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Spanish CPI lower than expected at 3.1% Chicago PMI expected to decelerate to 51.0 The euro is calm in Friday trade. In the European session, EUR/USD is trading at 1.1053, down 0.08%. Spanish CPI dips to 3.1% Spain released the December inflation report today, with CPI dipping to 3.1% y/y, down from 3.2% in November.

Ultimately, the gold market’s recent performance has demonstrated signs of a breakout, with expectations of further upward movement.  The gold market displayed an initial attempt at a rally during Thursday’s trading session but subsequently retreated, indicating a degree of caution as it approached the $2,075 level. Nonetheless, this represents a breakout from previous levels, and

Japanese Yen is poised to be December’s best performer in the currency markets. Its strength is primarily driven by growing expectations that BoJ will eventually exit its long-standing negative interest rate policy in 2024. Yen’s performance is particularly noteworthy against Dollar (USD/JPY) and Sterling (GBP/JPY), both of which are top movers for the month, with

AUDUSD reversed from resistance level 0.6865 Likely to fall to support level 0.6800 AUDUSD currency pair recently reversed down from the major resistance level 0.6865 (which has been reversing the pair from June). The resistance level 0.6865 was further strengthened by the nearby upper daily Bollinger Band. Given the strength of the resistance level 0.6865

Home Banking Fintech Removes FX Friction: Q&A With Corpay Cross-Border Solutions’ Mark Frey Mark Frey, group president of Corpay Cross-Border Solutions, explains the fintech advantage in powering global payments while limiting FX exposure. Global Finance: Why form strategic relationships with technology partners? Mark Frey: We have several technology partners across our business, some of which

Today US Treasury yields turned higher after being on a steep bearish trend since late October. However, the US currency has been finding it hard to maintain the gains it made earlier in the day as cash flows continue to dominate financial markets as we approach the end of the year. Source link

Crude oil has been sliding for a few months, with highs decreasing and moving averages acting as resistance. The decline continued and WTI crude fell below $68. However, buyers have returned, and we have been seeing considerable buying pressure in the last two weeks, pushing the price above $76 yesterday. Source link

USD/JPY has been on a bearish trend since the middle of November and bears remain in control, selling every bounce. The reason for this decline has been the dovish reversal from the FED and the mention of rate cuts next year, with markets expecting them to ease interest rates by around 160 bps. Today this

The Chinese governmental authorities have decided to crackdown on the use of cryptocurrencies in illegal foreign exchange trading. On Wednesday, December 27, 2023, the Supreme People’s Procuratorate and State Administration of Foreign Exchange directed prosecutors and forex regulators to supervise foreign exchange activities stringently. The focus is on cases where the Tether (USDT) is used

US goods export fell -3.6% mom to USD 165.1B in November. Goods imports fell -2.1% mom to USD 255.4B. Goods trade deficit widened from USD -89.6B to USD -90.3B, slightly larger than expectation of USD -89.5B. Wholesale inventories fell -0.2% mom to USD 895.7B. Retail inventories fell -0.1% mom to USD 794.9B. Full US goods

ECB Governing Council member Robert Holzmann emphasized there should be no presumption of rate reductions in the coming year. Holzmann stated, “Even if the ECB is past an unprecedented series of ten consecutive rate increases, there is also for the year 2024 no guarantee of rate reductions.” Further reinforcing this cautious approach, Holzmann remarked on