by OverviewFX | Aug 20, 2024 | Forex
The US dollar has fallen to its lowest levels of the year, losing more than 2.3% from its August peak and around 4% since early July as expectations of a Fed rate cut in September began to be priced in. The dollar index has retreated to 101.7, reflecting growing...
by OverviewFX | Aug 20, 2024 | Forex
Headline CPI inflation edged lower in July to 2.5% year-on-year (y/y), right on consensus expectations. This was the lowest reading since March 2021. The deceleration was driven by base year effects (lower price growth relative to last July) for items like travel...
by OverviewFX | Aug 20, 2024 | Forex
Canadian Dollar has come under broad pressure in the early US session following the release of the latest inflation data, which showed a further slowdown in inflation, with headline CPI fell to a 40-month low and core measures also easing. This set of data has...
by OverviewFX | Aug 20, 2024 | Forex
Daily Pivots: (S1) 1.1043; (P) 1.1064; (R1) 1.1107; More….. Intraday bias in EURUSD remains on the upside for the moment. Current rise should target 1.1138 resistance, and then 161.8% projection of 1.0665 to 1.0947 from 1.0776 at 1.1232. On the downside, below 1.1029...
by OverviewFX | Aug 20, 2024 | Forex
In its latest monthly report, Bundesbank cautioned that inflation is expected to “temporarily increase” towards the end of the year. This uptick is anticipated as the currently negative inflation rates for energy turn positive, and the depressed profit margins for...
by OverviewFX | Aug 20, 2024 | Forex
The week kicked off on a positive note on expectation that when Federal Reserve (Fed) Chair Jerome Powell speaks at the Jackson Hole meeting on Friday, he will deliver a strong hint that the rate cuts will begin soon in the US. How soon ? Probably in September? By how...
