Forex Market

The US dollar has reclaimed 99.00 on expectation of strong US Services PMI on Tuesday. A preliminary estimate for the US Services PMI is 58 against the prior print of 56.5. Nearly 80% of the US economy revolves around services, which heightens attention around the US ISM services PMI as …

The release of the Federal Reserve’s latest FOMC meeting minutes on Wednesday will be a key event this week. At that meeting, the central bank raised interest rates as expected. Wells Fargo pointed out the importance of the additional information that will contain the minutes regarding the balance sheet runoff. …

Gold remains firm in the aftermath of another US strong jobs report issued last Friday. News headlines on war crimes and the potential for more sanctions in the context of East Europe’s tensions are set to keep haven flows strong.Hawkish Fed backdrop is increasingly weighing on the upside momentum of …

The EUR/USD pair is under strong selling pressure, falling below the 1.10 threshold. Below here, the way is clear for a significant slide to the 1.09 level. Key support at 1.0805 remains vulnerableLast Thursday’s rejection of the upper 1.11s (bearish outside range session) suggests a renewed bear phase for spot …

Data showed on Monday that annual consumer price inflation in Turkey jumped to a 20-year high of 61.14 percent in March, driven by higher energy and commodity prices in the wake of the Russia-Ukraine conflict, compounding the impact of the lira’s collapse late last year. The rate of inflation has …

GBP/USD fell during US trade on Friday, as the US dollar strengthened versus the majority of its G10 counterparts. following strong US economic data.The US dollar benefitted from a surge in US yields, particularly at the short-end of the curve. The bond market moves reflected a market interpreting Friday’s data …

The US economy gained 431000 jobs in March, on top of upward revisions and other upbeat data. There is nothing in the data suggesting that the Fed will refrain from a 50 bps rate hike. The US dollar is set to gain ground as traders take risks off the table …

One of the more reliable warning signals for an economic recession is shining brighter. The yield curve is watched for clues to how the bond market is feeling about the US economy’s long-term prospects. Should Markets Panic?Fed Chair Jerome Powell would say no. Last week, he said that he pays …

According to analysts from TD Securities, today’s numbers reinforce the strength of the labor market. They forecast a 50 bp rate hike in May and June. Data released on Friday showed employers added 431000 jobs during March in the US. The unemployment rate fell to 3.6%. Key Quotes: “We think …

The USD/JPY recovers after dipping 350-pips in the week, rallying above the 122.00 mark on a buoyant market sentiment and the stronger US dollar, lifted by solid US macroeconomic data and prospects of the Federal Reserve hiking rates by 50-bps in the May meeting. The USD/JPY pair is trading at …