Market Update – February 2 – A Continued Battle of Wills
Stocks surged, Yields dove sharply, and the US Dollar slumped on Wednesday and they are holding their gains/losses so far today as well. The FOMC delivered the 25bp rate hike as expected, reaching 4.75%, an eighth straight hike. The moderation & the lack of anything new or overly hawkish from Powell’s comments and his acknowledgement of progress in the fight against inflation opened the door […]
USD continued to weaken on January 11th, eyes on UK GDP data
The US Dollar resumed its decline against the British Pound and the Euro as investors and traders focus on the release of US inflation data due on Thursday January 12th. The US Dollar Index (DXY) remains pressured towards the 103.00 round figure, barely higher than the lowest level recorded in the last seven months. As […]