The Indian Rupee extends its downside in Tuesday’s Asian session. Trump’s tariff threat, foreign fund outflows, and a stronger USD weigh on the INR. The US October JOLTs Job Openings will be released on Tuesday. The Indian Rupee (INR) remains under pressure on Tuesday after depreciating to a fresh all-time low in the previous session. The disappointing Indian macroeconomic…
The Institute for Supply Management (ISM) showed the U.S. manufacturing sector contracted for the eighth consecutive month in November, with the headline PMI rising to 48.4 from October’s 46.5, still below the 50.0 expansion threshold. The report highlighted that while manufacturing activity remained in contraction territory, the pace of decline moderated compared to October. Only three of the 14…
The offshore yuan has fallen to its lowest level since July, driven by concerns over potential tariffs from the Trump administration. If such tariffs are imposed on Chinese goods, a weaker yuan could offset some of the impact by making Chinese exports more competitive internationally. This dynamic is shaping up as a key theme as markets adjust to the…
Australia Current Account Balance below forecasts (-10B) in 3Q: Actual (-14.1B)
Only a handful of top-tier catalysts is on this week’s docket, but these major reports could still spark big moves in the forex market. The main focus could be the upcoming U.S. NFP release, along with the leading jobs indicators lined up in the days ahead, while Australia’s GDP and Canada’s jobs report could also spur volatility. …
The EUR/USD moved lower on Monday, erasing much of last week’s gains. However, the pair found support near a key swing area between 1.0448 and 1.0461, where buyers stepped in to halt the decline. This level remains a critical support zone for the pair. Following the bounce, EUR/USD climbed back toward the 200-hour moving average (1.05106) but faced renewed…
The Greenback rose to three-day highs amid a strong resurgence of the bid bias, supported by Trump’s threats of further tariffs along with political concerns in France. Here is what you need to know on Tuesday, December 3: The US Dollar Index (DXY) advanced past the 106.70 level against the backdrop of mixed US yields across the curve and…
2024.12.02 2024.12.02 Greenback Blackmails Its Counterparts. Forecast as of 02.12.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The United States has made it clear that it will not accept the creation of a single currency within the BRICS bloc. The participating countries should guarantee that they do not intend to pursue this course of action. Donald Trump recently expressed this viewpoint, and the US…
Australia is dropping its Q3 2024 GDP this week! Our Australian GDP Event Guide points out that continued weakness in consumer spending and imports outpacing exports may lead to another weak reading for the period. Still, green shoots in business activities could keep the Reserve Bank of Australia (RBA) less dovish than its peers. This Article Is…
Goldman Sachs anticipates President-elect Trump’s proposed tariff hikes—expected to be double the size of the previous round—combined with tax cuts, to significantly bolster the USD in 2025, despite initial market volatility. Key Points: Aggressive Tariff Strategy: President Trump’s proposals target China, Mexico, and Canada, signaling his preference for tariffs as a unilateral and impactful policy tool. Goldman Sachs economists…