The EUR/USD bounces from levels below 1.08. Scotiabank economists see upside risks. Support looks pretty solid at the 1.07 upper zone. “The Euro has run into solid resistance at the 1.0850 upper zone several times over the past week, but losses remain limited and short-term charts continue to suggest consolidation (bullish pennant) ahead of further […]
Joshua
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
USD/CAD registers a new daily low on the weakness of the dollar and the rebound in oil
USD/CAD pulls back from 1-week highs and is pressured by a combination of factors. A modest rally in crude oil prices underpins the Loonie and acts as a headwind for the pair. The dollar remains on the defensive amid bets on lower Fed rate hikes and puts pressure on. The dominance of the risk averse […]
US: Home starts fall less than expected to 1.38 million
Home starts fell 1.4% in December to 1.32 million. Construction permits fell 1.6% in December to 1.33 million. The dollar rises after the report, and supported by data from the Philly Fed and requests for unemployment benefits. The housing starts they fell 1.4% in December to 1,382,000, better than the 1,358,000 (annual rate) of the […]
GBP/USD struggles for firm direction intraday, stuck in a range below 1.2350
GBP/USD struggles to gain significant traction and range-bound on Thursday. Recession fear weighs on investor sentiment and benefits the dollar, limiting gains. Prospects of further rate hikes by the Bank of England support sterling and act as a tailwind. The pair GBP/USD finds some support ahead of the 1.2300 zone on Thursday and appears to […]
AUD/USD falls to 1-week lows and stands below 0.6900 against a backdrop of risk aversion
The AUD/USD pair continues to lose ground for the second day in a row and sinks to a week low. Recession fears weigh on investor sentiment and keep flows away from the risk-sensitive Aussie. Bets on lower Fed rate hikes continue to undermine the dollar, even if they barely support it. The pair AUD/USD continues […]
GBP/USD: December highs at 1.2445/47 will cap the upside for now – Credit Suisse
In the opinion of Credit Suisse analysts, GBP/USD will remain below December highs for now (1.2445/47). Support at 1.2204 and then at 1.2169 “We stand by our view that the December high in 1.2245/47 is likely to remain a hard barrier and therefore we continue to expect this level to cap the upside for now, […]
BoE: The recession will be shallow in historical terms – Andrew Bailey
December’s drop in inflation is the start of a sign that the corner has been turnedsays the Governor of the Bank of England (BoE) Andrew Bailey. Featured Statements Inflation will most likely fall fairly rapidly this year, probably from late spring. There is now more optimism that we will get through next year on an […]
EUR/USD trims gains, remains above 1.0800 after ECB and Lagarde minutes
The dollar stable against the yen and the European currencies. Lagarde ratifies the path of raising interest rates. ECB minutes suggest some initially wanted a stronger December hike EUR/USD remains sideways, in a wide range. EUR/USD hit a high of 1.0838 on Thursday before easing back to 1.0803, unaffected by Lagarde’s comments and ECB minutes […]
ECB Minutes: Several members initially expressed wishes for a 75 basis point hike
A large number of members initially wanted to raise the rate by 75 bp at the December meeting. Minutes show mistrust regarding long-term inflation projections. The euro will not be affected by the minutes. The minutes of the last meeting of the Governing Board of the European Central Bank (ECB) showed that a large number […]
A stronger yen is justified if the new BoJ governor proposes a monetary policy reversal – Commerzbank
Yen losses after yesterday’s Bank of Japan meeting did not last long. As reported by Commerzbank economists, Yen investors are likely to focus on the successor to current BoJ Governor Haruhiko Kuroda. The yen is torn between hope and presentiment “The yen is defending the gains it made after the December meeting and continues to […]
