kept the dollar index (DXY) lower. Today, the [..]

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