It was reported yesterday: "The US Dollar strengthened on Wednesday due to the US Consumer Price Index increasing from 2.4% up to 2.6% on an annual basis. This dataset indicates that the US Federal Reserve might have cut interest rates by too much and too early in September." On Thursday, the publication of the US Producer Price Index showed
The US Dollar strengthened on Wednesday due to the US Consumer Price Index increasing from 2.4% up to 2.6% on an annual basis. This dataset indicates that the US Federal Reserve might have cut interest rates by too much and too early in September. In the meantime, month on month CPI showed an increase of 0.2%. Moreover, the Core
Bitcoin has surged past $85,000, hitting a new all-time high following the US election results and after news that Charles Hoskinson will be joining the U.S. government to participate in implementation of crypto policy in the United States. The rally reflects growing confidence in the potential for clearer regulatory frameworks to benefit the industry. The bullish momentum points to the
The US Federal Reserve cut interest rates at 19:00 GMT on Thursday. The central bank reduced the base rate, as expected, by 0.25%. The current rate stands at 4.75%. The US Dollar surged on the news, as there were prior speculations that the Fed might cut 0.50%. The lesser cut revealed that there will be more demand for the USD
At 12:00 GMT, Bank of England in its Monetary Policy Committee has decided to cut interest rates. GBP/USD rate is reacting to the upside. As forecasted, official Bank rate of the GBP has been reduced by 0.25%. New rate is at 4.75%. Predictable monetary policy from the BoE is a good signal for overall economic environment in the UK. Monetary
The monthly US Employment data has been published. In general, the data revealed almost no job creation in the USA, which caused a drop of the Dollar. Average Hourly Earnings were expected to show an increase of 0.3%. Actual raises were 0.4%. Non-Farm Employment Change was forecast to show 106,000 new jobs added to the US labour market. The market
At 14:00 GMT, two data sets were released that conflict with one another. The US JOLTS Job Openings disappointed, but the CB Consumer Confidence surprised the markets. However, it appears that JOLTS rule the market, as the US Dollar dropped on the announcement. Job Openings and Labor Turnover Survey (JOLTS) revealed that there are 7.44 million jobs available in
Crude oil price benchmarks started the week by dropping more than 6.00%. By 09:00 GMT, US Crude Oil Price was down by 6.34%, UK Brent Oil was down 6.02%. The decline was attributed to the limited Israeli attack on Iran. The markets appear to have expected an escalation and surge in oil prices.
The publication of the Canadian Retail Sales data has caused an increase of volatility for the Canadian currency. The Canadian Dollar spiked up, before starting a decline. Market consensus forecast for the Canadian Retail Sales was that the sales would have increased by 0.5%, but actual released numbers showed growth of 0.4%. Meanwhile, the Core Retail Sales, that exclude
The Bank of Canada has cut its base interest rate from 4.25% down to 3.75%. The central banker decision was already expected by the markets, as it was known beforehand to the public that a cut was incoming. Due to this reason, the market reaction was muted, as the USD/CAD moved just 20 base points in the 30 minutes
The market consensus forecast for the UK Retail Sales was that the sales would show a decline of -0.4% on a month-on-month basis. However, analysts were surprised that the data revealed an increase of 0.3%. The news caused a surge of the Pound against peer currencies. During the surge, the GBP/USD currency pair jumped 47 base points, or 0.36%.
The US Dollar has surged due to the publication of the US Retail Sales data for September. In general, sales have grown more than expected, which caused a surge of the Dollar index. Month-on-month retail sales have increased by 0.4% instead of forecast 0.3%. Meanwhile, the Core Retail Sales that exclude auto sales have grown by a staggering 0.5% instead
On the 17th of October, the European Central Bank has decided to cut its Main Refinancing Rate, which is the base rate for all Euro debt. The rate has been reduced from 3.65% to 3.40%, as expected by market analysts. The bank has been cutting rates, as most recent inflation data indicates that Euro Zone inflation has returned to the
On Wednesday morning, at 06:00 GMT, the UK CPI was published. In general, inflation in the UK is a lot lower than expected. Monthly inflation measured year-on-year is just 1.7% instead of the expected 1.9%. Moreover, it is a decline from 2.2% in the prior month.
The publication of the US Producer Price Index has caused a minor increase in volatility. In general, the PPI showed a reading of 0.00% instead of 0.1%, which caused a minor dip of the US Dollar. In the meantime, the US Core Producer Price Index hit the market forecast reading of an increase of 0.2%.
The monthly US Consumer Price Index data has revealed that inflation in the USA is higher than expected. Dollar is trading with increased volatility. US CPI grew by 0.2% instead of 0.1%. Core CPI increased 0.3% not 0.2%. Annual inflation is 2.4% instead of expected 2.3%.
The United States Bureau of Labor Statistics has published the monthly employment statistics. In general, the data is a lot better than expected. The US Dollar index is reacting to the news by immediately spiking up more than 60 base points. The data release consists of three notable elements. Firstly, the Average Hourly Earnings Change that shows the monthly increase
The publication of the US Institute for Supply Management has published the Services sector Purchasing Managers Index survey results. In general, the sector is very optimistic, which is strengthening the value of the US Dollar. The survey results were expected to show a reading of 51.7 points, instead of the 54.9 points. The lot higher reading indicates that the sector
At 14:00 GMT, the markets reacted to two US data survey results, the ISM Manufacturing PMI and the JOLTS Job Openings. The Institute for Supply Management Manufacturing sector Purchasing Manager's Index was forecast to show a reading of 47.6, but actual data was a bit more pessimistic. The published survey results showed a reading of 47.2. The US Bureau of
The US Dollar is declining and with it, boosting asset prices, as Personal Consumption Expenditure Index has revealed that consumer inflation in the USA is below forecast. This in turn signals that the Federal Reserve can continue to ease its monetary policy. The index was expected to increase by 0.2% on a month-to-month basis, but the actual increase is just
The Swiss National Bank has reduced its Policy Rate from 1.25% down to 1.00%. The rate cut was expected. Due to this reason, the Swiss Franc did not lose value. Moreover, algorithmic traders sold off the rate after the announcement. However, an hour after the rate reveal, the rate returned to trade near 0.8500.
The publication of the US Consumer Board Consumer Confidence index has caused a minor market reaction, despite the survey results showing a bleak picture. The survey results were forecast to show a positive future outlook with a reading of 103.9. However, actual survey results showed a reading of 98.7. The US Dollar index reacted to the news by declining just 28
During the morning hours of Monday, S&P Global published one by one the results of the Manufacturing and Services sector Purchasing Managers Indices for European Union countries. In general, the survey results are worse than the markets expected. The gradual data releases caused a 76 point or -0.68% decline of the Euro against the US Dollar. French Flash Manufacturing PMI
The Bank of Japan has kept its Policy Rate at 0.25%. Meanwhile, the central bankers have published their Monetary Policy Statement. In general, the bank has revealed that it has observed a moderate increase in consumption. The increasing consumption might eventually cause rising prices, which would then devalue the Yen. In this case scenario, the central bank would have to