Economic News Category

February 20, 2024
USD/JPY Steady Above 150.30, Awaiting FOMC Minutes

USD/JPY Steady Above 150.30, Awaiting FOMC Minutes During the early Asian trading hours on Tuesday, the USD/JPY currency pair maintained its position above the significant 150.00 psychological threshold, showcasing a slight upward trend attributable to renewed demand for the US Dollar (USD). The pair’s ascent is further illustrated by the US Dollar Index (DXY), which

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February 19, 2024
UK Home Prices Increase with Boost from Mortgage Relief

UK Home Prices Increase with Boost from Mortgage Relief In the UK, home sellers have raised their asking prices for a second consecutive month, signaling a resurgence in the property market which experienced its worst performance since the financial crisis. In February, the average asking price for homes on the market climbed by 0.9% to

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February 16, 2024
GBP/USD Falters Above 1.2600, Trading Lower Before UK Retail Sales Data

GBP/USD Falters Above 1.2600, Trading Lower Before UK Retail Sales Data The GBP/USD currency pair remains in a challenging position, unable to sustain momentum or find solid ground above the 1.2600 threshold. In the Asian trading session on Friday, the pair encountered some resistance, hovering around the 1.2585 mark, showing a slight decline of less

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February 15, 2024
Japan Unexpectedly Enters Recession Amid Weak Domestic Demand

Japan Unexpectedly Enters Recession Amid Weak Domestic Demand Japan has entered a technical recession, as evidenced by the unexpected contraction of its economy in the last quarter of the previous year. This downturn, revealed by provisional government data, is largely attributed to high inflation affecting domestic demand and private consumption in what is now the

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February 14, 2024
Yen’s Decline Poses Challenge for BOJ in Determining Rate Hike Schedule

Yen’s Decline Poses Challenge for BOJ in Determining Rate Hike Schedule The Japanese yen’s rapid descent past the 150 mark against the US dollar presents a significant challenge for the Bank of Japan (BOJ) as it deliberates on the optimal timing for its first interest rate hike since 2007. This notable depreciation adds a layer

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