Japan’s consumer sentiment decreased unexpectedly in February to the lowest level in almost two years, survey data from the Cabinet Office showed on Tuesday. The seasonally adjusted consumer confidence index weakened to 35.0 in February from 35.2 in January. Meanwhile, economists had forecast the index to rise to 35.7. Further, the latest reading was the
Japanese Prime Minister (PM) Shigeru Ishiba said on Tuesday that “Japan is not pursuing so-called currency devaluation policy.” Ishiba further noted that they “have had no phone call from US President Trump regarding forex policy.” Market reaction The Japanese Yen (JPY) is recovering some ground against the US Dollar (USD) following these comments. At the
Commonwealth Bank of Australia (CBA) CEO Matt Comyn Australia’s easing cycle would be “slower and shallower” than what people had been expecting further rate cuts would not arrive until later in the year Australia “clearly not out of the woods” when it came to inflation further rate cuts would “hinge on [economic] data points”. ***
Bitcoin’s (BTC/USD) price experienced significant volatility, dropping to $78k before rising to $95,000 due to Trump’s cryptocurrency reserve comments, then settling around $86k. Open interest for Bitcoin is at a six-month low, which historically has preceded price jumps. Spot Bitcoin ETF flows saw a $94.3 million investment on the last day of February, ending a
XAU/USD climbs to $2,888 as markets brace for tariffs, weaker US growth Gold snaps a two-day losing streak as risk-off sentiment drives safe-haven flows. Trump’s tariff threats, clash with Zelenskyy fuel market uncertainty. Atlanta Fed GDP Now forecast plunges to -2.8%, boosts Gold’s appeal. Gold price is rallying over 1% on Monday, snapping two days
A reading bhe ANZ-Roy Morgan Australian Consumer Confidence index has dropped back to 87.7 from 89.8 in the previous week, which was its highest since May 2022 A reading below 100 indicates net pessimist, where this survey has been since early 2022. This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Published: March 3, 2025 at 5:02 p.m. ET U.S. stocks endured another serious setback on Monday as what one trader described as a tariff “tape bomb” from President Donald Trump caused the S&P 500 to tally its biggest daily drop in months. After a rocky month that saw the Nasdaq Composite COMP fall sharply from its
DXY erases Friday’s gains, slipping as European leaders back Ukraine peace deal guarantees. US Manufacturing PMI beats estimates, while ISM Manufacturing PMI misses expectations. Bond yields edge lower, reinforcing expectations of Fed rate cuts later in 2025. Technical indicators suggest further downside as key moving averages converge near 107.00. The US Dollar Index (DXY), which
The Australian dollar has posted strong gains to start the week. AUD/USD is trading at 0.6203 in the North American session, up 0.71% on the day. The Aussie has ended a nasty six-day losing streak, during which it declined 3% against the US dollar. Will Australian retail sales rebound? Australia releases retail sales on Tuesday,
Even aside from the possible front-running of the announcement, I’ve seldom seen such a universally skeptical response to an announcement from Trump as Sunday’s crypto reserve. Trump later added bitcoin, ethereum and ‘other valuable cryptocurrencies’. Naturally, the named coins ripped higher immediately. But if you read between the lines, it’s not clear exactly what has
European markets saw a strong rally today, with notable fund inflows driving gains in DAX and Euro. Investor sentiment was boosted by expectations of increased military spending after the announcement of the UK and France-led “Coalition of the Willing” to support Ukraine. FTSE and Sterling also benefited from the renewed optimism, as traders priced in
Published: March 3, 2025 at 8:05 a.m. ET Nvidia Corp.’s market performance over the past six months is a good illustration of the difference between a good company and a good stock. Nvidia — the company — has performed phenomenally. Its cumulative earnings per share over the past two quarters were more than 800% higher than
The Pound Sterling rises to near 1.2650 against the US Dollar due to positive developments in the Russia-Ukraine peace truce. Fears of US President Trump’s tariffs on Canada, Mexico, and China loom large. The BoE is expected to follow a careful and gradual policy-easing approach. The Pound Sterling (GBP) trades higher against its major peers, except
The USD/CAD outlook indicates unexpected strength in Canada’s economy. The outlook for Canada’s economy remains gloomy. PCE data revealed a decline in US consumer spending. The USD/CAD outlook indicates unexpected strength in Canada’s economy that has paused the loonie’s recent decline. However, the outlook for the currency remains bleak as market participants expect Trump’s tariffs
India’s manufacturing activity continued to expand strongly in February, though at the weakest pace in more than a year, data compiled by S&P Global showed on Monday. The HSBC final manufacturing Purchasing Managers’ Index dropped to 56.3 in February from 57.7 in January. The flash reading was 57.1. However, a score above 50.0 indicates expansion.
Bitcoin led the charge in an otherwise quiet Asian session, rebounding over 20% from last week’s low after a major announcement from US President Donald Trump. The cryptocurrency sector saw dramatic relief from its steep selloff last week, as Trump revealed the creation of a strategic crypto reserve, including Bitcoin, Solana, XRP, and other digital
