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NZD/USD gathers strength above 0.6050 amid concerns over Fed independence
The NZD/USD pair gains ground for the fourth consecutive day near 0.6065 during the early Asian session on Friday. The uptick of the pair is bolstered by a weakening Greenback amid renewed concerns over the US Federal Reserve's (Fed) independence.
USD/CAD posts modest losses below 1.3650 ahead of US PCE, Canadian GDP releases
The USD/CAD pair trades with mild losses near 1.3640 during the early Asian session on Friday. The US Dollar (USD) weakens against the Canadian Dollar (CAD) amid growing market concerns about the Federal Reserve's (Fed) independence.
Japan's Tokyo CPI inflation eases to 3.1% YoY in June
The headline Tokyo Consumer Price Index (CPI) for June rose 3.1% YoY as compared to 3.4% in the previous month, the Statistics Bureau of Japan showed on Friday.
Fed's Kashkari: Inflation is above 2%, have to get it back to target
Federal Reserve Bank of Minneapolis President Neel Kashkari said late Thursday that inflation is above 2% and it has to get it back to the 2% target.
GBP/USD continues its march up the charts for a fourth straight day
GBP/USD rose on Thursday, stepping into a fourth straight day of firm gains and clipping 44-month highs near 1.3770. A broad sell-off in the US Dollar is bolstering the Greenback's major counter-currencies, helping to push Cable into its highest bids in nearly four years.
US says it reaches understanding to expedite rare earth exports from China
A White House official stated late Thursday that the United States (US) has reached an understanding with China on how to expedite rare earth shipments to the US, according to the Wall Street Journal.
Silver Price Forecast: XAG/USD steadies near $36.60 up over 1.80% weekly
Silver price turns flat as Friday's Asian session begins, trades near $36.60, virtually unchanged, compared to Thursday's June 26 daily close. The XAG/USD appears poised to close the week with gains of over 1.80%.
France's Macron: If US 10% tariff stays, Europe will respond by imposing an equivalent on US firms
French President Emmanuel Macron said late Thursday that if the United States (US) 10% tariff stays, Europe will retaliate by imposing an equivalent levy on US companies.
EUR/USD hits 1.1744, nears four-year high as Fed cut bets grow, Trump eyes Powell successor
EUR/USD soars to nearly four-year highs on Thursday, extending its rally to five straight days, with the pair clearing the 1.1700 figure for the first time since September 2021.
Gold price stalls at $3,331 despite weak Dollar, strong US data caps gains
Gold price retreats on Thursday during the North American session, failing to gain traction amid a session characterized by a weak US Dollar, which is testing levels last seen in February 2022. The XAU/USD trades at $3,331 and prints modest losses of 0.05%.
Forex Today: US PCE readings gather all the attention
The Greenback retreated further and slipped back to levels last seen in March 2022 as fears over the Fed's independence weighed heavily on investors' sentiment while traders geared up for the release of extra inflation data on Friday.
Canadian Dollar gains ground on Thursday as Greenback weakens
The Canadian Dollar (CAD) found room on the high side on Thursday, rising into its highest bids in over a week against the US Dollar (USD) as global markets push away from the Greenback, giving counter-currencies a leg up across the board.
AUD/USD rises to YTD high as Trump pressures Powell to cut rates, US Dollar falls
The Australian Dollar (AUD) is extending its gains against the US Dollar (USD) and hit a year-to-date high as the greenback weakens and global risk appetite improves.
Banxico cuts rates by 50 basis points to 8% as expected
On Thursday, Banco de Mexico decided to reduce interest rates by 50 basis points, leaving the main interest rate near 8%. The decision was not unanimous, as the Deputy Governor, Jonathan Heath, voted to hold rates unchanged at 8.50%.
GBP/JPY holds near YTD highs as Bailey flags sticky inflation, BoJ remains cautious
The British Pound (GBP) strengthens modestly against the Japanese Yen (JPY) on Thursday, with the GBP/JPY pair trading near year-to-date highs. While gains are limited, the cross remains underpinned by a broadly bullish technical setup, keeping the uptrend intact.
Dow Jones Industrial Average floats higher on tepid Thursday
The Dow Jones Industrial Average (DJIA) rose to its highest figure in 16 weeks on Thursday, testing above 43,300 for the first time since late February.
WTI Crude Oil rebounds with Iran and supply concerns back in focus
West Texas Intermediate (WTI) is rebounding on Thursday after recent inventory data suggested that demand is continuing to outpace supply.
USD/CAD slides as Trump's criticism of Fed Chair Powell weighs on US Dollar
The Canadian Dollar (CAD) ticks higher against the US Dollar (USD) on Thursday, buoyed by broad-based Greenback weakness following fresh criticism of Federal Reserve (Fed) Chair Jerome Powell by the US President Donald Trump.
EUR/JPY steadies near 169.00 as traders await the next catalyst
The Euro (EUR) is experiencing a modest pullback against the Japanese Yen (JPY) on Thursday, after surging over 3% this month.
EUR/USD hits four-year high as Trump slams Powell, US data disappoints
The Euro (EUR) extends its winning streak against the US Dollar (USD) for a sixth consecutive day on Thursday, with EUR/USD soaring past the 1.1700 handle for the first time since September 2021, marking a nearly four-year high.
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