The US Dollar Index (DXY) Sinks as Fed Hikes Might be Overcooked. Will USD Recover?
The US Dollar gave up some ground today as several Fed speakers threw some cold water on market rate hike expectations. Where to now for the USD?
The US Dollar gave up some ground today as several Fed speakers threw some cold water on market rate hike expectations. Where to now for the USD?
EUR/USD may trade to fresh yearly highs as the exchange rate appears to be on track to test the January high (1.1483).
Amazon stock surged in after-hours trading after the company reported impressive fourth-quarter earnings results, sending share prices over 14% higher.
Snap shares surged more than 50% higher in after-hours trading, an impressive move brought on by the company’s first quarterly profit. Pinterest is also rising on a rosy earnings report.
The S&P 500 falls on Thursday ahead of the January NFP report, amid widespread weakness in the technology sector triggered by a significant drop in Meta Platforms stock prices.
The recent advance in the price of gold appears to be stalling ahead of the US NFP report as the update is anticipated to show a further improvement in the labor market.
NZD/USD’s move higher faces resistance following a mixed fourth-quarter jobs report for the island nation. The RBA chart pack and a speech from Governor Philip Lowe are on tap next.
The US dollar weakened significantly this week maintained by a slightly hawkish ECB however, the US ISM services data beat gave some relief to a wounded USD.
The ECB continues its ultra-loose and flexible approach to the planned withdrawal of PEPP but leaves the door open to increased net purchases if necessary
The Bank of England hiked rates by 25bps today but four out of the nine MPC members wanted a 50bp hike.