What you should know on Wednesday, March 16: The dollar started the day a foot behind, but managed to regain lost ground during US trading hours. EUR/USD is trading around 1.0940, while GBP/USD is trading at 1.3035. President Vladimir Putin said that kyiv is not serious about finding a mutually acceptable solution. The news dampened […]
Tag: Fed
GBP/USD recovers from yearly lows, rises to 1.3075-80 area amid modest USD weakness
GBP/USD staged a modest recovery from the 1.3000 level, or a new low since November 2020. Upbeat UK jobs report reaffirmed BoE rate hike bets and extended support to sterling. Diplomatic hopes in Ukraine, falling US bond yields undermined the safe-haven dollar. The pair GBP/USD added to its intraday recovery gains and rose to a […]
USD/CAD trims daily gains, downside remains limited amid falling oil prices
USD/CAD struggled to preserve modest gains at a multi-day high amid a weaker USD. Weak US Treasury yields, Ukraine diplomacy hopes weighed on the safe-haven dollar. A drop in oil prices undermined the loonie and helped limit the pair’s decline. The pair USD/CAD trimmed a significant portion of its intraday gains to multi-day highs and […]
XAU/USD falls to almost two-week lows around the $1,925 region
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Gold lost ground for the third day in a row and fell near more than a week’s low on Tuesday. Hopes for Ukraine diplomacy weigh on the safe-haven precious metal amid rising US bond yields. Expectations for the Fed to start tightening should now act as a headwind for gold. The price of gold (XAU/USD) […]
GBP/USD clings to modest recovery gains near 1.3050, lacks follow-through
GBP/USD staged a modest rebound from the new yearly low hit earlier this Monday. The risk appetite drive undermined the safe-haven USD and extended support for the pair. The rally lacked bullish conviction amid the Ukraine crisis and before the BoE/FOMC. The pair GBP/USD it maintained its modest recovery gains early in the American session […]
USD/CAD pulls back from daily highs, remains sideways around 1.2750
USD/CAD gained some positive traction on Monday, although it struggled to capitalize on the move. The risk-on momentum dented the demand for the safe haven USD and capped the pair’s uptrend. Weaker oil prices undermined the loonie and extended support amid expectations of the Fed’s hawkish line. The pair USD/CAD traded between tepid gains/minor losses […]
NZD/USD at session highs near 0.6870, all eyes point to 0.6900
The NZD is outperforming in tandem with its commodity-sensitive G10 peers, despite little commodity-inspired price action on the day. NZD/USD is at session highs near the 0.6870 area and points to a break towards resistance above 0.6900. The NZD is outperforming some of its more commodity-sensitive G10 peers like the Aussie and Loonie on Thursday, […]
Fed to make four rate hikes in 2022 despite war – Morgan Stanley
Morgan Stanley CEO James Gorman said on Tuesday that the US Federal Reserve (Fed) should stay on track for a series of interest rate hikes this year even though the war between Russia and Ukraine has triggered geopolitical and economic risks. Featured Comments “Rates have to be raised, but they don’t want to put the […]
GBP/USD falls below 2021 lows to 1.3160 ​​zone, tests 1.3100 level
GBP/USD broke below key long-term support (2021 lows) on Monday and is now testing the 1.3100 level. As world commodity prices continue to rise amid the Russo-Ukrainian conflict, fears of stagflation are particularly acute in Europe. Recent events have also clouded the prospects of the BoE tightening more than the Fed. The GBP/USD It broke […]
USD/JPY rises towards 115.50 as US yields rise,
USD/JPY pulled back towards 115.50 on Monday as US yields and commodity prices rose, favoring the dollar against the yen. The pair remains well within recent ranges, with both currencies receiving a bid related to the uncertainties of the Ukraine war. Aside from geopolitics, Thursday’s US inflation data is a key event risk to watch. […]
