The World Bank sharply cut the global economy’s growth forecast for 2023 as a result of the prevalent persistently high inflation and on the back of accelerating worldwide recession-linked concerns.The bank expects global growth to slow to 1.7% in 2023, down from an estimate of 3% growth in June. That …

Fed Chair Jerome Powell said that stabilizing prices requires making tough decisions that can be unpopular politically. Powell on Tuesday emphasized the need for the central bank to be free of political influence while it tackles persistently high inflation.Powell’s speech did not contain any direct clues about where policy is …

The US dollar started the trading week with losses amid optimism weighing on the American currency’s safe-haven standing. Investors and traders are assessing US macroeconomic data published on Friday, which suggests the Federal Reserve could slow the pace of tightening after wages-linked data.The EUR/USD pair hit 1.0760, holding on to …

The USD/CHF pair has attracted more demand after a marginal correction closer to the 0.9200 mark amid positive risk appetite that is obviously cautious and keeping an eye on the performance of rising US Treasury yields.Fed Bostic, on Monday, said that no recession in CY2023 but has trimmed his GDP …

The Pound Sterling advances against the US Dollar during the US trading session due to the market’s positive sentiment boosted by expectations that the US Federal Reserve would slowdown the pace of upcoming rate hikes.This expectation comes during the week that will witness the key CPI data, inflation report in …

Bitcoin has been stuck between $16k and $18.5k for 2 months, and currently, it has taken off above the $17,000 mark but doubts do exist among traders ahead of the key CPI data for December in the United States on Thursday, meanwhile, comments and remarks by Fed officials are closely …

US equities had a surprise reason for celebrating with the first day of the second trading week in the new year. So far, in 2023, Wall Street has swung from sadness to joy.US Stocks are enjoying a robust year beginning after 2022’s disappointing performance. Even though the Dow fell more …

Atlanta Fed President Raphael Bostic said the central bank should raise interest rates above 5% by early in the second quarter and then go on hold for “a long time.”Bostic said on Monday that it is ”fair to say that the Fed is willing to overshoot”, mentioning the likelihood that …

The AUD/USD pair is surging due to traders’ speculations that the US Fed would shift dovish. The US 10-year Treasury bond yield continues to edge lower, eyeing the 3.50% threshold and weighing on the USD.The AUD/USD pair sharply soars above the 0.6900 figure on speculations that the Fed would change …

Gold price holds onto latest gains as the rally in Wall Street continues. Monday’s weaker US Dollar offers support to the Gold Index that continues to look forward to $1,880.Strong demand for Treasury bonds as market participants await a less hawkish Fed. Gold prices are holding up and near the …