The Canadian Dollar flattened on Monday as the new trading week began with a data-light economic calendar. Investors are focusing on rate cut expectations from the Fed with updates to US inflation data due later in the week. On the Canadian front, there was a sharper-than-expected decline in new Building …
Read More »Post-NFP Sentiment Pushes EUR/USD To Fresh High Before retreating
Following the US NFP print, EUR/USD pair surged, although the markets were confused by conflicting data. Although the US NFP revealed an increase in jobs, sharp revisions have reduced risk appetite. On Friday, the EUR/USD pair got some breathing room and surged to a new weekly high close to 1.0980. …
Read More »Gold price consolidates gains ahead of FOMC minutes
On Monday, during a calm North America session, gold price was able to climb up 0.24& to $2017.50, driven by US inflation surpassing forecasts. Given that the USD has declined since last Tuesday, gold’s appeal is increased by the decreased probability of impending Fed rate cuts. In the meantime, traders …
Read More »US stocks slightly recover post hotter than expected inflation figures
Markets are closed on Monday for the Presidents’ Day holiday. Stocks have nearly recovered after last week’s inflation report, with the S&P 500 closing down 0.4% but cracking a new record-high on Thursday. The Dow Jones Industrial Average slipped 0.1% for the week and the Nasdaq Composite fell 1.3%. The …
Read More »EUR/USD falls as PPI signals policy tightening
The EUR/USD pair has fallen to 1.0759 as US inflation data surpasses expectations, indicating sustained Fed attentiveness. January’s Producer Price Index (PPI) increased 0.3% MoM, exceeding estimates, while the core PPI also beat forecasts, jumping sharply to 0.5% MoM from -0.1% in December. The ECB’s cautious approach to rate cuts …
Read More »Canadian dollar declines against surging US counterpart after US CPI data
A surprising CPI inflation reading on Tuesday caught the markets off guard. This week, Canada is conspicuously absent from the economic calendar. The Canadian currency has had a mixed day in relation to the US dollar, although it has performed significantly worse.Following a monthly increase in US Consumer Price Index …
Read More »AUD/USD trades sideways ahead of China’s PPI and CPI data
The AUD/USD pair is moving sideways near 0.6520 in the early Asian session, with Fed officials’ comments not significantly impacting the market. Future market traders expect the first rate cuts for the Reserve Bank of Australia to occur in September, rather than August. The pair consolidates above the 0.6500 psychological …
Read More »Gold is hovering near a one-week low amid the strength of USD
Gold prices maintained their position near a one-week low on Thursday, as they grappled with the influence of a resilient dollar and escalating bond yields. The market’s focus was primarily directed towards the impending release of US GDP data and the outcome of the European Central Bank’s (ECB) monetary policy …
Read More »Gold is heading for its worst performance in six weeks
Gold prices are experiencing a global decline in current trading moments on Monday. Traders are eagerly awaiting the release of the Federal Reserve’s preferred inflation measure later this week, a factor that could impact the central bank’s decisions on interest rates and market expectations for the upcoming weeks. Last week, …
Read More »Financial Markets’ Weekly Recap
The performance of financial markets exhibited a range of dynamics over the past week. Notably, strength was observed in the performance of oil and the dollar, while gold experienced a marginal decline in its gains. Several key factors acted as primary drivers influencing market movements. Among these, the ongoing Red …
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