EUR/USD continued to strengthen after the release of robust German and Eurozone PMI reports.
The US dollar Index moved slightly higher immediately after the release of the Producer Price Index (PPI) but has now eased.
EUR/USD currency pair remained strong despite the softer than expected German inflation data. The inflation data has been released by the Federal Statistical Office of Germany. The release is important as it will provide fresh insights on the Eurozone economy and affect the ECB’s policy. German inflation report Inflation in Germany, as measured by the…
The US Federal Reserve will announce its interest rate decision later today at 18:00 GMT, while Chair Powell will start his press conference at 18:30 GMT. Markets expect the US central bank to maintain rates unchanged at 5.25%-5.50% and signal a hike in November. This is because the Fed feels that inflation and the labour…
After Monday’s uncertainty, markets remain volatile early Tuesday with investors being cautious ahead of this week’s key central bank meetings.
The pound fell as the Bank of England (BoE) Governor Andrew Bailey stressed that the interest rate hiking cycle was now close to an end.
The South African Rand weakened early on Wednesday, as analysts expect that the Federal Reserve policy meeting later in the day could weaken it further.
The US Consumer Price Index (CPI) figures will be released today on Wednesday at 12:30 GMT by the US Bureau of Labour Statistics (BLS).
The GBP/USD pair has reached a fresh two-week high as there are signs that the Bank of England (BoE) will raise interest rates further.
The key event of the day is the highly anticipated inflation data for May which will be released by the US Bureau of Labour Statistics (BLS) at 12:30 GMT. Leading up to the Consumer Price Index (CPI), the USD has fluctuated after the release of disappointing economic data, particularly due to a mixed May Nonfarm…