Share: USD/CAD treads water to hold ground post recent declines. The decline in the WTI price weighs on the Canadian Dollar. Fed’s Goolsbee suggested that the Fed may consider rate cuts despite upbeat consumer prices. USD/CAD makes an effort to … [Continue reading]
NZD/USD posts modest gains below 0.6100 ahead of US Retail Sales data
Share: NZD/USD holds positive ground near 0.6085 amid the USD weakness. Fed’s Goolsbee said that higher inflation for a few months would still be consistent with a path back to the 2% target. RBNZ’s Orr said the inflation challenge was not over and … [Continue reading]
US Dollar trades lower as investors pocket profits from CPI gains
Share: The DXY Index recorded losses in Wednesday’s session, falling toward 104.70. Investors are taking profits from Tuesday’s rally following CPI. Focus now shifts to Retail and PPI data from January. The US Dollar (USD) measured by … [Continue reading]
Natural Gas down in a losing trend with both near term and longer term outlooks bleak
Share: Natural Gas in its eighth day of consecutive losses. Traders are sending Gas prices already 20% lower since the start of February. The US Dollar Index roared on the back of red-hot inflation, consolidating gains this Wednesday. … [Continue reading]
EUR/USD faces challenges after robust US Inflation, consolidates near 1.0700
Share: EUR/USD lost ground as US Dollar surged after the release of solid US CPI data. The Euro received upward support from the improved Economic Sentiment data. FedWatch Tool suggests 37% and 51% probability of a 25 bps rate cut by the Fed in May … [Continue reading]
Gold price remains vulnerable near two-month low, bears flirt with 100-day SMA support
Share: Gold price hits a fresh two-month low amid bets that the Fed will keep rates higher for longer. The expectations were reaffirmed by the stronger-than-expected US CPI released on Tuesday. A softer risk tone could lend support to the … [Continue reading]
Japan’s Suzuki: Rapid FX moves are undesirable
Share: Japanese Finance Minister Shunichi Suzuki offered some verbal intervention on Wednesday. Suzuki said that he will watch foreign exchange with strong urgency. Key quotes “Says watching the FX market with even strong urgency.”“Rapid FX … [Continue reading]
Bitcoin price drops below $50,000 as US CPI shows inflation remains stubbornly high
Share: Bitcoin price shocked the market on Monday, hitting the $50,000 milestone after two long years. BTC could drop 5% into the supply zone turned bullish breaker or confirm an extended fall below $45,554. A higher-high above the $50,368 range … [Continue reading]
US Dollar to the moon after upbeat inflation report
Share: The US Dollar roars on higher inflation numbers. Rate differential between US Dollar widens against most major peers and pushes US Dollar valuation higher The US Dollar Index heads to 105 with equities in Risk Off The US Dollar (USD) is … [Continue reading]
Pound Sterling refreshes weekly high on upbeat UK Employment data, US Inflation in focus
Share: Pound Sterling jumps strongly on upbeat UK labor market data, higher wage growth. The growth in average earnings was higher than expected, allowing BoE to maintain a hawkish narrative. The US inflation data will guide further action in the … [Continue reading]