Loonie Sinks as WTI Oil Nears $60, OPEC+ Hike Looms

The forex market entered a phase of relative calm during Asian session today, with major currency pairs and crosses having limited movement. The Dollar softened slightly overnight with to retreat in US Treasury yields, but the losses have been minimal. The greenback found support from Fed Chair Jerome Powell’s comments that Fed is not in […]

Last week, global financial markets were heavily influenced by evolving expectations surrounding central bank monetary easing paths and unexpected political developments. British Pound emerged as the most significant gainer, buoyed by fading expectations of an immediate BoE rate cut in June. This shift was precipitated by latest inflation data and compounded by the UK government’s […]

Sterling remains resilient, as supported by UK employment data indicating that wages remain robust. This development aligns with improved conditions in the UK’s services sector, as seen in yesterday’s PMI release, and suggests that underlying price pressures have not diminished despite growing pessimism tied to the Autumn Budget’s uncertainty. Markets maintain near-zero expectations for a […]