News 17/03/2023

USD The dollar index traded on the backfoot amidst improved risk sentiment, as well as the ECB’s rate hike decision. Risk-aversion waned off in the session on the back of Credit Suisse’s announcement to borrow money from the Swiss National Bank to stabilize their liquidity “position”. The currency was placed under pressure despite an improvement in Initial Jobless Claims, which printed at 192K vs. an expected and prior prints of 205K and 211K, respectively. The dollar index touched a low of 104.065, before [...]

By |March 20th, 2023|

News 16/03/2023

USD Another day of banking woes enticed a risk-off mood which permeated through the market. Consequently, the dollar index made a turnaround and surged in the session amidst the drop in Credit Suisse’s (a Swiss bank) stock which led investors to flee to the safe-haven dollar. Although, there was a slight drop in the index after February’s Retail Sales data declined by 0.4% from an expected decline of 0.3%. This also prints lower than January’s 3.0% increase. Moreover, February’s PPI declined by 0.1% [...]

By |March 16th, 2023|

News 15/03/2023

USD The dollar index ended in the red and traded lower on the back of high inflation figures, despite slightly recovering in the session as Silicon Valley Bank fears ease down. Headline CPI for February increased by 6.0% YoY, in line with market expectation but lower than last year’s print of 6.4%. Similarly, headline CPI for February increased by 0.4% MoM, in line with market expectation but lower than last month’s prior of 0.5%. Whilst core CPI MoM for January increased by 0.5% [...]

By |March 15th, 2023|

News 14/03/2023

USD The US dollar took a nosedive in the session amidst the recent collapse of Silicon Valley Bank (SVB), one of America’s largest banks, which has taken a toll on the market as it may show how silently detrimental a continuous increase in interest rates has been. It cements the view that the Fed will stop their hiking cycle or hike less aggressively. Today all eyes will be on the much-anticipated US CPI figures as it is expected to be a key indicator [...]

By |March 15th, 2023|

News 13/03/2023

USD The US dollar came tumbling down for a fourth consecutive day on Friday on the back of economic data prints that advocates for an easing of interest rate hikes. Non-Farm Payrolls increased by 311K in February. Despite surpassing market expectation of 205K by 106K, it declined from January’s print of 517K by 206K. Furthermore, February’s Unemployment Rate increased by 3.6% vs market expectation and prior print of 3.4%. Both data releases may signify a shrinking economy. However, Jerome Powell has previously stated [...]

By |March 13th, 2023|

News 10/03/2023

USD The dollar came off in yesterday’s session weighed by a climbing weekly Jobless Claims print of 211K from an expected 195K, cooling bets of an increased pace of rate hikes from the Fed.  After weakening to its day’s low of $105.153, the unit managed to claw back some gains, before closing the day bruised at $105.309. EUR The shared currency found some reprieve and ticked higher, buoyed by a softer dollar, paired with the market’s risk-on impulse, which remained behind the wheels [...]

By |March 10th, 2023|

Contact Details

Tel: +27 (0)21 180 4295/6/7
Cell: +27 (0)79 014 4676
Fax: +27 (0)21 930 5493
Email: proglobal@pgforex.co.za

P.O. Box 6550 | Parow East
Cape Town | South Africa

Company Registration Number:  2002/031454/07

Additional Links

We are Social

Contact Form

Go to Top