© Reuters. Investing.com– Most Asian currencies fell on Wednesday, hit by persistent concerns over slowing economic growth and high oil prices, while the dollar surged to six-month highs before more cues on U.S. monetary policy from a string of Federal Reserve officials. A broader risk-off sentiment also kept traders wary of regional currencies, following weak
Share: Gold Price pares recent losses at weekly low after five-day losing streak. XAU/USD bears the burden of strong US Dollar, China woes. Mostly upbeat United States data, Federal Reserve talks propel yields, US Dollar and weigh on the Gold Price. Risk catalysts, mid-tier US data and Fed signals eyed for fresh impulse
U.S. DOLLAR ANALYSIS & TALKING POINTS ISM services PMI increases Fed rate hike probability. Services prices increase pushes reflation narrative. EUR/USD on the cusp of a downside breakout below 1.07. Recommended by Warren Venketas Get Your Free USD Forecast DOLLAR FUNDAMENTAL BACKDROP US ISM services PMI numbers (see economic calendar below) surpassed forecasts on all
The decision was expected by markets: From RBC’s response, analysts at the bank note that while headline CPI has slowed, the BoC’s preferred core measure remains persistently above the 2% target. Inflation is likely to gain in the near term: Wage growth is still high oil prices higher in recent weeks RBS note that rates
USD/CAD FORECAST USD/CAD rises as U.S. Treasury yields push higher following strong U.S. economic data Bank of Canada keeps interest rates unchanged, but says additional hikes should not be ruled out BoC’s hawkish hold fails to support the Canadian dollar, as the broader U.S. dollar drives FX market dynamics Trade Smarter – Sign up for
© Reuters. Investing.com – The U.S. dollar edged lower in early European trade Wednesday, but remained near a six-month peak as global growth concerns weighed on risk appetite. At 03:20 ET (07:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 104.612, not far off
Share: AUD/USD traded in the 0.6360 – 0.6400 range on Wednesday. USD gained momentum after ISM Service PMIs and the Fed’s Beige Book releases. The odds of one last hike by the Fed are gaining more relevance. In Wednesday’s session, the AUD/USD traded neutral but remained vulnerable below 0.6400. On the one hand, strong
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EUR/USD ANALYSIS EUR/USD retreated on Wednesday, falling to a three-month low around the 1.0700 handle, as strong U.S. economic data increased the probability of additional FOMC policy firming in 2023, reinforced the case for a restrictive monetary policy position for an extended period and propelled U.S. Treasury yields upwards, with the 2-year yield comfortably breaking
