EUR/USD looks to extend bounce to 1.0600 and beyond. The weekly high at 1.0641 emerges as the next major target. EUR/USD extends weekly recovery, although a test/break of the 1.0600 barrier remains elusive for now. If the bounce picks up then the pair should initially target the round level at 1.0600 ahead of the more […]
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US Dollar Index (DXY) Price Analysis: Potential Consolidation Approaches
DXY appears lateralized at the upper end of the recent range. Immediately on the upside comes the yearly high near 104.20. The US Dollar Index (DXY) trades with no clear direction below Monday’s 19-year highs around 104.20. Based on recent price action, the index could face some consolidation in the near term. The break above […]
Fed: 50 basis point hikes in the next two meetings “make sense” as a base case – John Williams
50 rate hikes in the next two Fed meetings “make sense” as a base case scenario, New York Fed President and FOMC member said Tuesday. John Williams, as reported by Reuters. Williams said that his view on the neutral rate in the US is for real interest rates to be around 0-0.5% with inflation moving […]
Fed: When we get to neutral, we can decide to slow down the economy depending on inflation – Thomas Barkin
President of the Federal Reserve Bank of Richmond, Thomas Barkin, said on Tuesday that once the Fed brings the interest rate back to neutral ground, they can decide if they need to slow the economy (i.e. raise interest rates into tightening territory), depending on the level of inflation, as reported by Reuters. The Fed’s policy […]
USD/MXN pulls back from 1-week highs, falls below 20.30
Emerging market currencies get respite from bourses. Mexico: Another rise of Banxico is coming. USD/MXN remains below 20.30. USD/MXN is falling on Tuesday, while stocks on Wall Street are up sharply snapping a three-day losing streak. The pair trades at 20.27, the low, moving away from the one-week high reached hours ago at 20.43. The […]
USD/CAD extends intraday retracement from yearly highs, dips below 1.3000
USD/CAD witnessed an intraday pullback from the new yearly high hit earlier this Tuesday. Boosting risk appetite, falling US bond yields caused some profit taking around the pair. Falling oil prices could undermine the Canadian dollar and limit losses amid the Fed’s aggressive rate hike bets. The pair USD/CAD dipped early in the American session […]
GBP/USD consolidates below 1.2350
GBP/USD is currently trading sideways below 1.2350 as traders monitor the Fed’s speech and Brexit news. For now, dollar consolidation keeps the pair above 1.2300, but fears that the UK may scrap the Northern Ireland protocol are weighing on us. Amid a widely mixed and indecisive feeling about risk appetite, the GBP/USD it is moving […]
S&P 500: Wall Street finally regains ground after three-day plunge
Stocks are set to regain ground after the worst three-day losing streak in years. The dollar is calm, confirming its recent rise, but without setting new highs. Stable metals, near recent lows. Stocks are recovering after the worst three-day run since 2020. Wall Street futures are up 1% on average. The dollar is calm, as […]
Gold Price Analysis: XAU/USD consolidates at $1,860 ahead of Fed member statements
Gold is consolidating in the $1,860 area amid mixed sentiment and hesitation to trade after Monday’s risk-off session. The focus is on an upcoming flurry of speech from the Fed ahead of Wednesday’s release of key US CPI for April. Overall market risk appetite remains mixed and indecisive in the hours leading up to the […]
Fed: We need to be data driven, adjust policy based on circumstances – John Williams
The president of the New York Federal Reserve and member of the FOMC, John Williams, said on Tuesday that the central bank needs to be data-dependent and adjust its actions as circumstances warrant, Reuters reported. The Fed will move expeditiously to bring the Fed Funds target to more normal levels this year, he said, echoing […]
