Forex Market

As of this writing, the EUR/USD is fluctuating at 1.0954, ahead of the US Employment and ISM Services PMI data. An important drop in US job openings suggests that the US labour market is currently cooling. The recent increase in the price of oil may cause inflation in the Eurozone, …

The policy rate was maintained by the Reserve Bank of Australia at 3.60%. Inflation has reached its high, the labour market is still extremely tight, and additional tightening may be necessary, according to the RBA’s Statement.The Reserve Bank of Australia kept interest rates constant on Tuesday, thus the AUD/USD pair …

In the American session, the USD/CAD pair picked up steam and crossed the 1.3450 level. With dismal US statistics, the US Dollar Index remains stuck in the red far below 102.00. WTI crude fell to around $80 after rising earlier.After Monday’s steep loss, USD/CAD was rather calm on Tuesday during …

The Bank of England Chief Economist Huw Pill said on Tuesday that caution is still needed in assessing inflation prospects on account of the potential persistence of domestically generated inflation, as reported by Reuters.GBP/USD preserves its bullish momentum on Tuesday and was last seen rising 0.75% on the day at …

The Turkish Exporters Association said on Tuesday that the country’s exports to Russia jumped 262 percent year-on-year in March, reflecting the sharp increase in bilateral trade since Russia’s invasion of Ukraine last year prompted Western sanctions against Moscow. Türkiye opposes the war but also opposes Western sanctions. A senior export …

At its April monetary policy meeting, the Reserve Bank of Australia (RBA) board members decided to leave the Official Cash Rate (OCR) unchanged at 3.60% after ten consecutive interest rate hikes so far. Markets had placed around an 85% chance the central bank will stand pat on rates this Tuesday. …

On Monday, OPEC+ surprised the markets by substantially raising crude oil prices, yet Wall Street continued to advance. The regular suspects will once again be the focus on Tuesday. The Reserve Bank of Australia (RBA) will hold its monetary policy meeting, while the Eurozone’s February Producer Price Index will provide …

With a positive start to the important week, the GBP/USD pair continues to climb. OPEC+ decision, despite driving up oil prices, fails to support the US dollar. The two appear to dismiss criticism of Brexit, pessimistic UK inflation projections, and a strong US dollar.Weaker US data, rates, and declining hawkish …

The bearish pennant on the AUD/USD is still active. The pair rose to a 4-week high of 0.67585 as the US dollar fell on Monday, giving up gains made after unexpected cuts to OPEC+ oil supply. According to US data, manufacturing and construction spending decreased, and the US economy continued …

As the US economy tightened, the S&P Global and ISN Manufacturing PMIs dipped into the recessionary range. Following weak US manufacturing data, the yields on US Treasury bonds and the Dollar both plunge.After reaching a daily high of 0.9196, the USD/CHF fell by 0.17% due to lower-than-expected inflation in Switzerland. …