Forex Market

The dollar index was down 1.025% at 105.26 at 3:15 p.m. The US dollar broadly fell on Wednesday following a cooler than expected US inflation reading for July that raised expectations of a less aggressive interest rate hike cycle than previously anticipated from the American central bank. US consumer prices …

Fed’s Neel Kashkari said while he is happier to see inflation surprised to the downside, the Fed is far far far away from declaring victory on inflation. He added that ”this doesn’t change my rate hike path”, and he is expecting 3.9% end of this year 4.4% end of next …

According to the Federal Reserve Bank of Atlanta’s GDPNow model, the US economy is expected to grow at an annualized rate of 2.5% in the third quarter, up from 1% in the previous estimate.Atlanta Fed explained in its publication that after recent releases from the US Bureau of Labor Statistics …

Indian companies are moving towards several Asian currencies more often to be able to pay for Russian coal imports, according to customs documents and industry sources. Most companies do avoid the US dollar and cut the risk of breaching Western sanctions against Moscow.One large Indian coal deal involves the Chinese …

US President Joe Biden said on Wednesday that Americans are seeing some signs that inflation may be moderating. “We could face additional headwinds in the months ahead,” Biden added. “We still have work to do but we’re on track.”Earlier in the day, the data published by the US Bureau of …

Inflation in the United States, as measured by the Consumer Price Index (CPI), declined to 8.5% on a yearly basis in July from 9.1% in June, the data published by the US Bureau of Labor Statistics revealed on Wednesday. This reading came in lower than the market expectation of 8.7%. …

The unemployment rate in Turkey fell to 10.3% last June from 10.9% in May, according to data from the Turkish Statistical Institute today, Wednesday, August 10. Data on Wednesday showed that the Turkish unemployment rate fell 0.3% in June compared to the same month last year. The number of unemployed …

All market players are standing on their toes to find clues and directions from the most awaited US inflation data to be released on Wednesday. The US dollar extended its weekly decline throughout the first hours of the trading session, but later the dollar managed to recover some ground during …

The Federal Reserve will get prepared to hold interest rates “higher for longer” in case inflation continue to surprise to the upside, and market pricing will need to adjust accordingly, Fed’s St. Louis president James Bullard said on Tuesday who wants rates at 4% by the end of the year. …

The USD/CAD pair has erased some of Monday’s losses and is now gaining about 0.24% at the time of writing.The diminished market sentiment keeps safe haven currencies like the US dollar in a positive situation. Investors brace for US Consumer Price Index for July, with headline inflation estimated to fall.The …