The US Dollar (USD) experienced a decline following the release of the University of Michigan’s Consumer Sentiment Index figures and softer-than-expected housing market data. Markets remain confident about a potential rate cut by the Federal Reserve in September. However, the data suggests that the US economy is maintaining growth above trend, leading to an overestimation
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The AUD/USD pair saw a 0.40% increase during Friday’s trading session, reaching a level close to 0.6950. This rise can be attributed to the hawkish stance maintained by the Reserve Bank of Australia (RBA), particularly emphasized by Governor Michele Bullock. Despite a mixed forecast for the Australian economy and increasing inflation, the RBA’s consistent hawkish
The price of silver, denominated as XAG/USD, experienced a decline on Friday, as reported by FXStreet data. Currently, silver is trading at $28.24 per troy ounce, marking a 0.41% decrease from the $28.36 price point observed on Thursday. Despite this recent dip, silver prices have managed to increase by a significant 18.70% since the beginning
The AUD/JPY cross has gained momentum near 97.55 in Thursday’s Asian session, registering a 0.36% increase on the day. This increase can be attributed to the positive impact of the Chinese July Retail Sales data on the Australian Dollar (AUD). Chinese Retail Sales rose by 2.7% year-over-year in July, surpassing market expectations and providing support