Asian stock markets trade mixed ahead of Trump-Xi meeting
Asian stock markets reflect a mixed performance on Thursday ahead of the meeting between United States (US) President Donald Trump and Chinese leader Xi Jinping later in the day.
Markets
Euro weakens below 1.1400 as Fed rate hike expectations reinforce US Dollar strength
The EUR/USD pair loses ground to near 1.1380 during the early Asian trading hours on Thursday. The major pair extends its downside as hawkish signals from the US Federal Reserve (Fed) boost the US Dollar (USD) against t…
PBOC sets USD/CNY reference rate at 6.7489 vs. 6.7468 previous
The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 6.7489 compared to the previous day's fix of 6.7468 and 6.7184 Reuters estimate.
Gold flat lines below $4,300 as Fed hike bets cap upside ahead of Trump-Xi meet
Gold (XAU/USD) remains depressed below the $4,300 mark, trading near a one-week low set earlier this Thursday as traders await a crucial meeting between US President Donald Trump and his Chinese counterpart Xi Jinping. …
British Pound bears retain control near July lows amid Fed-BoE divergence
The GBP/USD pair sticks to a mildly negative bias for the fourth straight day, trading around the 1.3230-1.3225 region during the Asian session on Thursday, near its lowest level since early July, touched the previous d…
Australian Dollar cools off against the New Zealand Dollar before jobs data
Tuesday's peak just under 1.2500 was the highest for AUD/NZD since early 2013. The cross is trading just above 1.2400, on track for a second straight down day.
US Treasury Secretary Bessent says US-China trade truce extended through January 10
US Treasury Secretary Scott Bessent said that the United States (US) and China have agreed to extend a bilateral trade truce that was set to expire in November through January 10, Blomoberg reported on Wednesday. This m…
Ukraine's President Zelenskyy says ready for energy ceasefire with Russia
Ukrainian President Volodymyr Zelenskyy said Kyiv remains ready for a bilateral “energy ceasefire” with Russia after holding separate talks with the leaders of the United States (US) and the United Kingdom (UK) in New Y…
Iran President sends defiant message to US over potential talks
Iran President Masoud Pezeshkian said that the country won’t allow freedom of navigation through the Strait of Hormuz while sanctions and a US blockade remain in place, Bloomberg reported on Wednesday. This move undersc…
Australia unemployment rate forecast to remain steady at 4.5% in August
Australia’s Unemployment Rate climbed to 4.6% in August from 4.5% in July, according to the official data released by the Australian Bureau of Statistics (ABS) on Thursday. The figure came in above the market consensus …
Forex Today: Australia’s jobs report comes to the fore
There was no respite for the US Dollar’s (USD) march north on Wednesday. In fact, the Greenback has clinched its third consecutive day of gains, hitting at the same time fresh two-month highs. Solid US data and hawkish …
Dow Jones Industrial Average keeps sliding as yields climb on a strong PMI
The strongest S&P Global flash Purchasing Managers Index (PMI) readings since 2021 have done nothing for the Dow Jones Industrial Average. Manufacturing came in at 57 against a 53.5 forecast and services at 58.7 against…
Gold buckles as 5% yields and Fed hawks take control
Gold sank by over 1.5% during the North American session on Wednesday as investors grew confident that the Federal Reserve (Fed) would raise rates at the October meeting. That confidence stems from hawkish remarks made …
Silver Price Forecast: Fed hawks knock XAG/USD toward $64 support
Silver (XAG/USD) price tumbles over 3.67% on Wednesday as investors increase Federal Reserve (Fed)-hawkish bets, following remarks by several officials supporting last week’s rate hike and penciling in further tightenin…
New Zealand Dollar tumbles as strong US PMI data lifts USD
NZD/USD tumbles on Wednesday, losing 1% to trade around 0.5670 at the time of writing. The pair faces strong selling pressure as the US Dollar (USD) benefits from stronger-than-expected United States (US) activity data,…
Euro: Downside bias toward 1.1400 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann keep a negative stance on EUR/USD after the pair closed at 1.1447. They see scope for further Euro (EUR) weakness, with intraday support at 1.1415 and a key le…
British Pound cracks as US growth burst boosts USD
The Pound Sterling (GBP) tanks over 0.70% against the Greenback on Wednesday as US economic data showed business activity is picking up, while fears of a US diesel export ban pushed crude prices higher. The GBP/USD pair…
US 10-year yield hits a 19-year high as Fed Governor Barr backs hikes
Federal Reserve (Fed) Governor Michael Barr made on Wednesday the case for more rate increases, saying the risks to getting inflation back to 2% have grown while the risks to jobs have eased. His remarks followed S&P Gl…
Oil rebounds above $90: Why is the Canadian Dollar still falling?
USD/CAD extends its advance on Wednesday and trades around 1.4090 at the time of writing, up 0.21% on the day. The pair remains close to its recent highs, supported by a firm US Dollar (USD), while the Canadian Dollar (…
Gold falls as strong US PMI data gives Fed room to raise rates again
Gold (XAU/USD) trades on the back foot on Wednesday as expectations of further Federal Reserve (Fed) interest rate hikes lift the US Dollar (USD) and weigh on the non-yielding metal. At the time of writing, XAU/USD trad…
Canadian Dollar: Bearish trend targets 1.4125 – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the Canadian Dollar (CAD) is marginally weaker versus the US Dollar (USD), with USD/CAD at its highest since late July. They stress wide yield spreads…
Swiss Franc: SNB preview signals steady policy – DBS
DBS Group Research economist Philip Wee expects the Swiss National Bank to keep its policy rate unchanged at 0% at the September 24 meeting, despite higher energy prices and a modest uptick in headline inflation.
Euro remains depressed as German politics, France's debt offset strong PMI figures
The Euro (EUR) remains on its back foot against the US Dollar (USD) on Wednesday, extending its decline to two-and-a-half-month lows after dropping about 0.5% so far this week.
Breaking: US S&P Global Composite PMI came in at 58.4 in September
US business activity is predicted to have gained momentum in September, according to the flash reading of the S&P Global Composite PMI, which ticked up to 58.4 from 56.0 in August.