Fed’s Chair Jerome Powell is testifying before congressional lawmakers this week, starting Wednesday morning with the House Financial Services Committee, just one week after the central bank paused its most aggressive rate-hiking campaign in decades.Powell doubled down on the hawkish view that the Fed isn’t done battling inflation in his …

The US Dollar remained higher on Tuesday as the market mood declined on news that stirred fears about Chinese economic growth that is seen as having lost momentum. The focus now shifts to Fed Chair Jerome Powell’s testimony before Congress.Key DevelopmentsThe People’s Bank of China (PBoC) cut two key lending …

Gold price remains pressured after breaking 100-DMA support during three-day downtrend. Risk aversion underpins US Dollar strength and weighs on the Gold Index. Fears of economic slowdown originating from China, higher rates in the West roil sentiment and favuor gold sellers. Fed’s Jerome Powell’s bi-annual Testimony will be crucial to …

Business sentiment at big Japanese manufacturers edged up in June, staying in positive territory for a second straight month and reflecting a post-COVID economic recovery though uncertainty remains high amid slowing global growth for June.Following the release, USD/JPY stretches the previous day’s retreat from the highest level in seven months …

The EUR/USD began the US session hesitating due to the US dollar’s strength, but the pair eventually managed to become higher after three-day downtrend. ECB policymakers keep suggesting higher rates even as inflation clues, growth numbers ease. Fed OFFICIALS ALSO reiterate hawkish bias ahead of Powell’s bi-annual Testimony before the …

The GBP/USD pair retraces below 1.2800 on the stronger US dollar ahead of Powell testimony and the Bank of England’s policy decision. The stronger US Dollar, driven by expectations of further tightening by the Fed and an overbought US equity market, has influenced the pair’s price movement. Fed Chair Jerome …

With no obvious directional bias, the price of bitcoin is still ambiguous. Ethereum, Ripple, and other altcoins are therefore constrained to consolidation. But when BTC gets closer to a breakout, things might change quickly. The most famous cryptocurrency is trading at $28262 at the time of writing.Since April 19, the …

The WTI fell to a five-day low of $69.82 before edging higher to $70.63 at the ti9me of writing, seeing more than 1.50% losses. PBoC rate cuts fueled energy demand concerns among Oil traders.World indexes declined following the decision signaling a negative market sentiment. On Tuesday, the West Texas Intermediate …

The USD/JPY pair has declined below the 141.50 zone, hitting a daily low of 141.28. Stealth intervention by the BoJ gives the Japanese yen considerable traction. The pair is trading at 141.27 at the time of writing. Cautious market mood amid PBoC rate cut is expected to limit the Yen …

As US markets were closed in observance of the Juneteenth Holiday, markets have had a tranquil start to the week with no data. The American Dollar partially recovered from the enormous losses of the previous week, but it is still struggling as Gold stays around $1,950 per troy ounce and …