Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The euro rebounded somewhat on Thursday after investors digested the possibility that the European Central Bank would tighten monetary policy aggressively in the near term, while the safe-haven dollar picked up a breath after making big gains in previous sessions.
Financial markets are currently expecting a 106 basis point hike that the European Central Bank may implement after they had expected a 95 basis point hike on Tuesday before ECB official Claes Note said a 50 basis point rate hike is possible in July.
US financial markets are still trying to absorb an expected interest rate hike of 200 basis points by December 2022.
Risk appetite is fragile in the exchange markets, with US stock prices plummeting amid selling as investors worried about rising global inflation and the effects of the Ukraine war.
The dollar index fell slightly by 0.03 percent to 103.77, after climbing 0.55 percent on Wednesday.
The price of the euro rose 0.2 percent to 1.048 dollars.
The yen, which fell sharply against the dollar in March and April, has been swinging within a narrow range recently. And its price fell today 0.2 to 128.5 yen to the dollar.
With regard to cryptocurrencies, the price of Bitcoin fell 0.1 percent to $ 29,232, and the price of Ether fell about 2.5 percent to below $ 2,000.
