The Dollar Index (DXY), a trade-weighted basket of major USD currency pairs, surpassed its 2017 highs to come within a whisker of hitting 104.00, its highest level since December 2002. This was primarily a result of a steep sell-off in the yen that launched USD/JPY to fresh multi-decade highs of …

The EUR/USD pair remains in the red despite a pick-up in global shares. The Euro is taking some of the brunt due to the volatility in the currency marketplace following the Bank of Japan’s dovish announcements and a subsequent dash for the US dollar. At the time of writing, EUR/USD …

Amazon shares dropped as much as 9% in extended trading on Thursday after the company issued a revenue forecast that trailed analysts’ estimates.Amazon on Thursday gave a revenue forecast that trailed analysts’ estimates. Growth rates are at their slowest since the dot-com bust in 2001. The company recorded a $7.6 …

WTI crude oil has rallied to its highest level since last Tuesday above $105.00 and is now eyeing a retest of recent near $110 highs. Traders cited a report alleging that the EU nations are nearing agreement on a Russian oil import embargo as supporting prices.At current levels in the …

US equities have enjoyed a strong tech-led rebound on Thursday after stronger than expected Meta Platforms earnings. The S&P 500 was last up nearly 3.0% and above 4,300 and the Nasdaq 100 was last up nearly 4.0%.But the major US indices remain on course to post hefty on-the-month losses and …

Analysts at Danske Bank continue to expect the Federal Reserve will hike interest rates by 50bp three meetings in a row (May -next week-, June and July) and 25bp on each of the last three meetings (September, November and December). They are still of the view that risks are skewed …

The US economy contracted at an annualized rate of 1.4% during the first quarter, data showed on Thursday. According to analysts from TD Securities, GDP growth was impacted by large setbacks in net exports and inventories. They point out that the details of the report were actually much stronger than …

Germany has dropped its opposition to an embargo on Russian oil imports, government officials reportedly said according to the WSJ. According to the WSJ, this “clears the way” for a wider EU ban on oil imports from Russia, given that Berlin had been one of the main opponents on an …

European Central Bank Governing Council member Ignazio Visco has added his voice to heated discussions on when the ECB will begin to raise its benchmark interest rate.Rates in the Eurozone have been negative following the region’s sovereign debt crisis, and the ECB has confirmed that it will conclude its net …

Recession is generally defined by two consecutive quarters of economic shrinking. The US economy squeezed by 1.4% in the first quarter of 2022, so it would only take another one to have an official downturn. Not so fast – not a recession, nor the dollar. The US economy grew by …