The USD/CAD pair retreats from weekly highs, extending its losses in the week to 0.18%. FOMC minutes confirmed that the June and July meetings would witness a 50-bps rate hike, each. USD/CAD, In the short term, is downward biased, and a break below 1.2713 would send the pair towards 1.2630.The …

Crude oil price slightly rose on Wednesday, buoyed by tight supplies and as US refiners drove refining activity to their highest level since before the coronavirus pandemic started. Brent crude futures for July rose by 9 cents to $113.65 a barrel. US West Texas Intermediate (WTI) crude for July delivery …

The Federal Open Market Committee minutes have been released which are so far sending the US dollar DXY index a touch softer.At the May 3-4 meeting, the Fed hiked rates the expected 50 bp to 1.0% and laid out plans for aggressive Quantitative Tightening to begin in June. There is …

For the Fed minutes and sessions ahead, the pair could be based here and result in a higher correction from support. Any Ultra Hawkish remarks by FOMC minutes will likely support the US dollar and potentially send the euro below 1.0640 towards a daily 61.8% ratio down at 1.0615.The US …

Gold price retreats from weekly highs around $1870 as investors prepare for the Fed’s May minutes. The US dollar remains buoyant, despite falling US bond yields and weighs on XAU/USD’s price.Gold slides below the 20-day moving average (DMA) and accelerates towards the 200-DMA at $1839.66 on Wednesday, courtesy of a …

The GBP/USD pair stops Tuesday’s losses and recovers some ground, gaining 0.42% in the week. The positive market sentiment boosts the prospects of the sterling, despite a strong US Dollar. The British pound recovers some ground on Wednesday during the North American session, bouncing near weekly lows around 1.2480s and …

The US dollar remained weak on Tuesday. The EUR/USD pair rallied beyond 1.0700 as more ECB officials vowed for a 50 bps rate hike. The GBP/USD pair, however, fell following softer-than-anticipated local data to end the day in the 1.2520 price zone.Economic Data S&P Global released the preliminary estimates of …

Gold price is holding above $1,860.00 ahead of FOMC minutes. The positive market sentiment has diminished the appeal of safe-haven assets. The US monthly Durable Goods Orders are seen lower at 0.6%.Facts that hold significant importance in the FOMC minutes are the number of voters advocating the 50 basis points …

US shares closed Tuesday’s trading session exhibiting mixed performance, after US President Joe Biden’s comments indicating that his administration is pondering restructure of tariffs imposed on Chinese goods and services.There was also a slew of economic data that shed light on a deterioration in the US housing sector as well …

Beijing is continuing quarantine to end its month-old COVID outbreak, while in Shanghai’s authorities plan to keep most restrictions in place this month, before a more complete lifting of the two-month-old lockdown from June 1.The Chinese capital reported 47 new Covid cases om Tuesday, compared with 48 on Monday. Cases …