The USD/JPY recovers after dipping 350-pips in the week, rallying above the 122.00 mark on a buoyant market sentiment and the stronger US dollar, lifted by solid US macroeconomic data and prospects of the Federal Reserve hiking rates by 50-bps in the May meeting. The USD/JPY pair is trading at …

Chicago Fed President and FOMC member Charles Evans on Friday said that raising interest rates to just under 2.5% by March 2023 gives the Fed “optionality”. It is not a big risk if that rate-hike path includes “some” 50 bps hikes to get to the neutral rate sooner.Monthly inflation reports …

The headline ISM Manufacturing Purchasing Manager’s Index (PMI) figure fell to 57.1 in March from 58.6 in February, a miss against expectations for a small rise to 59.0, according to the latest release by the Institute for Supply Management (ISM). There was a sharp rise in the Price Paid subindex …

The conflict in Ukraine reinforces downside risks for the Turkish lira according to MUFG Bank. The bank forecasts USD/TRY at 15.250 by the end of the second quarter and at 16.000 by the third quarter. Key Quotes:“The lira has re-weakened against the US dollar over the past month undermined primarily …

The EUR/USD pair dropped further and printed a fresh three-day low during the American session at 1.1026 as the US dollar gained momentum. The bias remains to the downside with the pair set to keep trimming weekly gains.The US dollar strengthened after the beginning of the American session as market …

The euro tumbled on Thursday as investors fretted about rising EU-Russia economic tensions after Russian President Vladimir Putin doubled down on a demand that European nations pay for Russian gas in roubles, exacerbating fears that Russia might block energy exports to the EU bloc. This, coupled with a generalized paring …

Ukrainian President Volodymyr Zelenskyy on Thursday said ”the situation in the south and the Donbas region remained extremely difficult and reiterated that Russia was building up forces near the besieged city of Mariupol.”“There will be battles ahead. We still need to go down a very difficult path to get everything …

May contracts concluded for the prompt month for New York Mercantile Exchange natural gas futures opened with a bang Wednesday, rising 27.5 cents day/day and settling at $5.605/MMBtu while June futures gained 27.7 cents to $5.658.After slumping to start the week, natural gas futures regained momentum similar to last week’s …

Gold has been on the front foot since the European morning, bouncing from the $1920 level into the $1940s. A ramping up of energy-related tensions between EU nations and Russia plus risk-off flows have benefitted the precious metal.The gold price is currently in a phase of consolidation ahead of the …

Friday’s awaited report will be the final NFP data immediately before the next Fed meeting in early May, where traders are currently split between expecting a 25bps and a 50bps rate hike.It is like a problematic monetary policy riddle; how can a central bank raise interest rates, but be further …