US Dollar Flat Ahead of Key Jobs Report, Powell Testimony and ECB Decision
The US Dollar (USD) is surrendering recent gains this Friday, set to close the week near flat despite contradictory signals from economic data and Federal Reserve (Fed) commentary. While ISM and University of Michigan data suggest inflationary pressures could re-emerge, Fed officials maintain confidence in the disinflationary trend, downplaying recent inflation readings and reaffirming a […]
EUR/USD Retreats to 1.0800 as Mixed Data, US Inflation Weigh
EUR/USD stumbled back towards 1.0800 on Thursday, following weaker-than-expected German Retail Sales and mixed Consumer Price Index (CPI) data. Although US Personal Consumption Expenditure Price Index (PCE) met forecasts, investor confidence remains shaky as stubbornly high inflation could delay potential Federal Reserve (Fed) rate cuts. Friday brings crucial pan-European Harmonized Index of Consumer Prices (HICP) […]
EIA Report Fuels Crude Oil Sell-Off, OPEC Outlook in Focus
West Texas Intermediate (WTI) crude oil prices briefly pushed above $79.00 on Wednesday before retreating on news of another substantial US inventory build reported by the Energy Information Administration (EIA). The EIA’s data adds to the inventory increase reported by the American Petroleum Institute (API) on Tuesday, further pressuring prices. The EIA reported a 4.199 […]
GBP/USD: Pound Sterling (GBP) trades within a narrow range on Tuesday
Pound Sterling (GBP) trades within a narrow range on Tuesday as traders await fresh catalysts to provide clearer direction on the timing of potential Bank of England (BoE) interest rate cuts. GBP/USD is consolidating, with upside limited by expectations of eventual BoE rate cuts, while a softer US Dollar prevents further downside. The US Dollar […]
EUR/USD continues to cycle north of 1.0800
EUR/USD cycled on Friday, stuck in a near-term range between 1.0840 and 1.0810 as markets settle in for the weekend and gear up for the long wait for significant data. Fresh figure prints aren’t due until the back half of next week, and the pair is hanging onto the top half of the week’s chart […]
USD/CAD: Markets churned on Thursday after mixed US PMI figures
USD/CAD drifted into the low end early Thursday as markets geared up for the day’s US Purchasing Managers Index (PMI) print. Mixed results left markets a little less confident, and the pair traveled notable ground to wind up close to flat on the day. Canada saw a similar mixed result in its Retail Sales figures, […]
EUR/USD: Markets shuffled after Fed Minutes which focused on downside risks
EUR/USD drifted into the midrange on Wednesday after the US Federal Reserve (Fed) published its latest Minutes which showed policymakers continue to remain focused on downside risks. Inconsistent inflationary pressures in the US economy is keeping the Fed back from rate cuts, and policymakers continue to wait for further signs of inflation dropping to the […]
EUR/USD climbed above 1.0800 on Tuesday
EUR/USD climbed to a two-week high just shy of 1.0840 on Tuesday after the US Dollar (USD) broadly fell before recovering in the US trading session after American markets returned to the fold following an extended weekend. EUR/USD reclaimed the 1.0800 handle for the first time in a week as the pair grapples with jump-starting […]
EUR/USD trades slightly lower in quiet session
The Euro lost ground against the US Dollar amid thin trading in the observance of President’s Day in the United States (US). At the time of writing, the EUR/USD pair fluctuates around 1.0770s, down by 0.07%, after hitting a daily high of 1.0789. During the European session, the Bundesbank noted that Germany’s economy is likely […]
Mexican Peso drops amid strong Dollar
The Mexican Peso (MXN) appreciated against the US Dollar (USD) on Friday after data released in the United States (US) indicated that inflation is still high. A University of Michigan (UoM) poll suggests Americans see an improvement in economic conditions, while inflation expectations loom at around 2.9% and 3%. Initially, the US Dollar strengthened, but […]
