FX Settle; Central Banks in Focus, BOC First Up; Loonie Steady
Summary: FX markets settled ahead of key central bank policy meetings which begin with the Bank of Canada (Sydney 1 am, Thursday, 28 October).
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Summary: FX markets settled ahead of key central bank policy meetings which begin with the Bank of Canada (Sydney 1 am, Thursday, 28 October).
Following 7/23/2021 8:02:37 PM GMT Gold closed near the lower limit of the weekly channel. Additional losses are likely if XAU/USD breaks below the 100-day SMA. FOMC meeting and US Q2 GDP data highlight next week’s economic calendar. Following a four-week winning streak, the XAU/USD pair struggled to make a decisive move in either direction and fluctuated between key technical levels. After rising above $1,820 on Tuesday, gold turned south in the second half of the week but managed to close the week a little above the key 100-day SMA, which is currently located a...
4/21/2021 12:34:15 PM GMT | By Eren Sengezer Annual Core CPI in Canada increased to 1.4% in March as expected. USD/CAD pair trades in the positive territory above 1.2600. Annual inflation in Canada, as measured by the Consumer Price Index (CPI), rose to 2.2% in March from 1.1% in February. This reading came in slightly lower than the market expectation of 2.3%. On a monthly basis, the CPI stayed unchanged at 0.5%. Moreover, the Bank of Canada's Core CPI, which excludes volatile food and energy prices, edged higher to 1.4% on a yearly basis in March an...
3/12/2021 1:39:45 PM GMT | By Eren Sengezer Annual Core PPI continued to rise in February. US Dollar Index clings to strong daily gains, stays below 92.00. The Producer Price Index (PPI) in the US for final demand fell to 0.5% in February from 1.3% in January as expected, the monthly report published by the US Bureau of Labor Statistics showed on Friday. On a yearly basis, the PPI rose to 2.8% from 1.7%. Further details of the publication revealed that the annual Core PPI climbed to 2.5% from 2% but came in slightly lower than analysts' estimate of 2...