Forex Market

The British pound edged lower against the dollar on Thursday, reflecting market caution as investors awaited clarity on President-elect Donald Trump’s Treasury Secretary pick and the implications for U.S. economic policies. Sterling fell 0.1% to $1.26405, struggling to maintain footing against a firming dollar. Dollar Gains Weigh on SterlingThe dollar’s …

Oil prices edged higher on Thursday as intensifying military exchanges between Russia and Ukraine overshadowed concerns over rising U.S. crude inventories. The geopolitical tensions bolstered market uncertainty, keeping prices elevated despite bearish supply data from the United States. Brent crude futures rose 1.3% to $73.77 per barrel by 10:17 GMT, …

Britain’s public finances faced mounting pressure in October as borrowing levels exceeded expectations, posing a significant challenge for Finance Minister Rachel Reeves. Official data from the Office for National Statistics (ONS) revealed that public sector net borrowing reached £17.4 billion ($22 billion) in October, well above the £12.3 billion forecast …

Gold prices continued their upward trajectory in Asian trade on Thursday, marking a fourth consecutive session of gains as escalating tensions between Russia and Ukraine spurred safe-haven demand. However, the precious metal’s recovery faced headwinds from a robust U.S. dollar and uncertainty surrounding Federal Reserve rate decisions. Spot gold rose …

US Dollar Strengthens as Market Reacts to Trump-Inspired Rally The US Dollar Index (DXY) rebounded on Thursday, November 21, approaching the 107.00 level as yields rose. This surge was fueled by renewed optimism stemming from Trump-related news.Key Economic Data and Fed SpeechesInvestors will be closely watching key economic indicators, including …

The US Dollar Index (DXY) has surged to near 106.70, driven by a combination of factors, primarily the Federal Reserve’s hawkish monetary policy stance and rising US Treasury yields.Fed’s Hawkish ToneFederal Reserve officials have adopted a cautious approach to potential rate cuts, citing persistent inflationary pressures and robust economic data. …

Bank of England Deputy Governor Dave Ramsden expressed confidence in the UK’s inflation trajectory, suggesting that a recent uptick in October’s CPI data is a temporary blip. He believes that inflation will continue to decline, allowing the central bank to maintain its easing monetary policy.Key points from Ramsden’s remarks:Inflation Outlook: …

Federal Reserve Board of Governors member Lisa Cook noted on Wednesday that while she views the overall economic outlook within the US as fairly balanced, the Fed might get forced into a pause on rate cuts if inflation progress slows down while employment remains solid.Key QuotesIf the labour market and …

The GBP/USD pair experienced a sharp decline following the release of hotter-than-expected UK inflation data. This unexpected surge in inflation has heightened expectations of a less accommodative monetary policy stance from the Bank of England.Unless the pair can reclaim the 1.2700 level, the bearish trend is likely to persist. A …

The specter of a Eurozone sovereign debt crisis is once again haunting the continent. A confluence of factors, including elevated debt levels, sluggish growth, and fiscal slippage, has created a perfect storm that threatens to undermine the bloc’s economic stability. The European Central Bank (ECB) has sounded the alarm, highlighting …