Author: admin
SINGAPORE – The yen steadied on Tuesday after a sharp drop in the previous session as the joint U.S.-Japan intervention failed to deliver a lasting boost, while the Australian dollar was at an eight-week high ahead of a policy decision from the country’s central bank. The yen firmed to 158.93 per U.S. dollar in Asian hours, but remained further away from the three-month high of 155.20 hit last week in the wake of the rare U.S.-Japan yen-buying intervention at the end of July.The joint effort came after the yen hit a 40-year low of 163.99 per dollar but the yen…
The Reserve Bank of Australia (RBA) is on track to keep the Official Cash Rate (OCR) steady at 4.35% for the second consecutive meeting on Tuesday.The decision will be announced at 04:30 GMT, accompanied by the Monetary Policy Statement (MPS) and updated economic forecasts. RBA Governor Michele Bullock’s press conference will follow at 05:30 GMT.The Australian Dollar (AUD) is set to experience volatility around the RBA policy announcement and Bullock’s press conference, with markets focused less on the widely expected hold and more on signals about the central bank’s next policy move, as softer-than-expected inflation data could cloud the central…
The Dow Jones Industrial Average trades near 54,000 on Monday, lower by a tenth of a percent inside a range of barely 200 points, the narrowest daily bar in weeks. Every price of the session sits inside Friday’s range, and Friday’s sat inside Thursday’s. The index is neither extending last week’s record nor handing it back. It is waiting for Wednesday.The largest single-name move of the session belongs to a company outside the average, which is the shape most sessions have taken lately. Intel (INTC) fell 3% after saying it would sell 15 billion Dollars of common stock, and none…
The Indian rupee is unlikely to breach 96 per dollar this financial year, with measures to attract dollar flows and falling commodity prices helping contain downside risks, according to Credit Agricole CIB India’s treasury head.The French lender’s models peg the rupee’s fair value at 96 per U.S. dollar, and it expects the currency to trade in a 94-96 range this financial year.The local currency ended at 95.30 against the dollar on Monday.”After a sharp move, upside risks (to USD/INR) now seem more contained than before, largely on account of the measures undertaken by the central bank and the government to…
BNY’s Wee Khoon Chong highlights that long-end JGB yields are rising on inflation and fiscal concerns, with markets pricing a roughly 50% chance of a 25bp BoJ hike in September and a full hike by year-end. The BoJ’s July MPM Summary of Opinions signals accommodative conditions but a tilt toward further tightening, with risks of larger hikes if action is delayed.BoJ debate shifts to overshoot risks”Long-end JGB pressure is building. Inflation risks and fiscal concerns have pushed long-end JGB yields toward the upper end of recent ranges.””Several members argued that the bank should keep the policy rate unchanged at this…
The rupee declined by 11 paise to settle at 95.28 (provisional) against the US dollar on Monday amid a firm greenback and a rise in global crude oil prices.Lack of any breakthrough in talks in West Asia put further pressure on the local unit, while FII inflows provided some support, forex traders said.At the interbank foreign exchange market, the rupee opened at 95.18 and traded in a narrow range of 95.18-95.31 during the day. The local unit settled at 95.28 (provisional), down 11 paise from its previous close of 95.17 on Friday.”Rupee marginally dipped from last Friday’s closing of 95.17.…
Eurozone’s Sentix Investor Confidence data, a key indicator of Investor morale, turns positive to 0.9 in August from -3.1 in July. Source
The rupee fell 8 paise to 95.25 against the US dollar in early trade on Monday, weighed down by a stronger greenback and a rise in global crude oil prices.However, FII inflows and a rise in the country’s forex reserves capped a sharper fall in the local unit, forex traders said.At the interbank foreign exchange, the rupee opened at 95.18 before slipping further to 95.25, down 8 paise from its previous close.The rupee settled with a 5 paise gain at 95.17 against the US dollar on Friday.”Overall, USD/INR remained range-bound around 95.20-95.30, with the rupee ending the session (on Friday)…
USD/CHF inches higher after registering over 0.5% losses in the previous trading day, hovering around 0.8090 during the Asian hours on Monday. The pair appreciates as the US Dollar (USD) gains on rising safe-haven demand amid geopolitical tensions remaining high as the ongoing United States (US)-Iran conflict enters a critical diplomatic phase, with intense military engagements and strategic pressure surrounding the Strait of Hormuz driving market caution.Iran stated that talks with Oman to establish a safe shipping route through the strategic waterway are nearing an agreement, though Tehran cautioned that any deal would not result in an immediate reopening.Meanwhile, Iran-backed…
The dollar fell against major currencies including the yen and euro on Friday after U.S. employment unexpectedly declined in July, fueling concerns about the economy’s strength and undermining the case for the Federal Reserve to raise interest rates.The U.S. economy lost 23,000 jobs in July, the Labor Department said, compared with economists’ expectations for an increase of 80,000 jobs, according to a Reuters poll. The U.S. unemployment rate fell to 4.1% as the labor participation rate fell to a near a five-and-a-half year low of 61.4%.The dollar weakened against the yen after the report, shedding gains made in recent days…