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WTI Oil sell-off persisted on Thursday, posting 3% losses in two trading days.  Oil prices broke below the pivotal $83.34 level, heading to $80.63 next. The US Dollar Index slides below 106.00 after a slew of central bankers are pushing against a stronger Greenback. Oil prices retreat further on Thursday, extending the decline triggered on…

USD/CAD has pulled back after rallying strongly at the start of April.  US-Dollar strength drove the pair higher on the back of shifting monetary policy expectations. The Canadian Dollar weakened on the back of falling Oil prices, expected cuts to interest rates.  USD/CAD is trading in the 1.3750s on Thursday, down roughly a tenth of…

Analysts at TD Securities don’t think that the latest employment data from Australia will bring the Reserve Bank of Australia (RBA) closer to lowering its policy rate. Australian labour market remains tight with “Australian headline employment fell 6.6k in March, softer than the +10k consensus and TD’s +18k f/c. Given the significant increase in jobs…

The Mexican Peso consolidates after strengthening temporarily on Banxico Heath’s comments.  USD/MXN forms a bullish Pennant price pattern on the 4-hour chart.  The economic growth outlook for Mexico gets downgraded.  The Mexican Peso (MXN) traces a flat line on most charts on Thursday, as traders digest the previous day’s gains prompted by comments from Banxico…

USD/CHF drops below 0.9100, dragged by a correction in the US Dollar. The US Dollar drops as traders reprice the interest rate outlook of other central banks. The SNB could cut interest rates further amid easing price pressures. The USD/CHF pair falls below the round-level support of 0.9100 in Thursday’s European session. The Swiss Franc…

Analysts at Rabobank share a brief outlook for the USD/JPY pair. BoJ may be able to hike rates again later this year “Current USD strength is built around the expectation that Fed rates will stay stronger for longer. The greenback has also likely been boosted by safe-haven demand stemming from fears of an escalation of…

The US Dollar eases on concerns that the current elevated position against other peers is unsustainable. Several tailwinds are emerging on the US Dollar from central banks of Europe and Asia. The US Dollar Index deepens losses in its turnaround since Wednesday and snaps below 106.00. The US Dollar Index (DXY), which tracks the US…

USD/JPY finds buying interest near 154.00 as investors see Japan’s intervention mere a temporary solution to support weak Japanese Yen. Japan’s National CPI data will impact market expectations for BoJ’s rate hikes. The US Dollar corrects despite the Fed is expected to keep interest rates higher for a longer period. The USD/JPY pair recovered intraday…

Gold price exhibits strength as geopolitical tensions keep safe-have demand firm. The US Dollar corrects amid fears that inflation will remain stubborn in other developed nations. Fed Mester is confident about policy normalisation but cautioned that it should not be done in a hurry. Gold price (XAU/USD) rebounds to $2,380 in Thursday’s European session after…

The Rabobank Research Team provided insights on Australia’s employment data for March and its implications on the Reserve Bank of Australia’s (RBA) interest rate outlook. Key quotes “Aussie labor market data released earlier today saw some mean-reversion in the headline employment figures.” “According to the ABS, Australia shed 6,600 jobs in March after gaining 117,600 in…