Inflation Report and Rate Decision Outlook
EUR: Might slip back to 1.0600 in a hawkish Fed. Yesterday, the EUR/USD experienced a brief surge in value, but it appears that market participants are maintaining their positions in the US dollar in a hawkish stance from the Federal Reserve.
The Dollar Index slumped while gold and silver prices soared on hopes that the Fed may start easing policy sooner than expected. Meantime the Kiwi (NZD/USD) found its wings, soaring 0.55% against the Dollar ahead of today’s RBNZ rate decision. New Zealand’s Reserve Bank is expected to keep its Official Cash Rate at 5.5%.
ACY Securities | 1h 50min ago
In the current market scenario, equities exhibit a mixed performance, characterized by narrow ranges, while the foreign exchange (FX) market experiences a temporary stall as participants eagerly await additional data.
ACY Securities | 1h 54min ago
The Dollar Index (DXY), a popular gauge of the Greenback’s value against a basket of 6 major currencies, extended its drop to 103.40 (103.75) in thin holiday trade. The Canadian Loonie outperformed. The USD/CAD pair slid 0.7% to 1.3615, just over one-month lows from 1.3640 in the previous session.
ACY Securities | 1 day ago
U.S. long-term treasury yields have retraced to recent lows, adding sparking discussions about the possibility of the Federal Reserve cutting rates next year; this has added downside pressure on the U.S. dollar, with the dollar index reaching its lowest level since August
PU Prime | 1 day ago
The U.S. equity market is set to return to normal trading hours after the Thanksgiving holiday; meanwhile, with the VIX index reaching its lowest level since January 2020. This suggests a heightened risk-on sentiment, potentially supporting bullish trends in the equity market while putting continued pressure on the U.S. dollar.
PU Prime | 2 days ago