Forex Crunch
Some policymakers suggested hiking interest rates to tame stubborn inflation. Data revealed improved business activity in the US manufacturing and services sectors. Investors will focus on the US GDP data next week. The AUD/USD weekly forecast points south as the US dollar recovers amid a decline in Fed rate cut expectations. Ups and downs of... The...
Japan’s core CPI rose 2.2%, a smaller increase than the 2.6% reported in March. The BoJ might not be ready to hike interest rates in June or July. The dollar surged on Thursday after data showed robust business activity in May. The USD/JPY price analysis shows more upside potential for the pair as Japan’s soft... The post USD/JPY Price Analysis: Soft...
The flash US Composite Output Index jumped from 51.3 to 54.4. Canada’s inflation hit a three-year low of 2.7%. The prospect of higher rates for longer in the US weighed on oil. The USD/CAD outlook points northward as the pair holds near a two-week high on growing policy divergence between the US and Canada. At... The post USD/CAD Outlook: Policy...
The UK manufacturing sector jumped from contraction to expansion. Business activity in the UK services sector fell from 55.0 to 52.9. Prime Minister Rishi Sunak announced an election for July 4th. The GBP/USD outlook remains bullish as the pound shrugs off mixed PMI data. The pair is recovering after dropping in the previous session due... The post...
Data showed better-than-expected PMI figures for Germany. ECB president Lagarde is very confident inflation is under control. Fed meeting minutes revealed some hawkish sentiments among policymakers. The EUR/USD forecast shows a slight bullish tilt as the euro rebounds on positive Eurozone PMI data. However, the overall bearish trend persists due to...
Canadian inflation data met forecasts of 2.7%, easing from the previous month. There is a 55% chance the BoC will cut rates in June. Fed policymakers have remained cautious despite easing inflation. The USD/CAD forecast looks bullish, driven by a weakening Canadian dollar following inflation figures that matched expectations. Simultaneously, the US...
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