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Morning briefing: Euro faces the first hurdle at 1.0900
Good Morning! The US Treasury yields have tumbled after the inflation data release yesterday. The US Headline CPI came in at 3.36% (YoY) for April, down from 3.48% in March. The Core CPI fell to 3.62% (YoY) from 3.8% over the same period. If the yields sustain lower, they can fall more from here. Th
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USD/NOK continues losing ground after US PPI, CPI data looms
Jerome Powell stated on Tuesday that his confidence in inflation coming down is lower. The US reported that April’s PPI aligned with expectations. April’s CPI and Retail Sales will define the outlook of the USD. The USD/NOK pair is trading lower on Tuesday. Overall, the USD strength persists despite
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Fed's Logan: Too early to think about cutting rates
On Friday, Dallas Federal Reserve President Lorie Logan remarked that there are "uncertainties" regarding whether monetary policy is adequately restrictive to lower inflation to the Fed's target, emphasizing that it is "premature" to consider interest rate cuts at this stage. Key Takeaways We've mad
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WTI gains ground above $79.20 amid rising demand optimism in China
WTI prices gain momentum to one-week highs near $79.30 on Friday. Rising demand optimism in China and the ongoing Middle East geopolitical tensions lift WTI prices. The Fed’s hawkish stance might limit the upside of USD-denominated oil. Western Texas Intermediate (WTI), the US crude oil benchmark, i
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Malaysia Bourse: Strong Support At 1,600 Points
The Malaysia stock market has moved lower in back-to-back sessions, slipping almost 5 points or 0.3 percent in that span. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it may stop the bleeding on Friday. The global forecast is upbeat on an improving outlook fo
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EUR/USD: Calm agenda with small gains for dollar, with the 1.0700 likely to be come under challenge
The single european curency continues to be under mild pressure with the 1,07 level the next challenge for the exchange rate on a relatively quiet economic agenda with no major macroeconomic announcements. As expected, yesterday did not provide any surprises and the exchange rate remained in an extr
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Australia Building Permits Climb 1.9% In March
The total number of building permits issued in Australia was up a seasonally adjusted 1.9 percent on month in March, the Australian Bureau of Statistics said on Thursday - coming in at 12,947. That was in line with expectations following the 0.9 percent decline in February. Private house approvals g
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Gold Price Forecast: XAU/USD strives for direction as uncertainty over Fed rate cuts deepen
Gold price is slightly up near $2,315 even though the US Dollar recovers sharply. Worsening Middle East tensions keep the downside in the Gold price supported. The US Dollar recovers after Fed Kashkari’s hawkish guidance on interest rates. Gold price (XAU/USD) struggles for a direction in Wednesday’
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EUR/USD edges lower to near 1.0750 after hawkish remarks from a Fed official
EUR/USD continues to lose ground due to the hawkish sentiment of the Fed prolonging elevated policy rates. Fed’s Kashkari said that the most likely scenario is for interest rates to stay unchanged for an extended period. Eurozone Retail Sales marked the most significant increase in March since Septe
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