Forex Market

The Bank of France announced on Tuesday that it cut the growth forecast for 2022 to 2.3% from 3.4%. In 2023, the central bank expects the French economy to expand by 1.2%, compared to 2% in its previous forecast.The EUR/USD pair reacted by losing its traction and erased a portion …

Federal Reserve Bank of Richmond President Thomas Barkin said on Tuesday that he will remain focused on actual inflation and expectations between now and the July policy meeting, as reported by Reuters.Barkin’s comments don’t seem to be have immediate impact on the US dollar’s performance against its rival currencies. The …

German Economy Minister Robert Habeck said on Tuesday that the reduced gas supply had “another dimension” and that it was an economic attack by Russia against Germany, as reported by Reuters.Habeck has added that the gas supply situation could become worse than the coronavirus pandemic. Markets have not reacted to …

The monthly data published by Statistics Canada showed on Tuesday that Retail Sales in Canada rose by 0.9% in April to C$60.72 billion. This print came in better than the market expectation for an increase of 0.8% and followed March’s expansion of 0.2% (revised from 0%). The publication further revealed …

US President Joe Biden said that he is expected to make a decision this weekend to suspend the federal tax on gasoline, adding that a similar decision should be made based on clear data. It is worth noting that the study of suspending a tax on gasoline comes at a …

Japan’s Nikkei index rose strongly on Tuesday after falling to its lowest level in three months, as investors welcomed the rise in US stock indices and the buying interest in cyclical decliners. The Nikkei ended trading on Tuesday, up 1.84% to close at 26,246.31 points, after rising as much as …

The US dollar has ended the US trading session on Monday with modest losses against most major rival currencies. The better tone of European indexes and a holiday in the US, however, resulted in choppy trading across the board.Commodity-linked currencies got to advance against the greenback, despite the sour tone …

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 …