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Dollar remains firm despite Asia FX weakening China PMI counters rate optimism

Friday saw a decline in the majority of Asian currencies as the dollar held onto its overnight gains as signals of China’s ongoing economic deterioration mostly overshadowed hopes for a reduction in U.S. interest rates and inflation. China’s purchasing managers index (PMI) data through February indicated a slow recovery in economic activity, suggesting that the…

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Gold prices continue to decline despite longer-term increases in rates

Amidst growing speculation that the Federal Reserve will maintain higher interest rates for an extended period, gold prices declined during Asian trading on Monday. Nevertheless, the yellow metal managed to remain above crucial levels due to safe-haven demand and short-term dollar weakness. In January, traders unwound bets that the Fed would start lowering interest rates…

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