The Dollar maintains its momentum ahead of the Fed
EUR/USD🔼
GBP/USD🔼
AUD/USD🔼
USD/CAD🔽
XAU🔽
WTI🔼
As anxiety dominates financial markets ahead of the US Federal Reserve's decision, the US dollar maintained its strength on Tuesday and Wednesday's opening hours.
Market participants had long anticipated a 50 bps increase, but on Monday, market chatter suggested the central bank may opt for a 75 bps increase. In addition, US officials will give updated Economic Projections, which might result in a protracted aggressive attitude if the new scenario suggests stagflation.
Regarding Eurozone, ECB member Klaas Knot hinted at more rate rises in October and December while maintaining a 25 basis point increase in September.
The United Kingdom delivered mixed employment figures, as the unemployment rate increased from 3.7% in March to 3.8% in April. Still, the number of persons seeking unemployment benefits decreased by 19.7K in May.
The EUR/USD pair stays above 1.0400, while GBP/USD trades at 1.1980, its lowest level since March 2020. The AUD/USD pair continued its decline to 0.6850, while the USD/CAD pair trades at 1.2955, as the weak performance of stocks and falling gold and oil prices sapped demand for commodity-linked currencies.
Wall Street continued under selling pressure, although the Nasdaq Composite managed to notch a 0.10% gain.
Yields on US government bonds continued to rise, with the yield on the 10-year Treasury note reaching a 10-year high of 3.489%.
More information on Mitrade website.
GBP/USD🔼
AUD/USD🔼
USD/CAD🔽
XAU🔽
WTI🔼
As anxiety dominates financial markets ahead of the US Federal Reserve's decision, the US dollar maintained its strength on Tuesday and Wednesday's opening hours.
Market participants had long anticipated a 50 bps increase, but on Monday, market chatter suggested the central bank may opt for a 75 bps increase. In addition, US officials will give updated Economic Projections, which might result in a protracted aggressive attitude if the new scenario suggests stagflation.
Regarding Eurozone, ECB member Klaas Knot hinted at more rate rises in October and December while maintaining a 25 basis point increase in September.
The United Kingdom delivered mixed employment figures, as the unemployment rate increased from 3.7% in March to 3.8% in April. Still, the number of persons seeking unemployment benefits decreased by 19.7K in May.
The EUR/USD pair stays above 1.0400, while GBP/USD trades at 1.1980, its lowest level since March 2020. The AUD/USD pair continued its decline to 0.6850, while the USD/CAD pair trades at 1.2955, as the weak performance of stocks and falling gold and oil prices sapped demand for commodity-linked currencies.
Wall Street continued under selling pressure, although the Nasdaq Composite managed to notch a 0.10% gain.
Yields on US government bonds continued to rise, with the yield on the 10-year Treasury note reaching a 10-year high of 3.489%.
More information on Mitrade website.