Forex Market

Gold prices surged over 1% on Wednesday due to weak US economic data and rising Fed rate cut expectations. The latest FOMC meeting minutes showed that “several participants” were ready to lift rates if inflation remained elevated. The Institute for Supply Management (ISM) shows contracting US services activity, while labor …

The US Federal Reserve will release its June 11-12 policy meeting minutes on Wednesday at 18:00 GMT. Investors will scrutinize the Fed’s hawkish hold and inflation outlook to gauge the timing of the expected interest rate cut this year. The Fed maintained its monetary policy settings for the seventh consecutive …

European stocks enjoyed a boost on Wednesday, buoyed by Federal Reserve Chair Jerome Powell’s encouraging remarks and anticipation surrounding key political events in France and the UK. The pan-European STOXX 600 index rose 0.3%, marking its second gain in seven sessions. Investor sentiment was lifted by Powell’s comments regarding “significant …

With another session of quiet trading activity across the FX sector, the US dollar moved marginally defensively. At their discussion panel at the ECB Forum, Fed Chair Jerome Powell and ECB President Christine Lagarde left no space for surprises in the interim. Investors are bracing themselves for a plethora of …

Powell Cites “Actual Advancement” While Central Bankers Evaluate War Against Inflation. Christine Lagarde, the head of the European Central Bank, and Jerome H. Powell, the chair of the Federal Reserve, both sounded upbeat about recent inflation figures but emphasized the need for greater confidence before cutting interest rates. Over the …

Gold fell 0.28% following Fed Chair Jerome Powell’s remarks at the ECB forum in Portugal. Powell stated that he is cautiously optimistic on disinflation and emphasizes the need for more progress before rate cuts. US Treasury yields remain firm, while the US Dollar fluctuates in familiar range. The XAU/USD trades …

On Tuesday, the DXY Index showed a decrease in gains to hover near 105.70. The Greenback is influenced by rising JOLTS figures and Jerome Powell’s comments about the inflation outlook.The US Dollar experienced minor losses following Jerome Powell’s disinflation forecasts, with JOLTs figures from June coming in higher than expected. …

The Eurozone is “very advanced” on the disinflationary path but there remain “question marks” hanging over the outlook for economic growth, European Central Bank President Christine Lagarde said on Tuesday.“We’re very advanced on that disinflationary path,” Lagarde told the ECB’s annual Forum on Central Banking. “We are in that slow …

The British Pound has seen a sharp recovery after retracing to 1.2620 against the US dollar in Tuesday’s New York session. This comes as the US Dollar surrenders its gains after Fed Chair Jerome Powell admitted progress in disinflation in his speech at the European Central Bank (ECB) Forum on …

The U.S. dollar continued its upward trajectory on Tuesday, bolstered by rising U.S. Treasury yields, while putting pressure on low-yielding currencies like the Chinese yuan and the Japanese yen, which plunged to its weakest level against the dollar since 1986. Dollar Strength Driven by Rising U.S. Yields Benchmark 10-year Treasury …