The US Dollar took a tumble as Fed Chair Powell put forward his inflation fighting credentials, bringing down long-end Treasury yields. Will USD break lower?
USD/CAD remains susceptible to a further decline as the exchange rate extends the series of lower highs and lows from the start of the week.
The Nasdaq 100 sank on Thursday, dragged down by a large sell-off in the tech space, but the reopening trade rallied on expectations the end of the pandemic will unleash pent-up demand.
AUD/USD may stage a larger recovery over the coming days as the exchange rate clears the December high (0.7278) after defending the opening range for January.
The Australian Dollar gained versus a broadly weaker US Dollar after Fed Chair Powell testified before Congress overnight. Chinese inflation and factory-gate prices are on tap for today’s APAC sess…
The US Dollar (via the DXY Index) has tumbled to its lowest level since November 10.
The Euro has taken off after hot U.S. inflation data irked dollar bulls. With fundamentals favoring the USD, EUR/USD upside is bound to dwindle short-term.
2021 was a good year if you were long risk across a number of asset classes. But not everyone found the environment successful.
The Rand has strengthened against the dollar, mainly due to the post CPI dollar sell-off as the over-crowded greenback recalibrates hawkish Fed bets
The price of gold is pushing back towards a noted area of resistance, aided by short-term weakness in the US dollar.
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