Forex Market

The EUR/GBP pair reached a weekly peak at 0.8711, driven by concerns over the UK’s economic stagnation and potential stagflation. UK GDP forecasts suggest a possible contraction in Q3, with expectations of a -0.1% decrease in QoQ, pressuring the Pound.The Bank of England’s mixed signals, with Governor Bailey’s cautious stance …

The US dollar is weakening as Jerome Powell, the chairman of the Federal Reserve, gave a speech devoid of any mention of monetary policy or guidance. Traders are beginning to paint a picture of the US and global economies as the earnings season draws to a close. People’s finances are …

European stocks fell on Wednesday, November 8, with shares of insurance companies and financial institutions taking the biggest hit as investors evaluated economic data and corporate profits. The European STOXX 600 index fell 0.1% by 0815 GMT, reaching its lowest level in almost a week and heading for a decline …

The dollar recovered and rose slightly on Wednesday after a group of Federal Reserve (US central bank) officials left the door open to raising interest rates again, while traders awaited the speech of Bank President Jerome Powell to know the course of the bank’s monetary policy in the future. The …

Japan’s Nikkei index closed lower on Wednesday, giving up the gains it achieved earlier in the session amid a wave of selling value stocks, but gains in growth stocks limited losses. The Nikkei ended trading down 0.33 percent, recording 32,166.48 points, after opening with an increase of 0.75 percent. The …

Metals continued to be pressed. Silver reached a two-week low of $22.43 and is trading dangerously below $22.80. Gold fell to a two-week low of $1956 before retreating from its losses.aDuring the American session, the US dollar weakened due to rising Wall Street stocks and a reverse in Treasury yields. …

Tuesday saw a 1.5% decline in the value of the Australian dollar (AUD/USD), hitting 0.6404 as a result of the Reserve Bank of Australia’s dovish statement and announcement of an anticipated 25 basis point rate hike. The Australian dollar bounced back to start trading on Wednesday at 0.6440.The Reserve Bank …

On Tuesday, the EUR/JPY pair made a significant move towards EU Retail Sales figures, hitting a 15-year high at 161.00. With a 2.8% decrease, Japan’s overall household spending for the year through September fell short of forecasts. With an improvement in the month-over-month figure, the market anticipates more declines in …

The US dollar is partially recovering from Friday’s losses, with US Treasury yields trading sideways around 4.61%. The benchmark 10-year US Treasury yield is at 4.61%, finding calmer ground after the volatile week last week. The US Dollar Index is trying to recover from last week’s drop, but still has …

Haitham Al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said on Tuesday that the organization expects the global economy to grow and fuel demand to increase despite macroeconomic challenges, including high inflation and interest rates. He said at the Argus European Crude Oil Conference on Tuesday that …