While presenting the financial stability report on Monday, European Central Bank (ECB) policymaker and Slovak central bank President Peter Kazimir said that the “risk of recession in the Eurozone is growing.” “Rise in interest rates to continue despite unfavorable economic developments,” he added. Market reaction The staggering recovery in EUR/USD remains unfazed by these above comments,
AUD/USD plunges below 0.6600 as sentiment dampened. Recently, China’s Covid-19 outbreak kept investors worried about speculations that the Government would reimpose restrictions. Traders’ focus turns to Reserve Bank of Australia Governor Philippe Lowe speaking on Tuesday. The Australian Dollar (AUD) fell for the fourth straight day in a risk-off mood after news broke that the
In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, GBPUSD could navigate within a range bound theme before attempting a move higher. Key Quotes 24-hour view: “We highlighted last Friday that ‘the price movements appear to be part of a broad consolidation’ and we expected GBP to ‘trade
Federal Reserve officials’ hawkish commentary bolstered the US Dollar, except against the New Zealand Dollar. US Existing Home Sales tanked, flashing an upcoming recession in the United States. Reserve Bank of New Zealand’s upcoming monetary policy meeting would determine NZDUSD direction The New Zealand Dollar (NZD) regained composure and finished the week up by 0.50%
GBPUSD Weekly Forecast: Pound Sterling set to reclaim 200-DMA in the Thanksgiving week GBPUSD buyers remained unstoppable for the second straight week, despite a lack of bullish impetus from the highly-anticipated United Kingdom Autumn Budget. The Pound Sterling also stood resilient to the recent rebound in the US Dollar, as attention now turns toward the