Forex Market

EUR/USD is about 0.70% up, trading at 1.0427 at the time of writing. Earlier on Friday, the EUR/USD pair has rebounded above 1.0400 in the North American session after posting a three-week low near 1.0340 in Asian trading hours. The major currency pair’s growth in the US Personal Consumption Expenditures …

The cryptocurrency market has experienced a significant downturn, with Bitcoin plunging below $100,000, trading at the time of writing at only $97,173, down some -0.23 on the day, and other major tokens suffering even steeper losses. This sharp correction coincides with a shift in the Federal Reserve’s monetary policy stance, …

US House Speaker Mike Johnson will attempt to pass what is known as a “temporary plan” later on Friday, involving a funding bill for the federal government at current debt levels. This plan includes certain provisions aimed at garnering public support and avoiding the US from suspending its debt ceiling …

The latest inflation data provides a glimmer of hope in the ongoing battle against rising prices. The Personal Consumption Expenditures (PCE) price index, the Federal Reserve’s preferred inflation gauge, showed a modest increase of 0.1% in November, translating to an annual rate of 2.4%. This reading, while still above the …

The Russian Central Bank surprised markets on Friday by maintaining its key interest rate at 21%, contrary to widespread expectations of a 2-percentage-point hike. Analysts had anticipated a rate increase to 23%, but the bank justified its decision by citing the effectiveness of recent tightening measures in curbing inflationary pressures. …

Gold prices held near a one-month low in Asian trade on Friday, heading for their third consecutive weekly loss as the Federal Reserve’s slower-than-expected rate cut projections for 2025 weighed on investor sentiment. Gold Performance Spot gold edged up 0.1% to $2,596.82 per ounce, while Gold futures for February delivery …

European stock markets ended the week on a downbeat note as concerns about a potential trade war with the U.S. and disappointing economic data weighed on investor sentiment. Indices Under Pressure Germany’s DAX dropped 1.1%, France’s CAC 40 slid 1%, The UK’s FTSE 100 fell 0.4%. Trade Tensions Escalate with …

The U.S. dollar ended the week on a high note, hitting a two-year peak as hawkish signals from the Federal Reserve continued to bolster its appeal. In contrast, global currencies faced significant pressure, with the yen, sterling, and commodity-linked currencies like the Australian and New Zealand dollars recording steep losses. …

President-elect Donald Trump has announced a new plan to fund the government and lift the debt ceiling, a day before a government shutdown. He praised Speaker Mike Johnson and House Republicans for coming to a “very good Deal,” urging Congress to swiftly pass it in votes as soon as Thursday …

Central Banks Hold Steady, US Core PCE in Focus The Bank of England and the Bank of Japan both held interest rates steady at their respective policy meetings. While the BoE’s decision had a limited impact on the Pound, the BoJ’s rate hold weighed heavily on the Yen.With a relatively …