USD/CAD has continued to rally despite what some might perceive to be overextended conditions. The question traders are asking at the moment is whether this is now the top.The US dollar is on fire due to fundamentals yet commodities could be on the verge of a move higher which would …

Gold prices failed to hold above $1900 on Wednesday and hit their lowest level since late February in the $1880s. An improvement in risk appetite, rebound in US yields and strength in the US dollar all weighed. Now that key $1890 support has been broken, gold bears are eyeing support …

The EUR/USD pair extended its free fall, which accelerated on April 22 after closing around 1.0831. The pair has since plunged more than 400 pips, hitting a fresh 5-year low around 1.0514 on Wednesday. At 1.0564, the EUR/USD recovered some ground, aiming to finish the day with losses for the …

On Thursday, the first estimate of US GDP growth will be released. Analysts at Wells Fargo, expect a 0.6% annualized growth rate. They point out that although the economy does not appear on the cusp of another downturn, the probability of a recession next year is not insignificant. Key Quotes: …

Concerns over inflation are helping tamp down Americans’ confidence in the economy, according to a new poll released on Wednesday.A new Gallup poll shows that Americans have low levels of confidence in the U.S. economy, with just 2 percent of respondents rating the current economic conditions as excellent and only …

Russian President Vladimir Putin on Wednesday said that Western plans to suffocate Russia’s economy with sanctions have failed, reported Reuters. Putin accused the West of wanting to cut Russia up into different pieces and accused the West of pushing Ukraine into a conflict with Russia. Putin reiterated that Russia will …

US Pending Home Sales fell by 1.2% MoM in March, less than the expected 1.6% drop, after sales fell 4.0% in February, the latest figures from the National Association of Realtors showed on Wednesday. That meant the US Pending Home Sales index fell to 103.7 in March, from 105.0 a …

The Bank of Japan will hold its policy meeting on Thursday, April 28 at 03:00 GMT and as we get closer to the release time, here are the expectations forecast by the economists and researchers of six major banks.The BoJ is unlikely to announce any changes to its monetary policy …

The US economy probably will grow 3.1% this year even as the Federal Reserve tightens monetary policy to quell inflation, Goldman Sachs said in a forecast on Friday.That would be the second-fastest pace in 17 years, following 2021’s 5.7% spike in GDP. The unemployment rate probably will fall to 3.3% …

Forex trade was again dominated by risk-off on Tuesday, with the safe-haven yen and US dollar’s outperforming, as US equities cratered. Investors and traders cited everything from economic and military tensions between Russia and the NATO to China lockdown risk and worsening global growth expectations in addition to the anticipated …