The US Dollar Index, a gauge of the buck’s value vs. a basket of its rivals, advances 0.30% at 110.895. Market participants turn to the next week’s Open Market Committee (FOMC), in which most analysts expect the Fed to hike rates by 75 bps. However, December’s meeting is split between …

The GBP/JPY registered strong gains during the week of 2.72%. The Bank of Japan intervention gave GBP/JPY buyers a better entry price around the weekly lows of 165.43.The GBP/JPY pair is still upward biased, about to test the February 2016 high at 175.01. The pair also rallies to fresh six-year …

Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as the US dollar and US Treasury yields surged. The most active gold contract for December delivery fell 20.8 U.S. dollars, or 1.25 percent, to close at $1645.20 per ounce at the time of writing …

Treasury Secretary Janet Yellen said that she did not see signs of a recession in the near term as the US economy rebounded from six months of contraction.Yellen also noted the third quarter GDP data released Thursday underscored the strength of the US economy less than two weeks from the …

The euro has extended its losses on Friday after failing to regain 0.8650. Sunak’s appointment as British PM saved the British pound. It is commonly perceived that The GBP remains, supported by the Sunak effect.The euro depreciated against the pound for the fourth consecutive day on Friday, to test the …

The Federal Reserve chairman Jerome Powell, this week, received separate letters from two Democratic lawmakers; Senator Sherrod Brown of Ohio and Senator John Hickenlooper of Colorado who called on the US central bank to slow its aggressive pace of interest rate hikes.Biden’s administration and several congressional Democrats have generally supported …

Friday’s new inflation data has indicated that while prices kept uncomfortably high in September, a slowdown in wage growth could be seen as a signal of some relief. That is an encouraging development for the Fed, which is battling to bring down the highest inflation in 40 years.The Personal Consumption …

The number of total active drilling rigs in the United States fell 3 this week, according to new data from Baker Hughes published on Friday. The total rig count slipped to 768 this week—224 rigs higher than the rig count this time in 2021.Oil rigs in the United States fell …

The American dollar restores its previous weak tone, as US Treasury yields edged sharply lower following the release of the preliminary estimate of the Q3 Gross Domestic Product. Important events are streaming on the macroeconomic calendar having less impact than anticipated, despite bringing about some new developments. Wall Street got …

Euro sinks after ECB rate hike, US dataThe euro dropped more than 1% on Thursday, falling back below parity with the dollar, after the European Central Bank raised interest rates and following Thursday’s US data showing that the world’s biggest economy rebounded more than expected in the third quarter.The ECB …