Swiss central bank officials cut interest rates to their lowest level since September 2022 to stem the flow of funds into the Swiss franc and said the possibility of further rate cuts at present is relatively small. On Thursday, officials led by the central bank’s president, Martin Schlegelmilch, cut the benchmark interest rate by a […]
The Federal Reserve kept the interest rate at 4.25-4.5% unchanged at its March meeting overnight. Meanwhile, the dot plot still indicates there are two potential rate cuts in 2025. Powell’s stance in the post-meeting statement was neutral with a hint of firmness, but this still failed to help the US dollar consolidate its rebound momentum. […]
The pound has broken through $1.30 for the first time since November last year as expectations are that UK interest rates will remain above those of major currencies this year. The pound rose 0.1% on Tuesday to $1.3001, also supported by the general weakness of the dollar amid concerns over US economic growth and uncertainties […]
Europe’s historic shift towards increased fiscal spending has prompted asset managers to raise their bullish euro positions to a five-month high, while hedge funds have reduced their bets on the euro’s weakness. Just days after Germany announced it would loosen its fiscal reins and spend hundreds of billions of euros to revamp European defense, fund […]
After the Trump administration continued to impose global taxes on the imports of these two materials, Canada announced the imposition of new 25% tariffs on approximately 30 billion Canadian dollars (20.8 billion US dollars) worth of American products, including steel and aluminum. Canada’s retaliatory measures will also apply to consumer goods such as computers and […]
The Canadian dollar rose in volatile trading as trade war risks first spiked and then eased ahead of the Bank of Canada’s meeting on Wednesday, where policymakers are expected to cut interest rates to shield the economy from the threat of U.S. tariffs. The Canadian dollar rose 0.4% to 1.4380 against the US dollar after […]
Tech stocks suffered their biggest one-day drop since 2022 as investors’ concerns over an impending economic recession intensified. The Nasdaq 100 index plunged 3.8%, with Monday’s sell-off wiping out more than $1 trillion in market value. Meanwhile, the Bloomberg Big Seven Technology Index (an equal-weighted index tracking the largest U.S. technology stocks) dropped 5.4%, extending […]
The dollar index closed this week with its biggest weekly performance in more than two years as traders grew disappointed with the US exceptionalism and expected that trade policies would slow down the growth of the world’s largest economy. The Bloomberg Dollar Spot Index dropped 2.3%, marking the biggest weekly decline at the close since […]
On Thursday, the European Central Bank cut interest rates by 25 basis points to 2.65%, but immediately indicated that the rate-cutting phase might be coming to an end as inflation cools. The euro continued to rise. This led the money market to reduce bets on further action, and they now expect no more than two […]
Options market data indicates that traders are not optimistic that the euro, which has risen by 4% this week, will be able to sustain its strong momentum in the coming weeks. Previously, due to the breakdown of the mineral agreement negotiations between the United States and Ukraine, and Germany’s announcement of defense and infrastructure plans […]