EUR/USD ▶️
GBP/USD 🔽
AUD/USD 🔽
USD/CAD 🔼
XAU 🔽
WTI 🔼
As the Governor of the Bank of England warned months prior, the UK CPI has recorded a 10.1 increase, compared to the market estimate of 9.8%. Such a high reading is not seen for four decades, and the British central bank is likely to bring more rate hikes to tame the raging inflation, possibly slowing the economy in the process. As a result, GBP/USD declined and stabilized at 1.2047.
Though the Fed meeting minutes are fairly dovish, the subsequent lower CPI data continues to increase bets for another 50 or 75 bps bump in the interest rate. The greenback rallied against its peers, USD/CAD rose to 1.2909, moving further toward the 1.3000 level.
Meanwhile, EUR/USD was little changed at 1.018, Eurozone CPI for July will be announced this afternoon. The Aussie suffered from falling iron prices and slid to a closing price of 0.6932, as the latest employment change results showed more than 400,000 people in Australia are no longer employed in a supposedly compact labor market.
Gold futures broke through 1,780 to 1,776.7 with minor fluctuations, extending its weakened run. US Crude Oil Inventories were reduced by over 7 million barrels, and a tightened supply moved WTI oil futures slightly higher to $88.11 a barrel, after meeting resistance at $88.00.
More information on Mitrade website.
GBP/USD 🔽
AUD/USD 🔽
USD/CAD 🔼
XAU 🔽
WTI 🔼
As the Governor of the Bank of England warned months prior, the UK CPI has recorded a 10.1 increase, compared to the market estimate of 9.8%. Such a high reading is not seen for four decades, and the British central bank is likely to bring more rate hikes to tame the raging inflation, possibly slowing the economy in the process. As a result, GBP/USD declined and stabilized at 1.2047.
Though the Fed meeting minutes are fairly dovish, the subsequent lower CPI data continues to increase bets for another 50 or 75 bps bump in the interest rate. The greenback rallied against its peers, USD/CAD rose to 1.2909, moving further toward the 1.3000 level.
Meanwhile, EUR/USD was little changed at 1.018, Eurozone CPI for July will be announced this afternoon. The Aussie suffered from falling iron prices and slid to a closing price of 0.6932, as the latest employment change results showed more than 400,000 people in Australia are no longer employed in a supposedly compact labor market.
Gold futures broke through 1,780 to 1,776.7 with minor fluctuations, extending its weakened run. US Crude Oil Inventories were reduced by over 7 million barrels, and a tightened supply moved WTI oil futures slightly higher to $88.11 a barrel, after meeting resistance at $88.00.
More information on Mitrade website.