Author: Daniel Chang

The euro slipped against the dollar on Thursday as traders scaled back expectations of further aggressive interest rate cuts by the European Central Bank (ECB). Currency market activity was subdued due to the Thanksgiving holiday in the United States, which closed U.S. stock and bond markets. The Japanese yen fell to 151.58 per dollar, though it has rebounded by 2.1% this week, erasing losses incurred after the U.S. election. The yen is on track for its strongest weekly performance in three months, with markets pricing in a 53% chance of a Bank of Japan rate hike next month. The dollar…

Global semiconductor stocks rose on Thursday after reports suggested that new U.S. restrictions on China’s chip industry might be less severe than previously expected. ASML saw its shares increase by 4% during European trading, while Tokyo Electron surged over 6% in Japan. The U.S. is considering additional limits on the sale of semiconductor equipment and AI-focused chips to China, but these restrictions appear softer than earlier proposals, easing concerns in the industry. OPEC+ has postponed its upcoming meeting, initially planned for this weekend, to December 5. The group was set to discuss an output increase of 180,000 barrels per day…

The U.S. dollar began the week on a cautious note amid mounting anticipation over potential U.S. interest rate cuts, while the Japanese yen remained strong, buoyed by expectations of rising domestic rates. Bank of Japan (BOJ) Governor Kazuo Ueda signaled over the weekend that interest rate hikes could be approaching, referencing strong economic data and an uptick in Tokyo’s October inflation figures. Markets now estimate a 56% likelihood of a BOJ rate hike to 0.5% during its December 18-19 meeting. Christian Keller, an economist at Barclays, noted that labor earnings data due this week is expected to reflect further growth,…

Australia’s De Grey Mining Ltd saw its shares surge on Monday after Northern Star Resources announced a stock-based acquisition deal valued at approximately A$5 billion ($3.25 billion). This deal, which still requires shareholder and regulatory approval, will make Northern Star a leading global gold producer. Under the agreement, De Grey shareholders will receive 0.119 Northern Star shares for each De Grey share, giving them an implied price of A$2.08 per share. This represents a 36.8% premium over De Grey’s closing price on November 29. Once completed, Northern Star shareholders will own 80.1% of the combined company, while De Grey shareholders…

The U.S. dollar climbed higher on Friday, while the euro fell to a two-year low after the release of business activity data for the U.S. and Europe. Meanwhile, Bitcoin reached a new record high as it approached the $100,000 mark. In the eurozone, the HCOB composite Purchasing Managers’ Index (PMI) dropped to 48.1 in November, its lowest in ten months. This reading, compiled by S&P Global, indicates contraction in business activity, falling below the 50-point threshold that separates expansion from contraction. Similarly, in the UK, PMI slipped to 49.9, marking the first contraction in over a year, as higher taxes…

Morgan Stanley has projected that the Federal Reserve will reduce interest rates by 25 basis points (bps) during each of the next four Federal Open Market Committee (FOMC) meetings, lowering the federal funds rate to 3.625% by May 2025. The forecast is based on expectations of slower economic growth, a cooling labor market, and inflationary pressures that remain persistent. According to Morgan Stanley, factors such as reduced immigration and increased tariffs are contributing to slower GDP growth and more persistent inflation trends. While inflation is expected to ease by early 2025, Morgan Stanley predicts it will remain above the Fed’s…

The U.S. dollar gained against the Japanese yen on Monday as speculation over potential monetary policy tightening by the Bank of Japan (BoJ) continued to influence markets. Despite signaling the possibility of further interest rate increases, Bank of Japan Governor Kazuo Ueda provided no clear timeline for any potential hike, leaving investors guessing. Ueda reiterated that Japan’s economy is moving toward sustainable inflation driven by wage growth, but he emphasized that uncertainties remain. While he acknowledged the chance of an interest rate hike as soon as next month, he refrained from specifying whether December would be the target, citing the…

YourPropFirm has partnered with Devexperts to integrate the DXtrade platform into its trading solutions, alongside MT5. This partnership aims to provide proprietary trading firms with more flexibility and advanced tools to enhance their operations. With DXtrade, firms can set up operations in as little as 10 days while retaining full profits. The platform offers features like trading simulators, risk management tools, and customizable position limits, giving firms the ability to adapt to their unique needs. This move reflects the growing demand for diverse and modern trading platforms. Over 40 proprietary trading firms have already adopted DXtrade, showcasing its reliability and…

New York – The U.S. dollar strengthened on Tuesday, with the dollar index climbing 0.03% to 106.25 after earlier touching 106.63. An initial surge in safe-haven currencies like the dollar, Swiss franc, and yen, driven by geopolitical tensions, lost momentum following calming remarks from Russian and U.S. officials. The market was initially rattled after Russia announced a revision to its nuclear doctrine, lowering the threshold for a nuclear strike. This came amid reports that Ukraine used U.S.-supplied ATACMS missiles to target Russian territory for the first time, marking a significant escalation in the conflict as it reached its 1,000th day.…

The Canadian dollar weakened slightly against the U.S. dollar on Wednesday, while yields on Canadian government bonds moved higher. The loonie declined by 0.2%, trading at C$1.3985 to the U.S. dollar, equivalent to 71.51 U.S. cents. Throughout the session, it fluctuated within a range of C$1.3951 to C$1.3999. Canada’s 10-year government bond yield rose by 4.2 basis points to 3.377%, reflecting a modest increase in borrowing costs. Meanwhile, the yield on comparable U.S. government bonds climbed to 4.4316%. In the commodities market, U.S. crude oil futures for December delivery gained 71 cents, settling at $70.10 per barrel on Wednesday, potentially…