Last night the ECB raised interest rates by 25 basis points as expected, and the market raised bets that the central bank will raise rates by another 50 basis points, which boosted the euro and led to a big dive in the dollar index.
WCG Markets:2023-06-16
After reaching unprecedented levels last year, causing widespread poverty and rampant inflation in countries like Pakistan and Ghana, the USD has now entered a phase that some analysts predict will be a multi-year decline. Nevertheless, some experts still maintain that the US dollar's dominance hasn't diminished significantly.
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Giờ Bắc Kinh vào ngày 15 tháng 6 (thứ Năm) thị trường châu Á vào đầu phiên giao dịch, chỉ số đô la giảm nhẹ và hiện đang giao dịch gần 102,99.
Beijing time on June 15 (Thursday) Asian market in early trading, the dollar index fell slightly, and is currently trading near 102.99.
The Fed suspended its rate hike early Thursday morning as expected, but the dot plot hinted at 2 more rate hikes of 25 basis points each during the year, which was more hawkish than the market had expected.
Gold price remained in a bearish zone below the $2,000 level against the US Dollar. The price traded below the $1,980 support to move into a short-term bearish zone.
WCG Markets:2023-06-15
The Chinese government is presently exploring the possibility of implementing a significant stimulus initiative aimed at bolstering the nation's economy.
Argentine presidential candidate Javier Miley proposed replacing the national currency of the peso with the US dollar, hoping to limit the high inflation rate, which reached 109% in May. He believes that using the dollar can help to cope with the country's economic problems.
The USD/JPY currency pair has experienced a notable shift in market dynamics as the price line recently broke below a bullish channel that had been guiding its upward trajectory.
This attention of investors for this week attention is fixated on the actions of central banks, particularly the Federal Reserve and the European Central Bank (ECB).
NZD/USD was 0.17% higher at the time of writing after rising from a low of 0.6144 to a new high of 0.6161 in Tokyo market trading. The focus is on the Federal Reserve today following Tuesday's inflation report, which showed stable core inflation.
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If you feel like you’re on the brink of a bad economic situation, you’re not alone. A volatile job market, uncertainty in the economic situation, and rising interest rates are driving people crazy. However, despite all this, you still have to live your life. You can’t pause every time a Wall Street insider warns of the end -but you can be prepared. That’s where personal finance comes in—helping you manage your money and make wise decisions to keep your finances secure.
On Wednesday (June 14), spot gold rebounded slightly during the Asian session and is currently trading at $1947.33 per ounce.
WCG Markets:2023-06-14
More than 90% of economists said the Federal Open Market Committee would hold its federal funds rate at 5.00-5.25%.
The Federal Reserve interest rate decision is just one week away, and the price of the US Dollar Index (DXY) – which measures the value of the USD against a group of other currencies – is looking pretty neutral with a bit of a bullish leaning. So, things are looking okay for now – fingers crossed!