Forex

Key Points:  The Central Bank of Turkey (CBT) kept the policy rate at 50%, in line with expectations.  CBT maintains a tightening bias, indicating further hikes may be necessary if inflation persists.  Forex reserves have improved, leading to increased Turkish …

Key points: Dollar heads for its largest weekly rise in over a month. U.S. business activity hits a two-year high, influencing interest rate expectations. The dollar surged this week, marking its largest weekly rise in over a month. Surprisingly strong …

Key points: The pound held at $1.2722, near a two-month high after inflation data and election announcement. British inflation rose by 2.3% annually in April, nearing the Bank of England’s target but slowing less than expected. The British pound held …

Key Points:  Fed officials indicated a willingness to raise rates again if inflation persists.  The Fed maintained its benchmark interest rate at 5.25%-5.5%.  The US Dollar Index (Symbol: USDX) strengthened on hawkish Fed minutes.  Market reactions include a drop in …

Key points: The Bank of Korea will hold the base rate at 3.50% on May 23. A half-point rate cut is expected in Q4 2024 after potential policy easing from global peers. The Bank of Korea (BOK) will keep its …

Key points: Australian dollar drifts 0.2% to $0.6654, with key support levels at $0.6650 and $0.6630. New Zealand dollar eases to $0.6091, with support around $0.6083 and $0.6031. The Australian and New Zealand dollars faltered on Tuesday as the momentum …

Key Points:  Australian dollar rises above $0.67, approaching four-month highs.  New stimulus measures in China and interest rate cut expectations in the US collectively boost commodity prices.  The Australian dollar (Symbol: AUDUSD) marched towards four-month highs, priced above $0.67, as …

The flash PMI data release slated this week in India, Japan, and Australia will be closely watched by investors and analysts. April’s data highlighted robust growth across these economies. India continued to grow at one of the strongest rates seen …

Key Points:  Australian dollar drops below $0.67 against the US dollar following weak employment data.  Increased unemployment and slow wage growth reduce rate hike expectations.  With optimism in economy of China, the Australian dollar may be bolstered as it is …

The current sentiment in the forex market is manifesting through interesting trends across key currency pairs, indicating potential shifts that traders should monitor closely. Starting with the GBP/USD pair, 56.68% of clients are currently bearish, with a short-to-long ratio of …