Share: USD/JPY pair plunges to a one-month low as US inflation data surprise and Treasury yields fall, putting pressure on USD. Despite inflation dropping closer to the target, a dovish stance from the Fed weighs on the already battered USD. The … [Continue reading]
BoC’s Macklem: BoC is prepared to raise rates further
Share: Bank of Canada (BoC) Governor Tiff Macklem comments on the policy outlook following the BoC's decision to raise its policy rate by 25 basis points to 5% in July. Key takeaways "Further rate decisions will be guided by assessment of incoming … [Continue reading]
The Dollar tends to perform poorly in the immediate period after the CPI data – MUFG
Share: Economists at MUFG Bank analyze how the US Dollar tends to perform after the release of the CPI report. There is scope for downside surprises The Dollar tends to perform poorly in the immediate period after the CPI data. In a six-hour period … [Continue reading]
RBNZ’s pause is highly credible – ANZ
Share: As universally anticipated, the RBNZ left the Official Cash Rate (OCR) unchanged at 5.5%. The NZD is slightly higher after a small dip. Economists at ANZ Bank analyze the decision. Nothing to see here The RBNZ left the OCR unchanged at 5.5%, … [Continue reading]
PBOC sets USD/CNY reference rate at 7.1765 vs. 7.1886 previous
Share: On Wednesday, the People’s Bank of China (PBOC) fixed the USD/CNY central rate at 7.1765, compared with Tuesday’s fix of 7.1886 and market expectations of 7.1935. The PBOC said that it fixed the 7-day reverse repo rate at 1.90% vs … [Continue reading]
Forex Today: US Dollar remains weak ahead of US CPI
Share: During the Asian session, the Reserve Bank of New Zealand will announce its monetary policy decision and RBA Governor Lowe will deliver a speech. The key event of the day, however, will be the release of the June US CPI, which is likely to … [Continue reading]
GBP/JPY loses the 20-day SMA after British labour market data
Share: The GBP/JPY cross tallies a fourth consecutive day of losses and retreats to near 181.00. The ONS from the UK reports that wages and unemployment increased in the three months leading up to May. Falling Japanese yields to … [Continue reading]
Brazil IPCA Inflation above forecasts (-0.1%) in June: Actual (-0.08%)
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]
USD Index drops to 2-month lows near 101.70
Share: The index extends the breach of the 102.00 support. Investors continue to favour the risk complex on Tuesday. NFIB Index, IBD/TIPP Index, Fed’s Bullard next on tap. The greenback, when tracked by the USD Index (DXY), sheds further ground … [Continue reading]
UK Unemployment Rate Preview: Persistent labor shortages likely to keep low levels
Share: Jobs report for the United Kingdom could significantly impact the BoE rates outlook. The Unemployment Rate in the UK is likely to hold steady at 3.8% in the quarter to May. Office for National Statistics is set to publish the UK labor market … [Continue reading]