The dollar showed a mixed performance on Wednesday following the release of data showing that employers had added 818,000 fewer jobs in the year leading up to March 2024 than previously thought. This unexpected data release beyond its scheduled time caused confusion in the markets, leading to some choppy trading. While this data might not
Forex
The dollar has been under pressure in recent times, hovering near a seven-month low, as investors anticipate a potential rate cut by the U.S. Federal Reserve in the coming months. This speculation has been bolstered by the likelihood of interest rate reductions starting in September, with traders closely monitoring Federal Reserve Chair Jerome Powell’s speech
The recent fluctuations in the Japanese yen have raised concerns about the effectiveness of the government’s intervention strategies. The cat-and-mouse game between speculators and Japan’s authorities has led to a rollercoaster ride for the currency, with both highs and lows causing instability in the market. The question now is whether the government should rein in
The U.S. dollar saw a slight decline on Friday, in response to strong retail sales figures that eased concerns about a possible recession in the country. The Dollar Index, which tracks the dollar against a basket of other currencies, traded 0.1% lower to 102.725. This comes after a 0.4% increase in the previous session, marking
Recently, BofA Securities analysts have brought attention to the Swiss National Bank’s (SNB) intervention in the foreign exchange markets. This intervention was aimed at weakening the Swiss Franc (CHF) during a period of significant market turmoil. The analysts at BofA predict a further depreciation of the CHF, as the Real Effective Exchange Rate (REER) has
The recent movements in Asian currencies have been influenced by various factors, including a weakening dollar and actions taken by central banks in the region. While most Asian currencies firmed up, the New Zealand dollar experienced steep losses following a surprise interest rate cut by the Reserve Bank of New Zealand. The decision to reduce
Citi Research has recently taken a more negative stance on risk, advising investors to sell any EUR/USD rallies. This shift in sentiment comes as the U.S. bank expresses concerns about increasing volatility leading up to the U.S. election and the possibility of a recession in the United States. The EUR/USD pair has seen some fluctuations,
Following a tumultuous week of massive sell-offs in both currencies and stock markets, the currency market experienced a calmer trading day on Monday. This respite was a stark contrast to the volatile moves that characterized the previous week, fueled by concerns over the U.S. economy and hawkish signals from the Bank of Japan. However, the
Recent data released by the U.S. Commodity Futures Trading Commission and LSEG revealed that leveraged funds’ position on the Japanese yen has decreased significantly. The net short stance is now at its lowest point since February 2023, with a total of 24,158 contracts being shorted. This represents a sharp decline from the previous week, where
The U.S. dollar has steadied near a one-month high following a positive labor market release that saw a drop of 17,000 in initial claims for state unemployment benefits. This news allayed fears of a potential recession in the world’s largest economy, with the Dollar Index trading largely unchanged at 103.007. The market’s reaction to jobless