Business activity in the US manufacturing sector contracted for the second straight month in December with ISM’s Manufacturing PMI declining to 48.4 from 49 in November. This reading came in slightly below the market expectation of 48.5.The US Dollar Index edged higher in an initial reaction and was last seen …

On Tuesday, the US dollar soared against all of its major rival currencies. The dollar started the day on the back foot, but secured robust gains early during the European session, triggering stops and further accelerating its advance. Key Developments EU countries reached an agreement on a coordinated approach to …

The Dollar Index climbed to near two-week high around 104.65 after a solid recovery from 103.00. The GBP/USD pair has shifted its performance below the psychological support of 1.2000 in the early Asian session. The pair failed in taking control above the 1.2000 mark amid risk aversion. A significant drop …

The Japanese yen was down slightly on the day at 130.77 after earlier hitting a six-month high of 129.51 against the US dollar. At the time of writing, the USD/JPY pair is trading at 131.32 at the time of writing. The yen’s latest rally followed a Nikkei report on Saturday …

Tesla delivered 405,278 vehicles in the fourth quarter of 2022. It is a record result for a quarter, but Wall Street was looking for closer to 420,000 electric vehicles.Fourth quarter deliveries have been disappointing, and Tesla’s shares are dropping while Wall Street analysts are closely watching price targets. Wall Street …

WTI, the US crude oil benchmark retreats more than 3% on Tuesday, due to increased concerns of diminishing demand from China, as the country battles spurring Covid-19 cases amidst increasing worries for a worldwide recession. At the time of writing, WTI is trading at $77.42 per barrel, below its opening …

The US dollar has recovered momentum during the US session as market sentiment deteriorates. The Swiss Franc falls across the board, so, the EUR/CHF pair rises toward 0.9900. The pair has best performance in weeks, gains 1.40%. The USD/CHF pair is rising sharply on Tuesday amid a stronger US dollar …

The US dollar’s strength continues on Tuesday despite the declining Manufacturing PMI data. On the other hand, the Euro extends its losses as a reaction to Germany’s inflation data. So far, the dollar recovered and reached fresh two-week highs, although T-yields retreated.The US Dollar Index climbs close to 1%, at …

Silver rallied sharply, more than 1.60%, as liquidity conditions improved on Tuesday. The stronger US dollar was no excuse for the Silver Index to print solid gains, bolstered by falling US bond yields.Falling US Treasury yields underpinned the white metal. Wall Street is expected to enjoy a higher open, even …

Data released on Tuesday has showed inflation slowdown in December in Germany more than expected. The Consumer Price Index (CPI) declined to 8.6% in December from 10% in November, but, in fact, core inflation increased further and added inflation will likely surge again in January.German inflation fell sharply from 10.0% …