Share: The US Dollar struggles to build on weekly gains on Friday. The US Dollar Index stays near 101.50 following Thursday’s rally. US PCE inflation data for June came in softer than expected. The US Dollar stays under modest selling pressure on Friday after posting strong gains against its rivals on Thursday. The USD
The Nasdaq is up 1.4% as Treasury yields retreat and the market sorts through the post-BOJ wreckage. The strength in stocks demonstrates that there is a mountain of cash on the sidelines looking for a dip to buy. That kind of stock market performance would usually come with at least some strength from commodity currencies
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Share: The Australian Dollar plunges through support following the release of US Q2 GDP. Downside pressure maintains on the Aussie after the release of US PCE inflation data for June. The Fed Chairman said he could not confirm if there would be further rate hikes, noted a fall in Core CPI and strength in
The Bank of Japan met and eased their yield curve control on the 10 year effectively expanding their tolerance by a further 50 basis points to 1.0%. That news – and the other news this week – has the pair moving back toward a neutral level after up-and-down-volatility. The pair is trading near the 38.2%
Share: Data released on Friday showed that Canadian GDP posted a 0.3% monthly increase in May, in line with forecasts. Analysts at CIBC pointed out that the economy had its ups and downs during the second quarter, but despite the monthly volatility, it appears that growth cooled a little more than the Bank
Prelim was 72.6 Prior was 64.4 Current conditions 76.6 vs 77.5 prelim (69.0 prior) Expectations 68.3 vs 69.4 prelim (61.5 prior) 1-year inflation 3.4% vs 3.4% prelim (3.3% prior) 5-10 year inflation 3.0% vs 3.1% prelim (3.0% prior) This indicator has little use for traders, though it still moves market. It’s a measure of gasoline