Euro bruised as inflation fears send safety-seeking investors to dollar The euro struggled to regain its footing on Thursday after tumbling overnight against a resurgent U.S. dollar, which benefited from safe-haven demand on renewed worries about higher rates and a global recession. It also dropped to a fresh 7-1/2-year low versus the Swiss franc at…
Oil was up on Thursday morning in Asia as concerns about global supply tightness outweighed a build in U.S. gasoline and distillate inventories. Brent oil futures rose 0.36% to $112.84 by 01:45 AM ET (0545 GMT) and crude oil WTI futures jumped 0.22% to $110.02. Wednesday’s U.S. crude supply data from the U.S. Energy Information…
Dollar Gains on Soaring Yields; Sterling Slumps on Political Strife Oil prices gained for a fourth straight session on Wednesday with tight supply worries offsetting concerns about a weaker global economy. U.S. West Texas Intermediate (WTI) crude futures were up 44 cents, or 0.4%, to $112.20 a barrel. Both contracts rose more than 2% on…
Euro below $1.06 as Lagarde keeps July policy options open The Aussie and the Canadian dollar climbed on Tuesday on firmer oil prices while the euro held below $1.06 as European Central Bank (ECB) President Christine Lagarde offered no fresh insight on the central bank’s policy outlook. The ECB is widely expected to follow its…
Here is what you need to know about the important news between June 27th, 2022, and July 1st 2022, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key…
27/06/2022 Dollar Down over Recession Fears The dollar was down on Monday morning in Asia over recession fears following weakening U.S. consumer confidence. The U.S. Dollar Index that tracks the greenback against a basket of other currencies edged down 0.20% to 103.98 by 1:32 AM ET (0532 GMT). The USD/JPY pair fell 0.28% to 134.79.…
Dollar Edges Lower as Investors Weigh Powell Testimony The U.S. dollar slipped slightly on Friday, as investors remained cautious of the impact of tighter central bank policies around the world aimed at curbing soaring inflation. As of 02:35 AM EST (0635 GMT), the U.S. dollar index – which tracks the greenback against a basket of…
Oil prices slipped on Friday and were heading for a second weekly fall, as tight supply was overshadowed by concern that rising interest rates could push the world economy into recession. U.S. Federal Reserve Chair Jerome Powell said on Thursday the central bank’s focus on curbing inflation was “unconditional,” adding to fears about more interest…
Happy Friday, traders. Welcome to our weekly market wrap, where we look back at these last five trading days with a focus on the market news, economic data and headlines that had the most impact on the financial market – and may continue to into the future for the US Dollar and other key correlated…
Dollar languishes as recession fears mount; yen bounces while won slides The U.S. dollar remained under pressure on Thursday as it looked set to extend declines against major peers to a fourth day, hurt by Treasury yields wallowing near two-week lows amid rising concerns of a recession. The safe-have yen bounced, climbing back from 24-year…
Dollar Gains Ahead of Powell’s Testimony; U.K. CPI Hits 40-Year High The U.S. dollar pushed higher in early European trade Wednesday with Fed Chair Jerome Powell expected to talk tough on inflation during his testimony to Congress, while sterling fell in wake of more elevated inflation data. Wednesday’s main event is the start of U.S.…
Here is what you need to know about the important news between June 20th 2022 and June 24th 2022, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key…
Dollar Soars Against the Yen After BOJ Stands Pat The U.S. dollar rose in early European trade Friday, posting strong gains against the Japanese yen after the Bank of Japan maintained its ultra-easy monetary policy in contrast to the aggressive tightening of its peers. This very loose monetary policy places the BoJ in a room…
Happy Friday, traders. Welcome to our weekly market wrap, where we look back at these last five trading days with a focus on the market news, economic data and headlines that had the most impact on the financial market – and may continue to into the future for the US Dollar and other key correlated…
Dollar Edges Higher After Fed; Sterling Weakens Ahead of BoE Meeting The U.S. dollar edged higher in early European trade Thursday, maintaining a positive tone as traders digested the Federal Reserve’s policy decisions. The U.S. Federal Reserve raised interest rates by 75 basis points Wednesday, its biggest interest rate hike since 1994, and pointed to…
European markets rallied on Wednesday on news the European Central Bank would hold an emergency meeting on the recent bond market sell-off ahead of what is expected to be the most aggressive rise in U.S. interest rates since 1994. Hopes of a quiet run in to what is forecast to be a three-quarter point hike…
European Stocks Higher; Unscheduled ECB Meeting Boosts Sentiment European stock markets traded higher Wednesday, boosted by the announcement of an unscheduled European Central Bank get together ahead of a Federal Reserve policy meeting which is expected to result in aggressive tightening to curb rampant inflation. The ECB confirmed earlier in the session that it is…
Dollar stands tall as traders brace for Fed to go large The U.S. dollar stood just below a 20-year peak on Tuesday and just about everything else nursed losses as investors braced for aggressive Federal Reserve rate hikes and a possible recession. Markets have scrambled to bet on rapid-fire hikes in the wake of an…
Here is what you need to know about the important news between June 13th 2022 and June 17th 2022, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key…
Dollar Up, Investors Looking to U.S. Inflation Data for Policy Cues The dollar was up on Friday morning in Asia ahead of U.S. inflation data and after the European Central Bank (ECB) suggested future interest rate hikes. The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched down 0.09% to…