Forex Market

Gold prices remained relatively stable on Wednesday as traders awaited statements from US Federal Reserve officials, which could shed light on the trajectory of interest rates for the year ahead. Spot Market Performance There was minimal movement in spot gold prices, which hovered around $2,033.02 per ounce as of 1030 …

Flat Opening European stocks kicked off Wednesday’s trading session with little change, as declines in Deutsche Post offset gains made by companies reporting positive earnings data. The STOXX 600 index hovered around 486.57 points by 0826 GMT. Upbeat Earnings from TeamViewer TeamViewer shares surged by 10.9 percent, claiming the top …

German Industrial Production Contracts, Exceeding Expectations December Figures Disappoint Data released by the German Statistics Office (Destat) on Wednesday revealed a sharper-than-expected contraction in industrial production for the month of December, marking the eighth consecutive decline for the largest economy in the euro zone. Monthly Contraction Germany witnessed a notable …

Easing Off Recent Highs The dollar took a step back on Wednesday, relinquishing some of its recent gains against the euro, as US bond yields softened, adding pressure on the greenback. Technical Corrections The reversal in the dollar’s trajectory was largely attributed to technical factors, following a two-day surge against …

Gold prices found stability on Wednesday as traders eagerly anticipated insights from numerous Federal Reserve officials scheduled to speak this week, seeking clarity on the potential timeline for interest rate adjustments. Spot Gold Holds Steady In the early hours of trading, the price of gold in spot transactions held firm …

The US dollar’s correction caused the USD Index (DXY) to retreat from its previous annual highs, which were located at 104.60, in the face of similarly low US yields. On February 7, a number of Fed speakers, including Kugler, Collins, Barkin, and Bowman, will be speaking along with the Balance …

Following a decline in the US dollar and Treasury yields, gold saw a rise on Tuesday as traders braced themselves for statements from multiple Federal Reserve officials this week, which would likely provide insight into the rate of interest rate reductions this year.Gold Firmer on softer US Dollar As of …

The EUR/USD is trading near previous lows as Euro bidders seek a foothold. European numbers came in better than predicted, but they still show a sluggish home European economy. The pair has little momentum as both the US dollar and the Euro fall. At the time of writing, the pair …

The US crude oil benchmark, WTI, rose 0.87% to $73.51, driven by a weaker US Dollar and lower oil output forecasts. The Fed’s cautious interest rate outlook, with Loretta Mester highlighting a data-driven approach, has influenced market sentiment. The US Energy Department’s report lowering oil output and the Fed’s cautious …

The eurozone economy has weakened throughout 2023, with the Composite Purchasing Managers’ Index dropping below 50 in June, signifying a moderate contraction. This weakness stemmed from Europe’s recovery from an energy shock, as well as a lack of fiscal support in comparison to the more resilient US economy. Interest rate …