The US economy expanded at an annualized rate of 2.9% in the fourth quarter, the US Bureau of Economic Analysis’ (BEA) first estimate showed on Thursday. This reading followed the 3.2% growth recorded in the third quarter and came in slightly better than the market expectation for an expansion of …
Read More »BoC Preview: Forecasts from four major banks
The Bank of Canada (BoC) is set to announce its interest rate decision on Wednesday, January 25 at 15:00 GMT and as we get closer to the release time, here are the expectations as forecast by the economists and researchers of Four major banks, regarding the upcoming announcement. Wells Fargo …
Read More »January set to prove best Bitcoin’s month since October 2021
Bitcoin rallied more than 37% in the first month of the new year. The famous cryptocurrency is expected to have January as its best monthly return since October 2021.Analysts pointed to the weaker US dollar, inflation expectations, and institutional buying support catalyzing this rally. The fading impact from squeezed short …
Read More »Australian inflation data could push AUD/USD’s rally higher
The AUD/USD pair broke decisively above 0.7000 yesterday. Australia’s Consumer Price Index data for Q4 could fuel the rally if figures come out sticky according to economists. The AUD/USD is trading at 0.7049 at the time of writing versus the previous closing at 0.7024. Tuesday’s fourth-quarter CPI data in Australia …
Read More »Lagarde: Inflation far too high in Europe
The European Central Bank will keep raising interest rates quickly to get inflation under control as it remains far too high according to ECB President Christine Lagarde.On Monday, Lagarde was largely repeating the bank’s most recent policy guidance. EUR/USD has found support on the European Central Bank officials’ comments this …
Read More »Financial Markets’ Weekly Recap, January 16-20
New Zealand’s prime minister, Jacinda Ardern, has said she is resigning, in an unexpected announcement that came as she confirmed a national election for October. At the party’s first caucus meeting of the year on Thursday, Ardern said she “no longer had enough in the tank” to do the job. …
Read More »What could BoC’s Wednesday meeting impact the Canadian Dollar?
The CAD/USD pair is trading at 1.3412 at the time of writing versus the previous closing at 1.3463, down by -0.40%. Next Wednesday, the BoC will hold its monetary policy meeting. Analysts expect a 25-basis points rate hike in line with market consensus. They point out the Canadian dollar may …
Read More »Market Drivers – US Session 19/01/2023
The US Dollar exhibited negative performance on Thursday, as the gloomy mood that ruled financial markets eased later on the day, but most European and US indexes closed in the red territory.Hawkish comments from ECB and US Fed’s policymakers suggested central banks are far from done with their quantitative tightening …
Read More »Fed’s Brainard insists to bring inflation back to 2% target
Fed’s Vice Chair Lael Brainard said that ”there are reasons to think high inflation in the more labour sensitive “core services ex-housing” basket might reflect the pass-through of pandemic and war one-offs and not solely cyclical strength from tight labour markets.“Inflation has been declining over the past several months against …
Read More »Lower T-yields, weaker US dollar drag USD/CHF lowest since November 2021
The Swiss Franc sharply rises versus US dollar and the Euro. Expectations about a less hawkish ECB do support the Swiss Franc, so far, the USD/CHF pair falls for the fifth consecutive day on Wednesday.The USD/CHF is falling by almost a hundred pips on Wednesday after trimming some losses during …
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