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…
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, Euro Stabilize Ahead of ECB Meeting The U.S. dollar and the euro stabilized in early European trade Thursday, with traders cautious ahead of a widely-anticipated meeting of the European Central Bank which should signal the tightening of its monetary policy. EUR/USD edged higher to 1.0716, having traded in a range-bound fashion for much of…
Dollar Higher; Risk Sentiment Slips as Central Banks Tighten Policy The U.S. dollar rose in early European trade Wednesday with risk sentiment on the wane as central banks tighten monetary policy, likely weighing on global economic growth. Central banks around the globe have started to respond to soaring inflation by tightening monetary policy, which had…
The yen hit a fresh 20-year low versus the dollar on Wednesday and slipped to a seven-year trough against the euro as traders awaited a European Central Bank meeting likely to leave Japan alone among its peers in sticking to ultra easy monetary policy. The ECB meets on Thursday and markets are expecting it…
Dollar Gains on Soaring Yields; Sterling Slumps on Political Strife The U.S. dollar climbed in early European trade Tuesday after a hefty rate hike by Australia’s central bank prompted further inflation concerns, causing U.S. bond yields to soar. The Reserve Bank of Australia raised its key rate by 50 basis points earlier Tuesday, a more…
Dollar Edges Lower; U.S. CPI to Inform Hike Expectations The U.S. dollar edged lower in early European trade Monday, with activity limited ahead of the release of key U.S. consumer inflation data as well as a major European Central Bank meeting. The index had gained around 0.5% last week after Friday’s U.S. jobs report showed…