Forex Market

Consumer sentiment data are not normally trading events on most calendars, however, under the current feverish markets, almost any unexpected result will generate a reaction. If the Michigan Index is worse than expected it will spark fears of consumer led recession prompting further equity declines and the US dollar’s status …

The Federal Reserve Chair Jerome Powell said on Thursday that the US central bank’s battle to tame inflationary pressures would “include some pain” as the impact of higher interest rates is being felt, but that the worse outcome would be for prices to continue speeding ahead.”“We went through periods in …

President of San Francisco Fed, Mary C. Daly stated that there is no reason to justify altering the course for 50 bps at the next two FOMC meetings, adding that the debate between 50 bps-75 bps is not a primary consideration. Daly reiterated that she still wants to reach a …

The Bank of Mexico sets the benchmark interest rate at 7%, although Reuters reports that the board was not unanimous on rate decision with one member of the board voting to hike rates to 7.25%.Preliminary information suggests that economic activity rebounded during the first quarter of 2022. Given the growing …

Gold price is losing 1.60% on Thursday, falling from a high of $1,858.87 to a fresh cycle low of $1,822.27. The US dollar is bid and climbed to fresh two-decade highs on Thursday as investors flock to the safe-haven currency in the face of surging inflation.Wednesday’s data bolstered market’s expectations …

US Treasury Secretary Janet Yellen mentioned on Thursday that the Financial Stability Oversight Council (FSOC) is concerned about the functioning of the Treasury market. While Yellen testifies, stocks erased gains printing fresh YTD lows and the dollar strengthened. The DXY is at multi-year highs above 104.70. The 10-year US yield …

Wells Fargo’s analysts believe that the US dollar can strengthen against G10 and emerging market currencies. They consider the aggressive monetary policy tightening from the Fed, safe haven capital flows as well as markets that are mis-priced for interest rate hikes abroad should all result in a stronger greenback going …

The USD/CAD pair has stabilized just below multi-month highs in the low 1.3000s on Thursday, as a downturn in global macro risk appetite coupled with the strong performance of the safe-haven US dollar offered the pair support.Both US CPI and PPI data over the past two days showed an (as …

Japan’s Nikkei fell to its lowest level in nearly two months on Thursday, after major technology stocks followed in the footsteps of their US counterparts, which fell sharply overnight. The Nikkei fell 1.77 percent to close at 25,748.72 points, its lowest since March 15. The broader Topix index fell 1.19 …

The US dollar closed with gains against most major rival currencies, although price action was choppy across the market. Economic DataThe US dollar rallied after the release of CPI data at 8.3%, higher than the estimates. The monthly figure was up 0.3% against the 0.2% expected. Finally, the annual core …