November Forex Market Analysis CURRENCIES: Australian Dollar Fundamental Backdrop: Mixed euro area data lacks clear guidance for future direction. German Ifo business climate report and ECB officials are key focal points. EUR/USD is in a consolidation phase, awaiting fundamental catalysts. …
CURRENCIES: Australian Dollar Fundamental Backdrop: RBA released minutes of the recent meeting with a 25bps hike. Surprising selloff in the Aussie Dollar post-hike. Hike aimed at lowering the risk of a “larger monetary policy response.” Inflation risks remain tilted toward …
CURRENCIES: Moderating Canadian Inflation Impact: Canadian inflation remains moderate but fails to deter CAD bulls. Recent CPI report and FOMC minutes didn’t sway the Canadian dollar from its 1.3700 base. Focus on US Economic Indicators: Attention shifts to US durable …
CURRENCIES: Currency Pair Movement: USD/CAD experiences a decline, currently trading close to 1.3710. Recent gains in USD/CAD are retraced during the Asian session on Tuesday. Crude Oil Impact: Improved Crude oil prices pose challenges for USD/CAD. Western Texas Intermediate (WTI) …
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