Forex Market

Three monetary policymakers contributed their remarks and statements about the labour market, inflation and interest rate policy in the United States ahead of the PCE data that is expected on Friday.Federal Reserve Bank of Atlanta President Raphael Bostic noted on Thursday during an interview with Fox Business that the Atlanta …

Gold is 0.26% up, trading at 2,343.18 per ounce at the time of writing. The precious metal‘s price has recovered after the US dollar weakens following the release of revised Q1 GDP data. The revised data suggests the US economy is not as strong as analysts had previously thought, potentially …

The personal consumption expenditures price index reading in the United States rose by 3.3% in the first quarter of 2024, versus a slightly larger rise of 3.4%, previous.The personal consumption expenditures index excluding food and energy prices in the United States recorded an increase of 3.6% in the first quarter …

European stock markets found some stability on Thursday as bond markets recovered from the previous day’s sell-off, which was driven by expectations of prolonged higher interest rates due to persistent inflation. The pan-European STOXX 600 index edged up nearly 0.2%, following a decline of over 1% on Wednesday. Germany’s DAX, …

The U.S. dollar maintained its strength on Thursday, following a recent surge to a two-week high fueled by a rout in U.S. Treasuries, which pushed up yields and increased the currency’s attractiveness. The dollar index, which tracks the greenback against a basket of major currencies, reached 105.18 overnight, its highest …

European stock markets experienced a broad decline on Thursday, driven by rising global bond yields, which heightened investor concerns ahead of the eagerly anticipated inflation data release at the end of the week. Early in the trading session, Germany’s DAX index fell 0.3%, the UK’s FTSE 100 dropped 0.2%, while …

Amid multi-week highs in US yields, the USD Index (DXY) increased further and broke above the crucial 105.00 barrier. A further update to the Q1 GDP Growth Rate is scheduled for May 30, with weekly Initial Jobless Claims, Goods Trade Balance, and Pending Home Sales serving as backups. Bostic, Williams, …

The dollar rose today, boosted by higher US bond yields ahead of key inflation data later in the week and strengthened against the Japanese yen. The dollar reached as high as 157.715 yen, edging closer to levels that led to bouts of likely intervention from Tokyo at the end of …

The US Dollar has experienced a sharp recovery following the Beige Book report, which showed slight growth in national economic activity. The report also revealed that employment rose slightly, wage growth was moderate, and prices increased modestly as consumers resisted further price hikes. According to Fed’s Beige Book, housing demand …

The GBP/USD pair tumbles to new three-day low as ‘evening star’ chart pattern emerges. Buyers’ momentum begins to fade as RSI aims toward the 50-midline. If the pair drops below 1.2700, look for further losses; otherwise, bulls can challenge 1.2800.The British Pound fell to a new weekly low against the …