At 1.3069, the GBP/USD pair is attempting to correct the London sell-off that followed the European Central Bank announcements that sank the Euro and enabled the embattled US dollar to bounce back. The pound was caught up in the flows and extended a fall from a high of 1.3146 to …

The US Commerce Department on Thursday said that retail sales rose a seasonally adjusted 0.5% in March from a month earlier. That was a tad less than the 0.6% gain that economists polled by The Wall Street Journal were looking for, but there were also revisions to the previous two …

The preliminary estimate of the University of Michigan’s (UoM) Consumer Sentiment Index for April rose to 65.7 from 59.4 last month, above the expected reading of 59.0, data released on Thursday showed. The Consumer Expectations Index was also significantly stronger than expected at 64.1 versus forecasts for a reading of …

The GBP/USD pair has dipped back under 1.3100 as it weakens in tandem with the euro post-dovish ECB policy announcement. The pair remains at risk of falling to sub-1.3000 levels amid the risk of more BoE/Fed policy divergence.Though the currency hasn’t been weighed as badly as its euro counterpart, the …

The USD/CAD pair staged a goodish intraday bounce from over a one-week low set earlier this Thursday. Weaker oil prices undermined the CAD and extended support amid resurgent USD demand. Bulls seemed rather unaffected by the disappointing release of the US Retail Sales figures.The USD/CAD pair recovered nearly 70 pips …

International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Thursday that the IMF will be downgrading the outlook for global growth for both 2022 and 2023, reported Reuters. She cited inflation, tightening of financial conditions and frequent Covid-19 lockdowns in China as weighing on activity. Additional Takeaways:• Since the …

Inflation, central banks and the Eastern European crisis are still impacting the market’s mood. Economic DataThe US reported that the March Consumer Price Index jumped to 11.2% YoY, both above anticipated while the UK published the March Consumer Price Index, which jumped to a three-decade high of 7% The annual …

The US dollar index (DXY) has witnessed a sheer downside after recording a fresh three-year high at 100.52 on Wednesday. The DXY ended its nine-day winning streak on Wednesday after investors shrugged off the hangover of the higher US Consumer Price Index (CPI). The US Bureau of Labour Statistics reported …

Wall Street Ends Higher, Breaking a 3-Day Losing Streak Wall Street rallied to end higher on Wednesday, powered by a recovery in interest-sensitive growth stocks as investors digested hot inflation data and a mixed bag of quarterly results. Stocks closed higher on Wall Street as investors reviewed the latest round …

The world’s largest economy is grappling with rising inflation levels. Per the latest Labour Department report, the Consumer Price Index (CPI) jumped 8.5% year over year in March, reaching the highest level since December 1981. The reading also surpassed the already high Dow Jones estimate of 8.4%. The high inflation …