UK data revealed a significant jump in monthly unemployment claims. US data revealed a smaller-than-expected figure for consumer inflation in May. Fed forecasts at the FOMC meeting showed only one rate cut in December. The GBP/USD weekly forecast shows more downside potential as Fed forecasts for rate cuts overshadow the recent cooler inflation figures....

Last week, the Bank of Canada became the first G7 central bank to cut interest rates. Investors are pricing in a 55% chance that the Bank of Canada will cut rates in July. Safe-haven demand for the dollar increased with the recent snap election announcement in France. The USD/CAD price analysis indicates a bullish trend... The post USD/CAD Price...

The USD/JPY outlook weakens as BoJ said it would continue buying government bonds at the current rate. The dollar was strong due to safe-haven inflows from the Eurozone. The US Producer Price Index report showed softer-than-expected wholesale inflation. The USD/JPY outlook remains optimistic as the yen hovers close to a one-month low after the Bank......

Data revealed that US consumer prices remained unchanged in May. Experts believe the downtrend in inflation could continue as major US retailers slash goods prices. After the inflation report, the likelihood of a Fed rate cut in September rose from 54% to 70%. The GBP/USD outlook is mildly bearish as the price pulls back after... The post GBP/USD...

The dollar plunged on Wednesday after softer-than-expected consumer inflation data. Fed policymakers projected only one rate cut in 2024. Data on Thursday showed a bigger-than-expected increase in Australia’s employment in May. The AUD/USD forecast shows new bearish sentiment as the dollar recovers after the FOMC policy meeting. Meanwhile, the Australian...

The EIA updated its demand growth forecasts to project a more positive outlook. A bigger-than-expected drop in US crude oil inventories signaled rising demand. Investors are positioning themselves for the US Consumer Price Index report and the Fed meeting. The USD/CAD forecast is bearish, with the Canadian dollar benefitting from an improved demand...