Forex Market

The US dollar shed ground ahead of the release of US inflation figures, later recovering somewhat to close the day unevenly. The dollar is stronger against the shared currency, as EUR/USD trades around 1.0830, not far from the year low at 1.0805.Economic DataThe annual rate of US inflation, as per …

The Euro aims to test the YTD low around 1.0806 after dropping below the 1.0900 mark. The US inflation broke the 8% threshold, a level last seen in 1981, which cements a 50 bps rate hike of the Fed at its May meeting.The EUR/USD pair drops to fresh monthly lows …

Otmar Issing said the European Central Bank’s slow response to inflation posed a risk to growth, in an interview with the FT. So, one of the euro’s founding fathers, he said the ECB had “lived in a fantasy” and downplayed the risk of rising prices.Inflation has surged to record highs …

Oil prices are elevated and yet the CAD struggles in the face of a firm US dollar and fresh cycle highs. At 1.2641, the USD/CAD pair is up 0.13% on the day, little changed although in recovery mode from its weakest level in nearly four weeks. This is despite a …

Gold has hit near one-month highs on Tuesday at just under $1980 and is on course for healthy on-the-day gains. The precious metal was supported as US yields pulled back in wake of evidence of easing Core CPI pressures. Gold bulls will now be eyeing a test of the $2000 …

The AUD/USD bulls back off as the US dollar firms up again. The Australian jobs will be a key event for this week, as will the Reserve Bank of New Zealand.At 0.7458, AUD/USD remains in bullish territory, higher by some 0.6% but is losing steam as the greenback recovers in …

Federal Reserve official said on Tuesday the central bank’s top goal is to reduce soaring inflation, and she expressed confidence the central bank can moderate price pressures without triggering an economic downturn.“Inflation is too high,” said Fed governor Lael Brainard, who is awaiting Senate confirmation to serve as the Fed’s …

The Bank of Canada is expected to announce its first oversized interest-rate hike in more than two decades after hawkish comments from the country’s top monetary policymakers and central bankers and growing signals that the economy is overheating. On Wednesday, the Bank of Canada will announce its decision on monetary …

The annual rate of inflation climbed to 8.5% in March, the highest level since 1981. Analysts at Wells Fargo point out that despite wide-ranging price increases again in March, they believe this likely marks the peak in post-COVID inflation. They expect demand for goods to waver as spending pivots back …

Inflation has proven to be one of the most blistering features of the covid economy, testing the White House and Federal Reserve. Gasoline prices hover around $4.00 a gallon for the least expensive grade at several gas stations in the nation’s capital on April 11, 2022 in Washington, DC. Prices …