It Will Take More than Words to Lift EUR/USD
Forex traders have suddenly become woke to the possibility of an end to ECB QE and interest rate hikes this year. As a result, EUR/USD, after two consecutive weeks of declines, has found a bit of support as traders return...
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...
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%...
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...
European PMIs: Is a Recession Coming for the Euro?
The Eurozone economy is losing power. A recession has become a real possibility and the upcoming PMI business surveys on Friday will tell investors exactly how high that risk is. The French TV debate between Macron and Le Pen on...
PBoC Steps in as Chinese Economy Slows
Market movers today Today, the IMF releases its latest take on the global economy also known as the World Economic Outlook. We are looking forward to reading the IMF’s assessment of the impact of the Russian invasion, Western sanctions and...
Canadian March Inflation to Breach 6%
Next week’s Canadian CPI report is expected to show a further acceleration to 6% in March. That would top the 5.7% February reading that was already the highest since 1991. Soaring gasoline prices are expected to account for almost a...
The Weekly Bottom Line: Inflation Surge Continues
U.S. Highlights Overall inflation as measured by the CPI accelerated to 8.5% year-over-year (y/y) in March, marking yet another multi-decade high. Core inflation, which excludes food and energy, ticked up a tenth of a percentage point to 6.5% y/y. Small...
Is BTC about to Soar above $100,000?
Bitcoin rose 4.3% on Wednesday to end the day around $41,300, Ethereum added 4% to reach 3100, and both remain near those levels early Thursday. The leading altcoins from the top ten have risen in price over the past day...