Economic Report

The AUD/USD pair has seen a surge in value as markets continue to anticipate the Federal Reserve cutting interest rates possibly in June. However, the Reserve Bank of Australia is striking a more hawkish tone, suggesting that rates may even need to rise. The pair is 0.40% up, trading at …

Bitcoin surged to a record high for the third time in five days before traders seized the opportunity to capitalize on recent gains. After touching $73,650 during Tuesday’s trading session, the cryptocurrency was pushed below the $70,000 mark. Influx of Funds and ETF Success: The cryptocurrency’s ascent to new heights …

Dollar Stability Amid Inflation Surge: The dollar showed signs of stability against major currencies on Wednesday as traders gauged the potential impact of higher-than-expected inflation data on the Federal Reserve’s interest rate decisions slated for June. Surge in US Consumer Price Index: February witnessed a robust rise in the US …

The CPI report’s inflation data reveals greater price growth in February, indicating that the road to more reasonable consumer price increases following a pandemic-induced jump may remain rough. According to the Labour Department’s consumer price index, overall prices increased 3.2% over the previous year, slightly higher than 3.1% in January. …

Despite higher-than-expected February inflation data, US stocks continued to rise, with the S&P 500 rising nearly 1%, the Nasdaq Composite climbing 1.4%, and the Dow Jones Industrial Average increasing 0.6%. Treasury yields also rose, with the 10-year yield rising 4 basis points to trade around 4.15%. Gold prices fell 1% …

The U.S. dollar remained relatively stable amidst turbulent trading on Tuesday, initially strengthening earlier in the global session. However, it later retraced its gains following the release of data indicating higher-than-expected inflation in the world’s largest economy. Following the data release, the greenback experienced an initial surge but subsequently declined. …

Correction and Profit-Taking Processes Drive Sterling Lower In the European market on Tuesday, the pound sterling faced downward pressure against a basket of global currencies, extending losses for the second consecutive day against the US dollar. This decline comes as the pound moves away from its eight-month high, driven by …

Japanese Officials’ Comments Dampen Expectations of Policy Shift The yen experienced its most substantial daily decline against the dollar in a month on Tuesday, following remarks from Japanese officials that tempered expectations of an imminent shift in monetary policy by the Bank of Japan (BOJ). Dollar Stable Ahead of US …

Japanese Yen Weakens Amidst BOJ Comments, Other Asian Currencies Remain Stable On Tuesday, most Asian currencies saw minimal movement while the dollar stabilized as markets awaited crucial U.S. inflation data, which could offer indications of the Federal Reserve’s stance on interest rates. Japanese Yen Retreats After BOJ Comments The Japanese …

The BTC/USD pair has risen past $72,000, setting a new record, but this is a long way from the top that some analysts of the biggest cryptocurrency in the world had predicted. By year’s end, Standard Chartered believes bitcoin will hit $100,000, while research company Fundstrat has set a target …