New Zealand Dollar trades sideways ahead of Fed rate decision
The NZD/USD pair trades sideways near the 0.5830 region on Wednesday, as the New Zealand Dollar (NZD) finds mild support from a softer US Dollar, while traders remain cautious ahead of the Federal Reserve’s (Fed) policy decision. The Fed is expected to hold rates in the 3.50%-3.75% range at the first Federal Open Market Committee […]
XAG/USD clings to 200-day SMA as Fed takes center stage
Silver (XAG/USD) trades virtually unchanged on Tuesday around $70.00 after reclaiming its 200-day Simple Moving Average (SMA), as traders await the Federal Reserve’s (Fed) monetary policy announcement before placing large directional bets. The white metal is struggling to capitalize on the weaker US Dollar (USD) and lower Oil prices, which have come under pressure after […]
Silver rises on weak US Dollar as markets await Fed decision
Silver (XAG/USD) advances on Tuesday and trades around $70.45 at the time of writing, up 0.60% on the day. The white metal extends its rebound as investors adjust positions ahead of the Federal Reserve’s (Fed) monetary policy decision due on Wednesday. Market attention also remains focused on diplomatic developments between the United States (US) and […]
Indian Rupee remains firm on early signs of FIIs return
The Indian Rupee (INR) reflects strength against the US Dollar (USD) on Tuesday. The USD/INR pair trades lower around 94.58 as lower oil prices due to the successive reopening of the Strait of Hormuz, following the signing of a peace deal between the United States (US) and Iran, and signs of improvement in sentiment of […]
Needs breakout above 160.70 for fresh leg of rally
The USD/JPY pair ticks down to near 160.25 during the European trading session on Tuesday. The pair trades marginally lower as the Japanese Yen (JPY) outperforms its peers, following the Bank of Japan’s (BoJ) monetary policy announcement. In the policy meeting, the BoJ raised interest rates by 25 basis points (bps) to 1%, as expected, […]
RBA Governor Bullock to hold a press conference after pausing interest rate hikes
Reserve Bank of Australia (RBA) Governor Michele Bullock is due to hold a press conference at 5.30 GMT, following the central bank’s decision to hold the benchmark interest rate at 4.35% on Tuesday. Bullock will take questions from the media as part of a new reporting format for the central bank that started last year. […]
Will the BoJ’s expected rate hike strengthen the Yen?
The Bank of Japan (BoJ) will announce its monetary policy decision on Tuesday, at around 3:00 GMT. The BoJ is widely expected to deliver a hawkish move by hiking the benchmark interest rate by 25 basis points (bps) to 1%, its highest level since 1995. The hike is meant not only to address mounting inflationary […]
The Bank of Japan can’t save the Japanese Yen
USD/JPY is grinding into the Bank of Japan’s (BoJ) June meeting above the 160.00 handle, a whisker from multi-decade highs, while the central bank meant to defend the Yen prepares to raise rates to a three-decade high without lifting the currency at all. A quarter-point step to 1% has been roughly 80% priced for weeks, […]
Dow Jones buys the headline on an Iran deal, not the fine print
The Dow Jones Industrial Average (DJIA) punched to a fresh all-time intraday high on Monday, climbing around 1% as Wall Street cheered a preliminary peace agreement between the US and Iran. The catalyst is real enough; the framework reopens the Strait of Hormuz, lifts the US naval blockade, and extends the existing ceasefire by 60 […]
We expect Strait of Hormuz to be open toll-free long term
In an interview with CNBC on Monday, United States (US) Vice President JD Vance said that they expect the Strait of Hormuz to be “open toll-free in the long term,” per Reuters. Key takeaways “Will have two-step verification process.” “Lots of details still to sort out.” “We will see where Tehran is willing to make […]
