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    • Macroeconomics

    NZD/USD jumps to an eight-month high of over 0.6250 ahead of US GDP data release
    Washington

    NZD/USD jumps to an eight-month high of over 0.6250 ahead of US GDP data release

    NZD/USD is gaining strength in early Asian trading on Thursday, trading around 0.6280, up 0.57% on the day. New Zealand’s business confidence is rising to its highest level in a decade, giving the kiwi a boost, according to a recent…

    Posted on Madoc Meredith
    Dollar stable near 1.1150, while further rise in euro is difficult
    Washington

    Dollar stable near 1.1150, while further rise in euro is difficult

    The single European currency has retreated from highs of 1.12 and is struggling to stay above the 1.1150 mark as the recent upward momentum is already showing clear signs of fatigue since yesterday. Yesterday brought no surprises and the macroeconomic…

    Posted on Madoc Meredith
    USD/CAD holds position above 1.3500 near five-month low
    Washington

    USD/CAD holds position above 1.3500 near five-month low

    USD/CAD is struggling to hold its position after recovering from a five-month low of 1.3498 recorded on Monday. The US dollar lost value due to Fed Chairman Powell’s dovish speech at the Jackson Hole Symposium. The commodity-dependent CAD could rise…

    Posted on Madoc Meredith
    USD/CAD weakens near 1.3500 as Fed chief Powell signals rate cut for September
    Washington

    USD/CAD weakens near 1.3500 as Fed chief Powell signals rate cut for September

    USD/CAD remains on the defensive at 1.3510 in Monday’s Asian session. Powell’s dovish speech in Jackson Hole weighs on the US dollar. Canadian retail sales fell 0.3% MoM in June (vs. -0.8%), in line with market sentiment. The USD/CAD pair…

    Posted on Madoc Meredith
    EUR/USD rises to almost 1.1200 due to dovish Fed chief Powell
    Washington

    EUR/USD rises to almost 1.1200 due to dovish Fed chief Powell

    EUR/USD gains ground on rising expectations of a Fed rate cut in September. Fed Chairman Powell said at the Jackson Hole Symposium: “It is time to adjust policy.” ECB official Olli Rehn said the recent moderation in inflation strengthened the…

    Posted on Madoc Meredith
    California was sued twice after passing a corporate tax law that put billions at stake | Dan Walters | Dan-walters
    Idaho

    California was sued twice after passing a corporate tax law that put billions at stake | Dan Walters | Dan-walters

    During Jerry Brown’s first term as governor of California, he became embroiled in a highly complicated dispute over how the state should tax the income of multinational corporations. More than four decades later, the issue has resurfaced in a corporate…

    Posted on Madoc Meredith
    Euro shows signs of fatigue as it approaches new highs for 2024
    Washington

    Euro shows signs of fatigue as it approaches new highs for 2024

    The single European currency is just above the 1.11 mark and has reached new highs for 2024, boosted by a questionable environment for the US dollar ahead of the Fed’s first interest rate cut at its next meeting. The data…

    Posted on Madoc Meredith
    AUD/JPY extends losses to nearly 97.50 on BoJ’s hawkish stance and rising geopolitical tensions
    Washington

    AUD/JPY extends losses to nearly 97.50 on BoJ’s hawkish stance and rising geopolitical tensions

    AUD/JPY is losing ground due to more hawkish sentiment towards the BoJ. Safe-haven inflows amid rising geopolitical tensions are supporting the Japanese yen. The downside move in the currency pair could be limited due to the risk-on sentiment and the…

    Posted on Madoc Meredith
    Dollar stable near 1.1150, while further rise in euro is difficult
    Washington

    EUR/USD rises to near yearly high below 1.1050 on concrete prospects of Fed rate cut

    EUR/USD rose slightly to a yearly high of 1.1040 in the early European session on Monday. Dovish comments from the Fed and higher bets on a Fed rate cut in September continue to weaken the USD and lift EUR/USD. The…

    Posted on Madoc Meredith
    USD/CHF falls to almost 0.8650 due to dovish Fed and rising geopolitical tensions
    Washington

    USD/CHF falls to almost 0.8650 due to dovish Fed and rising geopolitical tensions

    The USD/CHF pair is extending losses as traders expect the Fed to begin cutting interest rates in September. San Francisco Fed President Mary Daly stressed that the U.S. central bank should gradually lower interest rates. Due to increasing geopolitical tensions…

    Posted on Madoc Meredith

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