EUR/USD recently saw a correction from the 1.0950 level against the US Dollar. The pair dipped below 1.0900 before finding support near 1.0825. On the 4-hour chart, EUR/USD managed to remain above the 200 simple moving average which was a positive sign for the bulls. After hitting a low at 1.0825, the pair started to
Quantitative Tightening (QT) has been a topic of discussion among economists, with some suggesting that it could have a significant impact on the strength of the Yen. The Bank of Japan (BoJ) is planning to announce cuts to its JGB purchases in July, a move that could potentially influence the Yen’s value. However, the implications
The USD/JPY pair began the new week on a positive note, with fresh buyers entering the market during the Asian session on Monday. The pair jumped to the 154.35 region amid some repositioning trade ahead of key central bank events scheduled for later in the week. Despite the positive start, the upside potential for USD/JPY
Peru’s President Dina Boluarte recently delivered an independence day speech to Congress, painting a rosy picture of the country’s economy. Despite her optimistic outlook, the reality on the ground tells a different story. The economy contracted by 0.6% last year, attributed to extreme weather conditions and lower private investment. While Boluarte predicts a surge in
The Bank of England’s Chief Economist Huw Pill recently conveyed a hawkish tone, emphasizing the uncomfortable strength in services inflation and wage growth. This suggests that there are concerns about the economy overheating, which could lead to higher inflation. However, it is important to note that such a stance might not be entirely justified given
Australian producer prices have been under scrutiny in recent months, with experts offering varying opinions on the future trajectory of the economy. StoneX Market Analyst David Scutt highlighted the inflation pickup in official readings, suggesting a potential interest rate hike by the Reserve Bank of Australia (RBA) in August. On the other hand, Luci Ellis
In a recent interview with the Bieler Tagblatt, departing Swiss National Bank Chairman Thomas Jordan shed light on the oft-misunderstood world of central banking. Contrary to popular belief, Jordan argues that central banking is far from boring. Instead, he suggests that being prepared to carry the label of “boring” may be the key to success
Recently, six major banks, including Bank of America and Citigroup, agreed to pay $80 million to settle antitrust litigation in New York. The litigation accused the banks of conspiring to rig prices of European government bonds. This preliminary settlement requires approval from a judge and would put an end to the ongoing legal battle. Investors,
China’s industrial profits saw a positive growth trajectory in June, with a 3.6% year-on-year rise, following a 0.7% gain in May. The first-half earnings also showed an acceleration, reaching 3.5% compared to a 3.4% increase in the previous period. This growth can be attributed to the relatively rapid industrial production and an easing in factory-gate
As investors gear up for a pivotal week in the stock market, they are faced with a cascade of events that could dictate the immediate future of U.S. stocks. After a prolonged rally in major tech stocks came to an abrupt halt in July, the recent turbulence in the markets has sent shockwaves through the
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Russia’s central bank made a significant move by increasing its key interest rate by 200 basis points to 18% on Friday. This decision was driven by concerns about high inflation and an overheated economy. As a result, the cost of borrowing has reached its highest level in more than two years. The central bank also