USD/CAD remains on the defensive near a two-month low touched on Wednesday. Hopes for a less aggressive Fed, the risk-on mood continues to weigh on the buck. An uptick in oil prices underpins the loonie and also contributes to capping the pair. The USD/CAD pair struggles to gain any meaningful traction and remains confined in… Read More »
US inflation expectations, as per the 10-year breakeven inflation rate per the St. Louis Federal Reserve (FRED) data, dropped to the lowest levels in two weeks after the US Bureau of Labor Statistics released downbeat figures of the US Consumer Price Index (CPI) for July on Wednesday. That said, the inflation precursor dropped to 2.43%… Read More »
GBP/USD adds to its intraday gains and rallies to a one-and-half-week high amid a brutal USD selloff. A weaker US CPI report pushed back expectations for a larger Fed rate hike and weighed on the USD. A strong rally in the US equity futures exerts additional downward pressure on the safe-haven buck. The GBP/USD pair… Read More »
USD/CHF turns lower for the third straight day and drops to a one-week low on Wednesday. Modest USD weakness exerts pressure amid growing recession fears and US-China tensions. Investors might refrain from placing aggressive bets and wait for the crucial US CPI report. The USD/CHF pair attracts fresh selling near the 0.9545 region on Wednesday… Read More »
USD/CAD meets with a fresh supply on Wednesday and erodes a part of the overnight gains. Subdued USD price action turns out to be the only factor exerting some downward pressure. Weaker oil prices could undermine the loonie and lend support ahead of the US CPI report. The USD/CAD pair struggles to capitalize on the… Read More »
GBP/USD gains some positive traction on Wednesday amid subdued USD price action. Recession fears, the BoE’s gloomy outlook could act as a headwind and cap the major. Traders might also prefer to move on the sidelines ahead of the crucial US CPI report. The GBP/USD pair edges higher during the first half of the European… Read More »
AUD/USD reverses modest intraday slide, through the uptick lacks bullish conviction. Subdued USD price action turns out to be a key factor lending support to the major. The cautious mood caps the risk-sensitive as the focus remains on the US CPI report. The AUD/USD pair attracts some buying near the 0.6945 area on Wednesday and… Read More »
USD/JPY lacks any firm directional bias and remains confined in a narrow trading range. Traders prefer to move on the sidelines ahead of the crucial US consumer inflation data. The Fed-BoJ policy divergence, meanwhile, continues to act as a tailwind for the major. The USD/JPY pair continues with its struggle to gain traction on Wednesday… Read More »
USD/CHF picks up bids to reverse recent losses inside the daily trading range. US dollar traces yields ahead of the key CPI data amid recession woes, recently up hawkish Fed bets. Sluggish markets, light calendar amplified pre-data anxiety, equity futures stay indecisive. USD/CHF treads water around 0.9560, despite picking up bids ahead of Wednesday’s European… Read More »
Steel price retreats amid cautious markets, fears of less margin on the production front. Softer China inflation, economic slowdown concerns join pre-CPI anxiety to weigh on sentiment. The anticipated increase in output joins firmer coke prices to challenge profits of steel producers. Steel price tracks other commodities to the south as market players await the… Read More »
