Key Takeaways: 📉 Most Asian currencies weakened as traders favored the dollar 📈 Australian dollar appreciated sharply after stronger-than-expected inflation reading 😞 Strong dollar and China trade war fears weighed on yuan 💵 Dollar index and futures near two-month highs, focus on PCE price index data 🇯🇵 Japanese yen close to intervention range, officials warn … Read more
Key Takeaways: 💵 U.S. dollar strengthened on hawkish Fed comments and stable economic data. 📈 Dollar rose against euro, yen, Swiss franc, and commodity currencies. 🏠 U.S. single-family home prices increased but consumer confidence slightly eased. 🌍 Currency market impacted by global events including French elections and U.S. presidential debate. 📉 Euro, yen, and Chinese … Read more
Key Takeaways: 💸 U.S. dollar rose against major currencies on hawkish Fed comments and positive economic data 📈 Dollar firmed against euro, yen, Swiss franc, sterling, and commodity currencies 🏡 Single-family home prices in the U.S. increased steadily in April 👩👦 Fed Governor Bowman reiterated willingness to raise borrowing costs if needed 💼 U.S. consumer … Read more
Key Takeaways 💰 The South African rand weakened as speculation about an imminent cabinet announcement grew 🔍 Investors are closely watching how power-sharing will be handled between the African National Congress and the Democratic Alliance 🕒 Expectations are high for a cabinet announcement within the next 24-36 hours 📰 Negotiations between the ANC and DA … Read more
Key Takeaways: 📉 Dollar eased slightly, staying above key 160 yen level due to fears of Japanese intervention 📉 Bitcoin recovered after worst day in over two months from ETF outflows 📊 Yen hemmed in after April-May currency intervention, sterling near 16-year high against yen 🇺🇸 U.S. personal consumption expenditures (PCE) price index to be … Read more
Key Takeaways: 💵 The US dollar remains the primary reserve currency globally 🌍 Dollar dominance is strengthened by the robust US economy and geopolitical risks 🤝 BRICS countries have not made progress on de-dollarization efforts 💱 China’s CIPS added 62 direct participants in 12 months, reaching 142 direct participants 📉 Share of renminbi in global … Read more
Key Takeaways 💱 Japanese authorities are monitoring excessive currency volatility 📉 Officials warn against wild swings in the yen as it weakens towards 160 per dollar 💼 Business and household demand negatively impacted by currency volatility 🏦 Currency rates need to be stable and reflect economic fundamentals 💰 Yen near a 34-year low prompts past … Read more
Key Takeaways: 💰 Dollar struggled to break above 160 yen due to fear of Japanese intervention 📉 Sterling near 16-year high at 202.33 yen 🔍 Market nervous about yen situation, risks for shorting yen as a carry trade 🇯🇵 Bank of Japan meeting outcomes disappointed investors 🇨🇳 China’s yuan weakened against the dollar near central … Read more
Key Takeaways: 💸 India’s digital currency, the e-rupee, has seen a significant drop in transactions from its initial peak. 📉 Daily transactions have fallen to about 100,000, indicating low organic demand for the e-rupee. 💳 Banks are helping boost transactions through disbursing benefits to employees via the e-rupee. 🌐 The Reserve Bank of India is … Read more
Key Takeaways: 💰 The Chinese yuan softened with USDCNY hitting a 7-month high 📉 Initial weakness in the yuan due to a weak midpoint fix by the People’s Bank 🌍 Concerns over a trade war with the West impacting sentiment towards China 🏗 PBOC may need to let the yuan depreciate in the near-term 🚘 … Read more