Economic data dragged the US dollar down after Tuesday’s US Consumer Price Index reading that rose by 7.1% on a yearly basis in November, versus previous 7.7% in October. In the same period, core CPI, which excludes volatile food and energy prices, rose by 6%, below the 6.1% expected.The encouraging …

Tomorrow is Jerome Powell’s last FOMC speech for 2022. The Federal Reserve has previously signaled a general tendency to step down the pace of interest rate hikes upon concluding its two-day meeting on Wednesday, with extensive expectations of a half-point rate hike to a range of 4.25% to 4.5%. Nevertheless, …

The UK will release the Consumer Price Index data on Wednesday, December 14. Economists and researchers of five major banks have provided their expectations on the awaited data as follows:Headline is expected at 10.9% year-on-year versus 11.1% in October while Core, which excludes volatile food and energy prices, is expected …

The Canadian Dollar is breaking out on the back of the softer than expected CPI data in the United States. Technically speaking, the bears have eyes on 1.3380 as a possible last defense for a much deeper correction versus the US dollar.The Canadian Dollar, which had already been heading up …

In an interview on Dubai TV, Monday, Mohamed Hashad, Head of Research and Development at Noor Capital and member of the American Association of Technical Analysts, commented on the most important developments in global financial markets on the first day of trading during this week, most notably the Federal Reserve’s …

The Australian dollarsnapped three days of gains and dropped 0.84%, following last Friday’s US producer’s inflation data, ahead of the release of the CPI in the United States. The positive sentiment that usually supports the AUD/USD keeps the Australian dollar under pressur. Therefore, the AUD/USD pair is trading at 0.6735 …

The Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations showed on Monday that the US consumers’ one-year inflation expectation declined to 5.2% in November from 5.9% in October, marking the biggest one-month decline on record.Further details of the publication showed that the three-year ahead expected inflation edged …

The US Consumer Price Index is expected to be cooler. Sliding CPI data is in the favour of the Euro, due to less hawkish tightening anticipated the Federal Reserve.The awaited CPI data will be released on Tuesday, estimates refer to falling from 7.7% in the previous month’s reading to a …

The precious metal is trading at $1784.27 per ounce at the time of writing versus the previous closing price at $1797.11.Inflation data from the US and the Federal Reserve’s policy decision are expected to help investors obviously see whether gold price can extend its bullish rally into the end of …

Bank of England to hike rates by 50 bps, fresh forecasts coming up. Concerns about a global economic setback weighed on US indexes. The GBP/USD pair is trading at 1.2265 at the time of writing.The GBP/USD pair peaked at 1.2321 after Wall Street’s opening but trimmed intraday gains and hovers …