The world Bank it lowered its 2022 global growth forecast on Tuesday to 2.9% from its 4.1% estimate published in January, Reuters reported. The World Bank said the Ukraine war will reduce per capita income in developing economies by 5.0% from its pre-COVID-19 trend. World Bank President David Malpass said the risks of stagflationthe russian-ukrainian […]
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US: Facing unacceptable levels of inflation and supply chain issues – J. Yellen
The Secretary of the Treasury of the United States, Janet Yellensaid in preliminary version of his congressional testimony that the US economy is facing challenges from unacceptable levels of inflation“, as well as bottlenecks in supply chains, Reuters reported on Tuesday. It added that an adequate budget stance is needed to complement the Federal Reserve’s […]
Gold continues to react to US yields, looks fragile
The price of gold continues to trade above the key support level. The 10-year US Treasury bond yield falls after Monday’s rise. Sellers could act if XAUUSD breaks below $1,840. The price of gold posted daily losses on Monday, but managed to erase a portion of its losses on Tuesday. However, the recent price action […]
EUR/USD Price Analysis: Next support lies at 1.0627
EUR/USD remains on the defensive well below 1.0700. Immediately to the downside emerges support at 1.0627. EUR/USD is under further downward pressure and extends recent pullback below key support at 1.0700. The current bearish move has the potential to extend further and lead to a visit to June low at 1.0627 (June 1) ahead of […]
USD/MXN remains above 19.50, the peso faces a significant barrier
Mexican peso fails to push USD/MXN below 19.50. The dollar is favored by negative climate in global markets. USD/MXN is trading in the 19.60 area, at daily highs after holding above 19.50. The dollar looks stronger on Tuesday in a climate of moderate risk aversion. The Dow Jones is down 0.65% and the S&P is […]
AUD/USD pulls back from post-RBA highs, flirts with 0.7150 support zone
AUD/USD struggled to capitalize on an RBA-inspired intraday rally. A softer risk tone and high US bond yields supported the dollar and capped gains. Market attention will continue to be focused on Friday’s US consumer inflation figures. The pair AUD/USD underwent an intraday turnaround from near the 0.7200 area and fell into negative territory for […]
DXY Price Analysis: With room for further short-term gains
DXY makes new highs at the 103.00 limits on Tuesday. Interim hurdles lie at Fibonacci levels before the 2022 top. DXY adds to the weekly recovery and is already approaching the key 102.00 mark on Tuesday. Considering the ongoing bounce, further gains appear in the offing for the US Dollar Index (DXY) with immediate targets […]
USD/JPY remains near two-decade highs, just below 133.00
USD/JPY gained traction for the third day in a row and soared to a new two-decade high. The recent widening of the yield spread between the US and Japan continued to support the move. A softer risk tone underpinned the JPY as a safe haven and capped amid overbought conditions. The pair USD/JPY remained near […]
GBP/USD recovers from 3-week lows, heads towards 1.2500
GBP/USD fell to near three-week lows but has since recovered to approach 1.2500 as the 21 DMA offers support. Sterling was little affected after British Prime Minister Johnson survived (albeit weakened) a confidence vote. Conditions could remain quite limited ahead of key US CPI data on Friday. The GBP/USD recovered from a brief dip to […]
EUR/JPY Price Analysis: Next level on the upside appears at 145.32
EUR/JPY extends the march above the 142.00 bar. More rally is now targeting the 2015 high beyond 145.00. EUR/JPY keeps marching north well in place for yet another session and posts new cycle highs beyond 142.00 on Tuesday. The cross briefly probed the area just above 142.00 and opened the door for a continuation of […]
