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NZD/JPY Price Analysis: Bullish momentum strengthens, threatens 92.00
Wednesday's trading session witnessed sustained buying pressure in NZD/JPY, leading to a 0.45% increase to 91.65.
RBNZ's Orr: Stable inflation is in sight, policy rate to remain restrictive
Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr flagged the potential that the New Zealand central bank may be more "circumspect" when it comes to further rate cuts looking ahead after the RBNZ kicked off a rate cutting cycle this year.
Australian Dollar declines due to renewed US Dollar buying
The AUD/USD pair declined by 0.97% to 0.6620 in Wednesday's session, driven by intensified US Dollar buying and concerns over China's stimulus measures.
Forex Today: Markets' focus shifts to the release of flash PMIs
Further gains saw the Greenback retest the area of three-month tops, helped by a decent bounce in US yields across the curve, persistent uncertainty around the US election and markets' view of a more cautious Fed easing.
USD/JPY Price Forecast: Clears key-technical levels, turns bullish above 152.00
The USD/JPY extended its gains sharply during Wednesday in the North American session, sponsored by the close positive correlation with the US 10-year T-note yield, while traders remain concerned about US elections.
Canadian Dollar explores further downside following BoC rate cut
The Canadian Dollar (CAD) receded on Wednesday, backsliding another 0.2% against the US Dollar after the Bank of Canada (BoC) delivered a widely expected 50 bps rate cut.
US Dollar marches higher, nears multi-month highs
The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, rose near a three-month high as traders flocked to the US Dollar on Wednesday.The rally was driven by persistent global economic divergence, a more hawkish Federal Reserve (Fed), and upbeat US growth projections by the International Monetary Fund (IMF).
Mexican Peso rebounds despite posting disappointing Retail Sales
The Mexican Peso stages a comeback against the US Dollar on Wednesday, after further data revealed the economy continues to underperform, which could push the Bank of Mexico (Banxico) to lower borrowing costs at the upcoming meeting.
EUR/GBP Price Analysis: Buyers make a stride, outlook remains negative
The EUR/GBP pair continues to consolidate its position, experiencing a mild uptick in Wednesday's session to 0.8330.
BoC to quickly return to a more neutral policy stance - NBC
There may have been some headline uncertainty going into this decision, but markets and economists were clearly leaning towards this outcome.
GBP/USD Price Forecast: Dips below 100-day SMA, sellers target 1.2900
The Pound Sterling extended its losses for the third straight day against the Greenback amid a scarce economic docket in the UK that will feature remarks of Bank of England (BoE) Governor Andrew Bailey.
Lagarde speech: Need to be cautious in policy decisions
While speaking on the sidelines at the 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) on Wednesday, European Central Bank (ECB) President Christine Lagarde noted that they need to be cautious when asked about market expectations for further rate reductions.
USD/CAD holds gains near 1.3850 as BoC cuts interest rates to 3.75%, as expected
The USD/CAD pair remains firm near 1.3850 as the Bank of Canada (BoC) has reduced its key borrowing rates by 50 basis points (bps) to 3.75%.
USD/JPY extends uptrend on political uncertainty whilst USD benefits from economic outlook
USD/JPY is rising as pre-election concerns the ruling LDP party could lose weakens the Yen.
Silver Price Forecast: XAG/USD corrects below $34.50 as US Yields surge
Silver price (XAG/USD) corrects sharply below $34.50 in Wednesday's New York session after registering a fresh more than 12-year high slightly below $35.00 on Tuesday.
EUR/GBP Price Forecast: Reaches major support level at historic lows
EUR/GBP has fallen to a key support line at the level of the October 1 and 18 lows, in a zone between 0.8295 - 0.8310.
USD/CHF Price Prediction: Extends uptrend towards 100-day SMA
USD/CHF extends its uptrend from the late September lows and approaches resistance at the 100-day Simple Moving Average (SMA), currently situated at 0.8697.
GBP/USD: Needs a firmer close to improve - Scotiabank
The Pound Sterling (GBP) is holding up relatively well against the stronger USD, trading little changed on the session, Scotiabank's Chief FX Strategist Shaun Osborne notes.
GBP/JPY rises over 1.0% as political instability weighs on the Yen
The GBP/JPY is trading over 1.0% higher on Wednesday in the 198.30s.
EUR/USD: Looks technically oversold on the charts - Scotiabank
The Euro (EUR) looks quite soft below 1.08, pressured by broader USD gains on the one hand and simmering speculation that the ECB could cut rates aggressively in December, Scotiabank's Chief FX Strategist Shaun Osborne notes.
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