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The US Dollar retreated on Wednesday, though US yields jumped. Most European stock markets posted losses, and on Wall Street, US equities exhibited mixed performance.The AUD/USD pair recovered from monthly lows by holding around the 0.6700 support. NZD/USD reached its highest level in two weeks on Wednesday, reaching 0.6275, making …

Since the risk-off sentiment has subsided, the EUR/USD pair is attempting to retake the 1.0700 barrier. Resurgence of German inflation has strengthened the case for continuing the 50 bps rate hike, so the Fed doesn’t need to be in a rush to end the period of tightening policy.After failing to …

Wednesday saw a modest increase in oil prices as evidence of sufficient supply, notably rising U.S. crude stocks, outweighed rising expectations for higher demand following an increase in manufacturing in the world’s biggest petroleum importer China.Brent crude futures ended the day at $84.31 per barrel, up 86 cents or 1%. …

On Wednesday, the Chinese manufacturing sector expanded at its quickest rate in a decade, which led to a decline in the US dollar and a rise in the Chinese yuan. The euro increased after German inflation statistics jumped last month, which increased expectations for rate hikes in the euro zone.The …

Despite rising US Treasury bond yields, the USD/JPY pair was unable to gain momentum. According to December’s 2022 dot-plots, the Fed policymakers who made the Wednesday poking are still anticipating rates at roughly 5.25 percent.Although input costs have increased, manufacturing activity in the US is still at a low level, …

With the ISM Manufacturing PMI creeping up to 47.7 from 47.4, the economic activity in the US manufacturing sector continued to shrink in February, though at a slower rate than it did in January. This figure was lower than the market forecast of 48.The report’s supporting information showed that the …

Bostic: Fed’s policy rate needs to remain at 5.00%-5.25% range well into 2024Atlanta Fed President Raphael Bostic stated in an essay published on Wednesday that he still holds the opinion that the policy rate needs to increase to the 5.00%-5.25% range and stay there far into 2024.Bostic continued, “A narrative …

Following the US ISM Manufacturing PMI, the GBP/USD pair moved into negative territory. Despite the market’s optimism on the favourable economic data from China, the pair is seen falling. Moreover, a BoE official expressed more hawkish views than anticipated, which helped boost the GBP/USD. At the time of writing, the …

Wall Street stocks closed February on a noticeably shaky note, raising concerns about the resilience of a rise that began in early 2023. The Dow Jones Industrial Average had a solid start to the year in January, but it declined by 4.2% in February, bringing the blue-chip index’s annual decline …

Inflation in Germany, as measured by the Consumer Price Index (CPI), stayed unchanged at 8.7% on a yearly basis in February. This reading came in higher than the market expectation of 8.5%. On a monthly basis, the CPI was up 0.8%. Meanwhile, the annual Harmonised Index of Consumer Prices (HICP), …