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Forex Market: AUD/USD pressured near 2-year lows even as RBA hikes rates for third straight month, flags further tightening

AUD/USD remained pressured near the two-year low from last week even after the Reserve Bank of Australia raised interest rates for a third consecutive month at its policy meeting earlier on Tuesday and signaled further tightening ahead in an attempt to bring surging inflation back under control. The RBA raised its cash rate by 50 […]

July 5, 2022, 9:21 am in Currency News

Forex Market: US Dollar remains elevated as growth fears boost haven demand, risk-sensitive currencies under pressure

The US Dollar remained firm and risk-sensitive currencies were under pressure and in proximity to multi-year lows on Monday, as investors sought the relative safety of haven assets amid concerns over slowing global economic growth. Trade volumes are likely to remain thin on Monday due to the Independence Day holiday in the United States. The […]

July 4, 2022, 9:00 am in Currency News

American total consumer debt increases by $300 billion in Q1 2022 amid surging inflation

At a time when US consumer price inflation has reached highs unseen in over 40 years, consumer borrowing in the country has also been on the rise. The general Consumer Price Index (CPI) for all urban consumers surged at a staggering rate of 8.6% year-on-year in May 2022, or the sharpest annual rate since December […]

June 28, 2022, 9:22 am in Currency News

Forex Market: USD/CAD falls to two-week trough as oil prices extend rally

USD/CAD registered a fresh two-week trough on Tuesday, as the Loonie drew support from recent rally in oil prices. WTI Crude Oil gained for a third straight trading day on Tuesday as key oil producers Saudi Arabia and the United Arab Emirates flagged capacity limitations, while political unrest in Libya and Ecuador additionally heightened supply […]

, 9:11 am in Currency News

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