Forex

The pair turns cautious after hitting new 2023 highs, as inflation picked up in Japan, but still heads towards one of its best weeks of the year, due to the greenback’s strength

Congress is responsible for increasing these spending limits to avoid default, but Republican House Speaker Kevin McCarthy will not do so without an agreement on spending cuts and spending limits.

The pair had a mixed reaction to today’s wage price index form Australia and remains cautious, as markets digest discouraging Chinese data and debt ceiling talks in the US

The British Pound reacted lower to today’s data that showed an unexpected increase in the jobless rate, which could potentially help the BoE into a less aggressive stance, but wages remain elevated

The debt-ceiling impasse in Washington is currently the primary driver of the dollar's performance. Negotiations between President Biden and congressional leaders are set to resume on Tuesday, but without positive news, investor fears may continue to grow. As such, the balance of risks is currently tilted to the upside for the dollar, with safe-haven flows likely to continue as risk sentiment remains subdued.

The pair registered its worst week since September, as risk factors helped the greenback, but finds reprieve today ahead of critical support region

The Bank of England raised rates again on Thursday and despite keeping the door open to more tightening, the pair dropped on USD demand, but steadies today

The pair is having a bad month despite the hint of more hikes by the ECB, but catches a breath today, as Thursday’s policy decision by the Bank of England looms

The UK’s headline inflation printed at 10.1% on 19 April, which was higher than the 9.8% forecast. Wage inflation, released the day before, was also higher than anticipated at 5.9% (vs 5.1%). This puts the BoE in a difficult position considering that it targets 2% inflation. It is lagging the other major economies in its attempts to control price pressures.

the pair registered its sixth straight profitable day on Monday, boosted by the latest RBA and Fed monetary policy decisions, but faces difficulties today at a region it has rejected before

Live NFP trade - 05 May 2023