Euro Rebounds as Some ECB Members Talk Up July Rate Hike
Euro rebounds strongly today as some ECB policymakers continued to talk up the chance of a July rate hike. Canadian Dollar is following as second strongest, continuing to be supported by strong inflation data. Dollar is not performing too badly...
Euro Breaks above 1.09 as CPI Surges
The euro has posted considerable gains on Thursday. In the European session, EUR/USD is trading at 1.0906, up 0.47% on the day. Eurozone CPI hits 7.4% The euro has rebounded nicely as it trades at the 1.09 line. Less than...
UK Oil Bounces Off Support
Brent crude finds support from a surprise drawdown in inventories. On the daily chart, the price is taking a breather in a flag-shaped pattern after a parabolic ascent. The uptrend can remain intact as long as the support of 98.00...
JPY Turning Weaker Again, CAD Staying Strong
Inflation data were the main drivers in the forex markets in the past 12 hours. New Zealand Dollar turned slightly weaker after Q1 CPI came in lower than expected, despite surging to 30-year high. On the other hand, Canadian Dollar...
Fed’s Daly says the economy can handle rate hikes, but a mild recession is possible
Mary Daly, President of the Federal Reserve Bank of San Francisco, poses after giving a speech on the U.S. economic outlook, in Idaho Falls, Idaho, November 12 2018. Ann Saphir | Reuters San Francisco Federal Reserve President Mary Daly acknowledged...
S&P 500 Wave Analysis
S&P 500 reversed from support level 4400.00 Likely to rise to resistance level 4500.00 S&P 500 index recently reversed up from the support level 4400.00 (the former monthly low from March) intersecting with the 61.8% Fibonacci correction of the upward...
Canadian Dollar Surges as CPI Surges
Canada’s inflation outperforms The Canadian dollar is up sharply on Wednesday, as Canada’s inflation report was hotter than expected. In the North American session, USD/CAD is trading at 1.2519, down 0.74% on the day. Canada’s CPI for March jumped 6.7%...
Fed’s Bostic expresses caution about the pace of interest rate hikes
Atlanta Fed President Raphael Bostic did not commit in a CNBC to interview to what pace the Fed should take in increasing benchmark rates.
Canadian Inflation Hotter than Expected at 6.7% in March
Consumer price inflation accelerated to 6.7% year-on-year (y/y) in March, up from 5.7% in February. That was well above the consensus forecast for 6.1% and the highest rate since 1991. Energy price growth accelerated to 27.8% (from 24.1% in February),...
Australian Dollar Rebounds on Hawkish RBA
The Australian dollar is back in positive territory on Tuesday, after four straight losing sessions. In the North American session, AUD/USD is trading at 0.7384, up 0.51% on the day. RBA hints at an earlier rate hike The RBA sent...