he Swiss franc is slightly higher on Thursday. USD/CHF is trading at 0.9596, down 0.39% on the day.
Those of us who think "staid and steady" when the Swiss franc comes to mind will be forgiven for not recognizing the currency lately. The Swissie took riders on a roller-coaster in the month of May, as USD/CHF rose 300 points and broke above parity for the first...
Gold fell heavily between the middle of April and May but then started to recover as interest rate expectations were pared back. How sustainable is the recovery?
It ran into trouble quite quickly around $1,870, at which point it struggled to gather any upward momentum. But after falling back towards $1,830 today, that may have changed.
A rotation off the 50%...
The Japanese yen continues to lose ground, as USD/JPY has punched above the symbolic 130 line. In the North American session, USD/JPY is trading at 130.01 up 1.02% on the day.
The US dollar is having its way with the yen this week as USD/JPY has surged 2.23%. The driver behind the yen's plunge is an upswing in US Treasury yields. The 10-year yield rose from 2.84%...
The dollar has given back a decent portion of its recent gains over the last couple of weeks and has now reached some very interesting levels.
The greenback correction has coincided with a hawkish shift from the ECB which has lifted the euro, making the impact on the EURUSD pair all the more significant.
But how much further can it run? It's now reached a...
The Canadian dollar hasn't made any spectacular daily gains since May 13th, when it shot up 1.1%. The currency has, however, made slow but steady progress against its US cousin. Earlier today, USD/CAD touched a low of 1.2731, its lowest level in three weeks.
Canada's retail sales for March helped the Canadian dollar rally on Thursday. The headline figure was...
The Australian dollar started the week with gains of close to one percent but has been mostly drifting since then. AUD/USD is trading quietly, just below the 0.71 line.
It hasn't been a very good week on the Australian release front, raising concerns that the economy may be slowing down. Manufacturing and Services PMIs both slowed in May, while Construction Work...
The New Zealand dollar is almost unchanged on Wednesday. NZD/USD posted strong gains in the Asian session but has surrendered most of those gains.
The Reserve Bank of New Zealand delivered on expectations, with a 0.50% rate hike which brings the cash rate to 2.0%, its highest level since 2016. The New Zealand dollar dipped ahead of the decision but rallied by...
The rally in USDJPY from early March to early May was huge, driven by a combination of a soaring greenback and a BoJ determined to support its yield curve control policy tool.
But the last couple of weeks have brought some relief in the pair, driven primarily by the dollar paring gains against the broader market.
And the pair may have just broken below an...
The euro has caught a strong bid against the pound in recent days on the back of some very hawkish commentary from the ECB and poor economic data in the UK.
The ECB will become the latest central bank to concede on the inflation argument and raise rates in July and September, as per President Christine Lagarde's blog, although some support an even more aggressive...
The euro surged at the start of the week after ECB President Christine Lagarde laid out a very clear path for tightening in the coming months.
This is extremely out of character for Lagarde which perhaps highlights the urgency with which the ECB is now approaching the inflation problem.
From intentional ambiguity to a very specific path - a rate hike in July...
Gold has very much fallen out of favour over the last month as it fell 10% on the back of coming within a whisker of $2,000. But has something changed?
We've seen plenty of risk aversion in the markets over the last 24 hours, with stock markets falling heavily, and rather than being particularly supportive for the dollar, it's gold that has performed well which...
The British pound has taken a tumble after April CPI jumped to 9.0% YoY, up sharply from 7.0% in March. GBP/USD has fallen 100 points today and is trading at 1.2390 in North American trade.
UK inflation continues to run at a 40- year high, and the cost of living crisis is undoubtedly keeping Finance Minister Sunak and BoE Governor Bailey awake at night. Core CPI...
The pound has come under heavy pressure recently, particularly against the dollar which has been performing well against the broader market.
While the BoE is poised to continue its run of a rate hike at every meeting, making it one of the more hawkish central banks, the moves in the pound are also a reflection of the challenges facing the UK economy, which the...
The British pound is trading quietly on Monday, as the currency markets have started the week with a whimper.
BoE Governor Bailey testified before lawmakers earlier today, and his message was a grim one. The BoE has predicted that soaring inflation could top 10%, and Bailey today admitted that "this is a bad situation to be in". Bailey said that the Ukraine war...
The euro has stabilized on Friday, after a dreadful Thursday in which EUR/USD fell 1.26%.
The euro continues to struggle and is trading at lows last seen in January 2017. The Ukraine war has taken a bite out of the eurozone economy and sent the euro tumbling. The latest development weighing on the euro was Russia's announcement of sanctions on some European gas...
This week has gone from bad to worse for the New Zealand dollar, as NZD/USD has taken a tumble on Thursday. In the North American session, NZD/USD is trading at 0.6248, down 0.74% on the day. The currency has dropped 2.66% this week and is trading at lows not seen since June 2020.
The US inflation report for April showed that CPI eased, but the decline was much...
The British pound is in positive territory, as the currency tries to break a four-day losing streak. In the European session, GBP/USD is trading at 1.2355, up 0.36% on the day.
US inflation dipped in April, but still came in above the forecast. Headline CPI dropped from 8.5% to 8.3%, above the estimate of 8.1%. Core CPI came in at 6.2%, down from 6.5% but above...
It goes without saying that it's been a pretty torrid six months for bitcoin since hitting all-time highs close to $69,000.
Soaring inflation has forced central banks around the world into action and at the most aggressive pace since the global financial crisis. What's more, there's much more to come, so much so that recessions may well be on the cards.
Risky...
