Market News
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Australia’s Unemployment Rate jumps to 4.5% in July, vs 4.4% expected
Australia’s Unemployment Rate climbed to 4.5% in July from 4.4% in June, according to the official data released by the Australian Bureau of Statistics (ABS) on Thursday. The figure came in above the market consensus of 4.4%.
Euro surges as traders ignore Fed’s hawkish minutes
The Euro (EUR) gains over 0.85% against the US Dollar (USD) during the North American session on Wednesday, even though the latest Federal Reserve (Fed) minutes had a hawkish tone, with some participants, along with the three dissenters, suggesting that raising rates could be necessary if the disinf
USD/CHF Price Forecast: Franc tests 100-day SMA as US Dollar tanks
The USD/CHF pair tumbles nearly 2% on Wednesday as a US Treasury buyback announcement sends the Greenback into a tailspin, while US Treasury yields also dive. The pair trades at 0.7979 after reaching a high of 0.8128.
AUD/USD Price Forecast: Positive momentum points to further upside
AUD/USD holds firm near a two-and-a-half-month high on Wednesday, supported by broad US Dollar (USD) weakness, while technical indicators point to further upside. At the time of writing, the pair trades around 0.7118, up 0.43% on the day, after reaching an intraday high of 0.7129.
United States 20-Year Bond Auction: 5.204% vs 5.163%
United States 20-Year Bond Auction: 5.204% vs 5.163%
Mexican Peso rallies to two-year high on US Treasury buybackÂ
The Mexican Peso (MXN) rallies to a two-year high of 16.94 on Wednesday as the US Dollar (USD) weakens amid falling US yields, which retreated after the US Treasury doubled the size of its long-duration bond buyback. The USD/MXN pair trades at 16.95, down 0.27%.
WTI Oil climbs as US-Iran standoff keeps Middle East supply risks elevated
West Texas Intermediate (WTI) Oil holds firm on Wednesday, hovering near its highest level in more than three weeks as traders balance Middle East supply risks against rising US crude inventories. At the time of writing, the US benchmark trades around $85.20 per barrel, up nearly 1% on the day.
New Zealand Dollar jumps as falling US yields weigh on the USD
NZD/USD rises sharply on Wednesday and trades around 0.5930 at the time of writing, up 0.96% on the day. The New Zealand Dollar (NZD) benefits primarily from broad weakness in the US Dollar (USD), as the sharp decline in US Treasury yields reduces the appeal of the Greenback.
EUR/GBP pushes toward two-week high amid cooling UK services inflation
EUR/GBP trades on the front foot on Wednesday, pushing up to the vicinity of a two-week high near the 0.8570 region as the Euro holds firm against a softer British Pound (GBP). The pair has cleared its recent range after a run of green candles on the 4-hour chart.
Russia Producer Price Index (YoY) fell from previous 10.5% to 6.6% in July
Russia Producer Price Index (YoY) fell from previous 10.5% to 6.6% in July
Russia Producer Price Index (MoM): -2.5% (July) vs previous -0.1%
Russia Producer Price Index (MoM): -2.5% (July) vs previous -0.1%
Indonesian Rupiah: BI holds rates to back IDR – BNY
Geoff Yu writes that Bank Indonesia (BI) kept its benchmark rate at 5.75% for a second month in Acting Governor Destry Damayanti’s first decision.
British Pound jumps as Treasury buyback weakens the US Dollar
The Pound Sterling (GBP) climbs against the US Dollar (USD) on Wednesday as the US Treasury stepped up in the markets to offer liquidity support via a buyback of longer-dated bonds, a day after the US 30-year yield hit its highest level since 2007.