USD/JPY corrects towards 134.00 after verbal intervention from the Bank of Japan. The US dollar and Treasury yields show unrelenting strength on recession fears. All eyes are on the Fed and the Bank of Japan to give the pair a new boost. The USD/JPY turns negative again below 134.50having wiped out all previously recorded gains […]
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GBP/USD falls towards 1.2200 to a fresh four-week low
GBP/USD witnesses strong selling for the fourth day in a row and falls to a new multi-week low. Political jitters in the UK, Brexit woes and disappointing macro data from the country are weighing on the British pound. Expectations of an aggressive Fed rate hike and risk-off sentiment benefited the dollar and added to the […]
USD/CAD Hits Two-Week Highs Amid Falling Oil and Sustained Dollar Buying
USD/CAD gains some traction for the fourth day in a row on Monday. Pullback in oil prices weighs on the CAD and supports the pair’s upside move amid a stronger USD. Expectations of an aggressive Fed rate hike and risk-off sentiment drive safe-haven demand for the USD. The pair USD/CAD extends last week’s strong recovery […]
EUR/USD extends decline to 3-week low below 1.0500
EUR/USD witnesses selling for the third day in a row and falls to a three-week low. Expectations of an aggressive Fed rate hike and risk aversion sentiment benefit the dollar and put pressure on the pair. The lack of signs of a 50 basis point ECB rate hike in September weighs on the common currency. […]
Forex Today: The flight to the safe haven continues at the beginning of the week
This is what you need to know to trade today Monday June 13: The markets remain risk averse at the beginning of the week and US dollar taps into safe-haven money flows. The DXY dollar index is up for the fourth day in a row and is nearing a multi-year high hit on May 13. […]
S&P 500 could fall to 3,150 points if there is a recession – Goldman Sachs
David Kostin, an equity strategist at Goldman Sachs, outlines various scenarios for the S&P 500 Index, and predicts that it will continue to fall to 3,150 points. Key comments “Base-case forecast valuation is expected to remain roughly flat as earnings growth takes the strain and pushes the S&P back to 4,300 by the end of […]
The Fed may have to raise rates to 5% to control inflation – Jeffrey Lacker
Former Richmond Fed President Jeffrey Lacker has said in an interview with MNI on Monday, “my feeling is that they have to go to 5% before they can really think they are at a neutral point“. Additional comments “Even at the current aggressive pace of 50 basis points per meeting, they’re not going to get […]
GBP/USD falls below 1.2250 after bad UK data
GBP/USD has extended its decline after the UK data release. Most of the economic data has been poor. This week, investors’ attention will remain focused on the monetary policies of the Fed and the Bank of England. The pair GBP/USD has trimmed its modest recovery and has fallen to fresh daily lows, below 1.2250, after […]
Bank of Japan: The recent sharp drop in the yen is undesirable and not good for the economy
The governor of the Bank of Japan (BOJ), Haruhiko Kuroda, said on Monday that “the recent sharp drop in the yen is undesirable“, and has added that “not good for the economy“. Additional comments The BoJ must support the economy with monetary flexibility to achieve an increase in wages. The Japanese economy continues in full […]
UK: Manufacturing output falls 1% mom in April vs. 0.2% expected
UK industrial sector recovery remained stagnant in Aprilthe latest UK manufacturing and industrial production data released by the Office for National Statistics (ONS) showed on Monday. Manufacturing production came in at -1.0% MoM in April vs. 0.2% expected and -0.2% registered in March, while total industrial production came in at -0.6% vs. 0.2% expected and […]
