Bulls target YTD high after breakout
The Aussie Dollar finished the week with gains of over 0.82% on Friday and up more than 1.20% for the week as the US Dollar tumbled following the US Treasury Department’s announcement of a bond buyback for the long end of the curve. The AUD/USD trades at 0.7170, after rebounding near 0.7067. AUD/USD Price Forecast: […]
US Treasury yields extend rebound as Services PMI beats estimates
US Treasury yields continue their recovery following the announcement of a bond buyback by the US Department of the Treasury, while data reveal that business activity remains solid despite a slowdown in manufacturing. Yields rise as strong services activity offsets Treasury buyback support US Treasury yields across the whole curve rose, with the 2-year Treasury […]
Bessent says US unlikely to resume large-scale Iran combat, steps up economic pressure
US Treasury Secretary Scott Bessent said that the US President Donald Trump administration’s plan to crush Iran’s economy will likely negate the need for major US military operations against the Islamic Republic, CNBC reported on Thursday. “If we are doing the maximum economic pressure, then that means that likely there will not be a large-scale […]
The Dollar Index takes its floor from a Fed non-voter
The Dollar Index has spent Thursday building a floor just above 98.50 and defending it with everything the calendar had to offer, and the entire effort is worth roughly a tenth of a point. A five-year high in Philadelphia manufacturing, a jobless claims beat and a hawkish regional Fed voice have between them lifted the […]
British Pound climbs as UK inflation keeps BoE hike bets alive
The Pound Sterling (GBP) advances on Thursday during the North American session, up 0.25% after US economic data showed that the labor market remains solid, despite a weaker Nonfarm Payrolls in July. The GBP/USD pair trades at 1.3639 after reaching a daily high of 1.3659, its highest level since February. GBP/USD rises as UK inflation […]
Euro consolidates near late May highs as USD steadies on FOMC, Iran
The EUR/USD pair enters a bullish consolidation phase after touching its highest level since late May during the Asian session on Thursday. Bulls now await a move beyond the 1.1700 mark before placing fresh bets and positioning for an extension of an over a three-week-old uptrend. The US Dollar (USD) stabilized following the previous day’s […]
British Pound edges lower as USD steadies; bullish bias remains
The GBP/USD pair edges lower during the Asian session on Thursday and retreats further from its highest level since May 11, touched the previous day. Spot prices slip below the 1.3600 mark in the last hour, though the fundamental backdrop seems tilted in favor of bulls and backs the case for the emergence of some […]
New Zealand Dollar rallies as Treasury buyback drags US yields
The New Zealand Dollar (NZD) rallies against the US Dollar (USD), pushing north of the 0.5930 mark. The move is driven by broad weakness in the Greenback rather than anything out of New Zealand. The trigger was the United States (US) Treasury Department. It said it will at least double its buyback operations for longer-dated […]
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. The US Dollar Index (DXY), which gauges the Greenback’s value […]
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. Source link
