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Canadian Dollar declines despite higher oil prices
USD/CAD remains stronger for the second successive day, trading around 1.4190 during Asian hours on Wednesday. The pair appreciates as the US Dollar (USD) remains stronger following the latest inflation report, which cemented market expectations for a Federal Reserve rate hike in December.
Wed, Nov 11
Bitcoin leverage hits 99 percentile as Nasdaq correlation climbs
Bitcoin (BTC) is approaching a leverage level rarely seen in the past two years as the leading cryptocurrency continues to decline, according to a Tuesday report by K33.
Wed, Nov 11
Japanese Yen struggles as Fed rate hike odds lift US Dollar
USD/JPY extends its gains for the second successive day, trading around 158.90 during Asian hours on Wednesday. The pair gained ground as the US Dollar (USD) received firm support following the latest inflation report, which cemented market expectations for a Federal Reserve rate hike in December.
Wed, Nov 11
Euro struggles as jumbo Fed hike bets support USD, traders await German CPI and ECB-speak
The EUR/USD pair holds steady above mid-1.1100s during the Asian session on Wednesday, consolidating the previous day's heavy losses that followed the release of hot US consumer inflation figures.
Wed, Nov 11
Fed’s Goolsbee: CPI was borderline disturbing on inflation
Speaking in an interview on PBS Newshour early Wednesday, Chicago Federal Reserve President Austan Goolsbee said that “CPI was borderline disturbing on inflation.”
Wed, Nov 11
Fed’s Paulson: Further ‘gradual’ rate hikes appropriate given high inflation
Federal Reserve (Fed) Bank of Philadelphia Governor Anna Paulson delivered a speech at the Federal Reserve Bank of Philadelphia's 81st Annual Field Meeting Capstone.
Wed, Nov 11
WTI rebounds above $85.50 despite easing Middle East tensions
West Texas Intermediate (WTI) oil price gains ground after two days of losses, trading around $85.60 per barrel during Asian hours on Wednesday. However, crude oil prices may depreciate following signs of easing tensions between the US and Iran.
Wed, Nov 11
PBOC sets USD/CNY reference rate at 6.7191 vs. 6.7167 previous
On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7191 compared to the previous day's fix of 6.7167 and 6.6855 Reuters estimate.
Wed, Nov 11
British Pound edges higher as hopes for Iran diplomacy cap hot US CPI-inspired USD rally
The GBP/USD pair edges higher during the Asian session on Wednesday, moving away from a one-and-a-half-week low, around the 1.3300 neighborhood, touched the previous day.
Wed, Nov 11
Ethereum Price Forecast: ETF falls to $2,000 following October's hot CPI print
Ethereum (ETH) dropped toward $2,000 on Tuesday as increasing US inflation and exchange-traded fund (ETF) outflows weighed on the market.
Wed, Nov 11
Australian Dollar breaks 0.69 as hot US CPI raises 50-bp Fed hike risk
The Aussie Dollar registers a 0.88% loss against the US Dollar on Tuesday, as a hot US inflation report has cemented the case for a rate hike by the Federal Reserve (Fed) at the December meeting, following hawkish remarks by Governor Christopher Waller. The AUD/USD trades below 0.6900.
Tue, Nov 10
GBP/JPY Price Forecast: SMA resistance stalls bulls near 213.00
The GBP/JPY falls by about 0.22% as the US Dollar strengthens on hawkish comments from Federal Reserve (Fed) officials, boosting safe-haven currencies like the Japanese Yen against the Pound Sterling. The cross trades at 211.78.
Tue, Nov 10
New Zealand Dollar gives back nearly half its election gain on US CPI
National's slim lead in New Zealand's election count helped the New Zealand Dollar rise on Monday, and nearly half that gain is gone after hot US consumer prices. It fell to just under 0.5600 before edging back to that level.
Tue, Nov 10
Yen nears 159.00 with Treasuries back above 5%
New US 10-year notes sold on Tuesday pay 5% a year, the most since 2006, and the Yen has dropped to its weakest against the Dollar since mid-October. The Dollar rose to just under 159.00 Yen, more than reversing Monday's drop and moving back above Friday's close.
Tue, Nov 10
Euro drifts toward the bottom of its range as US rate bets climb
Five weeks into a 1.1100-1.1300 range, the Euro is still inside it after US consumer prices beat forecasts, though back in the lower half. It dropped to just below 1.1150, giving back nearly all of Monday's climb, and has edged back above that level.
Tue, Nov 10
Pound drops back under 1.34 after a hot US inflation report
The UK's Bank Rate is level with the top of the Fed's 3.75%-4.00% range, and a hot US inflation report has left a December Fed hike fully priced. The Pound has given back all of Monday's rise, dropping to just above 1.3300 for its lowest since late October, and has steadied near 1.3350.
Tue, Nov 10
Nasdaq 100 leads US indexes lower on hot CPI and Nvidia
About a sixth of Monday's rebound is gone from all three US stock indexes after a hot October Consumer Price Index (CPI) and talk of a half-point Fed hike. The Nasdaq 100 gave back about half of Monday's gain, hitting a session low just above 27,400, and is now back near 27,750.
Tue, Nov 10
Fed’s Bowman warns CPI signals persistent US inflation pressures
Federal Reserve (Fed) Governor Michelle Bowman said that “bringing inflation down remains a priority,” and that “CPI data suggests inflation pressures may persist.”
Tue, Nov 10
ECB’s Lane warns underlying inflation may rise as energy prices fall
The European Central Bank (ECB) Chief Economist Philip Lane said that “it would be a surprise if there are no second-round effects,” and that if energy prices edge lower, “headline inflation could fall while underlying inflation rises,” he said at the Bank of England and its Watchers Conference.
Tue, Nov 10
Fed’s Schmid warns inflation goes beyond energy as policy stays loose
Kansas City Federal Reserve (Fed) President Jeffrey Schmid said that “inflation is top of mind,” adding that current monetary policy is “fairly accommodative,” in hawkish comments delivered at a Conference in Houston, TX, hosted on Tuesday by the Dallas Fed and the Kansas City Fed.
Tue, Nov 10
