Forex Market

U. S. WTI sharply advances in the New York session, up by almost 2%, trading at $82.93 per barrel. Earlier, Tuesday, oil retreated under the $81.00 psychological figure, but later found support at the 1-hour 50-simple moving average at $80.99, which capped the downward pressure on the U. S. crude …

On Wednesday, the U. S. economic scene will witness the latest release of the Consumer Price Index, CPI, for October. This data is awaited by investors and traders, as the Federal Reserve dovish tone spurred a selloff in the bond market, while US Treasury yields fall.CPI is unlikely to offer …

The U. S. dollar was wavering between 93.90 and 94.10 in the New York session after data showed US producer prices increased solidly in October. While this was indicating that high inflation could persist for a while amid tight supply chain difficulties related to the pandemic, there were no great …

San Francisco Fed President Mary Daly was speaking at the National Association of Business Economists virtual meeting.Daly said it is too early to know how far the US economy is from full employment, adding that there won’t be better clarity until the middle of next year.“It’s going to take time …

Rate hike chances are gaining more appeal throughout financial markets for the BOE after the November meeting, given the actual inflation profile, in which there was a 95%+ chance of a 15-bps hike. The European Central Bank has made clear that it does not intend on raising rates anytime soon, but …

Isabel Schnabel said that house prices need more attention from financial stability and price stability viewpoint. Schnabel indicated that owner-occupied housing would have contributed between 0.4 and 0.5 pp to data released by the Harmonised Index of Consumer Prices (HICP).The member of ECB’s executive board also insisted that monetary policy …

The Bank of England will begin a consultation next year to assess the case for a central bank digital currency (CBDC).If it is concluded that there is feasibility for a digital pound, the earliest that one could be rolled out is the second half of the decade, the Bank of …

Andrew Bailey has insisted that the Bank of England will raise interest rates if expectations of higher inflation drive up wages.The BoE’s Governor stressed that policymakers would intervene to avoid the prospect of heightened price growth becoming “generalized” across the British economy.He was participating in a virtual question and answer …

With central banks having already said their piece, seasonal, valuation and positioning still looks favorable for the USD. On these measures, the CHF looks vulnerable to a reversal.CHF could be a major laggard in the coming weeks, yet the CHF is the most overloved currency on most positioning dashboard. It …

The U.S. Federal Reserve looks at a wide range of indicators trying to extract as much observations as possible on how close the economy is to reach full employment. Federal Reserve Chair Jerome Powell said Tuesday that the central bank will look beyond headline numbers to determine when it has …