August 16, 2023 9:20 am
The British Pound surged to a fresh one-month high against the Canadian Dollar on Wednesday after the most recent UK CPI inflation data added to the case for more interest rate hikes by the Bank of England. Annual headline consumer price inflation in the UK slowed to 6.8% in July, marking its lowest level since […]
Read moreAugust 16, 2023 7:16 am
The New Zealand Dollar firmed against the Euro on Wednesday after the Reserve Bank of New Zealand left its official cash rate without change at 5.5% during its August meeting and said it did not expect to begin rate cuts until the first half of 2025. The RBNZ held the OCR at the current level […]
Read moreAugust 15, 2023 7:55 am
The South African Rand extended losses against the US Dollar on Tuesday, as heightening concerns over China’s post-COVID recovery pressured the emerging market currency. Yesterday the Rand retreated to a fresh 10-week low against the greenback, as it was undermined by more woes in China’s property market. China is a key trading partner to South […]
Read moreAugust 14, 2023 7:56 am
AUD/JPY retreated for a second straight trading day on Monday, pulling back from a 1 1/2-week high, as concerns over China’s economic recovery heightened. Last week, China, Australia’s largest export market, reported disappointing trade and CPI inflation figures, mounting pressure on the risk-sensitive Australian currency. The Aussie dollar was also undermined by more woes in […]
Read moreAugust 11, 2023 9:42 am
The New Zealand Dollar retreated against its Canadian counterpart for a fourth straight trading day on Friday and was set for a 0.94% weekly loss, as market players were cautious ahead of the Reserve Bank of New Zealand’s policy meeting next week. The central bank is largely expected to leave the official cash rate without […]
Read moreAugust 11, 2023 7:42 am
The GBP/JPY currency pair traded in proximity to a fresh 92-month peak on Friday, after preliminary figures showed the British economy had expanded at a faster rate than anticipated in the second quarter. UK GDP grew 0.2% quarter-on-quarter in Q2, following a 0.1% increase in Q1 and exceeding market consensus of zero growth. Services sector […]
Read moreAugust 10, 2023 9:21 am
The South African Rand pulled back from a one-month low against the US Dollar on Thursday ahead of the key US CPI inflation report as well as South African mining and manufacturing data. Investor focus sets on the US July consumer inflation figures. Annual core CPI inflation is expected to slow to 4.7% from 4.8% […]
Read moreAugust 10, 2023 7:28 am
India’s Rupee was mostly steady near 23-week low against the US Dollar on Thursday, after the Reserve Bank of India kept its benchmark policy repo rate unchanged at 6.5% for a third meeting in a row in August, in line with market expectations. The RBI kept its policy stance of “withdrawal of accommodation” to ensure […]
Read moreAugust 9, 2023 7:38 am
The Australian Dollar registered a fresh one-week high against the Japanese Yen on Wednesday as risk sentiment showed signs of improvement despite another set of weak macro data coming out of China. The National Bureau of Statistics reported on Wednesday that Chinese consumer prices had decreased by 0.3% year-on-year in July, marking the first drop […]
Read moreAugust 8, 2023 9:40 am
Key points Aussie dollar weighed down by disappointing Chinese trade figures CAD traders now look to Canadian trade balance data for June The Australian Dollar lost ground against its Canadian counterpart on Tuesday, after the latest macro data out of China provided more evidence of a faltering economic recovery. Data by the General Administration of […]
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