Japanese Yen and Australian Dollar News: BoJ and RBA Governors in the Spotlight
USD/JPY targets 154-156 amid BoJ policy speculation, while AUD/USD faces volatility on RBA inflation risks and Fed rate path expectations.
Wed, 20 Nov 2024 19:43:33 -0500
ECB's Stournaras: 2% inflation target to come in early 2025
The European Central Bank (ECB) Governing Council member Yannis Stournaras said on Wednesday that the Eurozone is on the cusp of sustainably reaching 2% inflation, putting the onus on officials to avoid undershooting that goal, per Bloomberg.
Wed, 20 Nov 2024 19:33:10 -0500
BoE's Ramsden supports gradual rate cuts, but highlights inflation undershooting risks
BoE Deputy Governor Dave Ramsden expressed support for the MPC's cautious approach to easing interest rates, citing economic uncertainties tied to recent fiscal measures and labor market data. Ramsden emphasized the need for a “watchful and responsive” strategy given lingering questions about the effects of higher employer taxes and potential misrepresentations in labor statistics.
Wed, 20 Nov 2024 19:30:40 -0500
Fed's Collins says more rate cuts are needed
Federal Reserve Bank of Boston President Susan Collins said on Wednesday that more interest-rate cuts are needed, but policymakers should proceed carefully to avoid moving too quickly or too slowly, per Bloomberg.
Wed, 20 Nov 2024 19:21:37 -0500
ECB's Stournaras: Avoiding inflation undershoot becoming policy priority
Greek ECB Governing Council member Yannis Stournaras emphasized at an event overnight that inflation in Eurozone is now projected to reach the 2% target “sooner than earlier expectations,” likely by early 2025 rather than the fourth quarter as previously anticipated. This shift suggests the ECB's policy focus may increasingly pivot to ensuring “we don't undershoot our inflation objective”.
Wed, 20 Nov 2024 19:18:32 -0500
Natural Gas Wave Analysis
Natural gas continues to rise strongly after the earlier breakout of the key multi-month resistance level 3.150, reversing the price from May.
Wed, 20 Nov 2024 18:58:05 -0500
New Zealand Treasury plans to cut economic and fiscal forecasts
Reports out of New Zealand today that New Zealand Treasury plans to revise economic and fiscal forecasts due to a sustained slowdown in productivity.
Wed, 20 Nov 2024 17:47:29 -0500
Canadian Dollar ends win streak before it can fully begin
The Canadian Dollar (CAD) is back to its losing ways, backsliding 0.1% against the Greenback on Wednesday. The Loonie has ended it's near-term bullish recovery against the safe haven US Dollar during the midweek market session as the economic calendar remains low-impact on both sides of the USD/CAD pair.
Wed, 20 Nov 2024 17:03:02 -0500
Natural Gas Price Forecast: Surges Past Key Levels, Eyeing Higher Targets
Natural gas confirmed a decisive breakout above 3.02 and 3.16, indicating strong bullish momentum with next resistance levels at 3.35–3.45.
Wed, 20 Nov 2024 16:40:49 -0500
Forexlive Americas FX news wrap 20 Nov: Fed's Bowman more hawkish. 20 year auction ugly.
The economic calendar was void of any economic releases today. However, there was two Fed Governors who spoke.
Wed, 20 Nov 2024 16:10:41 -0500
The Fed, ECB, and More Explained: Central Bank FAQs for Forex Traders
Learn how the Fed, ECB, and BOJ impact forex markets. Get answers to FAQs on interest rates, currency trends, and trading strategies in this must-read guide.
Wed, 20 Nov 2024 15:12:00 -0500
Australian Dollar pulls back from weekly high as USD rebounds
The AUD/USD declined by 0.64% to 0.6495 on Wednesday. The decline came after the pair touched a one-week high earlier in the session.
Wed, 20 Nov 2024 14:51:23 -0500
Crude oil futures settled at $68.87
Crude oil futures are settling at $68.87. That is down $0.52 or -0.75%.
Wed, 20 Nov 2024 14:37:38 -0500
US Dollar rebounds near yearly highs on quiet session
The US Dollar Index (DXY), which measures the value of the USD against a basket of currencies, has traded with solid gains, rising to 106.70. The DXY's upward trajectory is driven by factors such as recent strong economic data, rising yields, and a less dovish stance from the Federal Reserve (Fed).
Wed, 20 Nov 2024 14:04:57 -0500
Argentina Trade Balance (MoM) came in at $981M below forecasts ($1137M) in October
Argentina Trade Balance (MoM) came in at $981M below forecasts ($1137M) in October
Wed, 20 Nov 2024 14:00:52 -0500
U.K. Inflation Unexpectedly Rises to 2.3% in October
The U.K. Consumer Price Index (CPI) increased to 2.3% year-over-year in October, surpassing expectations of 2.2% and rising from 1.7% in September.
Wed, 20 Nov 2024 13:20:00 -0500
Mexican Peso weakens amid geopolitical tensions, dovish Banxico comments
The Mexican Peso erased some of Tuesday's gains versus the Greenback as geopolitical risks continued to drive the financial markets amid a possible escalation of the Russia-Ukraine conflict. Additionally, Bank of Mexico (Banxico) Governor Rodriguez's dovish remarks alongside the ongoing economic slowdown in Mexico hurt the prospects of the emerging market currency.
Wed, 20 Nov 2024 13:16:12 -0500
United States 20-Year Bond Auction climbed from previous 4.59% to 4.68%
United States 20-Year Bond Auction climbed from previous 4.59% to 4.68%
Wed, 20 Nov 2024 13:02:59 -0500
Natural Gas, WTI Oil, Brent Oil Forecasts – Cold Weather Lifts Gas, Oil Faces Pressure
Heating demand spikes as colder weather sweeps across the U.S., driving natural gas futures to a five-month high. Will bullish momentum continue?
Wed, 20 Nov 2024 13:00:27 -0500
Fed's Bowman: Progress on inflation appears to have stalled
Federal Reserve (Fed) Board of Governors member Michelle Bowman hit newswires on Wednesday, cautioning that it appears the Fed's progress on taming inflation may have hit a snag.
Wed, 20 Nov 2024 12:49:54 -0500