Gold drops 2.5% as dollar surges on rising expectations for more aggressive Fed
Spot gold fell sharply on Monday, losing nearly 2.5% of its value until early US session, in the biggest daily drop since Mar 9.
Red-hot US inflation in May added to strong concerns about the negative impact on the economy, as price growth…
Read More...
Read More...
Aussie drops below 0.70 in extension of last week’s strong fall
The AUDUSD extends steep fall into fourth straight day and falls below 0.70 support for the first time in one month.
Risk aversion and stronger US dollar on expectations for more aggressive Fed after another red-hot inflation figure, keep…
Read More...
Read More...
UK economy contracts in April, warning of slowdown
UK Gross Domestic Product rose by 0.2% in three months to April q/q against expected 0.4% increase and 0.8% growth in March, while annualized figure showed the GDP grew by 3.4%, compared to 6.4% expansion previous period and disappointing…
Read More...
Read More...
The Euro continues to trend lower; key support at 1.0340 in focus again
The Euro holds in red for the third straight day and retraced almost 76.4% of 1.0349/1.0786 corrective leg, signaling that larger downtrend is on track to complete its short corrective phase and threatening of renewed attack at key longer…
Read More...
Read More...
Sterling falls further on risk aversion, downbeat UK GDP data
Cable dips to one-month low in early Monday, in extension of Friday’s post-US CPI 1.4% drop.
Risk aversion dominates at the start of the week and deflates sterling, while dollar was boosted by continuous rise in US inflation which reached…
Read More...
Read More...
Dollar rises further on hot US inflation
The dollar accelerated higher after US inflation data on Friday and hit the highest in three weeks.
Much hotter than expected inflation fueled expectations for more aggressive Fed in coming meetings, although the central bank already…
Read More...
Read More...
US inflation rose further in May as gasoline and food prices soar
US inflation accelerated in May, offsetting slight optimism on expectations that inflation may have peaked and adding pressure on the US Federal Reserve to continue raising interest rates.
Monthly CPI figure showed strong rise to 1% in…
Read More...
Read More...
Euro stands at the back foot ahead of today’s key event – US inflation data
The Euro is trading within a narrow consolidation in European session on Friday, but keeps negative tone, following 0.92% post-ECB drop on Thursday.
The single currency lost ground as traders were disappointed by a lack of firmer signals…
Read More...
Read More...
ECB ends Asset Purchases and signal 0.25% rate hike next month
The European Central Bank announced an official end of its long-lasting stimulus program and kept interest rate unchanged at -0.5%, in widely expected action at the central bank’s June policy meeting, but focus was on the next steps, which…
Read More...
Read More...
China’s exports surge on easing Covid restrictions, imports from Russia rose by 80% in May
China’s exports soared in May, rising to the highest in five months, while imports expanded for the first time in three months, as factories restarted on easing Covid restrictions.
Exports in May rose by 16.9%, following 3.9% expansion…
Read More...
Read More...