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Wednesday: The dollar stabilizes as the Fed downplays rate-cut bets. Range-bound in 2023 amid expectations of prolonged higher rates.
Tuesday: Yen falls vs. dollar as BOJ keeps its ultra-loose policy. Eyes on Ueda's press conference for negative rate exit signals.
The US dollar opened lower, continuing its decline post-Fed meeting, signaling potential 2023 rate cuts. The yen stabilized after last week's 2% rise.
The dollar is poised for the biggest weekly drop since July as the Fed signals next-year rate cuts. European central banks maintain restrictive policies.
The Bank of England shifts, but rate cuts are uncertain. The UK battles inflation, forecasted at 3.6% in March—higher than the US and Eurozone.
Thursday saw the dollar dip as the Fed's new economic outlook suggested the end of the interest-rate hike cycle, signaling a policy shift in 2024.
The dollar rose ahead of the final Fed meeting this year. The unexpected US consumer price increase in November tempered expectations.
The dollar drifted lower in the Asia session on Tuesday as traders turned their focus on US inflation data and a slew of central bank meetings ahead.
The dollar opened strong on Monday, with US inflation data and the final Fed meeting of the year expected to shape the week ahead.
Gold hit a record $2,100 high, focusing on the Fed's rate cut timing. There is uncertain demand in China and India, with China's gold demand decreasing.
The dollar steadied before US job data, set for a weekly gain. The worst performance in a year occurred last month due to peak rate expectations.
On Thursday, the euro hit a 3-week low versus the dollar. Traders estimate an 85% chance of the ECB cutting rates in March.
Wednesday saw the dollar near a two-week high and the euro weaken globally amid bets that the ECB will loosen in H1 2024, following the Fed.
The US dollar rebounded to a near-one-week high. Key employment data this week may impact investor views on the interest rate trajectory.
Friday: dollar down, euro up. US spending rose moderately in October, with the smallest annual inflation increase in over 2.5 years.