In a short 4.5-page testimony, Fed Chair Janet Yellen makes hawkish sounds, saying that the committee will evaluate the situation and perhaps raise rates in one of its upcoming meetings. Three rates hikes are possible with and in line with Fed forecasts. . Yellen sees the jobs market with rosy glasses: wages are rising in jobs growth [...]
The post Yellen sends dollar higher – opens door to March hike appeared first on Forex Crunch.
The euro-zone grew at a quarterly rate of 0.4%, lower than 0.5% originally reported. Other figures have been disappointing as well: industrial output dropped by 1.6%. The German ZEW economic sentiment slid all the way to 10.4 points and the current conditions components fell to 76.4 points. EUR/USD is sliding towards 1.0610, but not going very far. The [...]
The post Euro-zone GDP downgraded to 0.4% appeared first on Forex Crunch.
Inflation in the UK is slightly cooler than markets had anticipated. Prices dropped by 0.5% m-m as projected, but the y/y numbers are a miss. CPI is up 1.8% and core CPI remained stuck at 1.6%. GBP/USD, which was already sliding, extended the falls and hit a new low of 1.2483. Here is how it looks [...]
The post UK inflation misses with 1.8% – GBP/USD extends slide appeared first on Forex Crunch.
