Tuesday witnessed the biggest US dollar’s rally since 2020 on the back of fresh economic data released by the US Labour Department highlighting CPI that unexpectedly rose in August. The dollar index was up 1.5% at 109.85 in its biggest one-day percentage gain since March 2020. The American currency, however, …
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US Treasury yields reacted very naturally to Tuesday’s inflation data. Yields have soared since the release of the CPI data and through the US session. The 10-year US Treasury yield rose to 3.444%, compared to the last daily close at 3.385%.The yields on these benchmark bonds fell to their lowest …
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Tuesday brought CPI (Consumer Price Index) data for August, which details inflation at the consumer level. Wednesday will witness the release of the PPI (Producer Price Index) and that is inflation at the producer level. It is more interested in what manufacturers are paying for the raw materials that they …
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On Wednesday, the European Commission is expected to announce targets to cut electricity consumption and a revenue cap for non-gas fueled plants. Energy ministers will hold an emergency meeting on Sept. 30 to discuss them. Germany will inaugurate lending to energy firms that are at risk of being crushed by …
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Beginning on Sept. 21, the Eiffel Tower, which is usually illuminated in golden hues within less than 10 minutes of nightfall and has an hourly 5-minute show of dazzling sparkles until 1 a.m., will have its lights turned off beginning at 11:45 p.m., when visiting time has ended. The nightly …
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The US dollar is firmer on the hawkish sentiment surrounding the Fed’s intentions concerning interest rate policy at next Wednesday’s meeting. The EUR/USD pair has printed a fresh low in midday US session near 0.9973 and fell from 1.0187 high on the day following the US inflation data. At the …
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Monthly U.S consumer prices unexpectedly rose in August as declining fuel prices were significantly erased by extra rent and food costs, giving sufficient grounds for the US central bank pursue its hawkish stance and accordingly to decide another interest rate increase next Wednesday.The consumer price index gained 0.1% last month …
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The USD/JPY is generally in overbought conditions, but the BoJ’s dovish stance would keep the yen weak. A clear break of 145.00 would send the pair rallying toward August 1998 at 147.67.The USD/JPY rallied after the US Department of Labour reported that inflation was decelerating but exceeding estimations, catching off …
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European stocks fell on Tuesday as hotter-than-expected US inflation data raised fears about aggressive interest rate hike by the Fed at its upcoming policy meeting, and triggered widespread selling in several sectors while disappointing data from the U.K., Germany and Switzerland also weighed on sentiment.The pan European Stoxx 600 fell …
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Global economic growth is expected to continue strong at 3.1% this year and another 3.1% in 2023 according to OPEC’s forecast, on Tuesday, suggesting that the group expects healthy oil demand growth despite market fears of recession. In its September Monthly Oil Market Report (MOMR) published today, OPEC made no …
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