China's weak domestic economy constrains yuan upside China's economy grew at a rate of 4.3% over the past three months, the slowest pace ever recorded outside of the pandemic. The reported GDP growth was another 0.2 percentage points lower than consensus expectations.
US Dollar weakens after June CPI data shows inflation cooling, reducing expectations for Federal Reserve rate hikes in 2024. The USD/JPY pair fell to 162.20 in European trading on Wednesday, pressured by a weaker US Dollar as traders scaled back bets on Federal Reserve rat
The Canadian Dollar strengthens ahead of the Bank of Canada's rate decision, with USD/CAD falling to 1.4050 amid Fed rate hike expectations. The USD/CAD pair retreated to 1.4050 in early European trading on Wednesday, as the Canadian Dollar gained ground ahead of the Bank
Traders trim bets on a July Fed rate increase after June CPI data undershoots expectations, lifting the Canadian dollar ahead of the BoC decision. The USD/CAD pair retreated to 1.4050 in early European trading Wednesday as softer US inflation data reduced expectations for
Expiries at 1.1400 for EUR/USD and 162.00 for USD/JPY may limit volatility amid shifting dollar sentiment and intervention risks. EUR/USD options totaling 1.1400 expire today, with the dollar under slight pressure following softer US CPI data. However, rising oil prices an
Traders increase expectations for ECB tightening after oil prices climb, pushing the euro higher against the pound. The EUR/GBP cross climbed to 0.8535 in early European trading on Wednesday, driven by rising bets on European Central Bank rate hikes. Surging oil prices hav
Weaker USD and softer CPI data fail to lift gold, as Fed signals potential year-end rate hike amid inflation concerns. Gold (XAU/USD) trades with modest losses in Asian hours, remaining above the $4,000 mark despite a weaker US Dollar. The decline follows softer US Consume
June US inflation data meeting expectations weakens the Dollar Index, boosting major currencies against the greenback. The Dollar Index fell to 100.40 following the release of June US Consumer Price Index data, which aligned with market expectations. The softer inflation p
AUD/JPY trades near 113.25 The AUD/JPY cross is in positive territory around 113.25. The Japanese Yen edges lower against the Australian Dollar after reports regarding the Government Pension Investment Fund. This movement indicates a bullish trend above the
The cross climbs to 113.25 as traders weigh potential Japanese pension fund shifts and intervention risks amid a bullish technical setup. The AUD/JPY pair rose to 113.25 in early European trading, extending gains as the Japanese Yen weakened on reports that the Government
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