Forex Market

“I think it is plausible that we have a growth recession where it goes below longer-run average but doesn’t go negative,” Federal Reserve Governor Christopher Waller said on Thursday. Waller added that markets would also price a 100 basis points rate hike in July, Waller is also open to a …

The US Census Bureau will release the June Retail Sales report on Friday. Economists and researchers of six major banks have provided their forecasts regarding the expected data. Retail Sales are forecast to rebound to 0.8% in June with the ex-autos to 0.6% and control rising to 0.3%. TDS“We look …

Gold prices fell 1% on Thursday, after US Treasury yields and the dollar rose, with expectations for gold already damped by fears that the US Federal Reserve will resort to a larger interest rate hike this month to tackle rising inflation. Spot gold fell 1% to $1,718.69 an ounce by …

The Bank of Canada hiked its policy interest rate by 100 bps to 2.5% in July, compared to the market expectation for a rate increase of 75 bps. The BOC acknowledged that it had underestimated inflation since the 2021 spring because of global factors. USD/CAD slid to 1.2933, and trades …

In the UK, the Royal Institute of Chartered Surveyors will publish its house price balance, also for the month of June. The European data calendar will light with only consumer price data for June due out in Finland, Ireland and Sweden.All eyes on Thursday will focus on the US inflation …

“I haven’t seen any solid proof that inflation has reached its peak,” said Cleveland Federal Reserve President Loretta Mester said while speaking at the Bloomberg interview.Mester’s comments exert downside pressure on the EUR/USD as it fades the previous day’s corrective pullback while retreating to 1.0050 during the early Asian session …

The yield on the benchmark 10-year note slid by 0.05 percentage points to 2.91 per cent. The two-year yield has been higher than the 10-year yield since last week. This occurrence is widely known in the market as “an inverted yield curve” and constitutes a closely watched signal of recession …

According to the Fed’s Beige Book, released on Wednesday, wages and other prices gains were seen across most of the 12 districts. As for the overall economic outlook; the Fed said that the US economy grew at a modest pace since mid-May but several of the central bank’s regional districts …

Richmond Federal Reserve president Thomas Barkin told Wall Street Journal that he believes headline and core inflation is too high.“I definitely see signs of softening,” Barkin said, with the evidence “most pronounced in lower income households” and in parts of the economy that saw demand surge during the pandemic.Barkin also …

Gold Price sharply bounced during the last hours and stabilized in the positive territory for the day. The precious metal, earlier, bottomed at $1,706 following US inflation data and then redounded rising by $40 within a few minutes. Gold peaked at $1,745, the highest level in three days. Volatility in …