Forex Market

The US dollar rallied on Tuesday against the yen, euro and other currencies following stronger-than-expected US inflation data that rocked US stocks, bolstered US yields and sent the greenback towards last week’s two-decade peak of 110.79. The price made a high of 110.01 before bears cleaned up across the counterparts …

The AUD/USD stopped the bleeding and jumped off weekly lows at around the 0.6700 figure after the US Producer Price Index report for August eased some of Tuesday’s CPI worries, which sent most risk assets to the red territory, while the US dollar rose above the 110.00 thresholds, on renewed …

Next week, the Bank of England will have its monetary policy decision. Consensus points to a 50 bps rate hike but a 75 bps is not ruled out. Analysts at Danske Bank expect fewer hikes than priced in markets as they emphasise the rising recession risk in the UK. Key …

European Central Bank’s policymaker Francois Villeroy de Galhau said on Wednesday that he estimates the euro area neutral rate at below or close to 2% and added that they could reach it by the end of the year.“Monetary normalization is fully warranted in the euro area, too early to say …

European shares fell at the open on Wednesday after higher-than-expected US inflation data boosted expectations of a bigger interest rate hike at the Federal Reserve next week. Still, a rally in retail stocks led by Spain’s Inditex limited losses. The pan-European STOXX 600 index was down 0.3 percent by 0714 …

Tuesday witnessed the biggest US dollar’s rally since 2020 on the back of fresh economic data released by the US Labour Department highlighting CPI that unexpectedly rose in August. The dollar index was up 1.5% at 109.85 in its biggest one-day percentage gain since March 2020. The American currency, however, …

US Treasury yields reacted very naturally to Tuesday’s inflation data. Yields have soared since the release of the CPI data and through the US session. The 10-year US Treasury yield rose to 3.444%, compared to the last daily close at 3.385%.The yields on these benchmark bonds fell to their lowest …

Tuesday brought CPI (Consumer Price Index) data for August, which details inflation at the consumer level. Wednesday will witness the release of the PPI (Producer Price Index) and that is inflation at the producer level. It is more interested in what manufacturers are paying for the raw materials that they …

The US dollar is firmer on the hawkish sentiment surrounding the Fed’s intentions concerning interest rate policy at next Wednesday’s meeting. The EUR/USD pair has printed a fresh low in midday US session near 0.9973 and fell from 1.0187 high on the day following the US inflation data. At the …

Monthly U.S consumer prices unexpectedly rose in August as declining fuel prices were significantly erased by extra rent and food costs, giving sufficient grounds for the US central bank pursue its hawkish stance and accordingly to decide another interest rate increase next Wednesday.The consumer price index gained 0.1% last month …