Investors are anticipating Federal Reserve Chair Jerome Powell’s testimony. The ECB has promised to deliver a 50bps rate hike on March 16. The Bank of Canada will maintain its benchmark interest rate at 4.50%. Currency futures rose on Friday amid dollar weakness. For the first time since January, the dollar index, which compares the dollar’s Read More…
The dollar maintained a seven-week high after new data showed continued strong inflation. The US PCE price index increased 5.4% in the 12 months that ended in January. BOJ’s Ueda emphasized that the central bank must maintain low-interest rates. The US dollar on Friday maintained a seven-week high as new data showing continued strong inflation Read More…
The US central bank will need to hike interest rates further to control inflation. Policymakers emphasized that there is still potential for ECB interest rates to rise. Investors are expecting the testimony of the newly appointed governor of the Bank of Japan. Currency futures ended Friday higher after hitting new lows on dollar strength. The Read More…
Investors increased their bets on the Fed maintaining its aggressive policy for longer. ECB’s Visco said on Saturday that the ECB must refrain from aggressive hikes. The British economy contracted in the last quarter of 2022. During an earlier London session trading on Monday, investors increased their bets on the Federal Reserve’s plan to maintain Read More…
Analyzing the profitable short trade from last week. Recent developments on the daily chart point toward bearish weakness. A true story about a pound-trading cyborg. Recap on the double top progress Last week Tuesday, we looked at the double top formation on 6B futures, seeing the potential for a short trade that had a defined Read More…
The Federal Reserve might maintain its hawkish stance for longer. BOJ Deputy Governor Masayoshi Amamiya might be considered for future governor. US nonfarm payrolls grew by 517,000 jobs in January. Currency futures were on the back foot on Monday as the dollar strengthened. The dollar held steady against its peers after solid US jobs data Read More…
