Economic Report

The AUD/USD pair is higher on the day during the American trading session by about 0.2% after traveling from a low of 0.6778 to reach a high of 0.6818 so far. Risk has bounced again in late Wall Street and that has taken the high beta currencies higher. The ongoing …

Wall Street has identified its own X-date in late May, and if there is no major movement in Congress by then, it is expected that some major market volatility is looming. The US government is running out of money, and if Congress doesn’t act to raise or suspend its self-imposed …

The Bank of England (BoE) will release its monetary policy decision on Thursday at 11:00 GMT. Along with the decision, the meeting minutes and the Monetary Policy Report will be made public. Following the announcement, Governor Andrew Bailey of the Bank of England will attend a news conference at 11:30 …

Market sentiment remains divided as debt-ceiling talks fails ahead of the US inflation report. The S&P500 Futures print mild gains, US 10-year Treasury bond yields snap four-day winning streak. Updates about US default, banking fallouts can entertain traders ahead of US CPI for April. Risk profile stays sluggish during early …

US President Joe Biden and top lawmakers failed to break a deadlock on Tuesday in face-to-face talks over raising the $31.4 trillion US debt limit but vowed to meet again with just three weeks before the country may be forced into an unprecedented default.Biden called the meeting “productive” and reported …

The dollar rose on Tuesday after a survey showed that credit conditions in the United States were less bleak than expected, while the pound sterling flirted with its highest levels in a year amid expectations that the Bank of England (central) will raise interest rates this week. Currencies were little …

The Euro is at risk due to a number of unanswered questions, such as what central banks will do next and when interest rates will be cut. PMI surveys have turned sharply lower in China and Europe, and the dollar has fallen out of favour as western central bank policy …

Regarding rising interest rates, that appears to be the thinking going through the minds of Bank of England (BoE) policymakers. Despite persistent inflation and salary increases, the “Old Lady” has predicted a downturn. Accordingly, the Bank of England is expected to raise borrowing prices at its forthcoming ‘Super Thursday’ event, …

The Fed delivered as expected on Wednesday by raising interest rates by 25 basis points and signaling a pause. However, renewed banking developments stole the headlines from the Fed and triggered a fresh wave of risk aversion, as well as bets of rate cuts during the second half of the …

For the thirteenth week in a row, the US exceeded estimates by 253,000 jobs in April. With an unexpected increase of 0.5%, wage growth revealed a healthy labour market. The market-critical Fed rate hike in June is not likely to occur despite the robust data. March’s reading of 236,000 got …