The USD Index (DXY) gave up some of its recent gain amid lower yields across the curve due to a data-driven sell-off. The BoE furthered the policy divide between the Fed and its G10 counterparts by holding rates steady and paving the way for a rate cut earlier than expected. …

Shunichi Suzuki, the finance minister of Japan, stated on Friday that he will be closely monitoring the foreign currency (FX) move and that, if necessary, he will take the appropriate action. The Japanese Yen (JPY) shows little to no market reaction to the verbal intervention. As of this writing, the …

On Thursday, the British blue-chip stock index set a record as the Bank of England moved closer to reducing interest rates, with a second official endorsing the move. Meanwhile, the pound sterling and UK bond yields declined. Sterling hit a two-week low of $1.2446, down as much as 0.4% vs …

Chief Economist of the Bank of England, Huw Pill, signaled to markets that the UK’s central bank will be considering rate cuts over the next few meetings, provided there are no “big disturbances” in the economy. BoE’s Pill spoke during a virtual question and answer period regarding the BoE’s Monetary …

Despite a spike in earnings, Arm Holdings, a significant semiconductor firm, has seen a decline in value. Nvidia made a bid of $40 billion to acquire Arm from Softbank in 2020, but European and American regulators vetoed the transaction. In September 2023, the business underwent a spin-off through an IPO, …

Ahead of the Bank of England’s interest rate decision on Thursday, the GBP/USD pair managed to recover from multi-session lows around 1.2470. Despite this, the pair remained cautious. On May 9, it is generally anticipated that the BoE would maintain its policy rate. BoE’s Bailey and Pill are also scheduled …

Bitcoin price declined on Wednesday, reversing a rebound seen over the weekend due to persistent concerns over more regulatory scrutiny against the cryptocurrency industry. The dollar rebounded from recent losses after Federal Reserve officials signaled that the central bank was more likely to keep rates unchanged in 2024. Bitcoin fell …

This week’s US economic data schedule is somewhat low; up to Friday’s University of Michigan Consumer Sentiment Index, the only available data is of a moderate quality. In May, the UoM’s indexed poll of consumer economic expectations is predicted to decline slightly from 77.2 to 76.0 MoM. In March, the …

Oil prices have erased all intraday losses after the Energy Information Administration (EIA) release, with WTI crude prices reaching their lowest levels in almost two months. The US benchmark crude is +0.12% up trading at $78.10 and Brent is trading is also +0.16% up trading at $82.91 per barrel, at …

Despite higher US Treasury yields and a stronger US dollar during the North American session, gold is still trading firmly over $2,300. This is a slight move. Now, traders’ and investors’ attention is focused on impending US data, such as unemployment claims, University of Michigan consumer sentiment, and the Fed’s …