485 days ago
The dollar is seeing positive momentum since yesterday after the ISM non-manufacturing data showed that the service sector is still on an expansionary path. This has altered markets' expectations about how far the Fed could go high in its hiking cycle, which is likely to benefit the dollar.
486 days ago
The EURUSD has regained 1.05, its highest level in 5 months. Traders are encouraged by China's steps taken towards reopening which could lift growth in the Eurozone. The dollar weakness however has been the real driver of the EURUSD higher. PMIs in the eurozone and US today could add to volatility.
490 days ago
EURUSD is once again near its 5-month high, making another attempt to break above the 1.0485 -1.0500 resistance level. The uptick in sentiment comes after Fed Chair Jerome Powell said in comments at the Brookings Institution that the central bank could begin moderating its pace of rate hikes as soon as December
491 days ago
The euro is rebounding versus the dollar in light of slightly weaker German unemployment data. This suggests that as the economy decelerates and if it does begin to very meaningfully deteriorate, not only inflation should come down more rapidly, but central banks may end up being forced to support the economy instead of restraining it with interest rate hikes and QE deleveraging. The bad news is 'good news' for now, helping risk assets recover slightly. The Nasdaq is up 0.4% in pre-market ahead of key US macro data and Fed Chair Powell's speech later in the day.
492 days ago
The USDCHF continues its rally over the past 3 days, up 0.5% today due to an increase in US interest rates and a softer Swiss GDP print. Additionally, with Canadian GDP wildly exceeding growth expectations (2.9% actual vs 1.5% expected), the market assumes that the same will occur in the US when the figures are released tomorrow.
