Forex Market

An account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on January 25, 2023 was released on Wednesday as follows:“Members framed the decision along two dimensions: • whether to leave the policy rate where it was or to increase it by 25 …

On Wednesday, ECB policymaker Klaas Knot said that the headline inflation appears to have peaked, adding that keeping current pace of hikes into May could well be needed if underlying inflation does not materially abate.Knot’s comments do not seem to be helping the Euro gather strength against its rivals. As …

European stocks hit their highest level in more than nine months on Wednesday, as investors got positive cues from Federal Reserve Chairman Jerome Powell’s comments on Tuesday, while the upbeat outlook of Linda and Akzo Noble led to higher materials stocks. Crude and chemicals. The pan-European STOXX 600 index was …

The US dollar extended its February rally throughout the first half of the day, but turned negative during the US trading session to end the day mixed, as Fed’s Jerome Powell participated in a moderated discussion at the Economic Club, Washington DC.Key DevelopmentsIn his first State of the Union address …

WTI crude got bolstered on the weaker US dollar that got impacted following Fed’s Powell remarks in his speech before the Economic Club of Washington. China’s reopening and Turkey’s earthquake are among the key factors reinforcing crude oil prices.Powell said very strong jobs data released last week simply affirmed that …

Bank of Canada Governor Tiff Macklem defended his stance for interest rate pause, while laying out metrics that may prompt another increase in borrowing costs. Macklem also pointed out that it can take 18 to 24 months to see the full effects of higher interest rates, which have jumped 425 …

Federal Reserve Chairman Jerome Powell is speaking in his first public appearance since Friday’s strong jobs report for January. Economists, on average, were expecting 185,000 job gains, which would have been the slowest pace of growth in more than two years, and for the jobless rate to increase to 3.6%.And …

The EUR/USD bulls will attentively look for any dovish hints in the Fed chair Powell’s speech that could weigh on the US dollar. the pair is trading at 1.0726 at the time of writing.A break of session highs would leave the 1.0720s vulnerable in the near term. The daily ATR …

The USD/CAD pair is holding to gains as traders await clues by Fed Chair Jerome Powell’s speech later on Tuesday. At the time of writing, the pair is trading at 1.3463, registering 0.12% gains versus the previous closing at 1.3445.On Tuesday, the US trade deficit widened, though market participants ignored …

Of particular interest to stock investors, today is what Federal Reserve Chairman Jerome Powell has to say at an event organized by The Economic Club of Washington DC. But, most importantly, they want to know his thoughts on the latest Labor Department report, which showed US payrolls grew by more …