The US dollar is maintaining the best performance across the board. Economists forecast that the next phase of US dollar’s resilience will be less linear than it has been in 2022.In the light of Thursday’s CPI reading, Fed has to keep going at 75 bps increases and the US dollar …
Read More »Market Drivers- US Session 12/10/2022
The US session left the American Dollar slightly changed on Wednesday, despite some noise coming from major central banks. Investors await US inflation data, which could provide fresh clues on the policy track to be followed by the Federal Reserve in next policy meetings.The EUR/USD pair remains stable at around …
Read More »CPI Preview: Why does it matter?
Rising rents are expected to represent a considerable factor behind the jump in September consumer prices. The awaited consumer price index will be released Thursday at 8:30 a.m. ET, and it will attract full attention from investors as a key input data ahead of next Fed meeting on November 1 …
Read More »Gold shines as the dollar declines ahead of the Fed minutes
Gold prices rose on Wednesday, supported by a slight decline in the dollar, as investors looked forward to the release of the minutes of the Federal Reserve’s monetary policy meeting for the month of September, as well as inflation data, for indications on the path of raising interest rates. And …
Read More »Market Drivers – US Session 11/10/2022
The US Dollar is strong at the end of Tuesday after intraday reverse that kept it in the red territory for most of the US trading session. The American Dollar extended its advance against its safe-haven rivals, with USD/CHF now quoting at 0.9960 and USD/JPY at 145.80.US Treasury bonds fell …
Read More »EUR/USD catches minimal gains on BoE’s Baily remarks
The EUR/USD pair is barely up 0.08% on Tuesday, following BoE’s Baily remarks, which deteriorated the market sentiment. During the European session, the ECB Chief Economist Philip Lane said that the ECB would impact the markets by hiking rates than selling its hefty pile of bonds on Tuesday. Given that …
Read More »Fed’s Mester: Risk ahead if Fed doesn’t sufficiently hike rates
Federal Reserve Bank of Cleveland President Loretta Mester reiterated on Tuesday that policymakers have not achieved much in their endeavors nor made any progress on lowering inflation.The US Dollar Index stays under bearish pressure despite these hawkish comments and was last seen losing 0.43% on the day at 112.70.Key Quotes“Monetary …
Read More »Gold falls as the dollar rises amid expectations of rate hike
Gold prices fell slightly on Tuesday, weighed by gains in the dollar amid expectations of further interest rate hikes, while caution prevailed ahead of key inflation data due later this week. Spot gold prices fell 0.1% to $1,665.89 an ounce by 0612 GMT, after touching the lowest level since October …
Read More »China is accelerating the pace to control new Corona cases across the country
Coronavirus cases are increasing across China, prompting many local authorities to tighten control over movement. According to a model from Nomura, about 4.8% of China’s GDP was negatively affected by COVID controls as of Monday, October 10. This is up from 4.3% last week. According to official announcements, three districts …
Read More »USD/CAD Rallies On Stronger US Dollar, Declining Oil Prices
As the US dollar hits one-week high at 1.3780 lower oil prices persist and hawkish Fed hopes are undermining the CAD, the USD/CAD pair is rallying to 1.40 before dropping to 1.32. The US dollar remains dominant across the board, with the market pricing in another aggressive rate hike by …
Read More »