The British pound has extended its gains on Thursday. In the European session, GBP/USD is trading at 1.3282, up 0.53% on the day.
19-09-2024 05:51 GMT
by Kenneth Fisher
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The New Zealand dollar has posted gains on Wednesday. NZD/USD is trading at 0.6211 at the time of writing, up 0.44% on the day.
Fed set to cut rates
Federal Reserve meetings are traditionally predictable affairs and don’t move the needle of the financial markets.
18-09-2024 13:38 GMT
by Kenneth Fisher
The euro is calm on Wednesday. EUR/USD is trading at 1.1125 in the North American session at the time of writing, up 0.11% today.
Fed poised to lower rates
The Federal Reserve meets later today and it’s looking like a coin toss as to whether the Fed will lower rates by 25 or 50 basis points.
18-09-2024 12:49 GMT
by Kenneth Fisher
The British pound has gained ground on Wednesday. In the European session, GBP/USD is trading at 1.3224, up 0.48% on the day.
UK core inflation surprises to the upside
First, the good news.
18-09-2024 06:47 GMT
by Kenneth Fisher
The Japanese yen is down sharply on Tuesday. USD/JPY is up 0.73% today, trading at 141.64 in the North American session at the time of writing.
17-09-2024 10:31 GMT
by Kenneth Fisher
The Canadian dollar is showing limited movement on Tuesday. Early in the North American session, USD/CAD is trading at 1.3601 at the time of writing, up 0.10% today.
Canada’s CPI declines more than expected
Canada’s inflation rate dropped to 2% in August.
17-09-2024 09:41 GMT
by Kenneth Fisher
The euro has posted strong gains on Monday. EUR/USD is trading at 1.1126 in the North American session at the time of writing, up 0.49% today.
16-09-2024 11:23 GMT
by Kenneth Fisher
The New Zealand dollar has started the new trading week with strong gains. NZD/USD is up 0.55% today, trading at 0.6191 in the European session at the time of writing.
NZ Services PMI improves
New Zealand’s services sector hasn’t shown growth in sixth months but there was a bit of positive news today as the services PMI improved to 45.5 in August, up from an upwardly revised 45.2 in July.
16-09-2024 07:03 GMT
by Kenneth Fisher
Federal Reserve's Upcoming Decision: Markets are split on whether the Fed will cut rates by 25 or 50 bps.
Key data releases from China, Japan, the UK, and the US will shape market sentiment and potentially set the tone for Q4 2024.
The DXY is nearing a critical support level, and its direction could determine the US Dollar's trajectory ahead of the US election.
Read More: Germany 30 Technical: A potential bearish reversal looms
Week in Review: Market Participants Left with More Questions
As t
13-09-2024 14:06 GMT
by Zain Vawda
The New Zealand dollar is slightly lower on Friday after sharp gains a day earlier. NZD/USD is trading at 0.6163 at the time of writing, down 0.27% on the day.
13-09-2024 08:17 GMT
by Kenneth Fisher
The CME FedWatch tool has suggested a total of 250 bps Fed funds rate cuts through September next year, to bring the Fed funds rate to 2.75%-3.00%.
An upbeat BoJ’s monetary policy statement next Friday may trigger another round of JPY strength.
Watch the key levels of 83.80 and 91.60 on the NZD/JPY.
This is a follow-up analysis of our prior report “JPY crosses face another round of potential downside pressure as NFP looms” published on 6 September 2024. Click here for a recap.
13-09-2024 07:28 GMT
by Kelvin Wong
The euro has extended its gains on Friday. EUR/USD is trading at 1.1091 in the European session at the time of writing, up 0.13% today.
13-09-2024 05:08 GMT
by Kenneth Fisher
The New Zealand dollar is showing little movement on Thursday. NZD/USD is trading at 0.6139 at the time of writing, up 0.05% on the day.
New Zealand’s Manufacturing PMI expected to improve
New Zealand’s manufacturing sector has been in the doldrums, as the manufacturing PMI has posted 17 consecutive declines.
12-09-2024 10:23 GMT
by Kenneth Fisher
The Australian dollar has posted slight gains on Thursday. In the European session, AUD/USD is up 0.16%, trading at 0.6684 at the time of writing.
Australia’s inflation expectations dip to 4.4%
Australia’s consumer inflation expectations eased to 4.4% in September, down slightly from 4.5% in August but above the forecast of 4.1%.
12-09-2024 09:10 GMT
by Kenneth Fisher
The euro continues to show limited movement and is almost unchanged on Thursday. EUR/USD is trading at 1.1010 in the North American session at the time of writing.
ECB expected to deliver 25 bps cut
The European Central Bank meets later today and the markets are expecting a rate cut of 25 basis points, which bring down the key rate to 3.5%.
12-09-2024 05:05 GMT
by Kenneth Fisher
The Japanese yen has extended its gains on Wednesday. USD/JPY fell as low as 140.70, its lowest level this year, before paring much of the losses.
11-09-2024 12:47 GMT
by Kenneth Fisher
The Australian dollar dipped lower earlier but has recovered. In the North American session, AUD/USD is trading at 0.6655, up 0.04%.
Smaller Fed cut more likely after drop in CPI
The eagerly-anticipated US inflation report came in as expected and didn’t have much impact on the movement of the US dollar.
11-09-2024 12:45 GMT
by Kenneth Fisher
In the past four weeks, Gold (XAU/USD) has traded in a tight range environment below US$2,532 key intermediate range resistance.
Positive momentum reading and a major bearish breakdown seen in the 10-year US Treasury real yield may trigger a bullish breakout in Gold (XAU/USD).
Watch the key medium-term support at US$2,435 for Gold (XAU/USD).
11-09-2024 07:41 GMT
by Kelvin Wong
Gold prices are inching higher as the market awaits the US CPI release.
Market reaction to the CPI data will depend on whether rate cut expectations are already priced in.
From a technical analysis perspective, the gold chart may be forming a double top pattern ahead of the CPI release.
Most Read: Brent Crude – Oil Slides Below $70 a Barrel, First Time Since December 2021
Gold prices inched higher in Asian trade as market participants brace for the US CPI release.
11-09-2024 06:17 GMT
by Zain Vawda
The Japanese yen is in positive territory on Tuesday. In the North American session, USD/JPY is trading at 142.63 at the time of writing, down 0.37% on the day.
Will BoJ stay on the sidelines until 2025?
Bank of Japan meetings used to be sleeper events but that has changed now that the central bank has exited its negative rate policy and is likely to continue tightening.
10-09-2024 11:29 GMT
by Kenneth Fisher