USD/CHF posts its biggest daily decline since June 15, down 1.16%. The pair updates multi-month lows just below the 0.9400 figure. Headline inflation in the US falls to 8.5% year-on-year, but core inflation remains unchanged. Fed’s Evans: The Fed isn’t done raising rates; Fed funds are expected to be in the 3.25-3.50% range by the […]
Tag: United States
USD/CAD plunges and updates two-month lows after US data.
USD/CAD slumps after hitting a daily high near the 1.2900 mark. The consumer price index (CPI) for July in the US slows down to 0% month-on-month. Despite the US inflation data, ING analysts expect the Fed to hike 75 basis points in September. The USD/CAD tumbled after a softer-than-expected US inflation report, used by investors […]
AUD/USD falls from 0.7000 ahead of US CPI
The Australian dollar remains lower and traded within a tight range. Investors are bracing for the US consumer price index for July. Better-than-expected Australian business confidence data limited downward pressures. The AUD/USD pulls back from weekly highs but trades in choppy trading range as investors brace for US inflation report. This coupled with geopolitical wrangling […]
EUR/USD hovers around 1.0210 as traders brace for US CPI data.
Despite the gloomy market mood, EUR/USD rises in a choppy session. Inflation data from the United States, Germany and Italy are due on Wednesday. EUR/USD Price Analysis: Ranged, but US economic data could rock the boat. The shared currency advanced during the American session, taking advantage of the weakness of the US dollar, which is […]
USD/CAD moves steadily above 50 DMA, ahead of 1.2900
USD/CAD erases part of Monday’s losses and gains 0.24%. Market sentiment is affected and safe haven currencies such as the dollar remain in the driver’s seat. Investors brace for July’s US Consumer Price Index. The USD/CAD up slightly from Monday’s lows amid bearish market sentiment as traders brace for July’s US inflation report. Furthermore, geopolitical […]
US: Unit labor costs rise 10.8% in the second quarter vs. 9.5% expected
Unit labor costs rose at a faster-than-expected rate in the second quarter. The US Dollar Index remains in negative territory but remains above 106.00. Data released by the United States Bureau of Labor Statistics showed on Tuesday that unit labor costs rose 10.8% in the second quarter. This reading followed the 12.7% increase recorded in […]
Gold Forecast: XAU/USD Loses $20 From Daily Highs Following US Jobs Data
The price of gold extends its gains to three consecutive weeks, rising 0.54%. Stellar US jobs data puts more pressure on the Fed, while next week’s CPI is expected. The disputes between the United States and China add more uncertainty to the global economic outlook. Gold prices remained on the defensive late in the American […]
GBP/USD falls below 1.2100 after US NFP report.
GBP/USD is set to end the week with heavy losses of 0.78%. US labor data poured a jug of cold water on recession fears ahead of next week’s CPI. BoE Pill: The bank will reach its inflation target, but “it will take some time”. The pair GBP/USD hit a new weekly low of 1.2002 in […]
US: China’s provocative actions are a significant escalation – Anthony Blinken
US Secretary of State Anthony Blinken has returned to comment, via Reuters, saying that “China’s provocative actions are a significant escalation“. Additional comments The United States has repeatedly told China that not looking for a crisis Pelosi’s visit was peaceful and does not justify China’s extreme response There is no justification for the answer “grossly […]
USA: China has tried to intimidate not only Taiwan, but also its neighbors – Antony Blinken
US Secretary of State Antony Blinken stated today at a meeting on East Asia, as reported by West Official, that China’s reaction to US House Speaker Nancy Pelosi’s visit to Taiwan had been “blatantly provocative”. The diplomat also told the meeting that The US seeks to calm the waters and continues to stand by its […]