The risk of Russia invading Ukraine weighs on Euro and favors the safe haven US dollar. The soaring inflation reading of last week also weighs on the market sentiment, favoring the safe haven - USD. European Central Bank’s (ECB) Olli Rehn warned that overreaction to inflation by the central bank could stem the economic growth. [...]
Fundamental view: Bitcoin initially rallied against the greenback but later gave up some of its gains, However it managed to form a bullish weekly candle. The US dollar bulls was favored by the stronger than expected CPI data. The US reported the January Consumer Price Index, which soared to 7.5% YoY against the forecast of 7.2%,and [...]
Fundamental view: The yellow metal traded high against the US dollar with skyrocketing on the last day of the trading week. Gold was trading to the upside during the initial 3 days of the week taking advantage of weak dollar but on Thursday it tumbled due to the US dollar gaining strength with stronger than [...]
Fundamental view: The Australian dollar traded high against the American dollar during the trading course of this week, despite of the broad US dollar strength. The US reported the January Consumer Price Index, which soared to 7.5% YoY against the forecast of 7.2%,and the jump was the highest level since February 1982. This led to the [...]
