Forex News

The release of a number of US economic data points last week highlighted the magnitude of the threat of a recession, so that the US dollar was no longer the champion of the home market. The EUR/USD is rising.

News from Australia and New Zealand may not have an impact in the long term. But, they are a highlight in the short term.

ECB officials signaled the need to raise interest rates by 50 basis points a few more times in order to reduce the Eurozone inflation rate.

US retail sales show a declining public interest in spending amid rising interest rates and rampant layoffs. As a result, the US dollar exchange rate fell.

Japan's central bank refused to change policy while expressing concern about the economic conditions going forward. As a result, the yen exchange rate collapsed.

High wage increases may continue to drive accelerated inflation. Accordingly, the pound sterling exchange rate strengthened in the forex market.

USD/JPY has fallen about 3 percent in the past two days, while GBP/JPY and EUR/JPY have fallen to five-month lows.

US inflation data was negative for the first time since May 2020, causing the US dollar to lose against other major currencies.

Although market participants are still pessimistic about the outlook for the US dollar this year, the majority prefer to wait and see ahead of the release of US inflation data tomorrow.

The momentum of the Australian dollar's rally is waning, but the release of Australian retail and inflation data this morning is propping up the AUD/USD position.