Close split keeps May hike in play – TD Securities
TD Securities strategists Prashant Newnaha and Alex Loo note the RBA lifted the cash rate by 25 bps to 4.10% in a narrow 5-4 decision, driven mainly by elevated domestic inflation and excess demand. They still expect another hike in May but stress that outcome is not assured, with Middle East conflict dynamics and inflation […]
RBA Governor Bullock speaks on policy outlook after the expected interest rate hike
Reserve Bank of Australia (RBA) Governor Michele Bullock is addressing the press conference, explaining the reasons behind raising the benchmark interest rate by 25 basis points (bps) to 4.10% after the March monetary policy meeting. Bullock is responding to media questions as part of a new reporting format for the central bank that began last […]
NZD/USD dips below mid-0.5800s as USD gains, focus on Fed and NZ GDP
The NZD/USD pair meets with a fresh supply during the Asian session on Tuesday and erodes a part of the previous day’s solid recovery from the vicinity of a one-month low, touched last week. Spot prices currently trade just below mid-0.5800s and seem vulnerable while below a technically significant 200-day Simple Moving Average (SMA). Investors […]
GBP/USD bounces from lows as US Dollar retreats
GBP/USD gained almost 0.75% on Monday, bouncing from Friday’s low close to 1.3220 to settle on the high side of 1.3300. The session’s recovery looks corrective rather than the start of a new trend; the pair remains in a clear downtrend from the late-January high near 1.3870, and Monday’s candle has yet to challenge the […]
US Dollar pulls back as markets assess Iran; Fed, ECB ahead
Here is what you need to know for Tuesday, March 17: The US Dollar (USD) reversed its four-day positive streak on Monday after markets assessed the United States (US) strike on Kharg Island, a strategic Iranian Oil outpost in the Persian Gulf, and warned that if Tehran continues to disrupt naval activity in the Strait […]
Gold rebounds as US Dollar and Treasury yields retreat
Gold (XAU/USD) edges higher on Monday after reversing intraday losses as the US Dollar (USD) and Treasury yields ease following its recent rally. However, Oil-driven inflation concerns stemming from the ongoing US-Iran war raise the risk that central banks will keep borrowing costs elevated for longer, which continues to cap the metal’s upside despite heightened […]
BoJ caution and energy shock weigh on currency – MUFG
MUFG analysts Derek Halpenny and Lee Hardman observe that Japan has seen the smallest hawkish repricing among G10, with markets already pricing two Bank of Japan (BoJ) hikes but little additional tightening after the energy shock. A weaker Japanese Yen reflects expectations that Japan’s energy-import dependence leaves it vulnerable, and the absence of a firm […]
Dow Jones futures gain as US may announce coalition to open Hormuz
Dow Jones futures gain 0.33% to trade near 46,750 during European hours ahead of the US regular market open on Monday. S&P 500 and Nasdaq 100 futures rise 0.49% and 0.51% to trade around 6,670 and 24,520 at the time of writing. US stock futures rise as risk aversion eases on reports that the United […]
US President Donald Trump increases pressure on allies over strait of Hormuz—FT
US President Donald Trump warned that the North Atlantic Treaty Organization (NATO) faces a “very bad” future if US allies fail to assist in opening up the strait of Hormuz, the Financial Times reported on Monday. Trump further stated on Sunday that he has demanded about seven countries send warships to keep the Strait of Hormuz […]
US Dollar Index remains above 100.00 after pulling back from nearly 10-month highs
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, retreats after touching a near 10-month high of 100.54 in the previous session, trading around 100.20 during Asian hours on Monday. The Greenback weakens as risk aversion eases after a report from The Guardian indicated that US […]
