The US dollar (USD) ended the week as one of the worst performers, putting an end to its three-week consecutive bullish streak. USD sell-off increased on Friday following poor PMI data figures that showed the US economy was currently in contraction. Declines in benchmark yields further intensified the sell-off, as traders’ bets showed a mass […]
The US dollar (USD) resumed its aggressive bull run on Thursday, tapping a new two-decade high, returning the euro (EUR) to parity. The bullish move comes as market participants anticipate a more aggressive Federal Reserve rate hike in July to combat the rising inflation figures. The ongoing global economic crisis has bolstered the safe-haven appeal […]
Sterling (GBP) slumped to its lowest point since March 2020 on Tuesday as the US dollar posted an aggressive rebound and as political uncertainty displaced GBP traders. Already under strain from worsening inflation, Brexit tensions, and the risk of a recession, the British economy came under fresh pressure following Boris Johnson’s resignation as prime minister […]
The dollar enjoyed some safe-haven demand on Friday as woes over the global economic outlook worsened. The Australian dollar, which is tightly bound to the global economic performance, crashed to a two-year low against the dollar Friday. Over the months, persistent inflation and a frantic reaction by top central banks to stave off a recession […]
EUR/USD is getting close to the 1.0600 mark today. This is because of the action of downward forces on the USD. Stocks in Europe rose beyond 1%, as it obtains strength from Asian and American counterparts. This made investors reconsider if the central bank will continue with its violent rate increase, as economic development decreases. […]
The US dollar halted its descent in the Asian session on Thursday as the recently announced Federal Reserve interest rate hike rocked the financial markets. Money markets anticipated the 75 basis points (bps) increase announced yesterday and had already priced in this possibility and several other rate hikes as inflation continues to swell. The greenback […]
The US dollar index (DXY), which tracks the dollar’s performance against other benchmark currencies, soared to a two-week high in the Asian session on Tuesday. The dollar rode on the back of rising US Treasury yields, which forced the yen to a two-decade low of 133 against the dollar. This level had been marked as […]
The euro extended its losses in the London session on Tuesday but remained close to its highest point in the month as it moves towards closing its best year in 2022. This comes amid raging inflation data that could prompt the European Central Bank (ECB) to increase its lending rates. In Germany, consumer prices increased […]
The EUR/USD pair recorded a goodish bounce for its second consecutive week to tap the 1.0765 top after touching a multi-year low of 1.0348 on May 13. A weak dollar was responsible for this bullish rally recorded by the euro as the USD tumbled despite lingering risk aversion sentiment. However, investors have exhibited caution in […]
