August 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 […]
Read moreAugust 29, 2023 7:36 am
India’s Rupee traded within a relatively narrow range against a softer US Dollar on Tuesday and as US Treasury yields dropped. The USD/INR pair continued to hover above recent three-week low of 82.3775, while dollar demand from corporate entities heightened. “The big corporates (who are importers) are quite active on the dips (on USD/INR), which, […]
Read moreAugust 28, 2023 7:14 am
The Australian Dollar got a lift on Monday after China announced a stamp duty cut on stock trades “to invigorate the capital market and boost investor confidence.” Additional boost came on the back of a softer US Dollar, which pulled back from a 12-week high, after Federal Reserve Chair Jerome Powell did not rule out […]
Read moreAugust 23, 2023 9:28 am
EUR/CAD extended losses on Wednesday, further pulling back from recent 1-week high, after Germany’s private sector activity shrank at the sharpest rate since the aftermath of the COVID-19 outbreak in May 2020. The HCOB Germany Composite Purchasing Managers’ Index plummeted to a reading of 44.7 in August, or much more than expected, from 48.5 in […]
Read moreAugust 23, 2023 7:59 am
GBP/CAD edged higher in calm trade on Wednesday, while being not far from recently registered 1-month high, ahead of the release of key macro data prints out of both the UK and Canada. The S&P Global/CIPS UK Services Purchasing Managers’ Index probably decreased to 51.0 in August from a final reading of 51.5 in July. […]
Read moreAugust 21, 2023 9:26 am
The South African Rand began the new week on the back foot against the US Dollar ahead of the BRICS summit and the South African CPI inflation numbers for July. South Africa will host the BRICS summit of emerging market economies from Tuesday to Thursday, with the bloc’s potential expansion being on the agenda. The […]
Read moreAugust 21, 2023 7:27 am
The Australian Dollar steadied against its US counterpart on Monday, being not far from last week’s 9 1/2-month low, as market players looked to the Federal Reserve’s Jackson Hole symposium for interest rate guidance. The Aussie dollar, a liquid proxy for the Chinese Yuan, was still under pressure after China’s move on benchmark lending rates […]
Read moreAugust 18, 2023 7:38 am
After closing at a record low level of 83.1475 per dollar on Thursday, India’s Rupee was slightly firmer on Friday as the US Dollar and US Treasury yields retreated from recent highs. India’s currency has faced considerable selling pressure in recent trading sessions, which prompted the Reserve Bank of India to step in, selling US […]
Read moreAugust 17, 2023 9:35 am
The Norwegian Krone bounced from a five-week trough against the US Dollar on Thursday, after Norges Bank raised its key policy rate by 25 basis points to 4% at its August meeting, in line with market expectations. With interest rates now being at their highest level since 2008, Norway’s central bank said it would likely […]
Read moreAugust 17, 2023 7:27 am
The Australian Dollar extended losses against its Canadian counterpart, hitting a fresh 42-week low on Thursday, after Australian jobs data for July confounded market expectations and brought forth speculation the Reserve Bank of Australia might have completed its policy tightening cycle. The Aussie dollar has also been pressured as a result of the sharp deterioration […]
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