FX

What you need to take care of on Wednesday, September 28: Dollar buying paused early Tuesday but resumed following the release of better-than-expected US data, also helped by the poor performance of Wall Street. In addition, fears of a worldwide recession keep leading the market sentiment. During the European morning, European Central Bank President Christine
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Despite grim PMIs on the continent and risk-off around the globe on inflation worries, the euro and global stocks have been pressured of late with the resurgence of geopolitical worries stemming from the Ukraine crisis. The news that Russian President Vladimir Putin moved to add 300,000 new troops to shore up the country’s flagging war
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WTI tumbles more than 7.50% weekly, registering a fresh 8-month low. Global S&P PMIs in September increased worries of a worldwide recession, weighing on WTI. WTI Price Analysis: A break below $78.00 could pave the way for a fall to $70.00. The US crude oil benchmark, also known as WTI, drops below $80.00 per barrel
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Eurozone Manufacturing PMI arrives at 48.5 in September vs. 48.7 expected. Bloc’s Services PMI drops to 48.9 in September vs. 49.0 expected. EUR/USD keeps the red near 0.9780 on the mixed Eurozone PMIs. The Eurozone manufacturing sector fell further into contraction in September, the latest manufacturing activity survey from S&P Global research showed on Friday. The Eurozone
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At its September monetary policy meeting on Thursday, Indonesia’s central bank, Bank Indonesia (BI), hiked its 7-day reverse repo rate by an unexpected 50 bps from 3.75% to 4.25%. The central bank Governor Warjiyo noted that the rupiah depreciation is relatively better than peers. Additional Comments Global inflation has risen amid geopolitical tensions, protectionist trade policies. Core inflation
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AUD/USD bulls have eyes on the 0.6720s despite hawkish Fed. The US dollar has dropped from the post-Fed rate hike highs. AUD/USD has rallied following a 30 pip drop below the round 0.6650 level that came on the back of the knee-jerk reaction to the Fed’s interest rate hike. AUD/USD, however, recovered from a session
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USD/CAD is nearing the 1.34 level. Economists at Commerzbank expect the Canadian dollar to remain under pressure unless the Federal Reserve disappoints markets. Bank of Canada’s frontloading seems to be having an effect “The restrictive monetary policy seems to be having an effect slowly. The economic data of the past months is pointing toward falling
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Bank of Canada’s Deputy Governor Paul Beaudry, in a speech to university students in Waterloo, Ontario, said  “we will continue to take whatever actions are necessary to restore price stability for households and businesses and to maintain Canadians’ confidence that we can deliver on our mandate of bringing inflation back to 2%.” Even following inflation that
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