Forex Market

St. Louis Fed President James Bullard said in a new essay that lessons from 1974 and 1983, when the FOMC face similar inflation levels to today’s, demand that policymakers to get ahead of the inflation level.“In particular, the takeaway is that getting ahead of inflation will keep inflation low and …

The Euro gave back earlier gains on Wednesday after European Central Bank President Christine Lagarde said the era of ultra-low inflation that preceded the pandemic is unlikely to return.Speaking at a panel at the ECB Forum in Sintra, Portugal, alongside US Fed Chair Jerome Powell and Bank of England Governor …

Gold reversed from two-day highs and is back near weekly lows as the US dollar surges after comments by key central bankers in their speeches before the ECB Forum from Portugal.Gold prices dropped sharply during the US trading session, erasing daily gains. XAU/USD peaked at $1833, the highest level in …

European Central Bank President Christine Lagarde, FOMC Chairman Jerome Powell and Bank of England (BOE) Governor Andrew Bailey speak on the policy outlook at the ECB’s annual Forum on Central Banking.Key Quotes Powell: “Dollar strength is disinflationary at the margins.”Powell: “We working hard to get smarter about the supply side.”Bailey: …

ECB President Lagarde says that the move away from globalization will end the era of low inflation. She also noted that inflation expectations are higher than before.She said the ECB can move gradually but as uncertainty fades, can be more decisive. At one point she was led towards removing the …

Gold lost some ground and settled around $1,820 per ounce, but crude oil prices kept rising amid supply concerns. G7 leaders discussed an agreement to impose a price cap on Russian oil, as sanctions on the crypto sent crude prices skyrocketing. WTI is now at around $111.60 a barrel.The US …

The British pound extends its losses to two successive days, trading below the 1.2200 mark, after touching a daily 1.2300 high mark and even retreating towards the 1.2190s area in the US trading session. The GBP/USD pair is trading at 1.2189.Market sentiment shifted sour after the disappointing US Consumer Confidence …

The yield on the benchmark 10-year Treasury note was little changed at 3.2%. Meanwhile, the yield on the 30-year Treasury bond gained just over 1 basis point to trade at 3.313%. Yields move inversely to prices.Traders and investors have become increasingly concerned about the anticipated recession in recent weeks as …

On Tuesday, San Francisco Federal Reserve Bank President Mary Daly said she believes the US economy will slow to below 2% annual growth as the central bank hikes interest rates, but there will be enough momentum that it will not stop growing.“I do expect the unemployment rate to rise slightly, …

The Canadian dollar strengthens 0.3% against its American counterpart on Tuesday. The CAD has touched its strongest level since June 13 at 1.2820.Easing COVID-linked restrictions in China boosted the investors’ sentiment. Global shares were higher and the price of oil, one of Canada’s major exports, rose following China’s decision to …