Markets Almost Unanimously Expecting 25bps Fed Hike Today; UK Inflation Expected to Rise to 3.1%; Crude Oil Remains Elevated; Japanese Yen Weakens; Soybeans Bullish Near 2.5-Year High Price
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The following Forex news reports are the latest developments of the Forex market. The news reports are updated frequently and include all the events that affect the foreign exchange trading industry.
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Markets See 90% Chance of Fed Rate Hike, 10-Year Treasury Yield>5%; Canadian Inflation Contracted as Expected, Loonie Weaker; Crude Oil Remains Elevated as Tensions Continue in Hormuz; Yen Weaker
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Canadian CPI Data Due; Markets Awaiting US, UK Central Bank Meetings, UK Inflation; Bank of Japan and Fed Both Expected to Hike Rates Later; Yen Rise Pauses; WTI Crude Oil Remains Elevated Above $100
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The ECB last raised rates in June, the first rate hike since 2023, in response to the US-Iran war, which sent oil prices skyrocketing and pushed inflation higher. This scenario was repeated today, as renewed fighting in the Persian Gulf has pushed oil prices above $100 a barrel.
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ECB Expected to Hike Rate by 0.25% Today; Crude Oil Falling After Brent Breaks $100 on Hormuz Escalation; US PPI Data Release Today; Japanese Yen, Agricultural Commodities Remain Strong; US CPI Expected Unchanged Friday
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Japanese Yen Remains Strong; Crude Oil Trades Higher on Iran Fighting; US Dollar Soft Ahead of Friday's CPI Release; Agricultural Commodities Near Highs
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Yen Reaches Highest Level Since February as Rate Hike Expected; Crude Oil Continues to Gain on Hormuz Risk; US Dollar Weaker; Agricultural Commodities Continue to Trade Near Highs.
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Japanese Yen Refuses to Give Up Gain; Bullish Trends in Wheat, Soybeans, Corn, and Sugar Persist; Gold Slips Below $4,400 on US Jobs; Crude Oil Continues to Gain as Fighting Continues Around Hormuz
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The Bank of Canada (BoC) maintained its key interest rate at 2.25% on Wednesday, in a decision that was widely expected by the markets. The Canadian dollar has responded with slight gains against its U.S. cousin following the decision.
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Japanese Yen Makes Large Gain as Japanese Yields Fall; Gold Makes Strong Recovery; Several Agricultural Commodities Make Fresh Highs; US Dollar Remains Strong; Crude Oil Halts Rise on Seeming US De-Escalation
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RBNZ Raises Official Cash Rate by 0.25% to 2.75%, NZD Trades Lower; Crude Oil Surges on Higher Iran Tensions; BoC Policy Meeting Awaits Today; Agricultural Commodities Reach New Highs
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Crude Oil May be Making Bullish Breakout on Renewed US-Iran Fighting; US Dollar Remains Firm on More Hawkish Fed; Crypto Recovering; Markets Await US Data
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USD/JPY often rises when US Treasury yields rise because higher US returns widen the incentive to hold dollars rather than yen.
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US-Iran Strikes Lift Crude Oil; Hawkish Warsh Keeps US Dollar Supported; Gold and Crypto Weaken; Agricultural Commodities Hit Multi-Year Highs
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