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Here are the latest developments in global markets:FOREX: The dollar was little changed against a basket of currencies ahead of a two-day meeting by the Federal Reserve that is to commence later in the day. The New Zealand dollar maintained positive momentum from yesterday, rising to its highest in a...
Here are the latest developments in global markets:FOREX: The dollar was trading down relative to a basket of currencies but still not far below a three-week high of 94.09 reached on Friday. The antipodean currencies – predominantly the kiwi – were advancing relative to the greenback. The New Zealand dollar’s...
Here are the latest developments in global markets:FOREX: The dollar rallied overnight against its counterparts on news that US lawmakers agreed to temporarily extend the government spending bill, a day before the deadline on Friday. The pound was on track to post a second day of gains as concerns over a...
Here are the latest developments in global markets:FOREX: The dollar hit a two-week high against a basket of currencies as optimism on US tax reform continued to support the currency, though concerns over a possible government shutdown restricted steeper upside movement. The euro and the pound were on track to...
Here are the latest developments in global markets:FOREX: The dollar weakened against its major counterparts on Wednesday as unless a deal is reached the government will run out of funds on Friday. This is spreading fears of a partial government shutdown. The pound was under pressure amid weakening hopes for progress on Brexit...
Here are the latest developments in global markets:FOREX: The RBA held rates unchanged on early Tuesday as expected, but the aussie hit a three-week high following upbeat retail sales figures which pointed to an improved economic outlook. The kiwi also posted a strong rebound, erasing yesterday’s losses after the RBNZ governor...
The pound rallied on foreign exchange markets on reports that the UK and the EU had agreed on a Brexit bill while the US dollar and risk sentiment more generally were helped by the passage of the Republican tax cut package through a Senate committee. These developments helped markets...
The US dollar was consolidating its gains from the previous day when hopes for tax reform were rekindled by an optimistic tweet by President Trump.Euro/dollar was pushed back below 1.19 as the single currency showed it was not yet ready for a test of the key psychological 1.20 level....
Asian markets had a poor start to the week as sentiment was dampened by sliding stocks in China and South Korea and uncertainty ahead of the Senate vote on the Republican’s tax plan later this week. Investors were also cautious ahead of a busy data week for the major...
As the Asian session was nearing completion, the dollar was little changed on the day relative to major rival currencies after yesterday posting sizable losses following the release of the minutes of the Federal Reserve’s October 31-November 1 meeting which showed differing views within the FOMC, casting doubts about...
The dollar was on the backfoot in Asia on Wednesday as the US yield curve flattened to its lowest spread in a decade, while dovish comments from the Fed chief late on Tuesday dragged the currency even lower ahead of the Fed meeting minutes. Energy markets also posted significant moves during the session, with oil...
Trading conditions were thin on Tuesday as economic releases were few, while the US was in a holiday mode ahead of the Thanksgiving Day on Thursday. Japan is also celebrating its Labour Thanksgiving Day on Thursday. The dollar remained steady at one-week high levels during the session as political noise in Germany continued to weigh...
The euro was the worst performer among its major peers on Monday after German negotiations to form a coalition government broke down during the weekend. Consequently, the dollar index jumped on the news, but the yen might attract investors’ attention this week as the future of the US tax overhaul is...
The dollar opened weaker on Friday in Asia on news that several officials from Trump’s campaign were subpoenaed for Russia-linked documents despite markets relief on the US tax story after lawmakers approved the tax plan in the House of Representatives. Consequently, investors turned risk-averse during the session, pushing the safe-haven assets...
Weakened prospects on the US tax reforms continued restricting the dollar’s gains in Asia despite Wednesday’s encouraging data cementing a third-rate hike this year, while a mixed employment report in Australia did little to support the aussie.On Wednesday, two Senate Republicans expressed their opposition to the tax plan, claiming that they would not...
On Wednesday, the dollar performed poorly relative to its major counterparts in Asia, failing to recover on the back of a stronger euro and on continued concerns on the future of the US tax overhaul. Its Australian peer, however, was the worst performer during the session, as wage growth...
Ahead of a busy day in terms of economic data out of the UK, the US and the Eurozone, the pound moved lower as doubts over May’s leadership continued weighing on the currency, while markets were also cautious whether British lawmakers would approve the government’s Brexit bill. The aussie was the biggest winner...
Forex markets were relatively quiet on Monday as economic releases were limited. However, political challenges in the UK during the weekend, pressured the pound, while the dollar managed to gain ground as investors were widely expecting a third Fed rate hike despite continuing uncertainties around the US tax overhaul...
US tax legislation was the main headline during today’s Asian session after the US Senate flagged a delay in corporate tax cuts on Thursday, pushing the dollar lower against its counterparts. Meanwhile, the aussie posted moderate losses after the RBA downgraded its forecasts on inflation.While the US President continues his trip in Asia, his team...
The kiwi recorded a strong rebound on late Wednesday, flying to a two-week high after the RBNZ left rates unchanged but raised expectations that future hikes might emerge earlier than anticipated. The aussie posted some gains early on Thursday as China, Australia’s main export partner, released stronger than projected...
The dollar opened weaker in Asia as traders were concerned about a potential delay in the implementation of a corporate tax cut, while they also turned cautious on US-North Korea political developments after Trump delivered a warning message to North Korea. The kiwi stood flat ahead of the RBNZ policy...
Early on Tuesday, the RBA decided to hold interest rates steady at record low levels, retaining its confidence on economic growth and the labour market. The aussie, however, posted short-lived gains following the policy statement as weak inflation continued to worry policymakers. Meanwhile, in New Zealand, the Finance Minister said that targeting...
The dollar managed to hit an 8-month high against the yen on Monday in Asia after the BOJ Governor Haruhiko Kuroda signaled a continuation of the current ultra-easy monetary policy, while persistent confidence on the US economy supported the pair as well. Oil recorded a substantial increase, rising to a two-year high amid...
As Asian traders were completing this week’s trading, the dollar was not much changed relative to most major counterparts with investors’ attention falling to the US jobs report due at 1230 GMT.At 0818 GMT, the dollar’s index against a basket of currencies was 0.1% higher, trading at 94.79. It...
There was some profit-taking on the US dollar following reports that President Trump has decided to nominate Fed Governor Jerome Powell for the post of new Fed Chair. The kiwi and the aussie were doing well following upbeat trade and housing data out of Australia, while all eyes later...
The US dollar faced some profit-taking against other majors, after receiving a boost the previous week on tax reform hopes in the US and strong third quarter growth while the euro was hit by the political uncertainty in Spain.Euro/dollar climbed above the 1.16 level to trade around 1.1615, as...
The US currency stood higher on the day as the Asian session was nearing completion, though barring a development that makes US tax reform more likely, that was mostly due to other majors’ weakness rather than any dollar specific factors. Market participants are awaiting the advance estimate of US...
As the Asian session was about to complete, the euro was standing stronger ahead of the European Central Bank’s policy meeting, while the dollar was distancing itself on the downside from the highs it reached earlier in the week.The dollar index, which measures the strength of the US currency...
The Australian dollar was the biggest mover of today’s Asian session as it plunged to 3-month lows versus the greenback after the announcement of third quarter inflation. Other major pairs were mostly holding around the previous session’s levels, with the US dollar preserving its gains.Third quarter headline inflation for...
Most foreign exchange majors stayed within narrow ranges during today’s Asian session as traders were awaiting key business survey data out of the Eurozone and the United States later in the day.The only big mover was the New Zealand dollar, which continued to post heavy losses as the country...