The St. Louis Federal Reserve (Fed) President Alberto Musalem said that an easing bias in the Federal Reserve’s monetary policy statement is “no longer consistent” in an interview with Bloomberg TV. Musalem added that a move in interest rates would depend on what happens in the economy, noting that bond markets “are seeing a resilient economy,” which could trigger…
Markets kicked off the holiday-shortened week with a decidedly geopolitical flavor on Tuesday, as progress toward a US-Iran peace deal overshadowed fresh overnight military exchanges in the Strait of Hormuz and drove a complex mix of risk-on and risk-off price action across asset classes. The US dollar climbed steadily from the Asia open through the London close to finish…
There are increasing reports suggesting progress toward a cease-fire agreement between the U.S. and Iran. According to multiple sources, the deal would be implemented in two phases, beginning with the signing of a memorandum of understanding (MOU). Reports indicate that Pakistan is expected to witness the signing ceremony. Reuters is reporting that negotiators have reached an agreement on a…
The British Pound (GBP) pares some of its earlier losses and edges up by 0.08% on Thursday amid an Axios report that the US and Iran reached a deal, pending confirmation from US President Donald Trump. At the time of writing, GBP/USD trades at 1.3437 after bouncing off daily lows of 1.3367. GBP/USD recovers as ceasefire hopes pressure the…
AUD/NZD shows a bullish MACD crossover, suggesting a potential bullish momentum shift. Can price extend higher or fail and revert to range trading?
The USDCAD has moved lower after trading to its highest level since April 13. The pair peaked at 1.3869 on two separate occasions during the Asian and early European sessions, with the rally stalling right within a key swing area between 1.3868 and 1.3877. That area has attracted willing sellers and could prove to be an important ceiling after…
Gold (XAU/USD) falls to a fresh two-month low on Thursday as renewed attacks in the Middle East keep traders doubtful about a quick end to the US-Iran war. At the time of writing, XAU/USD is trading at $4,386 after hitting an intraday low of $4,366. US armed forces carried out a second “defensive” strike this week on Iranian military…
With EUR/GBP bouncing off the strong support zone around .8620, bulls appear to have their sights set on the next ceiling. Will the top of the triangle hold as resistance?
ECB Chief Economist Philip Lane warned that inflationary pressures from the energy shock will persist even if we see a reversal. Lane highlighted that while the initial shock is fading, the resulting adjustments in wages and price-setting behavior continue to weigh on the economy. He noted that the impact of high energy costs is not a one-time event. Even…
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts some follow-through buying for the third straight day and climbs to a fresh high since April 4, around the 99.54 area on Thursday. The index, however, retreats slightly during the early European session and currently trades around the 99.35 region, still up nearly 0.15%…
