CANADIAN DOLLAR PRICE, CHARTS AND ANALYSIS: The Loonie Finally Catches a Break and Could be in For Some Gains Against the Greenback. BoC Could Have a Rethink Regarding the Rate Hike Path, Market Participants Pricing in a 35% Chance of a Hike Up From 22%. US FOMC Minutes Could Re-Ignite the Dollar Spark, Which Could
© Reuters. FILE PHOTO: Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration By Joice Alves and Samuel Indyk LONDON (Reuters) – Sterling rose on Tuesday after data showed British basic wages grew at a record pace, adding to the Bank of England’s inflation worries, while the
Share: AUD/USD turns lower for the sixth straight day and slides back closer to the YTD low. China’s economic woes continue to exert pressure on the Aussie amid a bullish USD. Bets for one more Fed rate hike push US bond yields higher and underpin the buck. The AUD/USD pair fades an intraday
Coming up at 8.30 am US Eastern time today, July retail sales data from the US: Preview comments from Bank of America, looking for a solid beat. Bolding is mine: We expect a robust retail sales report for July Over the last two trading days, BofA Global Research analysts have published 12 notes on July
Share: EUR/GBP declined for a second consecutive day, and fell towards 0.8605, below the 20-day SMA. All eyes are now on labour market and inflation data from the UK. The Eurozone will release its preliminary Q2 GDP report on Wednesday. At the start of the week, the EUR/GBP fell below the 20-day Simple
Share: Next week, key events in the US include Retail Sales data and the release of the FOMC minutes. Market participants will also closely listen to comments from Fed officials as they prepare for the Jackson Hole Symposium. In the UK, inflation and employment data will be reported. The RBNZ will have its
Share: Late in the New York session, the Pound Sterling (GBP) continued to hold its ground against the US Dollar (USD) after UK’s economy grew more than expected, despite US elevated inflation on the producer side. Hence, the GBP/USD trades at 1.2697, gaining 0.16%. Read More… The Pound Sterling (GBP) seems to be
Share: The pair trades green for a fifth consecutive day, around the critical 145.00 zone. The USD continues to strengthen after higher-than-expected US PPI data from July. Investors continue to bet on a less aggressive stance by the BoJ causing the Yen to lose interest. On the last day of the week, the
A slightly-hot producer price index reading has caused an outsized reaction in the FX and fixed income markets. PPI was at +0.3% m/m compared to +0.2% expected but you wouldn’t know it was only a small miss from the market reaction. US 10-year yields have jumped to 4.15% from 4.10% and the dollar is broadly
The market is showing high sensitivity to anything touching inflation at the moment. The University of Michigan’s consumer sentiment survey was slightly stronger at 71.2 compared to 71.0 expected but the market may be cheering the improvement in inflation expectations, as the one-year metric fell to 3.3% from 3.4% and the 5-year metric to 2.9%
