Daily Economic Reports

Gold is expected to move sideways around $1,950 until the end of 2023 and beyond, according to economists. By the end of the year, there may be some scope for an upward move to $2,000 due to the US central bank’s sharp rate hikes. This could indicate that the American …

China’s economy grew in the second quarter of 2023 by 6.3%, against expectations of 7.3%. On a quarterly basis, the Chinese economy grew by 0.8% in the second quarter, slowing down from 2.2% levels, but it came better than expectations that indicated a growth of 0.5%. A spokesman for the …

The dollar hovered near a 15-month low on Friday, heading for its biggest weekly decline since November, after weak U.S. inflation data boosted investor bets that the Federal Reserve was close to ending its rate hike path. Data on Thursday revealed that U.S. producer prices barely rose in June, while …

Gold maintains choppy performance despite US dollar’s losses Given that the market’s expectations for future US interest rate increases have been greatly reduced, the recent decline in gold prices is likely to have come to an end. Even so, we anticipate some additional upside potential for the year’s conclusion. Because …

The dollar fell, hitting a two-month low on Wednesday, July 12, against other major currencies ahead of the release of US inflation data, while the British pound rose to a 15-month high on expectations that the Bank of England will continue to raise interest rates. The yen jumped to the …

The Bank of Canada is set to announce its Interest Rate Decision on Wednesday, July 12 at 14:00 GMT. The BoC is expected to hike rates by 25 basis points (bps) to 5.00%, contrary to its pause hints1. The decision will be published alongside a Monetary Policy Report, containing updated …

A short-term decline to $27,330 is anticipated to follow the price consolidation of bitcoin. A sell signal for ethereum causes an initial slump, but bears aim for $1,767. The $0.433 and $0.413 steady support levels will likely be retested by the ripple price. The price of bitcoin is still fluctuating …

The dollar fell to a two-month low on Tuesday after Federal Reserve officials signaled the tightening cycle was coming to an end, while sterling rose to a 15-month high after more-than-expected wage growth in Britain. Several Federal Reserve officials said on Monday that the bank would likely need to raise …

Turkish President Recep Tayyip Erdogan agreed on Monday to send Sweden’s request to join NATO to parliament, in a move that appears to end months of debate over the issue that has affected the military alliance while the war in Ukraine drags on. Sweden and Finland applied for NATO membership …

As the Bank of England’s hawkish stance became increasingly apparent, the EUR/GBP pair advanced. The US dollar’s decline gave the GBP a lift, and the Euro gave way to the Pound Sterling as long-term stagnation in the Eurozone looked certain.The EUR/GBP pair is now up 0.12% for the day and …