Continued strong consumer appetite for overseas goods pushed up the US trade deficit in December, sending the full-year import-export gap to a record level in 2021.The December deficit in trade of goods and services grew by 1.8% to a seasonally adjusted $80.7 billion, the Commerce Department said Tuesday, just less …
Read More »America Adds Chinese Entities to The List of Exports That Require Additional Procedures
The US Commerce Department said it has added 33 Chinese entities to what it calls a list of unverified exports that requires US exports to go through additional procedures before goods are shipped to those entities. On Monday, the department said it was taking the step because it was unable …
Read More »Market Drivers – US Session – 7 February
Contrary to the positive surprise provided by the last week’s US NFP and jobs data, the US inflation profile expectations depict a downbeat scenario ahead of the key US Consumer Price Index data for January. Last week’s NFP data continued to support the USD on Monday.Economic DataThe economic docket for …
Read More »US Inflation Expectations Grind Lower
Contrary to the positive surprise provided by the last week’s US NFP and jobs data, the US inflation profile expectations depict a downbeat scenario ahead of the key US Consumer Price Index data for January.The US inflation gauge, as measured by the 10-year breakeven inflation rate per the St. Louis …
Read More »AUD/USD Higher Amid Sluggish Markets, Light Data Calendar
The AUD/USD pair’s prices seesaw around 0.7125-20 during early Tuesday morning in Asia, having reversed most of Friday’s losses the previous day.The risk barometer cheered multiple upbeat catalysts from home to post notable gains at the week’s start. However, a light calendar and the market’s wait for the US Consumer …
Read More »Markets Waiting For Next Catalysts
This week started in slow motion, and the US dollar ended the day mixed across the board. The American currency managed to add some ground against its European rival currencies, although EUR/USD held above 1.1400, while GBP/USD settled at around 1.3530.European Central Bank President Christine Lagarde poured cold water on …
Read More »USD/CAD Bulls Seeking A Break
Bulls are firming up at a critical support area, the bulls came out in force and took the price higher, but as illustrated below, the bears are putting up a fight. The pair’s price rallied but was met with supply at the start of the new week, despite a dip …
Read More »GBP/USD Bears Back Regardless of Hawkish BoE
The GBP/USD has fallen onto the back foot in recent trade and is pressuring back below 1.3515 following a significant correction to 1.3535 as of the early New York session from the 1.3490 territory as traders digest the importance of last week’s main events in the central bank meetings as …
Read More »EUR/GBP Consolidates After Hitting Fresh Annual Highs
The EUR/GBP pair hit fresh annual highs in the 0.8470s but has since pulled back to consolidate around the 0.8450 area, where it trades broadly flat on the session.The latest remarks from ECB President Christine Lagarde before the EU parliament did not add anything new to her remarks in last …
Read More »Lagarde: We continue to see risks to the economy as balanced in the medium-term
Eurozone inflation risks are on the rise but price pressures could still subside before becoming entrenched in expectations, European Central Bank President Christine Lagarde said on Monday. Pointing to mounting inflation risks, Lagarde opened the door last week to an interest rate hike later in 2022 and said that a …
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