According to the latest data from the Confederation of British Industry (CBI), released during the Asian session on Tuesday, UK utilities have posted record cost increases in the past three months and are dim optimistic about the future as inflation headwinds look set to further reduce demand. Following the release of the data, Charlotte Dendy, […]
Tag: macroeconomics
NZD/USD: Buyers make up some ground, but not out of the woods
NZD/USD jumped from a six-week low on Monday from around 0.6100. The Fed’s favorite inflation gauge fell, though Powell did not factor in the data, saying a month’s worth of data is not enough to pause. NZD/USD Price Analysis: Still trending down, so a test of year lows around 0.6060 is expected. The NZD/USD rebounds […]
Forex Today: Dollar Strengthens After Last Week’s Gains on Bets on an Aggressive Fed
This is what you need to know to trade today monday august 29: Following FOMC Chairman Jerome Powell’s speech at the Jackson Hole Symposium on Friday, the Dollar Index gained strength and posted weekly gains. The index started the new week on a strong note and reached its highest level in two decades near 109.50. […]
Forex Today: All eyes on Powell’s Jackson Hole speech
This is what you need to know to trade today friday august 26: Markets remain relatively quiet early on Friday as investors remain on the sidelines waiting for FOMC Chairman Jerome Powell to deliver his keynote address at the annual Jackson Hole Symposium. On Thursday, improving market sentiment made it difficult for the dollar to […]
Forex Today: Dollar correction continues, focus on key data release
This is what you need to know to trade today Thursday August 25: The positive change in risk sentiment weighed on the dollar in the early European session on Thursday and caused the Dollar Index to drop towards 108.00. Reflecting the upbeat mood, US stock index futures are up 0.65%-1% on the day. The IFO […]
Forex Today: Markets churn ahead of key events
This is what you need to know to trade today Wednesday August 24: Having snapped a four-day winning streak following disappointing data releases on Tuesday, the Dollar Index (DXY) started to rise early in the European morning on Wednesday. In the absence of high-level data releases, market action turns choppy, with investors remaining cautious ahead […]
GBP/USD rebounds strongly and breaks above 1.1860 after mixed US and UK PMIs
GBP/USD jumps from record lows after US economic data reignites recession fears. US S&P Global PMI data was mixed, although it reignited recession fears. The UK S&P Global Manufacturing PMI slipped into contraction territory. GBP/USD Price Analysis: If it breaks above the 1.1900 level, the 1.1936 level can be tested. The GBP/USD recovered some ground […]
Forex Today: Dollar Buying Continues as Attention Turns to PMI Surveys
This is what you need to know to trade today tuesday august 23: The Dollar Index (DXY) supported the previous week’s gains and rose above 109.00 on Monday. The greenback is approaching the multi-year highs it set at 109.29 in July today, with the dollar remaining strong on safe-haven flows. US stock index futures are […]
Forex Today: The dollar remains firm after last week’s rise
This is what you need to know to trade today monday august 22: The dollar retains its strength on Monday after posting impressive gains against its rivals last week. The Dollar Index rose 2.3% and posted its biggest gain in a week last week. Today it trades slightly higher around 108.20. The Federal Reserve Bank […]
Forex Today: Dollar consolidates gains after Thursday’s impressive rally
This is what you need to know to trade today friday august 19: The Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, gained momentum in the second half of trading on Thursday, rising to its highest level in a month above 107.50. . In the absence of high-level macro […]