Welcome to the Artificial Intelligence Outlook for Forex trading. https://www.youtube.com/watch?v=PergQPnXd2o VIDEO TRANSCRIPT Okay, hello everyone, welcome back. My name is Greg Firman, and this is the Vantage Point AI Market ...
The dollar will likely continue flexing its muscles against its rivals as the recent explosive jump in Treasury yields could keep going as Federal Reserve speakers...
-- Most Asian currencies kept to a tight range on Monday, while the dollar steadied as a blowout nonfarm payrolls report saw traders sharply scale back expectations...
The Aussie continues to see a lot of noisy behavior, and as the jobs number came out on Friday, we have seen a lot of questions asked on where the global economy might be going.
The Aussie initially rallied a bit in the early hours of Friday, but then pulled back to show signs of “risk off” behavior in general. This is a market that will continue to be noisy but non-directional from what I see.
It's not just worries over jobs, the Federal Reserve and tech earnings. As if that wasn't enough, the Bank of Japan has helped spoil the party in the stock market—and not just in Tokyo. Japanese stocks plunged for two days after the country’s central bank took an unexpectedly hawkish turn on Wednesday.
The U.S. dollar fell in early European trade Friday after weak data fuelled fears of a sharp slowdown in the world's largest economy, potentially prompting the Federal Reserve to aggressively loosen monetary policy. Overnight, data showed U.S. manufacturing activity contracted at the fastest pace in eight months in July, while a gauge for employment fell sharply, raising the potential for a U.S. recession.
-- Most Asian currencies moved in a tight range on Friday as growing risk-aversion in global financial markets sparked some safe haven flows into the dollar, while markets awaited key nonfarm payrolls data for more cues.
-- The Reserve Bank of Australia is no longer expected to hike interest rates in 2024 following some signs of easing inflation in the second quarter, Rabobank analysts said, although chances of a rate cut remained slim.
The British pound extended losses after the Bank of England cut interest rates for the first time in more than four years. The BOE lowered its benchmark rate by a quarter-percentage point to 5%, leaving the Federal Reserve among a dwindling number of central banks yet to cut.