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Forex Today: Back to US data and Fedspeak
The US Dollar regained balance and rose to weekly highs on the back of the resurgence of the Trump-infused impulse, all prior to key data releases in the second half of the week as well as comments from Fed's rate setters..
Mexican Peso weakens amid geopolitical tensions, dovish Banxico comments
The Mexican Peso erased some of Tuesday's gains versus the Greenback as geopolitical risks continued to drive the financial markets amid a possible escalation of the Russia-Ukraine conflict.
US Dollar meets again with gains on quiet Wednesday
The US Dollar Index (DXY), which measures the value of the USD against a basket of currencies, has traded with solid gains, rising to 106.70.
Fed's Bowman: Progress on inflation appears to have stalled
Federal Reserve (Fed) Board of Governors member Michelle Bowman hit newswires on Wednesday, cautioning that it appears the Fed's progress on taming inflation may have hit a snag.
BoE's Ramsden: A very small miss on one month's inflation forecast doesn't change my assessment
Bank of England (BoE) Deputy Governor Dave Ramsden spoke late in the London market session on Wednesday, highlighting the BoE dove's stance on rate cuts versus the UK's current inflation outlook.
Fed's Cook: Could see a pause on rate moves if inflation progress slows
Federal Reserve (Fed) Board of Governors member Lisa Cook noted on Wednesday that while she views the overall economic outlook within the US as fairly balanced, the Fed might get forced into a pause on rate cuts if inflation progress slows down while employment remains solid.
EUR/CAD Price Analysis: Pair fell deeper, approaching last week's lows, indicators deep in negative territory
The EUR/CAD fell by 0.29% on Wednesday, reaching a low of 1.4745, continuing its decline and reaching lows last seen in July.
GBP/NZD Price Forecast: Correction reaches support at 50-day SMA
GBP/NZD has been correcting back in a mini channel during November after peaking at the October 30 high.
GBP/USD Price Forecast: Tumbles below 1.2700 after hot UK CPI
The Pound Sterling lost ground versus the US Dollar on Wednesday following a hot UK inflation report, which increased the chances that the Bank of England (BoE) would pause its easing cycle.
EUR/CHF Price Prediction: Downside breakout from Triangle confirmed
EUR/CHF cements its bearish breakout from a Triangle pattern and declines.
Gold prices have the capacity to go even lower - TDS
How much further can the bounce in Gold prices run? Any way you slice it, this is not the same set-up for flows as a few short months ago, TDS' Senior Commodity Strategist Daniel Ghali notes.
AUD/USD Price Forecast: Slumps to near 0.6500 as Fed dovish bets ease
The AUD/USD pair drops sharply to near the psychological support of 0.6500 in the North American trading session on Wednesday.
GBP/CAD Price Prediction: Pierces below confirmation level for Rising Wedge
GBP/CAD is extending its decline after breaking out of a bearish Rising Wedge pattern.
GBP/JPY gains a lift after UK consumer price data and fall in safe-haven flows
GBP/JPY trades higher by about two-thirds of a percent in the 197.30s on Wednesday, after the release of higher-than-expected UK inflation data cemented bets the Bank of England (BoE) will leave its key bank interest rate at a relatively high 4.75% at its December policy meeting, and take a gradual approach to cutting interest rates in the future.
USD/CAD: CPI has little impact - Scotiabank
The Canadian Dollar (CAD) has slipped back somewhat after gains met resistance in the mid-1.3950 area, as expected, Scotiabank's Chief FX Strategist Shaun Osborne notes.
USD/CHF Price Forecast: Extends recovery above 0.8850
The USD/CHF pair extends its recovery above 0.8850 in the North American trading session on Wednesday.
Crude Oil ticks up as geopolitical tensions trigger supply concerns
Crude Oil prices are ripping higher for a third day in a row on Wednesday, getting close to the $70 round level, as geopolitical tensions - namely the escalation in the war between Russia and Ukraine - take over market sentiment to the detriment of stockpile data.
EUR/USD: Negotiated wages in Q3 picks up sharply - Scotiabank
European Central Bank (ECB) data showed that negotiated wage growth picked up to 5.4% in Q3, from 3.5% in Q2, Scotiabank's Chief FX Strategist Shaun Osborne notes.
USD firmer, poised to resume gains - Scotiabank
Steadier sentiment across risk assets prevails this morning, allowing gains in global stocks and a broader rebound in the US Dollar (USD) after a few days of mild losses, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Gold moderates lower as stronger US Dollar weighs
Gold (XAU/USD) pauses its recovery and pulls back into the $2,620s on Wednesday due mostly to the effect of a stronger US Dollar (USD).
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