Economic Report

British Prime Minister Rishi Sunak held his first cabinet meeting on Wednesday, a day after taking office with a promise to fix the previous government’s mistakes and stabilize the economy. High on Sunak’s agenda is preparing the financial market’s eagerly awaited financial statement, due out on October 31, but the …

The USD/CAD pair falls below its opening price by 0.57% as expectations and bets accelerate on Fed’s intention to slow the pace of policy and monetary tightening. These bets do weaken the US Dollar.Disappointing US housing data and consumer confidence deterioration also hurt the American dollar. Estimates refer to the …

The British pound rose on Tuesday, boosted by an improvement in risk appetite as Rishi Sunak prepares to take over as Britain’s prime minister. At the same time, the euro stabilized ahead of the European Central Bank’s expected rate hike on Thursday. The dollar rose slightly, but not far from …

Oil prices are trimming their losses after bouncing up from the $82.55 level. There are concerns about the Chinese zero-COVID policy. Such concerns do hurt crude oil.The lower US oil reserves have avoided a further decline in prices. WTI futures have picked up following the negative market opening on Monday. …

Gold prices fell on Monday (October 24th) as the dollar rose as investors sought to clarify whether the US Federal Reserve would ease monetary policy. And the price of gold in spot transactions fell 0.4% to $ 1650.77 an ounce by 0754 GMT, while US gold futures fell 0.1% to …

Japan’s government and central bank intervened in the currency market early Saturday to support the retreating yen, triggering a dramatic rebound against the dollar after the Japanese currency had reached a fresh 32-year low of nearly 152 against the dollar.Finance Ministry Vice Minister Masato Kanda told reporters he would not …

Gold price advances almost 1% as the market speculations accelerated on FOMC’s intention. A WSJ article noted that FOMC members could be split about December’s rate hike, as November increase to the Fed funds rate (FFR) 75 bps, is certain. The precious metal is trading at $1651.36 per ounce at …

The gold price has moved back to flat position on the day to print around $1,629.25 after moving between the $1,622.54 low and the $1,628.93 high for most of the session, reversing two losing sessions as the US dollar eased. At the time of writing the precious metal is trading …

US main indexes struggled for direction on Wednesday as a surge in Treasury yields to 14-year highs on expectations of bigger interest rate hikes diminished optimism from the positive start to the earnings season.While some gauges of the equity market’s health showed that the latest rally may be the start …

Sterling fell on Wednesday after a bigger-than-expected rise in consumer price inflation in Britain and fears of a deeper recession in the country fueled expectations that the Bank of England’s November interest rate hike would be less severe. The dollar consolidated at a 32-year high against the yen and rose …