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Traders are preparing for the conclusion of a Federal Reserve policy meeting. Investors are waiting to see if Powell opposes the idea of interest rate cuts in the first half of 2024. The Bank of Canada could be one of the first central banks to ease in 2024. On Wednesday, the USD/CAD forecast leaned towards…
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Data revealed an acceleration in US job growth in November. There was a drop in the unemployment rate to 3.7%. There is speculation that the Bank of Japan might be nearing the end of its ultra-low interest rates policy. An optimistic USD/JPY forecast set the tone for a bullish journey, fueled by the dollar’s promising…
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Fed’s Waller suggested the possibility of a rate cut in the coming months. The dollar dropped over 0.5% to 146.675 yen, marking its weakest point in over two months. A key measure of Japan’s inflation trend accelerated to 2.2% in October. The USD/JPY forecast showed a bearish bias entering midweek as the dollar fell to…
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There was optimism that the Federal Reserve’s hiking cycle was done. Data revealed a larger-than-expected drop in Americans filing new jobless claims. Fed meeting minutes revealed a cautious stance toward monetary policy. The EUR/USD weekly forecast is shaped by a bullish trend, propelled by the weakening of the dollar amid optimism surrounding the Fed’s pause….
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Neel Kashkari stated that the Fed probably needs to do more work to manage inflation. Fed Chairman Jerome Powell will deliver speeches on Wednesday and Thursday. Japan’s real wages declined for the 18th consecutive month. The USD/JPY outlook brightened with investors embracing a bullish sentiment Tuesday as the dollar extended its rally, building on Monday’s…
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The Canadian dollar remained weak ahead of the Bank of Canada policy meeting. Soaring US bond yields boosted the dollar. Canadian retail sales fell by 0.1% in August. The USD/CAD outlook takes on a bullish stance as the dollar gains some ground with a boost from soaring US bond yields. Meanwhile, the Canadian dollar remained…
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The dollar weakened amid reduced bets of a rate hike in December. US retail sales rose while initial jobless claims fell, indicating a robust economy. Economists agree that the European Central Bank’s rate hike cycle has concluded. The EUR/USD weekly forecast shows a slight edge for the euro over the dollar as the market adjusts…
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The Fed minutes revealed a cautious approach from policymakers. The US released a mixed report on producer prices for September. ECB policymakers noted that new shocks could potentially necessitate a continuation of the tightening cycle. The EUR/USD forecast is bullish, with the dollar near a two-week low as investors digested the recent Federal Reserve meeting…
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The bias is bullish despite temporary retreats. The US data should bring high action today. Taking out the R2 activates further growth. The gold price extended its recovery rally as the US dollar slipped further. The precious metal is trading at $1,868 at the time of writing. The bias is bullish in the short term….
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Traders eagerly anticipate the release of the Fed’s policy meeting minutes. US inflation data will come out on Thursday. Reports suggest China is considering new stimulus measures. Wednesday’s AUD/USD price analysis is bullish as the dollar trades within a narrow range, pressured by dovish comments from Federal Reserve officials. Meanwhile, traders eagerly anticipate the release…
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There was a drop in US interest rate expectations and Treasury yields. The pound remained close to last week’s 1-1/2 week high. Investors are factoring in one more BOE rate increase in 2024. Tuesday’s GBP/USD outlook is bullish as the dollar weakened amid a drop in US interest rate expectations and Treasury yields. This shift…