EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 BTC 🔽 ETH 🔽 The US economy has shown remarkable resilience through robust data, with Nonfarm payrolls readings of 517,000, exceeding Mitrade's expectations of 185,000. As a result, investors are less worried about a recession than continuing rate hikes from the Federal Reserve. The greenback then...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔽 XAU 🔽 WTI 🔽 BTC 🔽 ETH 🔽 After posting better-than-expected revenue of $32.17 billion, followed by a $40 billion share buyback program, Meta Platforms (META) soared 23.28% - the highest daily gain in over two years. This fueled the tech-heavy Nasdaq 100 to jump 440 points (+3.56%) to 12,803. Meantime, Apple...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔽 BTC 🔼 ETH 🔼 Earlier today, the Federal Reserve raised the interest rate by 25 basis points to 4.75%, aligning with Mitrade's estimates. The expected slowdown in rate hikes, however, did not spell the end of tightening monetary policies in 2023. Despite acknowledging the disinflation, Fed Chair Jerome...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 BTC 🔽 ETH 🔽 After 11 consecutive months of rises, Australian retail sales in December decreased by 3.9% on the month, against Mitrade's estimates of -0.4%. It was likely caused by the unexpected rise in the inflation rate, which in turn sent AUD/USD losing 44 pips to 0.7059. The greenback...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔽 USD/JPY 🔽 XAU 🔽 WTI 🔽 BTC 🔼 ETH 🔼 The Federal Reserve interest rate decision will be announced on Wednesday, with Mitrade anticipating a 25 basis point increase. The US Dollar Index fell to a nine-month low of 101.56, currently at 101.95. USD/CAD dropped 11 pips to 1.3309, and USD/JPY traded below the 130.0 level to...
EUR/USD 🔽 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔽 WTI 🔽 BTC 🔽 ETH 🔽 Earlier today, 2.9% on-quarter growth in US gross domestic product exceeded Mitrade's expectations of 2.6%, increasing hopes for a soft landing to avoid a recession. Meanwhile, the greenback had a mixed performance against its peers. GBP/USD and AUD/USD traded slightly higher to 1.2406...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔼 USD/JPY 🔽 XAU 🔼 WTI 🔽 BTC 🔼 ETH 🔼 During the Lunar New Year, market anticipation for smaller US rate hikes increased, weakening the greenback against other major currencies. EUR/USD added over 20 pips to 1.0915, and GBP/USD rose to 1.2400. AUD/USD climbed above the 0.7000 level, closing at 0.7106. Last night, the Bank of...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔽 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 BTC 🔼 ETH 🔼 Japanese year-on-year core CPI readings just rose to 4.0%, meeting market estimates, while also reachings levels not seen since 1981. Such a result would likely lead to further tightening from the Bank of Japan, USD/JPY fell 46 pips to 128.42, and USD/JPY declined 45 pips to 128.42....
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 A series of US economic data have pointed to a slowing economy, including a 1.1% drop in retail sales and a 0.7% decrease in month-on-month industrial production. Investors then raised concerns about a recession, with the stock market dipping. The Dow plunged 613 points (-1.81%) to 33,296, the S&P...
EUR/USD 🔽 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔽 WTI 🔼 December’s readings for Canadian and German inflation have slowed, with Germany’s year-on-year inflation decreasing from 10.0% to 8.6%, and Canada’s month-on-month inflation turning negative from 0.1% to -0.3%. Later today, Mitrade expects the UK year-on-year inflation rate to come down from 10.7% to...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 After several sluggish sessions, the US dollar recovered against other major currencies. USD/CAD closed 11 pips higher at 1.3407, and USD/JPY increased 66 pips to 128.54. Meanwhile, the US stock market was closed. EUR/USD and AUD/USD declined over 10 pips to close at 1.0816 and 0.6954 respectively,...
EUR/USD 🔽 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 As the Bank of Japan loosened bond yield control last year, Mitrade anticipated further tightening from the central bank, including a possible rate hike on Wednesday. Meanwhile, USD/JPY plunged over 140 pips to 127.88, and USD/CAD increased to 1.3396. EUR/USD rebounded from 1.0793 to close at 1.0828...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 The US month-on-month inflation rate turned negative at -0.1% in December, while the year-on-year reading remained at 6.5%. As a result, Mitrade now expects a 25 basis points Fed rate hike in February is more likely. Less tightening spells good news for the stock market. The Dow increased 216 points...
EUR/USD 🔼 GBP/USD 🔽 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔽 WTI 🔼 Later tonight, Mitrade expects the US year-on-year inflation rate will decrease from 7.1% to 6.5%, giving more leeway for the Federal Reserve to use smaller rate hikes to combat inflation. Meanwhile, the greenback did not show any significant weakness, though EUR/USD steadily climbed to a seven-month...
EUR/USD 🔼 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔼 WTI 🔼 The latest quarterly inflation reading in Australia shows a minor uptick at 7.3%, which Mitrade expects the Reserve Bank of Australia could increase rate hikes. On the other hand, Australian retail sales in November rose from 0.4% to 1.4%. AUD/USD was down over 20 pips to 0.6887. EUR/USD had minor...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 Major currencies continued their rally against the US dollar. EUR/USD rose to a 7-month high of 1.0759, then closed at 1.0728. GBP/USD added over 80 pips to 1.2183, and AUD/USD has modest gains at 0.6911. Inflation in Tokyo climbed to 4% in December, the highest level in four decades. Meanwhile,...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 After numerous rounds of voting, the US Congress finally elected a speaker. Meanwhile, the Nonfarm Payrolls reading for December was 223,000. The number was slightly higher than Mitrade's estimate of 220,000, but the steady decline in recent months is indicative of a slowed economy. Thus, investors...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔼 On Orthodox Christmas Day, Russia offered a 36-hour ceasefire with Ukraine. In response, Ukraine rejected the offer, claiming it only served Russia as breathing space and a propaganda tool. Meanwhile, western allies have agreed to provide military vehicles to Ukraine, boosting its offensive...