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The dollar index eased to around 103.2 on Friday but was still on track to advance for the fifth straight week, as minutes of the Federal Reserve’s July meeting showed that policymakers stressed that upside risks to inflation remain, leaving the door open to further policy tightening. However, some participants flagged the economic risks of pushing rates too far,...

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The recent decline in the value of the Japanese yen against the US dollar was halted at around 142.5 to the dollar as investors continued to assess the impact of the Bank of Japan's policy adjustment after it loosened its grip on interest rates and allowed the yield on 10-year Japanese government bonds to climb above the upper limit of 0.5%. Recently, the Bank of...

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The Euro dropped to approximately $1.09 at the start of August, its lowest level in four weeks. This was because of the strength of the US dollar, which was fueled by statistics pointing to a robust US economy and by a rise in risk aversion after Fitch downgraded the US credit rating from AAA to AA+. Recent PMI data suggested that the services sector was slowing...

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By Taylor Norboge on 13:02:42 (UTC) Fri, 4 Aug 2023 09:03:09 est On Friday, the dollar index fell even lower, falling below 102.2 for the second consecutive trading session as reports indicated that the economy of the United States was slowing. In July, nonfarm payrolls increased by 187 thousand, which was less than the growth of 200 thousand that was anticipated...

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As investors assessed the outlook for monetary policy and recent economic data, the euro nudged up marginally to $1.1 per euro. According to preliminary CPI data, the Eurozone's headline inflation rate dropped to 5.3%, the lowest level since January 2022, while the core inflation rate remained unchanged at 5.5%, still beyond the ECB's target of 2%. The economy...

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As investors considered the most recent round of company earnings and economic data, the Dow Jones finished 176 points higher on Friday, while the S&P 500 and the Nasdaq each gained 1% and 1.9%, respectively. There is optimism that the Fed is getting closer to ending its tightening campaign because the PCE inflation slowed further in June and recent GDP statistics...

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The Kiwi dollar dropped 0.3% to approximately $0.6156 on Friday, declining for the third consecutive session and on track for a 0.2% decrease for the week. This was due to the strengthening of the US dollar, which saw the index rise above 101, following the release of robust US Q2 GDP data. Meanwhile, the headline inflation in New Zealand dropped to 6% in Q2 of...

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The Loonie lost ground, falling below 1.32 against the Greenback, after reaching a 10-month high of 1.31 on July 13th. This drop was triggered by the latest CPI figures, which indicated a significant deceleration in Canadian inflation. Consumer prices increased by 2.8% from the prior year in June, marking the lowest rate in over two years and falling below market...

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On Friday, the Japanese yen stabilized at 139 per dollar after trading in a broad range between 141 and 138, as the Bank of Japan maintained its ultra-low interest rate policy but tweaked its phrasing to make its yield curve management policy more flexible. During its July meeting, the BOJ maintained its short-term interest rate objective of -0.1% and its 10-year...

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The euro fell to $1.01, its lowest level since July 6, as investors believed that the European Central Bank's tightening cycle was coming to an end. The European Central Bank hiked interest rates for the ninth time in a row, sending borrowing prices to multi-year highs, and deleted a reference to rates needing to be "brought" to a restrictive level. Furthermore,...

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The Canadian dollar strengthened to around 1.31 per USD mark, the strongest since September last year, after the Bank of Canada delivered another 25bps increase in interest rates as expected and reinforced its commitment to restore price stability. The central bank also revised higher its growth forecast for this year to 1.8% from 1.4% and pushed back its...

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The Canadian dollar appreciated past 1.32 per USD in mid-June, its strongest in nine months, as weakness in the greenback coincided with a hawkish outlook for the Bank of Canada. In its last meeting, the domestic central bank surprised markets and raised its key interest rate by 25bps. The decision marked the resumption of the BoC’s tightening cycle after two...

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Good morning! Let's take a look at today's financial news. European shares rebounded yesterday, with bank shares leading the way, after authorities and regulators took action to ease concerns about the global banking industry. The US banking system was also affirmed to be "sound and resilient" by the US Financial Stability Oversight Council ....

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On Thursday, the Japanese stock market experienced a decline as the Nikkei 225 Index fell by 0.17% to close at 27,420 points, and the broader Topix Index dropped by 0.29% to 1,957 points. This reversal was due to Wall Street's negative trend, following the Federal Reserve's decision to raise interest rates by 25 basis points. The Fed Chair Jerome Powell indicated...

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US stock futures declined on Wednesday by about 0.1% after the previous day's market rally, in which all three major indexes finished higher. Dow rose by 1.06%, S&P 500 jumped by 1.65%, and the Nasdaq Composite rallied by 2.14%. The banking sector staged a comeback rally as investors shrugged off fears of a systemic risk. Investors look forward to retail sales and...

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WTI Crude Futures Rebound, Brent Crude Futures Rise On Wednesday, Brent crude futures rose above $78 per barrel, rebounding from three-month lows as OPEC raised its forecast for Chinese oil demand growth in 2023 due to the country's exit from the zero-Covid policy. However, the group left its outlook for global demand unchanged, citing potential downside risks for...

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Weaker dollar due to uncertainties about Federal Reserve policy and US banking sector On Wednesday, the dollar index was trading around 103.5, which is near its lowest levels in a month. This happened because investors are unsure about the outlook for Federal Reserve monetary policy. They are also worried about recent turmoil in the US banking sector and the...

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The Euro continued its upward momentum, trading above $1.07 and approaching its highest level since February 14th. This is in contrast to the two-month low of $1.05 it reached on March 8th, which was due to concerns about the US financial system following the collapse of SVB. Despite US authorities' efforts to limit the damage, investors are concerned that the...