The Australian Dollar (AUD) remains stable on Thursday following three consecutive days of gains against the US Dollar (USD). The AUD/USD pair saw modest support as the AUD posted slight gains in response to the Australian Employment report. According to the Australian Bureau of Statistics (ABS), employment increased by 56.3K in December, up from 28.2K in November (revised from 35.6K) and significantly exceeding the market forecast of 15.0K. Meanwhile, the Unemployment Rate rose to 4.0% in December, compared to 3.9% in November, aligning with market expectations.Bjorn Jarvis, head of labor...
The dollar index held around the 109 level on Thursday (16/1) after declining for three straight sessions, as signs of easing U.S. inflation strengthened expectations for further Federal Reserve interest rate cuts this year. U.S. core inflation rose 3.2% year-on-year in December, slowing from 3.3% in November, which was also the consensus forecast. On a monthly basis, the core reading fell to 0.2% from 0.3%, in line with expectations. The inflation data led to a sharp drop in the 10-year U.S. Treasury yield, which fell about 14 basis points to around 4.65%. Market participants also expect...
Silver price (XAG/USD) remains stable at around $30.70 per troy ounce during the Asian session on Thursday. The price of the non-yielding metal gained support as December's lower-than-expected underlying inflation in the US sparked speculation that the US Federal Reserve (Fed) might implement two interest rate cuts this year. Meanwhile, 2-year and 10-year US Treasury bond yields stand at 4.27% and 4.66%, respectively, at the time of writing. Both yields dropped by over 2% on Wednesday. Additionally, the US Dollar Index (DXY), which gauges the US Dollar's (USD) performance against six major...