Wednesday’s Inflation data to determine Fed rate hike policy
EUR/USD 🔼
GBP/USD 🔼
AUD/USD 🔼
USD/CAD 🔽
XAU 🔼
WTI 🔼
Without any major economic data announced just yet, the market slows down as it awaits the latest US CPI data. The strong labor market gave a confidence boost to the Federal Reserve, if US inflation managed to decline to 8.7% as expected, the string of mega rate hikes is likely to continue.
On the other hand, the greenback slightly retreats against its peers, EUR/USD and GBP/USD closed at 1.0195 and 1.2076 respectively with minor gains. The Australian currency was cheered by increasing Chinese export figures, AUD/USD rose and met resistance at 0.700, finally closing at 0.6988.
USD/CAD slid and stabilized at the 1.2860 level, last traded at 1.2854. Recession fears once again send gold futures surging, adding over $10 to $1,805.2 an ounce.
Mixed sentiment stalled WTI oil futures, reaching $90.76 a barrel after recovering from $89.45.
More information on Mitrade website.
GBP/USD 🔼
AUD/USD 🔼
USD/CAD 🔽
XAU 🔼
WTI 🔼
Without any major economic data announced just yet, the market slows down as it awaits the latest US CPI data. The strong labor market gave a confidence boost to the Federal Reserve, if US inflation managed to decline to 8.7% as expected, the string of mega rate hikes is likely to continue.
On the other hand, the greenback slightly retreats against its peers, EUR/USD and GBP/USD closed at 1.0195 and 1.2076 respectively with minor gains. The Australian currency was cheered by increasing Chinese export figures, AUD/USD rose and met resistance at 0.700, finally closing at 0.6988.
USD/CAD slid and stabilized at the 1.2860 level, last traded at 1.2854. Recession fears once again send gold futures surging, adding over $10 to $1,805.2 an ounce.
Mixed sentiment stalled WTI oil futures, reaching $90.76 a barrel after recovering from $89.45.
More information on Mitrade website.