September 8, 2023 9:32 am
The South African Rand extended a pullback from recent three-month low against the US Dollar on Friday on prospects of the Federal Reserve keeping borrowing costs without change at its September policy meeting. Although the US Dollar was a notch softer against a basket of major peers on Friday, the currency was still on track […]
Read moreSeptember 7, 2023 7:27 am
India’s Rupee traded little changed against the US Dollar on Thursday, while disregarding a drop in China’s Yuan and other Asian currencies, with investors betting the nation’s central bank will keep intervening to defend the currency. The Reserve Bank of India has been frequently intervening in the non-deliverable forward market to ensure the Rupee does […]
Read moreSeptember 5, 2023 9:02 am
The South African Rand retreated against the US Dollar on Tuesday, as South Africa experienced the most severe power cuts on record. State utility Eskom reinstated the worst rolling blackouts on record, which resulted in up to 12 hours of power cuts for the majority of households per day. “With the increase in generation planned […]
Read moreSeptember 5, 2023 7:22 am
AUD/JPY lost ground sharply on Tuesday after the Reserve Bank of Australia left its cash rate without change at 4.1% at its September meeting, in line with expectations. The central bank extended the rate pause for a third consecutive month, while adding to market speculation its policy tightening cycle could be over. Policy makers noted […]
Read moreSeptember 4, 2023 9:40 am
USD/JPY was a notch firmer on Monday, being not far from last week’s 9 1/2-month high, with trading volumes likely to remain light due to the Labor Day federal holiday in the United States. As the major Forex pair continues to trade in the area around the psychological 145 level, market players are still on […]
Read moreSeptember 4, 2023 7:40 am
USD/CAD was little changed in thinned trading on Monday, as market players mulled the latest US employment data prints, which hinted at certain cooling. Those macroeconomic figures also added to expectations that the Federal Reserve may be nearing the end of its policy tightening cycle. Data showed on Friday that the US economy had added […]
Read moreSeptember 1, 2023 8:04 am
The British Pound steadied against the Canadian Dollar on Friday after a 0.56% slump the day before ahead of the release of UK manufacturing and Canadian GDP growth data. Yesterday the Sterling lost ground against major peers after Bank of England Chief Economist Huw Pill said policy makers would “see the job through” on bringing […]
Read moreAugust 31, 2023 7:23 am
The Euro weakened against the New Zealand Dollar on Thursday, after data showed French consumer price inflation had accelerated in August and German retail sales had unexpectedly dropped in July. France’s annual CPI inflation came in at 4.8% in August, picking up from 4.3% in July and also exceeding market consensus of 4.6%. The inflation […]
Read moreAugust 30, 2023 7:28 am
The Australian Dollar pared earlier losses against its Canadian counterpart on Wednesday, which came after data showed Australian inflation had slowed to a 17-month trough in July. Australia’s annual CPI inflation stood at 4.9% in July, easing from 5.4% in June. A consensus of analyst estimates had pointed to a lesser drop – to 5.2%. […]
Read moreAugust 29, 2023 9:32 am
The South African Rand advanced against the US Dollar on Tuesday in an attempt to extend last week’s 1.9% gain, as market players looked to South African PPI and trade balance reports along with international data in what appears to be a busy week. Statistics South Africa is due to release the official Producer Price […]
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