Australian Dollar Rises on Risk-On Sentiment and Strong China Services PMI
Australian Dollar Rises on Risk-On Sentiment and Strong China Services PMI The Australian Dollar (AUD) gained ground on Wednesday, bolstered by improved risk sentiment and a stronger-than-expected China Services PMI. However, the upward momentum of the Aussie Dollar may be constrained by weaker-than-anticipated domestic economic data. The Gross Domestic Product (GDP) for the first quarter grew by only 0.1% quarter-on-quarter, falling short of the 0.2% expected. On an annual basis, the economy expanded by 1.1%, […]
RBA Governor Bullock Predicts ‘Quite Low’ March GDP Numbers
RBA Governor Bullock Predicts ‘Quite Low’ March GDP Numbers Reserve Bank of Australia (RBA) Governor Michele Bullock has indicated that a rebound in inflation or persistently high price pressures could necessitate further interest rate hikes. Speaking at a senate estimates hearing, Bullock emphasized the RBA’s readiness to act if inflation remains uncomfortably high, stating that the central bank would not hesitate to increase rates again to control rising prices. Conversely, Bullock noted that if economic […]
Japanese Yen Weakens as Investors Await Key US Data
Japanese Yen Weakens as Investors Await Key US Data On Wednesday, the Japanese Yen (JPY) edged lower as investors exercised caution ahead of crucial US economic data releases, including the US ADP Employment Change and the ISM Services PMI reports. Market participants are also looking ahead to the Nonfarm Payrolls (NFP) report, set to be released on Friday, which could further influence the currency markets. The JPY is under pressure due to the interest rate […]