ACY Securities

The Dollar Index (DXY), which gauges the Greenback’s value against a basket of 6 major currencies steadied to finish at 104.27, little changed from previously. In volatile overnight trade, the DXY ratcheted to 104.67 on the higher-than-forecast US PPI before tumbling.

The resurgence of the US dollar in 2024 persists, driven by robust jobs data and resilient inflation. Expectations for a full Fed rate cut have shifted to June, leading to the USD reaching three-month highs against currencies like AUD and JPY.

The Dollar retreated following a slump in January Retail Sales to -0.8%, down from December’s 0.4% which was revised lower. Consumer spending in the US fell sharply.

The CHF's Mardi Gras celebrations are devoid of any late indulgence, as its February losses have deepened due to the unexpected downturn in the Swiss CPI data.

Recent irregularities in the Labour Force Survey (LFS) raise caution due to a low response rate, leading the Office for National Statistics (ONS) to label the dataset as "official statistics in development." While presently valuable for a broad understanding, potential revisions may occur post-resolution of technical i

The current USD/JPY exchange rate sits at 150.8 as of Feb 14, 2024, just below the recent peak of approximately 152. As the USD/JPY nears the 152 thresholds, marking its lowest point since the multi-decade lows observed in October 2022, it becomes imperative to reassess my strategy.

The Greenback strengthened through the 150 Yen mark for the first time since November 2023 after US January Inflation increased 3.1% annually, beating estimates at 2.9%. At the close of trade in New York, USD/JPY was up at 150.85 against 149.25 previously.

The USD has encountered marginal progress since the recent robust report on US employment figures. However, its upward momentum has plateaued compared to earlier in the week.

When we talk about commodities, Brent crude oil is currently traversing a trading range of USD 75-80 per barrel. Despite the presence of recent supply disruptions and escalating geopolitical tensions in the Middle East, the prevailing market sentiment tends towards a bearish outlook.

The New Zealand dollar emerges as a standout performer, marking a notable gain of approximately +0.6% against the US dollar in recent overnight trading.

The yen faced a tumultuous period, reaching fresh year-to-date lows and causing unease among financial circles.

New Zealand’s Kiwi found its wings, soaring 0.53% to 0.6150, its highest finish in a month. With New Zealand’s economy showing signs of resilience, some analysts point to a rate increase from the RBNZ.