Ahead of Thursday’s key US Consumer Price Index data scheduled for New York’s morning session, the White House says tomorrow’s inflation data will show a high year-on-year figure.The White House states that its irrelevant month on month number will continue trending lower the rest of the year.The consensus in the …
Read More »ECB’s Schnable: Rate hikes wouldn’t lower energy prices
Isabel Schnabel, member of the Executive Board of the European Central Bank (ECB), mentioned during a Twitter session of Q&A that rising interest rates would not lower energy prices. She added that if current inflation “threatens to lead to a de-anchoring of inflation expectations, we may still need to respond”. …
Read More »USD/TRY Maintains Dull Price Action
USD/TRY navigates a narrow range around the usual 13.50/60 band on Wednesday. The pair remains sidelined around the familiar 13.50/60 territory for an additional session, extending the muted price action that kicked in in mid-January.The Turkish lira appears vigilant and follows the recent developments from a series of meetings between …
Read More »AUD/USD Steadily Climbs Ahead Of US Inflation Report
The AUD/USD has printed gains for the third successive day, so far up 1.5% in the week as market players prepare for Thursday’s US inflation figures. At the time of writing, the AUD/USD is trading at 0.7185.Wednesday’s economic docket is light, except for Fed speakers Michelle Bowman and Loretta Mester, …
Read More »Gold Locked in a Narrow Range as Investors Await Inflation Data
Gold prices were little changed on Wednesday as falling US Treasury yields ahead of the widely expected strong inflation data kept gold investors on the lookout. And the price of gold in spot transactions rose 0.1 percent to $ 1827.20 an ounce, and US futures settled at $ 1828.40. Analysts …
Read More »Gold Nears Two-Week High Ahead of US Inflation Data
Gold prices headed during trading, today, Wednesday, near the highest level in two weeks during the previous session, before the release of inflation data in the United States, which is expected to come in strong this week, despite the fact that the rise in US Treasury bond yields prompted investors …
Read More »EUR/USD Remains Defensive On Stronger Treasury Yields
The EUR/USD pair holds lower ground near 1.1415 during a quiet Asian session opening on Wednesday, after stepping back from a three-month high in the last two days.The pair’s latest weakness could be linked to the higher US Treasury yields and downbeat comments from the European Central Bank (ECB) policymakers.The …
Read More »Wells Fargo Expecting ECB to start moving rates in December
Beyond March, analysts at Wells Fargo expect the European Central Bank to start raising its Deposit Rate shortly after it completes its net bond purchases.An initial 25 bps Deposit Rate hike is expected in December 2022 and another 25 bps hike in March 2023. They consider the divergence between the …
Read More »Gold Settles Near Its Highest Level in a Week Amid Political Tensions
Gold prices stabilized on Tuesday in light of concerns about Russia and Ukraine, which kept the metal, which is considered a safe haven of value, supported near the highest level in a week, which was recorded in the previous session. At the same time, the markets awaited US inflation data …
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 …
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