Share: The White House updated its forecast for CPI inflation from 3.0% to 3.3% for 2023 and 2.5% from 2.3% for 2024. Back in March, the White House stated that the 2.3% CPI-U target was consistent with the Federal Reserve’s 2.0% PCE target. Crypto … [Continue reading]
US Department of Justice demands FTX founder Sam Bankman-Fried be jailed until October trial
Share: The US Department of Justice highlighted Sam Bankman-Fried’s attempts at influencing witness testimony using his bail freedom. Earlier this week, prosecutors moved to revoke the FTX founder’s bail, to which Bankman-Fried’s lawyers have until … [Continue reading]
United States Baker Hughes US Oil Rig Count dipped from previous 530 to 529
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
EUR/USD: Current price action is a temporary setback – MUFG
Share: Economists at MUFG Bank analyze EUR/USD outlook following Thursday’s ECB policy update. ECB signals it is close to the end of their hiking cycle We still believe current price action is a temporary setback for the pair rather than a … [Continue reading]
EUR/GBP drops swiftly as BoE to tighten policy further despite recession fears
Share: EUR/GBP resumes its downside journey as BoE prepares for 14th consecutive interest-rate hike. UK retail orders and factory activities are facing wrath due to higher cost pressures and an uncertain demand outlook. The ECB raised interest … [Continue reading]
GBP/JPY slides to the 177.20 area following BoJ decision
Share: GBP/JPY cross remains under selling pressure and slides to the 177.20 area after the BoJ rate decision. Bank of Japan (BoJ) kept its short-term interest rates at -0.1%, 10-year JGB yield target around 0%. BoJ is closely watching the … [Continue reading]
US Dollar Index: DXY pares the biggest daily jump in 19 weeks below 102.00, Fed inflation eyed
Share: US Dollar Index stabilizes at two-week high after jumping the most since March 15. Strong US Q2 GDP Annualized, Durable Goods Orders and housing data fuelled DXY before the latest consolidation. Cautious mood ahead of US Core PCE for June … [Continue reading]
GBPJPY collapses on a strong BoJ hint from Nikkei
Share: GBP/JPY sells-off on BoJ sentiment ahead of Friday's meeting. GBP/JPY drops into a potentially strong area of support in the 177.70/90s as per the hourly structure. Bears also eye the Point of Control near 177.00 and then a swing support … [Continue reading]
NZD/USD clears daily gains following US Q2 GDP data
Share: The NZD/USD peaked at a daily high of 0.6272 and then settled below 0.6200. US Q2 GDP, Durable Goods and Jobless Claims data came in strong, beating expectations. Investors digest Wednesday’s Fed decision and start to model their … [Continue reading]
Singapore: Positive surprise from Industrial Production – UOB
Share: Senior Economist at UOB Group Alvin Liew reviews the latest industrial production figures in Singapore. Key Takeaways Singapore’s Jun industrial production (IP) contracted by less than forecast while May’s contraction was also revised … [Continue reading]