As Wall Street collapses, and as the USD surges, high inflation might trigger an aggressive US Federal Reserve reaction in an attempt to bring inflation under control, despite increasing concerns about a US recession.The USD/CAD pair gained traction on Monday and extended its rally to three consecutive days, even though …

Republican Florida Senator Rick Scott on Monday released the latest TV advertisement targeting US President Joe Biden and promoting Scott’s “Rescue America” plan.“Joe Biden has destroyed America’s economy,” Scott says in the ad. “It’s time to be honest with the American people. Joe Biden is unfit for office and should …

The GBP/USD pair has suffered heavy losses at the beginning of the week. The pair closes in on 1.2200 after disappointing UK data. The US dollar is likely to preserve its strength amid hawkish Fed bets, risk aversion.The GBP/USD pair has extended its slide in the early European session on …

The AUD/USD cratered into the low-0.6900s on Monday, down over 1.5% on the day and over 4.0% lower in four days. The pair is being battered by risk-off flows as markets price a more hawkish Fed and potential recession. China lockdown fears are also hurting the pair, with bears eyeing …

Friday’s US hot inflation reading triggered a flight to safe-haven currencies like the greenback, and precious metals fell.The 2s-10s US Treasury yield curve inverted during the day as a recessionary scenario looms. The CME FedWatch Tool shows that the odds of a 75 bps increase in the June meeting lie …

The US Dollar Index, a measure of the dollar’s value, is advancing 0.84%, sitting at 104.177, while the US 10-year benchmark note rises 21 basis points and is up at 3.154%.As investors expect an aggressive US Fed, USD/CHF rallies 0.80% post US hot inflation. Elevated US Treasury yields lifted the …

The Consumer Price Index published on Friday by the Bureau of Labor Statistics hiked by 8.6% from a year ago, up from April’s reading of 8.3% and higher than economists had projected.Federal Reserve policymakers tasked with bringing prices back down could likely to take clues from May’s CPI report on …

gold prices are soaring on Friday despite higher US yields and a stronger dollar. The Gold Index XAU/USD rebounded again at the $1830 but this time it broke $1850 and a few minutes later reach $1870, and even $1874 at the time of writing.Following the US May CPI report, XAU/USD …

Financial Japanese authorities had a meeting to address the weaker JPY and have agreed to act if the yen continues weakening. Despite falling on threats of an intervention by Japan, the GBP/JPY pair managed to gain 1.30% within a week.The GBP/JPY pair fell on Friday and trimmed weekly gains of …

Tesla announced in its annual proxy statement released late Friday it will seek shareholder approval to split its stock 3-for-1.Tesla said the proposed stock split, “would help reset the market price of our common stock so that our employees will have mor flexibility in managing their equity, all of which, …