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The euro rallied on Tuesday, helped by a rise in government bond yields as well as comments from a European Central Bank policymaker in which he said a half percentage point interest rate hike is possible.Klaas Knot told a Dutch television program said he favors a quarter-point rate hike, but …

The US dollar edged lower across the board as the American currency extended the bearish corrective decline that began on Monday. Positive US data has helped the case for a better market sentiment, with global indexes closing in the green.The underlying concerns remain the same. Tensions between Europe and Russia …

ECB President Christine Lagarde has allowed national central bank chiefs a bigger say in policy meetings, asking her board members to speak less and set aside more time for debate.Lagarde has told chief economist Philip Lane and board member Isabel Schnabel to limit their presentations and leave more space for …

Gold goes offered on a hawkish Powell as the US dollar rallies. The US dollar has popped out of a 15-min wedge formation to the upside. The US Dollar Index was down 0.82% at 103.33, a touch away from the low of 103.226 ahead of the Powell event. On hawkish …

Federal Reserve Chair Jerome Powell said on Tuesday that US central bank officials will keep tightening policy until inflation comes down in “a convincing way.”“There have been some promising signs you can point to,” Powell said at a Wall Street Journal conference. But, he added, “There are some signs that …

The US dollar is crumbling, this week as investors survey the landscape of the global economy, not just in the US. The dollar has fallen victim to improved risk sentiment, helping the likes of the euro that has been extending its rebound from a five-year low touched last week, and …

The euro is higher versus the US dollar by 1.13% rallying on wider risk-on from 1.0428 to a high of 1.0555. The euro has extended the rebound from a five-year low touched last week while the US dollar is down against its major trading partners.The euro benefited at the start …

Data released on Tuesday showed Industrial Production rose 1.1% in April. Analysts at Wells Fargo point out that US factories, mines and energy producers together called more capacity into service than at any other time since the start of the pandemic. They warn supply chains are not fixed and could …

Despite rising interest rates, high inflation and product shortages, retail sales rose above expectations in April and upward revisions to the prior month suggests a better first quarter for consumer spending than first reported, explained analysts at Wells Fargo. Key Quotes: “The main takeaway is that despite all the obvious …

The USD/CAD bounced to the upside and eared losses on Tuesday after the greenback gained momentum during the American session. The pair printed a fresh daily high at 1.2854 and it is hovering around 1.2845. Earlier on Tuesday it bottomed at 1.2805, the lowest level since May 5.Economic data from …