Aussie is not effected by the downbeat Aussie data. In doing so, the Aussie pair keeps the early Asian recovery moves, amid the broad US dollar pullback. Australia’s reading of May’s Retail Sales has came below 0.7% forecast and 1.1% MoM prior to 0.1%, making the market fear of the negative economic impact of Victoria’s [...]
Fundamental view: Bitcoin fell against greenback in the last week. The U.S. Federal Reserve updated their inflation expectations for this year from 2.4% in March to 3.4% in their latest meeting that concluded on June 16. To tame inflation, the Fed plans to undertake two rate hikes before the end of 2023. Elsewhere Pantera Capital [...]
Fundamental view: Last week gold was crushed, with it having one of its worst weeks since Coronavirus hit last year. And it is worth recalling that the Fed took a sudden hawkish turn on Wednesday and brought forward its projections for the first post-pandemic interest rate hikes to 2023. The Fed also indicated that it [...]
Fundamental view: The Australian dollar has fallen rather hard during the course of the trading week. Chief Jerome Powell & Co. upwardly reviewed their forecasts on growth and inflation for this year and the next, bringing forward chances of rising rates, as the dot-plot now shows two possible hikes for 2023. Till now, the Fed [...]
