On Thursday, the USD/CHF lost ground as the USD seemed to be consolidating gains. The USD DXY index rose to its highest level since January at 103.60,
FOMC minutes from the July meeting left the door open for another hike.lost ground as the USD seemed to be consolidating gains. The USD DXY index rose to its highest level since January at 103.60, mainly driven by hawkish bets on the Federal Reserve and rising US yields. On the CHF’s side, investors await Friday’s Industrial Production figures from Q2.
The strength of the USD is propelled by the rising US yields due to investors betting on the Fed hiking at least once more in this cycle. The US 10-year bond yield surged to its highest level since October 2022, standing at 4.28%, and the 2 and 5-year yields have also experienced upward movements, hitting monthly peaks of 4.95% and 4.40%, respectively.
In line with that, the Federal Open Market Committee minutes showed that members are concerned with a hot labour market threatening inflation, leaving the door open to another hike. That said, the Jobless Claims for the second week of August from the US rose to 239,000 compared to the projected 240,000, marking a decline from the preceding weekly figure of 250,000.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Streaming Currency Exchange Rates - Investing.comStreaming forex rates quotes on EUR/USD, GBP/USD, USD/JPY,USD/CHF, AUD/USD, as well as on many currency crosses.
Read more »
Bitcoin & Ethereum Hold Ground Ahead of US CPI: BTC/USD & ETH/USD Price SetupsRealized volatility may have fallen recently in Bitcoin and Ethereum but it hasn’t altered the broader trend. What is the outlook and the key levels to watch in BTC/USD and ETH/USD?
Read more »
EUR/USD slips further from 1.0900 amid risk-aversion, strong USDEUR/USD registers modest losses for the fifth straight day, widening its distance from the 1.0900 figure amid a risk-off impulse spurred by the Federa
Read more »
The Mystery of Bearish Engulfings: Do they Reliably Predict Forex Price Reversals?An analysis of 37,000 candles was conducted across major currency pairs (EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD), identifying 200 valid Bearish Engulfings. What is the verdict?
Read more »
GBP/USD IG Client Sentiment: Our data shows traders are now net-short GBP/USD for the first time since Aug 01, 2023 when GBP/USD traded near 1.28.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bullish contrarian trading bias.
Read more »
Finance Minister Suzuki Sticks to Script as EUR/JPY, USD/JPY Advanceapanese Finance Minister Suzuki sounded more like a record on repeat with comments around FX intervention this morning. The comments came on the back of a 3rd straight quarter of expansion.
Read more »