Dangerously Slow US Economy

This week’s PMI business activity figures were much weaker than expected, reflecting the impact of the sharpest monetary tightening in more than 40 years on the economy.

Are Cracks Appearing in the US Labour Market? NFP Eyed for Further Evidence

We're seeing some cautious trading ahead of the jobs report on Friday, with today's jobless claims data offering signs of cracks appearing in the labour market.

RBA & RBNZ: Policy Divergence Down Under

In contrast with the RBA, the Reserve Bank of New Zealand (RBNZ) was more hawkish than expected at its April monetary policy meeting. The RBNZ surprised market participants, delivering an unexpected 50 bps rate hike to 5.25%. Policymakers cited inflation is still too high and persistent, while employment is beyond its maximum sustainable level.

Fundamentals Point to Rising EUR/USD

After coming back from parity late last year, the Euro has been steadily rising for months. As it's getting close to the technically significant 1.1000 handle, it's worth having a look at the fundamentals. Is there enough drive to push through the resistance point, or will technicals be able to overcome fundamentals?

Weekly Economic & Financial Commentary: OPEC+ Surprises With Production Cuts

The Organization of the Petroleum Exporting Countries (OPEC) surprised markets early this week by cutting production in an effort to boost oil prices after the latest selloff. The production cuts could lead to renewed inflationary pressures in the United States and other parts of the world.

Forex and Cryptocurrency Forecast

The dollar seems to be either weakening or not. On the one hand, the DXY dollar index updated a two-month low on April 4, falling below the support of 101.50, and EUR/USD rose to a new high of 1.0972. On the other hand, the pair returned by the end of last week to where it had already been on March 23 and 31.

Crypto Market Continues to Trade Sideways

Bitcoin gained 1.9% over the past seven days to $28.3K. Ethereum gained 4% to $1860. Other top ten altcoins showed mixed dynamics, ranging from a 1.4% decline (XRP) to a 6.2% gain (Dogecoin). The total capitalisation of the crypto market, according to CoinMarketCap, rose 2% over the week to $1.185 trillion.

Can a Sidelined Bank of Canada Prove Positive for the Loonie?

In March, the Bank of Canada became the first major central bank to stop raising interest rates, with investors now assigning a small probability for a rate reduction at Wednesday’s gathering. What will policymakers decide, what signals will they provide with regards to their future course of action, and how may the loonie respond?

Weaker Data Will Be Much Appreciated at the Halls of the Bank of England

With the UK banking sector surviving the March developments – a sign of good banking regulations or clever hedging from UK banks – the focus remains squarely on economic developments. Inflation remains a proper thorn in BoE’s side that will become even bigger if this week’s data send the wrong message. Could the pound continue to outperform the euro and other major currencies despite the dovish stance by the BoE?

Australian Dollar Flat in Holiday-Thin Trading, Business and Consumer Confidence Releases Next

AUD/USD is flat on Monday, as Australia is closed for a bank holiday. There are no Australian releases and no tier-1 events in the US today, which means it should be an uneventful day for the Aussie.