Forex Market

Australia’s top central banker on Tuesday flagged a lot more policy tightening in the upcoming months as rates are seen as still “very low” and it was important that higher inflation did not feed into public expectations and wage claims”.The Reserve Bank of Australia moves to implement what it describes …

The AUD/USD begins the week on the right foot, with 0.25% gains. The positive market sentiment due to China’s covid-linked news and the US weighing lifting restrictions on China’s increased appetite for riskier assets.Amid this positive sentiment, US equity futures closed earlier due to a holiday. That, alongside China’s Covid-19 …

The Swiss franc is registering modest gains of 0.20%, as reflected by the falling of the USD/CHF pair. The pair is retracing from the 50-day moving average and last Friday’s high at 0.9708, down towards the 0.9670s, courtesy of a risk-on impulse as shown by European equities closing in the …

“The Fed still has to follow through to ratify the forward guidance previously given but the effects on the economy and on inflation are already taking hold,” St. Louis Federal Reserve Bank President James Bullard said on Monday.Bullard repeated that the US labour market remains robust and added that the …

European Central bank President Christine Lagarde reaffirmed on Monday plans to raise the ECB’s interest rates twice this summer while fighting widening spreads in the borrowing costs of different Eurozone countries.“These decisions underpin our previous commitments to adjust all of our instruments within our mandate, incorporating flexibility if warranted, to …

Bank of England policymaker Catherine Mann said on Monday that her views on the BOE’s rate outlook were not about defending the British pound.“There is an important difference of view on the Monetary Policy Committee (MPC) on the resilience of UK consumption,” Mann added. “Since the May MPC meeting, I …

Japan’s Nikkei closed at a more than five-week low on Monday as energy and chip-related shares led losses as investors struggled to find signs of market action due to a holiday in the United States. The Nikkei index fell 0.74 percent to 25,771.22 points, its lowest closing level since May …

The People’s Bank of China kept interest rates unchanged in June at 3.7% for one year and 4.45% for 5 years, in a move that was expected by most investors. The Central Bank had reduced interest rates for one year during the months of November and December of last year …

China’s imports of Russian crude oil in May hit a record for one month of 8.42 million tons (about 1.98 million barrels per day), up 55 percent from the same month in 2021, according to Chinese customs data. Customs data released on Monday also showed that China imported 260,000 tons …

The US Treasury Secretary expects the US economy to slow” to more “stable growth”. A recession is not “at all inevitable” as the Fed takes increasingly aggressive action to address sharply rising inflation, Treasury Secretary Janet Yellen said Sunday.“Clearly, inflation is unacceptably high,” Yellen continued. “It’s President Joe Biden’s top …