AUD/JPY gains positive traction amid the emergence of heavy JPY selling on Friday. The intraday momentum stalls near the top end of a one-week-old descending channel. A sustained strength beyond the said barrier should pave the way for additional gains. The AUD/JPY cross builds on the previous day’s late bounce from the 95.35-95.30 area, or … Read more
The Indian Rupee gathers strength in Friday’s Asian session. Significant US Dollar sales and easing concerns on trade tensions underpin the INR. The preliminary Indian and US PMI reports for February will be the highlights later on Friday. The Indian Rupee (INR) gains ground on Friday after reaching a one-week high in the previous session. … Read more
USD/CAD remains steady as the US Dollar faces challenges due to improved market sentiment. US Initial Jobless Claims increased to 219,000 in the previous week, surpassing the expected 215,000. The Bank of Canada may rethink to cut rates amid elevated inflation in Canada. USD/CAD moves little after registering losses in the previous session, trading around … Read more
The Australian Dollar declines as the US Dollar experiences a technical upward correction. Australia’s Judo Bank Manufacturing PMI increased to 50.6 in February, up from 50.2 in January. RBA’s Bullock warned that an overly rapid or excessive monetary policy easing could hinder the disinflation process. The Australian Dollar (AUD) edges lower against the US Dollar … Read more
Japan’s Finance Minister, Katsunobu Kato, said early Friday that higher long-term rates can pressure Japan’s fiscal situation. Key quotes Sees higher Japanese government bond yields will increase debt-servicing costs. Warns higher debt-servicing costs may impact Japan’s finances. Will continue to aim for stable sales of Japanese government bonds. Market reaction At the press time, the USD/JPY pair is … Read more
Dow Jones drops over 1.40% to 43,980 as investor sentiment weakens. The US Dollar Index retreats below 106.90 after Trump hints at a potential trade deal with China. US Initial Jobless Claims miss estimates, raising concerns about labor market resilience. St. Louis Fed warns of inflation risks, while Atlanta Fed’s Bostic sees room for two … Read more