The USD/CAD pair extends its decline from weekly highs around 1.3220s reached on Thursday, spurred by elevated US PPI data, which showed that inflation is far from peaking, triggering an uptick in expectations of a Fed 100 bps hike, which later eased as Fed policymakers pushed back against those assumptions.The …

University of Michigan’s Consumer Confidence July report has showed an unexpected modest rebound in the main index. Inflation expectations are cooled. This could represents welcome news for Fed’s policymakers and it makes the pressure to go big at the next FOMC meeting less intense after this week’s scorching CPI reading.At …

Bitcoin breached the important $20,000 resistance level and surged past $20,600 on Friday. However, traders are still cautious because the US Fed is expected to boost interest rates by as much as 75-100 basis points in an effort to cool down the country’s spiking inflation, which would make riskier assets, …

San Francisco Fed President Mary Daly said on Friday that she is not concerned above “over cooking things” on rate hikes. Daly also noted that US consumers continue to spend and that the labour market is still robust.However, Daly mentioned that “Inflation is too high” and that the Fed is …

Recession-linked fears have put the US dollar on the bullish path throughout the first half of the day, although cooling expectations of a 100 bps rate hike in the US triggered a corrective slide. The EUR/USD pair plunged to 0.9951 but finished the day at around 1.0020.CME FedWatch is now …

Producer price pressures are still too strong to delay any Fed’s future rate hikes. The US dollar could continue to receive support from the recession-linked fears in and outside the United States. Gold has been pressured on Thursday due to a rising US dollar and hawkish sentiment surrounding the Fed …

Political as well as other crises across Europe add further pressure on the shared currency. The EUR/USD pair plunged to 0.9951, a fresh multi-year low, now recovering above parity. Speculative interest turned into safety amid persistent fears of recession, triggering stock market selloffs.Fears temporarily cooled during the US session as …

The GBP/USD pair is trading down on the day by some 0.7%, falling from the 1.1892 high to a low of 1.1759. The US dollar resumed its relentless move higher on Thursday, charting new 24-year highs in the Dollar Index that tracks the US dollar against six counterparts up more …

St. Louis Federal Reserve President James Bullard prefers to lift interest rates by 75 basis points at the central bank’s next meeting later in June. Bullard told the Japanese news service Nikkei in an interview released on Thursday that he does not back a larger increase for now.“So far, we’ve …

Netflix stock gained some relief on the back of news headlines announcing partnership with Microsoft for lower-cost advertising model. Netflix has been under pressure as the pandemic outperformance gradually faded with the stock down nearly 70% so far this year. It has retraced significantly below its pre-pandemic level, which was …