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ECB’s Rehn: 50 bps hikes likely in Feb, March

Dhwani Mehta FXStreet

European Central Bank (ECB) Governing Council member Olli Rehn said on Friday, “50 basis points (bps) hikes are likely in February and March.”

He added that there is “quite some way to go with rate hikes.”

Market reaction

EUR/USD is off the highs, trading around 1.0610 despite the hawkish comments from the ECB policymaker.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

AUD/USD rises to 0.6950 as USD slips on Fed's Warsh

AUD/USD regains traction and extends the bounce toward 0.6950 in the Asian session on Friday. Fed Chair Warsh's comments reinforce the selling pressure on the US Dollar, allowing the pair to stretch higher. Warsh said that he remains committed to delivering price stability without giving away anything on future interest rate path.

USD/JPY falls in symc with USD, gives up 158.00 after Warsh's speech

USD/JPY has come under fresh selling pressure and gives up 158.00 in the Asian session on Friday amid the emergence of fresh US Dollar selling. Fed Chair Warsh's non-committal commentary on the future tightening path, weighs on the US Dollar and the pair.

Gold bounces back toward $4,200 as Warsh downs USD

Gold has changed course, bouncing back toward $4,200 in the early European morning on Friday, as the US Dollar weakens following Warsh's comments. Warsh stuck to his commitment to delivering price stability, while noting that he won't pre-judge meetings.

Bitcoin holds $80,500; Ethereum rebounds, Ripple weakens

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) show mixed price action on Friday, with BTC and ETH holding above key support levels while XRP struggles below key resistance. Meanwhile, sticky inflation figures have dampened risk appetite, and momentum indicators for these top three cryptocurrencies have also weakened, signaling a risk of a deeper correction if key support fails to hold.

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Everyone's dumping Gold after hot US inflation. Here's why $4,100 could be a floor, not a cliff

Gold (XAU/USD) is recovering from a sharp sell-off triggered by hotter-than-expected United States (US) inflation data released on Wednesday. The precious metal briefly plunged toward $4,073 as investors increased their bets on further Federal Reserve (Fed) interest rate hikes before recovering as US Treasury yields and the US Dollar (USD) reversed their initial gains.

ECB’s Rehn: 50 bps hikes likely in Feb, March

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AUD/USD rises to 0.6950 as USD slips on Fed's Warsh

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