The Swiss franc has posted massive gains today after the Swiss National Bank raised interest rates by 0.50%. In the North American session, USD/CHF is trading at 0.9653, down a massive 2.91% on the day.
It has been a week of central bank drama, which started with the Federal Reserve delivering a massive 0.75% rate hike. This was followed today by a Swiss shocker,...
The British pound is in positive territory on Wednesday. This follows an abysmal 5-day slide which saw the pound fall as much as 600 points. In the North American session, GBP/USD is trading at 1.2060, up 0.53% on the day.
All eyes are on the Federal Reserve, with the FOMC rate decision later today. The Fed is clearly under pressure as inflation surges with no...
NZD/USD has extended its losses today. In the North American session, NZD/USD is trading at 0.6222, down 0.59% on the day.
The New Zealand dollar continues to fall, and fast. The currency has slumped 1.93% this week and is trading just above 0.6216, a 2-year low.
There is plenty of hand-wringing ahead of the FOMC meeting on Wednesday, as the financial markets...
The week ended with a disappointing US inflation report. Headline inflation in May rose to 8.6% YoY, up from 8.3% in April. Core inflation eased to 6.0%, down from 6.2%, but that was little comfort for the markets, which are showing signs of panic over entrenched inflation. The result was that risk appetite fell, sending the US dollar surging against the major...
The British pound is taking a beating today from the US dollar, following back-to-back losing sessions. In the North American session, GBP/USD is trading at 1.2378, down 0.94% on the day.
US inflation continues to accelerate. The May inflation report showed that headline inflation rose to 8.6% (8.3% prior). Core CPI ticked lower to 5.9%, down from 6.0%. With no...
GBP/USD is drifting today, with a very light economic calendar. There are no UK releases and the only important release out of the US was unemployment claims, which rose from 202 thousand to 229 thousand (210 exp.). Investors didn't pay much attention to the release, ahead of the US inflation report on Friday.
Headline CPI is expected to remain unchanged at 8.3%,...
The Australian dollar has reversed directions on Wednesday and is slightly lower. AUD/USD is trading at 0.7209, down 0.28% on the day.
The RBA surprised the markets with a supersize rate hike of 50bp yesterday, double what most analysts had predicted. The Australian dollar responded with a swing of close to 100 points and held onto half of those gains. However,...
It can't be often that a Prime Minister is hours away from potentially being removed by their own party and yet the currency is rallying? Of course, the UK political scene has been far from normal for a number of years now.
You could read one of a number of things into today's moves. The most important is that nothing has moved particularly far so we shouldn't...
The Australian dollar has reversed directions on Friday. AUD/USD is trading at 0.7225, down 0.55% on the day.
US nonfarm payrolls are traditionally the highlight of the week, but the Ukraine war, spiralling inflation and surging oil prices have taken up much of the market's attention. This has reduced some of the hype around recent NFP releases, but they still...
he Swiss franc is slightly higher on Thursday. USD/CHF is trading at 0.9596, down 0.39% on the day.
Those of us who think "staid and steady" when the Swiss franc comes to mind will be forgiven for not recognizing the currency lately. The Swissie took riders on a roller-coaster in the month of May, as USD/CHF rose 300 points and broke above parity for the first...
Gold fell heavily between the middle of April and May but then started to recover as interest rate expectations were pared back. How sustainable is the recovery?
It ran into trouble quite quickly around $1,870, at which point it struggled to gather any upward momentum. But after falling back towards $1,830 today, that may have changed.
A rotation off the 50%...
The Japanese yen continues to lose ground, as USD/JPY has punched above the symbolic 130 line. In the North American session, USD/JPY is trading at 130.01 up 1.02% on the day.
The US dollar is having its way with the yen this week as USD/JPY has surged 2.23%. The driver behind the yen's plunge is an upswing in US Treasury yields. The 10-year yield rose from 2.84%...
The dollar has given back a decent portion of its recent gains over the last couple of weeks and has now reached some very interesting levels.
The greenback correction has coincided with a hawkish shift from the ECB which has lifted the euro, making the impact on the EURUSD pair all the more significant.
But how much further can it run? It's now reached a...
The Canadian dollar hasn't made any spectacular daily gains since May 13th, when it shot up 1.1%. The currency has, however, made slow but steady progress against its US cousin. Earlier today, USD/CAD touched a low of 1.2731, its lowest level in three weeks.
Canada's retail sales for March helped the Canadian dollar rally on Thursday. The headline figure was...
The Australian dollar started the week with gains of close to one percent but has been mostly drifting since then. AUD/USD is trading quietly, just below the 0.71 line.
It hasn't been a very good week on the Australian release front, raising concerns that the economy may be slowing down. Manufacturing and Services PMIs both slowed in May, while Construction Work...
The New Zealand dollar is almost unchanged on Wednesday. NZD/USD posted strong gains in the Asian session but has surrendered most of those gains.
The Reserve Bank of New Zealand delivered on expectations, with a 0.50% rate hike which brings the cash rate to 2.0%, its highest level since 2016. The New Zealand dollar dipped ahead of the decision but rallied by...
The rally in USDJPY from early March to early May was huge, driven by a combination of a soaring greenback and a BoJ determined to support its yield curve control policy tool.
But the last couple of weeks have brought some relief in the pair, driven primarily by the dollar paring gains against the broader market.
And the pair may have just broken below an...
The euro has caught a strong bid against the pound in recent days on the back of some very hawkish commentary from the ECB and poor economic data in the UK.
The ECB will become the latest central bank to concede on the inflation argument and raise rates in July and September, as per President Christine Lagarde's blog, although some support an even more aggressive...
