The Dollar saw a significant increase in value for the second consecutive week due to a rise in US yields, pushing the USD Index (DXY) beyond the 104.00 level. Both the Federal Reserve (Fed) and the Bank of England (BoE) delivered dovish holds, while the Bank of Japan (BoJ) announced a dovish hike after 17
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The USD/JPY pair slipped to 151.00 in Friday’s late European session, showcasing the strength of the Japanese Yen against the US Dollar. Japan’s hot inflation data for February played a significant role in boosting investors’ confidence in the Bank of Japan’s (BoJ) decision to pivot towards policy normalization. The annual National headline Consumer Price Index
The recent comments from the Federal Reserve had a significant impact on the gold market, leading to a 3% increase initially. However, the dollar’s recovery later in the day caused this gain to dwindle to just 0.5%. This volatility in the market showcases the uncertainty and unpredictability that investors are currently facing. While the technical
The recent surge in immigration into the U.S. is proving to be beneficial for the economy, according to Joyce Chang, chair of global research at JPMorgan. Despite facing global challenges, the U.S. economy is displaying resilience, with the Federal Reserve raising its GDP growth projection to 2.1% for 2024. This increase comes after the economy
USDCAD recently experienced a flash drop to 1.3454 but managed to recover successfully. The pair closed Thursday’s session above both the 50-day and 200-day Simple Moving Averages (SMAs), indicating a strong bullish momentum. This recovery has allowed USDCAD to maintain its position within a short-term bullish channel. On Friday, the bulls took charge and drove
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The U.S. existing home sales have surged to a one-year high in February, showing a promising trend for the upcoming spring selling season. The National Association of Realtors reported that home sales increased by 9.5% last month to a seasonally adjusted annual rate of 4.38 million units, the highest level since February 2023. This marks
The Federal Reserve’s recent decision to maintain the dot plot view for interest rate reductions this year has resulted in a direct response in the markets. Federal Reserve Chair Jerome Powell’s accommodative stance following the FOMC meeting has led to a decline in the dollar. Powell’s willingness to maintain vigilance on inflation while indicating a
In a recent blog post on the International Monetary Fund (IMF) website, Managing Director Kristalina Georgieva warned about the growing pressure on central banks to cut interest rates during a major election year. She highlighted the importance of maintaining central bank independence, stating that policymakers need to resist these pressures. Georgieva emphasized that central banks
The AUDUSD pair has been experiencing a steady decline since early March, slipping below both its 50- and 200-day simple moving averages (SMAs). However, following dovish signals from the FOMC, the pair managed to reverse its downward trend and reclaim the SMAs. This recovery comes as a result of the market reacting positively to the
The EUR/USD pair gained ground for the second consecutive session following the Federal Reserve’s decision to maintain its benchmark rates at 5.5%. Fed Chair Jerome Powell’s remarks in the post-meeting press conference highlighted a dovish stance, which added further pressure on the Greenback. Powell pointed out that while inflation is showing signs of moderation, the