Dollar recovers broadly today as risk sentiment turns negative again. Hawkish comments from Fed officials this week reminded people that even though a smaller hike is possible for February, interest rates are going to stay high for “a long time”. Euro is currently the second strongest for the day, followed by Canadian. On the other
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The French government is presenting new plans to update the pension system. Analysts expect some backlash from some workers. Nurphoto | Nurphoto | Getty Images French President Emmanuel Macron is going at it again. A new pension reform proposal was presented Tuesday that included plans to raise France’s retirement age — which is expected to
In this article BBBY Follow your favorite stocksCREATE FREE ACCOUNT A man is seen at a Bed Bath & Beyond store in New York, on Jan. 5, 2023. Ziyu Julian Zhu | Xinhua News Agency | Getty Images Bed Bath & Beyond on Tuesday posted wider quarterly losses than expected as its chief executive acknowledged
Reuters reported that the European Central Bank’s governing council member Mario Centeno said on Tuesday the current process of interest rate increases is approaching its end. ”The central banker, who was answering Portuguese legislators during a committee hearing in Lisbon, added even though inflation may have some resistance in January and February it will resume
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The EURUSD extended to the highest level going back to June 9th today (see earlier post on the pair by clicking here). In the process, the December high at 1.0735 was broken . The 61.8% of the 2022 trading range was also broken at 1.07468 with the price moving to a high of 1.07601. The
The changes among major currencies are light to start the day, after having seen the dollar slump further yesterday. The overall mood is more tentative now as market players throw caution to the wind awaiting remarks from Fed chair Powell later today. Here’s a snapshot of dollar pairs at the moment: Yeah, it leaves a
Gold prices inched lower on Tuesday as the U.S. dollar witnessed an uptick, with traders largely focusing on Federal Reserve Chair Jerome Powell’s speech for insights into the central bank’s rate hike path. * Spot gold was down 0.2% at $1,868.85 per ounce, as of 0033 GMT. U.S. gold futures also slipped 0.2% to$1,873.10. *
Markets turned steady in Asian session as risk-on moves take a breather for now. Dollar remains the worst performer but there is no committed follow through selling so far, after breaking near term support against Euro and Swiss Franc. Commodity currencies also lose some momentum and are overtaken by European majors in terms of strength.
Here is what you need to know on Tuesday, January 10: Pressured by the improving market mood and dovish Fed bets, the US Dollar continued to weaken against its major rivals at the beginning of the week. The US Dollar Index touched its lowest level in seven months at 102.94 but managed to stage a
The USDCHF has continued its run to the downside today, and in the process has moved below a swing area on the daily chart between 0.9194 and 0.9211. The pair is trading at the lowest level since March 2022. Looking at the daily chart above, the next target would be the swing low going back
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Oil extended gains on Monday, rising more than 3% after China‘s move to reopen its borders boosted the outlook for fuel demand and overshadowed global recession concerns. The rally was part of a wider boost for risk sentiment supported by both the reopening of the world’s biggest crude importer and hopes for less-aggressive increases to
Selloff in Dollar remains the main theme today, but Yen is also sharing some burden. US 10-year yield is falling below 3.6 handle again, giving the greenback some additional pressure. Swiss Franc breaks through recent resistance against Dollar already, with help from cross buying. But Euro might also follow very soon. For now, Aussie and
People shop for goods at a Publix in Nashville, Tennessee, on December 22, 2022, ahead of winter storm Elliot. Seth Herald | AFP | Getty Images Consumers see the inflation burden easing while they expect to pull back considerably on their spending, according to a closely watched survey the New York Federal Reserve released Monday.