Inflation in Germany slowed down in August to 0.3% versus 0.9% in July, in line with expectations, but on an annual basis, inflation rose to 7.9% in line with expectations, continuing above 7%. The main reason for the rise in inflation remains the high prices of energy and food products, …
Read More »US shares broadly rally on positive mood
US shares rose, extending last week’s gains, and the dollar retreated with risk on by expectations that inflation is near peaking. The S&P 500 advanced with 10 of the 11 major industry groups in the green. A gauge of the dollar fell for a second day, as all G-10 peers …
Read More »AUD/USD retreats from one-week highs
The Australian dollar is one of the top performers on Friday. The AUD/USD pair has retreated from near 0.6880 and found support at 0.6820.The AUD/USD peaked during the European session at 0.6877, the highest level since August 31 and then pulled back amid a stabilization of the greenback. The retreat …
Read More »Market Drivers – US Session 08/09/2022
The US dollar finished the trading session with mixed performance versus rival currencies. After a seemingly volatile day, the EUR/USD pair is little changed, just below parity after the ECB’s 75 bps rate hike that came in line with expectations.The Canadian dollar surged against the US dollar, with the pair …
Read More »Fed’s Beige Book predicts future US economic slowdown
The Fed’s Beige Book has noted that US economic activity is still under pressure and that “the outlook for future economic growth remained generally weak”.The Fed released its latest summary of feedback from business contacts nationwide as policymakers are considering whether to proceed with a third straight 75-basis-point interest rate …
Read More »European Central Bank Preview: Is the ECB taking tough measures?
money markets expect the ECB to raise rates by 75 bps – the main lending rate from 0.50% to 1.25% and the deposit rate from 0% to 0.75%. In such a scenario – which is the most likely one – the focus will swiftly shift to the next factors. If …
Read More »Could BoC hike interest rate policy above aggregate 3%?
The Bank of Canada is widely expected to decide one more big interest hike on Wednesday in its endeavour to fight inflation which is currently near forty year high and closer to the 2% target.All 31 economists surveyed by Bloomberg expect policy makers led by Governor Tiff Macklem to raise …
Read More »Bank of Canada to deliver a 75 bps hike on Wednesday
The Bank of Canada is expected to issue its latest monetary policy decision on Wednesday. A rate hike of 75 basis points is widely expected. Analysts believe that central bank will slow down the pace of its rate hikes after this September’s meeting, only taking the policy rate to 3.75% …
Read More »Inflation in Turkey touches its highest level in 24 years at 80.2%
Data on Monday showed Turkey’s annual inflation rate rose to a 24-year high of 80.21 percent in August, after the central bank decided to cut interest rates unexpectedly last month, but the data remained below expectations. The Turkish Statistical Institute said consumer prices rose every month by 1.46 percent, compared …
Read More »GBP/USD pressured on Stronger USD
The GBP/USD pair is bleeding on Wednesday following a brief recovery versus the stronger dollar. At the time of writing, GBP/USD is trading at 1.1609 and is recording a 0.4% loss on the day.The sterling pierced the psychological 1.16 round level and faces its worst month since late 2016 against …
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