The US dollar strengthens on Friday amid risk aversion and higher US yields. Positive employment report partially offset by a weaker reading of ISM Service PMI. The EUR/USD pair failed to recover the 1.0750 territory and pulled back during Friday’s American treding session toward the 1.0700 level. The pair is …
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The US dollar remained weak on Tuesday. The EUR/USD pair rallied beyond 1.0700 as more ECB officials vowed for a 50 bps rate hike. The GBP/USD pair, however, fell following softer-than-anticipated local data to end the day in the 1.2520 price zone.Economic Data S&P Global released the preliminary estimates of …
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The British sterling retreated on Thursday after the Bank of England hiked 25-bps interest rates in a 6-3 split decision. However, the UK central bank’s projections of a probable UK recession in 2023 shifted sentiment negatively, spurring a 280-pip drop from near weekly highs from 1.2630s to below 1.2350. At …
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The headline ISM Services Purchasing Manager’s Index (PMI) fell to 57.1 in April from 58.3 in March, below expectations for a slight rise to 58.5, according to the latest release by the Institute for Supply Management (ISM). Subindices: The Business Activity Index rises to 59.1 from 55.5 in March. The …
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The Chicago Business Barometer, also known as the Chicago PMI, fell to 56.4 in April from 62.9 in the prior month. Economists had expected little change, with analysts polled by the Wall Street Journal forecasting a 62 reading. The index is 14.4 points below it’s reading from April 2021. The …
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Total assets on the Fed’s weekly balance sheet as of April 20, released this afternoon, declined to $8.955 trillion, roughly the same as on March 16 and below the levels of March 23 and April 13. Beyond the week-to-week ups and downs, caused by the peculiarities of Mortgage Backed Securities …
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The USD/CAD pair rallied roughly 140 pips on Friday to hit its highest level in over one month above the 1.2700 mark. That marks the largest one-day percentage gain since November. The pair rallied as a function of risk-off flows, with recent BoC hawkishness and strong data failing to support …
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The economic calendar looks loose this week with most of the interesting data coming from the housing sector, although mortgage rates are over 5%, markets still have some generalization effort to do in order to get events to make sense.Because of the long holiday, which seems to be getting stronger …
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The GBP/USD pair is gaining up some 0.18% in the week amidst a thin liquidity trading session. A buoyant US dollar and risk-aversion weighed on the British pound in the week. GBP/USD Price Forecast: To remain downward biased but a double bottom looms.The British pound remains defensive, trading below the …
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The US dollar is the most prominent winner on Tuesday, firmly up against all of major rival currencies. Diminishing chances of a diplomatic solution to the Russia-Ukraine conflict and central banks’ aggressiveness were behind the market’s movements during the US trading session.Economic DataUS Institute for Supply Management (ISM) has unfolded …
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