Fed Chair Jerome Powell indicated that the “costs of not getting inflation down will be extremely high”. FOMC Chairman Jerome Powell testifies on the Semi-annual Monetary Policy Report before the US House Financial Services Committee on Wednesday.The US Dollar stays under modest bearish pressure during Powell’s testimony and the US …

Job openings in the United States have declined marginally in January, meanwhile, the US Dollar Index continues to fluctuate within the daily range slightly above 105.50.So far, the dollar’s performance showed no immediate reaction to this report and was last seen trading virtually unchanged on the day at 105.700 at …

The Bank of Canada on Wednesday left its key overnight rate on hold at 4.50%, as expected, becoming the first major central bank to suspend its monetary tightening campaign in the face of an anticipated easing of high inflation.Over the past year, the Canadian central bank raised rates eight times …

Gold price outlook has deteriorated by extremely hawkish Fed Powell’s comments on Tuesday. S&P500 retreated on the prevalent dismal market mood as more rates from the Fed do a lot to confirm a US recession. At the time of writing, gold is trading at 1812.63 per ounce. The Gold Index …

Gold price outlook has deteriorated by extremely hawkish Fed Powell’s comments on Tuesday. S&P500 retreated on the prevalent dismal market mood as more rates from the Fed do a lot to confirm a US recession.At the time of writing, gold is trading at 1812.63 per ounce. The Gold Index (XAU/USD) …

According to Fed Chair Jerome Powell, the Fed is ready to take more drastic action if the “totality” of incoming data shows that more stringent policies are needed to manage inflation. In response to recent good statistics, the Federal Reserve will probably need to increase interest rates more than expected.“The …

With Powell’s hawkish stance, the USD/CAD pair rises beyond the 1.3755 mark and is now approaching 1.3800 after trading at 4-month highs. The pair is trading at 1.3759 at the time of writing versus the previous closing at 1.3611 on Monday. On the strength of Jerome Powell’s remarks, the USD/CAD …

GBP/USD dropped more than 150 pips and fell from 1.2000 to 1.1840s. Hawkish comments by the US Fed Chair Jerome Powell at the Senate keeps investors assessing a 50 bps hike in March.The pair is now retreating over 100 pips as Powell testifies at the US Senate on Tuesday. The …

US stocks sharply sold off on Tuesday following the comments by Fed Chair Jerome Powell who suggested that rates may need to go higher for longer, fueling fears of a potentially larger rate hike at the central bank’s March policy meeting.The Dow Jones Industrial Average was last down 402 points, …

Fed Chair Jerome Powell is delivering his bi-annual testimony before the US Senate. He presents the Monetary Policy Report before the Q&A session with senators. The US dollar, stock markets as well as all other asset could be on the move with Powell’s words. The US Dollar’s bullish rally remains …