2 days ago

#GBP drops despite #BOE rate hikes

The Bank of England raised rates by 0.5% for the second time consecutively. Officials called the BOE to join global peers in raising rates even faster to fight inflation. Rates are now 2.25%, with rates rising for the 7th consecutive time in a row, with officials voting to tighten policy at every meeting since December. 


12 days ago

#USD continues to #retreat ahead of tomorrow's #CPI data

The #dollar #index #DXY is down again ahead of tomorrow #US #CPI release, which is in turn boosting #riskassets. 


16 days ago

#ECB raises interest rates by 75bps #euro #EURUSD #trading

The ECB did it. The European central bank hiked interest rates by 75 basis points, showing just how concerned policymakers are about inflation and how determined they are to retake control. The euro retreated in the minuted that followed the announcement.


17 days ago

#EUR under pressure, despite #GDP growth #forex #trading

Eurozone GDP came stronger than expected at 0.8% QoQ versus 0.6% expected. Nonetheless, tensions with Russia are causing weakness in the common currency as the energy situation remains uncertain. The euro slipped below 0.99 against the dollar, after a report on the US services industry came stronger than expected. Demand for the US dollar continues to be stronger with investors buying the greenback for yield and the safe-haven alternative it provides. 


18 days ago

#JPY hits new low #USD #USDJPY #forex #trading #markets

The Japanese yen (JPY) made a new low against the dollar this morning, after the momentum of a rising dollar continued based on the large differentials between the interest rates of the Bank of Japan and the US. Investors are ditching the yen to invest in dollars, where Treasury yields can provide a return. Adding to the yen's weakness, Japan reported disappointing household spending and wage data, which remains well short (too weak) of what is required for the Bank of Japan to consider moving away from its ultra-loose monetary policy.