USD Index Holds Steady at 103.60 Ahead of Crucial US Data
USD Index Holds Steady at 103.60 Ahead of Crucial US Data The USD Index (DXY), a gauge of the US dollar’s strength against a basket of major currencies, maintained a relatively stable position around the 103.60 mark as the week drew to a close. This steadiness in the index follows a robust rebound on Thursday, which followed three consecutive days of decline. During this decline, the USD Index had touched fresh lows, briefly dipping below […]
Japan Finance Minister Advocates Market-Driven Currency Rates
Japan Finance Minister Advocates Market-Driven Currency Rates Japan’s Finance Minister, Shunichi Suzuki, delivered a clear message on Friday, advocating for market-driven currency rates as essential for the nation’s economic stability. While expressing concerns about sudden and sharp currency fluctuations, Suzuki refrained from hinting at any immediate intervention measures to counter the weakening yen, even as it poses challenges due to rising import costs. Suzuki stressed the fundamental importance of currency values aligning with economic realities. […]
USD/CAD Hovers at 1.3510 Despite Oil Strength, Awaits US NFP and Canada GDP Data
USD/CAD Hovers at 1.3510 Despite Oil Strength, Awaits US NFP and Canada GDP Data The USD/CAD pair remains in a defensive stance around 1.3510, rebounding from its two-week low as it enters the European session on Friday. This resilience comes even as the pair fails to respond positively to the surging prices of Canada’s primary export, WTI crude oil, with traders keeping a close watch on upcoming US employment data and Canadian GDP figures. Despite […]