Forex Market

The Federal Reserve (Fed) should be able to start cutting interest rates by the end of 2024, according to Kristalina Georgieva, managing director of the International Monetary Fund.At the press time, the US Dollar Index (DXY) was down 0.01% on the day to trade at 105.27.Key Quotes“We remain on our …

Falling US Treasury yields and a declining US dollar have helped to dramatically boost gold prices. In an uncertain environment, mixed signals from labour data and producer inflation support gold. Fed officials’ concerns about inflation strengthen Gold’s appeal as a safe haven, influencing sentiment. The price of gold recovered its …

The European Central Bank (ECB) decided to maintain interest rates at all-time highs following its governing council meeting in Frankfurt on Thursday. However, the ECB signaled a potential rate cut at its next meeting in June. The benchmark deposit rate was kept at 4 percent until policymakers were confident that …

The dollar gained ground on Thursday following the release of higher-than-expected US inflation data, which tempered remaining expectations for the Federal Reserve to initiate a cycle of interest rate cuts in June. Meanwhile, the yen depreciated to mid-1990s levels. Investor attention has now shifted towards US producer price data and …

European shares opened cautiously on Thursday, reflecting a sense of apprehension ahead of the European Central Bank’s (ECB) monetary policy decision and President Christine Lagarde’s remarks regarding potential interest rate cuts. As of 0720 GMT, the pan-European STOXX 600 remained flat, with the telecommunications sector experiencing a 1.3% decline. Market …

On Thursday, Japanese Finance Minister Shunichi Suzuki made a verbal intervention. Suzuki stated that he will not rule out taking any measures in response to unwarranted movements in foreign exchange. He went on to say that he and Vice Finance Minister Kanda are always talking about foreign exchange. As of …

According to latest FOMC meeting minutes, the US Federal Reserve wants greater assurance that inflation is heading towards its target of 2%. At their meeting in March, Federal Reserve officials voiced concern that inflation was not decreasing rapidly enough, but they still anticipated lowering interest rates later in the year. …

According to the US Bureau of Labour Statistics (BLS) report released on Wednesday, the annual rate of inflation in the US increased to 3.5% in March from 3.2% in February, as shown by changes in the Consumer Price Index. This result above the 3.4% market expectation. The US Dollar gathered …

Amidst mounting tensions in the Middle East and an unexpected surge in US crude oil inventories, oil prices held steady in early trading on Wednesday. Brent crude futures settled at $89.42 per barrel, while US West Texas Intermediate crude futures saw a marginal increase of two cents to $85.25. The …

The board members of the Reserve Bank of New Zealand (RBNZ) opted to keep the Official Cash Rate (OCR) at 5.50% on Wednesday after the end of the April policy meeting. The choice was consistent with what the market anticipated. The New Zealand Dollar catches a fresh momentum in an …