Forex Market

The US economy is expanding rapidly, yet inflation is still there. In the meantime, the Federal Reserve conveys, via Chair Jerome Powell, conflicting messages: while the US central bank supports market-led tightening through higher rates, it is not a big fan of immediate rate cuts. Economic DataOn the data front; …

The Federal Reserve Chair Jerome Powell stated on Tuesday that the US central bank is unlikely to lower interest rates at its next policy meeting, which is just two weeks away, due to the US economy’s continued strength and a “lack of progress” on inflation. Powell stated during a moderated …

Tuesday is a big earnings day, with results from Bank of America and Morgan Stanley. Investors will also be watching for clues regarding the possibility of rate cuts in remarks that Federal Reserve Chair Jerome Powell is expected to make. Bond yields were little higher on Tuesday, and equities fluctuated …

As the latest major lender to suffer the pinch of higher for longer interest rates, Bank of America reported an 18% decline in first-quarter profit. With the exception of a one-time charge, the results exceeded expectations, mostly due to the bank’s Wall Street and wealth-management units demonstrating good performance. The …

USD/JPY has gained following the stronger than expected US retail data and neutral to hawkish comments by US Federal Reserve officials. The Dollar trades at 154.61, 0.22% above its opening price. US housing indicators, such as Building Permits and Housing Starts, have underperformed, suggesting a construction sector slowdown. However, US …

European stock indices dipped to their lowest levels in nearly six weeks on Tuesday as traders veered away from high-risk assets amidst escalating geopolitical tensions in the Middle East. Meanwhile, Ericsson shares soared to the pinnacle of the main index following encouraging business results. As of 0718 GMT, the European …

British core wage growth decelerated once again, marking its slowest increase since the three months leading up to September 2022, yet it maintained strength relative to historical norms, as per official data likely to receive a cautious nod from the Bank of England. Official figures from the Office for National …

The dollar surged to a five-month peak against major currencies on Tuesday, driven by stronger-than-anticipated U.S. retail sales figures, igniting concerns over potential intervention from Tokyo as the yen dwindled to its lowest level since 1990. Despite China’s first-quarter GDP data surpassing expectations, the Chinese yuan slightly declined, reflecting ongoing …

Oil prices experienced a rise on Tuesday, buoyed by stronger-than-expected economic growth in China and escalating tensions in the Middle East following Iran’s recent missile and drone attack on Israel. Brent futures for June delivery advanced by 20 cents, or 0.2%, reaching $90.30 a barrel, while U.S. crude futures for …

Asian stocks experienced significant declines on Tuesday, mirroring the sell-off on Wall Street amid ongoing concerns about geopolitical tensions in the Middle East and the prospect of prolonged higher interest rates in the United States. Despite the general downturn, Chinese equities fared relatively better following the release of GDP data …