USD/CAD gains ground for the third consecutive day, trading around 1.4060 during European hours on Wednesday. The Bank of Canada (BoC) is expected to deliver a 25-basis-point interest rate hike later in the day. The technical analysis of the daily…
"GBP/USD faces a difficult balancing act today as the UK Autumn Budget and FOMC decision put fiscal credibility and monetary policy divergence under scrutiny." "The FOMC is widely expected to leave rates unchanged while keeping the door open to…
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, eases from a nearly two-week high, touched earlier this Wednesday, as bulls turn cautious ahead of the crucial FOMC decision.
The Australian Dollar (AUD) trades sharply higher against its major currency peers on Wednesday. Against the US Dollar (USD), the antipodean is up 0.15% to near 0.7035 even after giving back some of its early losses. The table below shows the percentage…
Commerzbank’s Norman Liebke notes that the Reserve Bank of New Zealand (RBNZ) surprised markets by holding at 2.75%, even as it signalled further hikes will likely be needed. He sees limited medium-term upside for NZD, arguing market pricing of around four…
EUR/CAD inches higher after six days of losses, trading around 1.5640 during European hours on Wednesday. The currency cross moved little ahead of the Bank of Canada’s (BoC) policy decision scheduled for later in the day, with financial markets largely…
The Euro (EUR) is drawing some support from a softer British Pound (GBP) on Wednesday, as markets brace for the release of the first budget of Prime Minister Andy Burnham’s cabinet. The EUR/GBP pair has ticked up to session…
Fears of an AI bust have receded slightly, and the AI story has been helped overnight by impressive 3Q results from Korean chipmaker SK Hynix. This has allowed the market to focus on the core story of resilient growth, high inflation…
The Bank of Canada also holds a policy meeting today. A 0.25% increase to 2.50% is expected, although last week’s softer underlying inflation leaves scope for another surprise. After this morning’s RBNZ decision, traders should be especially careful about treating a strongly…
The New Zealand Dollar (NZD) trades sharply lower against its major currency peers on Wednesday. Against the US Dollar (USD), the kiwi dollar is down 1.28% to near 0.5600. The table below shows the percentage change of New Zealand Dollar (NZD) against…
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