Forex Market

Oil prices saw an uptick in early trading on Wednesday, extending gains from the previous session following industry data showing an unexpected decrease in US crude inventories last week. This decline suggested increased demand and shifted attention away from tensions in the Middle East. Brent crude futures edged up by …

In early trading on Wednesday, European stocks showed little change, with gains in the technology sector offsetting losses in the banking sector. Investors were evaluating the impact of monetary tightening on companies’ performance and financial results. The European STOXX 600 index edged up by 0.1 percent by 0720 GMT, hovering …

The dollar showed signs of recovery on Wednesday after facing significant losses against the euro and pound the day before, while the yen remained near its lowest level in 34 years, despite intensified warnings from Japanese officials about potential intervention to support the currency. The dollar index, which gauges the …

Improved risk appetite on Tuesday impacted the US dollar, which is -0.44% down, at the 105.68 mark, while the weaker than expected US PMIs kept the American currency under pressure.The ECB is expected to cut rates in June, while the Fed is still seen reducing its rates in September, with …

Tuesday sees a tug in both directions for crude oil. Recent rate cut hopes are sparked by the US PMIs. Equities that are associated with risk are boosted as markets welcome the slowing US economy that could mean looming interest rate cuts. Tuesday’s start for West Texas Intermediate crude oil …

Tuesday saw a decline in US Treasury yields as investors anticipated news later this week that would provide more details about the status of the economy. The S&P Global Flash U.S. manufacturing PMI dropped from 51.9 in March to 49.9, a four-month low. A reading less than 50 signifies a …

The United States is preparing to impose fresh sanctions on a few Chinese institutions in an effort to stop Beijing from funding and supporting Russia’s war in Ukraine. The proposed sanctions coincide with this week’s scheduled visit to China by US Secretary of State Antony Blinken. Regarding Beijing’s facilitation of …

The Canadian dollar has recovered following softer US Purchasing Managers Index figures, which have boosted market hopes that the US domestic economy will soften enough to prompt the Federal Reserve to consider rate cuts. Canada’s latest Retail Sales figures are due on Wednesday, while the broader market focus will be …

The Pound Sterling rebounds from 1.2300 on robust increase in UK Services preliminary PMI for April. The UK preliminary Services PMI data surprisingly jumped to 54.9 from 53.1Two BoE policymakers are lined up to speak as investors seek clues about the interest-rate outlook. The Pound Sterling (GBP) bounces back from …

On Tuesday, the Japanese yen plummeted to multi-year lows against both the dollar and the euro, prompting heightened vigilance among traders for potential government intervention ahead of the Bank of Japan’s upcoming meeting. Conversely, the British pound saw a decline to its lowest levels in several months following dovish remarks …