Forex Market

GBP/USD retreats 1.70% from its year-to-date high of 1.3043, trading at 1.2826. Technical outlook shows bearish momentum, with key support at 1.2800 and potential further losses to 1.2612-1.2622 area. Buyers need to push past 1.2893 to challenge 1.2900 and higher resistance levels.The GBP/USD begins the week on the back foot …

The Federal Reserve Bank of Dallas released Dallas Fed Manufacturing Index report. The report indicated that Dallas Fed Manufacturing Index declined from -15.1 in June to -17.5, compared to analyst forecast of -12.Production Index declined from 0.7 in June to -1.3 in July, while New Orders Index decreased from -1.3 …

European stock markets opened the week on a positive note, driven by gains in the oil sector amid concerns of a potential escalation in the Middle East and supported by a series of encouraging corporate earnings. Market OverviewThe pan-European STOXX 600 index rose 0.4% by 0713 GMT on Monday, continuing …

The Japanese yen edged higher on Monday, recovering from early losses as sentiment remained fragile following a significant rally last week. This rally was driven by a tech-led stock rout in the U.S., which increased demand for safe haven assets like the yen. Market Focus on Upcoming Policy Decisions Traders …

Several factors dominated market activity throughout last week, including economic data, developments in the US political landscape ahead of the 2024 presidential election, escalating geopolitical tensions in the Middle East amid the ongoing war in Gaza, and updates on the monetary policies of central banks in major economies. Economic Data …

Gold prices surged 1.01% on Friday, supported by lower US Treasury yields amid growing optimism for an interest rate cut by the Fed in September after data showed US prices rose modestly in June.Spot gold was up about 1.01% to $2,389.71 per ounce, after hitting its lowest since July 9 …

As stable US core PCE inflation growth seems insufficient to affect firm Fed rate-cut expectations, the US dollar declines. It is largely expected that the Fed will hold interest rates steady the following week. The confidence of Fed policymakers on the return of inflation to a 2% path has increased. …

European stocks exhibited a flat performance on Friday, reflecting a lack of clear direction as investors digested a diverse range of corporate earnings reports. The pan-European STOXX 600 index remained steady at 508.9 points by 0710 GMT, heading towards its second consecutive week of losses after hitting a two-month low …

It is like a coin toss when the Bank of England decides on interest rates next week. The market is not as sure as most analysts that a rate cut will occur next week. There is disagreement among the members of the central bank’s policymaking committee; some support lowering interest …

The US Dollar Index held near 104, influenced by yen movements and rate cut speculation. The release of PCE data, personal income, personal spending, and the final Michigan Consumer Sentiment is expected to impact the dollar.The euro recovered recent losses, trading near 1.0870 against the dollar. The ECB’s Consumer Inflation …