EURUSD Pushing Higher As USD Falls After Powell Speech
USD Weakens on Powell CommentsEURUSD is pushing higher today against a backdrop of USD weakness following Powell’s semi-annual testimony at Congress yesterday. Speaking at the Senate Banking...
Crude Futures Soften Ahead of EIA Inventories
EIA On WatchCrude oil prices are a little softer today ahead of the latest EIA inventories release due later. Last week, the EIA reported a larger-than-forecast inventories surplus, reflecting weaker...
Bank of England's Underestimated Inflation Forecasts Expose Insufficient Policy Tightening
The surprise in UK consumer inflation for May was incredibly strong, raising concerns that the Bank of England may go into overdrive with the policy tightening. GBPUSD initially tried to gain...
GBP Sinks on Fresh CPI Surge
GBP Under PressureGBPUSD has come under fresh selling pressure today as the latest round of UK inflation data failed to inspire optimism. UK CPI in May was seen printing 8.7% on the headline reading...
Stocks Soften Ahead of Powell Speech Today
Powell Up NextTraders today are bracing for a fresh set of commentary from Fed chairman Powell. The central bank leader makes his semi-annual testimony at the Senate Baking Committee today and markets...
USDJPY Pull Back As Traders Await Fed Comments
Muted USD Action for NowThe US Dollar looks to have fallen into limbo on the back of the FOMC last week. On the one hand, a pause in tightening from the Fed has seen USD weaken on the view that this...
Hawkish ECB Outlook Clips DAX Rally
DAX Bouncing Off LowsThe DAX is attempting to recover today after gapping lower at the open, extending losses from yesterday. Following a move to fresh 2023 highs late last week, the index has since...
Aussie Falls on Less Hawkish RBA Minutes
AUD Under PressureThe Australian Dollar has softened today on the back of the release of the latest RBA meeting minutes overnight. Following a second, unexpected rate-hike at the last meeting,...
Crude Rising on China Stimulus Hopes
Crude Testing ResistanceCrude oil prices are continuing to push higher across the European morning on Tuesday. Crude futures are on course for their third consecutive positive day so far, now up...
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