The GBP/USD pair broke above 1.1990 during the American session and jumped to 1.2033, reaching the highest level since July 8. It is hovering around 1.2010/15, up 150 pips for the day, boosted by a weaker US dollar.Generally speaking, there is a significant improvement in risk sentiment. Equity prices ended …

Statistics Canada will release June Consumer Price Index (CPI) data on Wednesday, July 20 at 12:30, and forecasts by the economists from six major banks regarding the upcoming Canadian inflation data shed light on the awaited reading.The June Canada inflation rate is expected to rise by +0.9% MoM from +1.4% …

The US dollar surged to two-decade highs between Wednesday and Thursday after panic across markets that the Fed might decide a record 100-basis point rate hike next to suppress fresh four-decade highs in consumer prices which constitute a threat later downplayed by the US monetary policymakers.On Friday, the US Census …

Following a meeting with Crown Prince Mohammed bin Salman in Jeddah, though US president Joe Biden said he expected Saudi Arabia to take further steps to increase the oil supply in the coming weeks, oil surged 2.5% on Friday after a US official said that an immediate Saudi oil output …

Oil surged 2.5% on Friday after a US official said that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production.The comment during US President Joe Biden’s visit to the kingdom comes at a time when …

The dollar slid lower on Friday as investors evaluated how high the Fed is likely to raise interest rates by when it meets later in July. Investors also took profits after a strong USD’s rally that sent the American currency to a two-decade high.The dollar has jumped as the Fed …

The USD/JPY has gained 1.80% in the week, extending its rally to the seventh consecutive week. The USD/JPY retreats from highs at around 139.38, towards the middle of the 138.00-139.00 range on Friday, as Wall Street closes the week with gains between 1.83% and 2.15%, underpinned by positive data that …

Active drilling rigs in the US rose by 4 to 756, the highest since March 2020 and 56% more than a year ago, according to the latest weekly survey from Baker Hughes.Drilling rigs targeting crude oil gained 2 to 599, also the most since 2020, and gas rigs were unchanged …

US equities surged on Friday, bringing a positive end to a seemingly disappointing week, as strong retail sales data and a survey hinting at easing inflation expectations tempered concerns over the economic outlook.Ealier on the day, Europe’s Stoxx 600 equity index closed 1.8 per cent higher. The S&P 500 share …

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 …