Forex Market

The dollar slid lower on Friday as investors evaluated how high the Fed is likely to raise interest rates by when it meets later in July. Investors also took profits after a strong USD’s rally that sent the American currency to a two-decade high.The dollar has jumped as the Fed …

The USD/JPY has gained 1.80% in the week, extending its rally to the seventh consecutive week. The USD/JPY retreats from highs at around 139.38, towards the middle of the 138.00-139.00 range on Friday, as Wall Street closes the week with gains between 1.83% and 2.15%, underpinned by positive data that …

The USD/CAD pair extends its decline from weekly highs around 1.3220s reached on Thursday, spurred by elevated US PPI data, which showed that inflation is far from peaking, triggering an uptick in expectations of a Fed 100 bps hike, which later eased as Fed policymakers pushed back against those assumptions.The …

University of Michigan’s Consumer Confidence July report has showed an unexpected modest rebound in the main index. Inflation expectations are cooled. This could represents welcome news for Fed’s policymakers and it makes the pressure to go big at the next FOMC meeting less intense after this week’s scorching CPI reading.At …

San Francisco Fed President Mary Daly said on Friday that she is not concerned above “over cooking things” on rate hikes. Daly also noted that US consumers continue to spend and that the labour market is still robust.However, Daly mentioned that “Inflation is too high” and that the Fed is …

The dollar index fell during Friday’s trading, but it is heading to record its third weekly gain, benefiting from its strong rise throughout the week, with increasing expectations of a rate hike by the Federal Reserve. The index is up 4% in the past three weeks, marking its biggest gain …

Gold prices fell on Friday, July 15, and remained on track for the fifth consecutive weekly decline, as the continued rise in the dollar and fears of a sharp rise in US interest rates affected the demand for bullion. And the price of gold in spot transactions fell 0.3% to …

The Chinese economy contracted sharply in the second quarter of this year 2022, while annual growth slowed significantly, highlighting the huge losses in economic activity due to the widespread closures to contain the Corona virus, which shook industrial production and consumer spending. Official data released Friday showed that China’s gross …

Recession-linked fears have put the US dollar on the bullish path throughout the first half of the day, although cooling expectations of a 100 bps rate hike in the US triggered a corrective slide. The EUR/USD pair plunged to 0.9951 but finished the day at around 1.0020.CME FedWatch is now …

Producer price pressures are still too strong to delay any Fed’s future rate hikes. The US dollar could continue to receive support from the recession-linked fears in and outside the United States. Gold has been pressured on Thursday due to a rising US dollar and hawkish sentiment surrounding the Fed …