Forex Market

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 …

The USD/JPY pair jumped after the release of the US June CPI to 137.86, reaching a fresh 24-year high. After the beginning of the US trading session pulled back to 137.10. As of writing, it is moving back to the 137.50 area.Inflation keeps rising, so does the US dollar. Inflation …

Following the Bank of Canada’s (BOC) decision to hike the policy rate by 100 basis points to 2.5% in July, Governor Tiff Macklem is delivering his remarks on the policy outlook and responding to questions from the press.Meanwhile, Senior Deputy Governor Carolyn Rogers argued that part of restoring the balance …

Data on Wednesday showed that Turkey’s unemployment rate fell 0.3 percentage point on a monthly basis in May, while the seasonally adjusted disguised unemployment rose 0.8 percentage point to 22.4 percent. Disguised unemployment was declining for most of the past year, after it peaked at 29.6 percent in January 2021 …