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The Australian dollar, paired with the US dollar, is on a downward trajectory. The current AUDUSD exchange rate stands at 0.6517. The Aussie dropped to a weekly low against the USD following the release of softer-than-expected inflation data in Australia. The consumer price index stood at a two-year low of 3.4% in January, remaining unchanged […]
The New Zealand dollar responded negatively to the RBNZ’s remarks and is now decreasing against the US dollar. The current NZDUSD exchange rate stands at 0.6112. NZD dropped to a two-week low after the Reserve Bank of New Zealand kept the interest rate unchanged and proposed a less aggressive approach to monetary policy. The interest […]
ETH Soaring The rally in Bitcoin is helping drive a broad bull move across the crypto space currently. Second largest traded coin Ethereum is now back up to its highest levels since March 2022, close to testing the 2022 highs. The coin has put in an impressive 57% move higher this year, up more than […]
Daily Market Outlook, February 28, 2024 Munnelly’s Market Minute… “Markets Cautious Ahead of US GDP Then PCE Tomorrow” Asian Markets: Markets in the region are cautious ahead of key US data releases. The number of Fed rate cuts discounted by markets has fallen to three, equaling the signal provided in policymakers’ ‘dot plot’ of interest […]
In Tuesday’s early New York session, gold showcased its resilience against the US Dollar, buoyed by hopes of an eventual dovish turn in Federal Reserve policy. Investors, eyeing a potential rollback of the Fed’s restrictive interest rate stance, flocked towards non-yielding assets like gold, seeking refuge from the uncertainties looming in the market. However, the […]
Japanese Inflation Tops Forecasts The Japanese Yen is seeing better demand across early European trading on Tuesday. Overnight, the latest Japanese inflation data has once again turned for onto potential BOJ policy normalisation. National Core CPI was seen coming in at 2% last month, above the 1.9% the market was looking for. The data increases […]