AUD/USD witnesses a strong sell-off on Thursday and sinks to a near two-year low. Expectations of an aggressive Fed rate hike continue to support the USD and put downward pressure on the pair. Recession fears also benefited the safe-haven USD and pushed flows away from the perceived riskier AUD. The pair AUD/USD appears to have […]
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USD/JPY dips below 128.50 to 2-week low amid risk-off
USD/JPY has been under intense selling pressure on Thursday and has fallen to a two-week low. Risk-off sentiment benefits safe-haven JPY and puts pressure amid falling US bond yields. Expectations for an aggressive Fed rate hike continue to benefit the USD and could offer support to the pair. The pair USD/JPY has seen aggressive selling […]
IEA downgrades oil demand growth forecasts for 2022 by 70,000 bpd
In its monthly report on the oil market, the International Energy Agency (IEA) has revised down the growth projections for oil demand for this year by 70,000 bpd due to the closure of China and high prices. Additional comments Refinery operations will increase by 4.7 million bpd between now and August, but market stress will […]
US dollar index DXY extends rally and hits new cycle highs near 104.50
The DXY index is moving higher and remains supported by risk aversion sentiment. Bond demand drags US yields lower. Weekly jobless claims and product prices stand out on today’s economic calendar. The US dollar index DXYwhich measures the strength of the dollar against a basket of major currencies, accelerates your gains and hits new cycle […]
Breaking News!: EUR/USD falls to its lowest level since January 2017 below 1.0450
EUR/USD witnesses strong selling on Thursday and falls to a new multi-year low. Expectations of an aggressive Fed rate hike and risk aversion continue to benefit the USD. Concerns about the economic fallout from the Ukraine crisis weigh on the euro. The pair EUR/USD has broken out of its one-week trading range and has fallen […]
Forex Today: Dollar Rebounds on Risk Aversion Ahead of US Producer Price Data.
This is what you need to know to trade today Thursday May 12: The dollar regained its strength after Wednesday’s US inflation data and continued to outperform its rivals during the Asian session on Thursday. The dollar index is at its highest level since late 2002, above 104.00, ahead of US April producer price index […]
GBP/USD falls to new two-year low below 1.2200 after weaker UK GDP
GBP/USD weakens as UK data confirms politicians’ economic fears. Preliminary GDP declines to 0.8% in the UK in Q1 vs. 1.0% expected, March monthly figure turns negative. The strength of the dollar due to risk aversion also puts downward pressure on the pair. The US PPI will focus investors’ attention to confirm the strong CPI […]
China: Premier Li is helping push leader Xi Jinping to improve the economy – WSJ
The Wall Street Journal (WSJ) published an article on Chinese Premier Li Keqiang, showing how he helped the economy avoid a noticeable slowdown. “With China mired in its worst economic crisis in recent times, the Mr. Li is helping to pressure China’s authoritarian leader to reverse some measures that moved the country away from Western-style […]
EUR/USD risks further pullback below 1.0470 – UOB
According to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang, the EUR/USD risks further weakness if it breaks below 1.0470. Key comments 24 hour view: “Yesterday, we highlighted that EUR/USD ‘could go lower, but any weakness is expected to be met with support at 1.0500’. EUR/USD fell short of all the way […]
UK: Manufacturing production falls 0.2% mom in March vs. 0% expected
UK industrial sector recovery faltered in Marchaccording to the latest UK industrial and manufacturing production data released by the Office for National Statistics (ONS) on Thursday. Manufacturing production fell -0.2% MoM in March vs. 0% expected and -0.6% recorded in February, while total industrial production fell -0.2% vs. 0.1% expected and -0.3% past. In annual […]
