October 30, 2023 9:29 am
Germany’s economy has contracted at a quarterly pace of 0.1% in the third quarter of the year, a preliminary figure showed on Monday, while reversing from a revised up 0.1% expansion in Q2. A consensus of analyst estimates had pointed to a 0.3% GDP contraction. In the latest quarterly period, downward pressure on GDP came […]
Read moreOctober 30, 2023 8:13 am
The AUD/JPY currency pair firmed at the start of a busy central bank and data-laden week, as upbeat Australian retail sales data reinforced the case for a RBA interest rate hike in November. Yet, global risk sentiment remained fragile, while limiting the Aussie dollar upside, with the geopolitical backdrop in the Middle East a dominant […]
Read moreOctober 27, 2023 7:49 am
The USD/CAD currency pair was on track to register its best weekly performance since mid-August, as robust US macro data solidified the case for higher-for-longer interest rates. The US economy grew at an annualized rate of 4.9% in the third quarter, or the most since Q4 of 2021, a preliminary estimate showed on Thursday. Market […]
Read moreOctober 26, 2023 7:17 am
EUR/CAD held mostly steady on Thursday, not far from recent six-week high, as market focus now sets on the ECB’s policy decision later in the day. The European Central Bank is largely expected to keep its main refinancing operations rate intact at a 22-year high of 4.5% on Thursday, following 10 consecutive rate hikes since […]
Read moreOctober 25, 2023 9:11 am
The AUD/CAD currency pair scaled a fresh seven-week peak on Wednesday on the back of a surprisingly strong Australian CPI inflation print and ahead of a policy decision by the Bank of Canada later in the day. Australia’s consumer prices surged 1.2% quarter-on-quarter in Q3, picking up from a 0.8% gain in the second quarter […]
Read moreOctober 24, 2023 8:38 am
Private sector activity in the Euro Area registered a fifth consecutive month of contraction in October and also the steepest decline since November 2020, as both the manufacturing and services sectors continued to shrink. Euro Area’s Composite Purchasing Managers’ Index (PMI) was reported at a preliminary 46.5 in October, falling from a final reading of […]
Read moreOctober 24, 2023 7:41 am
The GBP/JPY currency pair registered a fresh two-week high on Tuesday, after data showed UK’s adjusted experimental unemployment rate had risen in the three months leading up to August, while Japan’s factory activity had contracted for a fifth successive month in October. Provisional data by the Office for National Statistics showed UK’s adjusted unemployment rate […]
Read moreOctober 23, 2023 10:04 am
The South African Rand weakened against the US Dollar at the start of the week, with geopolitical tensions being a major driver. Investor concerns that the Israel-Hamas conflict could spread to other territories was supporting demand for safe haven assets and was weighing on risk-sensitive currencies such as the Rand. “This means that the rand […]
Read moreOctober 23, 2023 8:10 am
The USD/SGD currency pair was mostly steady on Monday, while holding not far from recent two-week peak, as risks of a wider conflict in the Middle East weighed on the Singaporean Dollar and other Asian currencies. Media reports emerged that Israel had launched air strikes on Gaza early on Monday and clashed with the Iran-backed […]
Read moreOctober 20, 2023 7:16 am
The GBP/CAD currency pair edged lower on Friday, pulling back from a one-week high, after data showed UK retail sales had decreased at a steeper rate than expected in September. Retail sales in the country shrank 0.9% month-over-month, compared with market expectations of a 0.2% decrease, following a 0.4% growth in August. Sales at non-food […]
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