UBS analysts highlighted the possibility of the Bank of Canada (BoC) implementing a rate cut before the U.S. Federal Reserve, amid economic slowdown concerns. The Canadian dollar (CAD) is expected to face only modest inflationary pressures from a weaker currency as a result. UBS predicts the first BoC rate cut could occur in the summer,…
As evidenced by the USD/CHF chart, yesterday one US dollar was worth 0.913 Swiss francs, but today it is already 0.903, indicating a rate drop of approximately 1%. According to MT Newswires, the franc’s strengthening is attributed to statements by Swiss National Bank (SNB) President Thomas Jordan. In his view, an overly weak franc is…
2024.05.31 2024.05.31 Pound may regain lost ground. Forecast as of 31.05.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ At the end of spring, GBPUSD bulls retreated due to the rising US Treasury yields, but they are not going to give up early. The pound has plenty of trump cards to play. Let’s discuss that and make a trading plan for GBPUSD. Weekly…
Saxo Bank, a Danish financial institution specialising in online trading and investments across global markets, has announced that Andrew Bresler will step into the Saxo UK CEO position as of 3 June 2024. Bresler replaces the segment’s interim CEO, Simon Camilleri. In Saxo’s press release, the firm emphasised that Bresler’s extensive experience in the financial…
JPMorgan Chase & Co. (JPM) has published its forecast for the US dollar for the second half of this year. The institution factored in the global economic climate and geopolitical influences in its projections. The bank predicts a bullish medium-term greenback performance in tandem with high yields, a significant growth barrier and other relevant aspects….
The Foot Locker (FL) share price rose by close to 15% on Thursday as investors showed faith in its start to 2024. This followed a rocky start to the year for the shares, which had lost 27% in the year to date. The footwear and sportswear retail giant is working on a strategic plan called…
CPI Y/Y 0.8% vs. 0.8% expected and 0.8% prior. CPI M/M 0.2% vs. 0.2% expected and 0.1% prior. Harmonised CPI Y/Y 0.8% vs. 0.7% expected and 0.9% prior. Harmonised CPI M/M 0.2% vs. 0.2% expected and 0.5% prior. The stabilization of the growth on annual basis of All-item index underlies contrasting trends: the prices of…
USD/CHF gains ground near 0.9020 ahead of US PCE Inflation report for April. The US core PCE is projected to have risen steadily. Market sentiment is downside as China’s weak PMI data raises uncertainty over global demand outlook. The USD/CHF pair rebounds to near 0.9050 in Friday’s European session after discovering buying interest around 0.9020. The…
The Canadian dollar is showing little movement on Friday, but that could change with the release of Canadian GDP and the US PCE Price index later today. USD/CAD is trading at 1.3660 in the European session, down 0.15% on the day. Canada’s economy expected to have flatlined in March Canada’s economy is expected to have…
Investing.com – The U.S. dollar rose slightly in early European trade Friday, rebounding after the previous session’s losses ahead of the key inflation data, which could drive future interest rate expectations. At 04:30 ET (08:30 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose 0.1% to 104.735, after…