WTI snaps the three-day winning streak near $85.00 on Friday. Israel retaliates as missiles strike a site in Iran, boosting the black gold price. The expectation that the US Fed will delay interest rate cuts to September might cap the WTI’s upside. Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $85.00 on Friday. The black gold gains traction on the day amid the escalating tension between Israel and Iran after a US official confirmed that Israeli missiles had hit a site in Iran. On Friday, ABC News reported that explosions were heard at an airport in the Irani ..read more

USD/JPY faces some selling pressure near 154.15 in Friday’s early Asian session.  The escalating geopolitical tension in the Middle East and Asia boosts the safe-haven JPY.  Investors raise their bets that the US Fed will delay interest rate cuts to September. The USD/JPY pair attracts some sellers around 154.15 on Friday during the early Asian trading hours. The risk-off mood and rising tension between Israel and Iran boost the safe-haven flows, benefiting the Japanese Yen (JPY). However, the robust US economic data and any hawkish comments from the F ..read more

The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1046 as compared to the previous day’s of 7.1020. The post PBoC sets USD/CNY reference rate at 7.1046 vs 7.1020 previous first appeared on Online broker AMarkets ..read more

AUD/JPY depreciates after the release of Japan’s inflation figures released on Friday. The Japanese Yen gains support from the hawkish remarks made by BoJ Governor Kazuo Ueda on Thursday. The Australian Dollar loses ground as soft domestic jobs data reinforced a dovish outlook on RBA’s monetary policy. AUD/JPY continues to decline for the second consecutive session following the release of Japan’s inflation data on Friday. The National Consumer Price Index (CPI) for March rose by 2.7% year-over-year, compared to a 2.8% increase in February, according to the latest data from the Japan Statist ..read more

GBP/USD loses traction around 1.2430 amid the firmer US dollar on Friday.  The Fed’s hawkish comments boost the Greenback against the GBP.  BoE’s Greene said rate cuts were not imminent and that inflation remains too high.  The GBP/USD pair remains on the defensive near 1.2430 during the early Asian session on Friday. The downtick of the major pair is backed by the stronger US Dollar (USD) as the strong US economic data and hawkish remarks from the Federal Reserve (Fed) officials have triggered the speculation that the US central bank will de ..read more

The post Japan National Consumer Price Index (YoY) meets expectations (2.7%) in March first appeared on Online broker AMarkets ..read more

The post Japan National CPI ex Food, Energy (YoY) down to 2.9% in March from previous 3.2% first appeared on Online broker AMarkets ..read more

Japan’s National Consumer Price Index (CPI) for March climbed 2.7% YoY, compared to a 2.8% uptick in February, according to the latest data released by the Japan Statistics Bureau on Friday. Further details unveil that the National CPI ex Fresh food arrived at 2.6% YoY in February versus 2.8% prior. The figure was below the market consensus of 2.7%.   Market reaction Following the Japan inflation data, the USD/JPY pair is down 0.02% on the day at 154.61.  Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen (JPY) is one of the world’s m ..read more

AUD/USD falls following hawkish signals from Fed officials, emphasizing no immediate rate cuts. US economic indicators strengthen, with the Philadelphia Fed Manufacturing Index hitting a new high since April 2022. Australian employment data disappoints, with job losses and a slight increase in the unemployment rate casting shadows over RBA forecasts. The Aussie Dollar is on the defensive against the US Dollar, as Friday’s Asian session commences. On Thursday, the antipodean clocked losses of 0.21% against its counterpart, driven by Fed officials emphasizing they’re in no rush to ease policy ..read more

Bank of Japan (BoJ) Governor Kazuo Ueda spoke in a press conference after attending the Group of 20 (G20) finance leaders’ meeting in Washington on Thursday. Ueda said that the central bank may raise interest rates again if the Yen’s declines considerably increase inflation, highlighting the impact currency moves may have on the timing of the next policy shift.  Key quotes “There’s a possibility the weak yen could push up trend inflation through rises in imported goods prices.”  “If the impact becomes too big to ignore ..read more