Forex Market

Gold price has increased by 0.14% due to thin trading conditions during Thanksgiving, with the price currently trading at $1992, gaining 0.14% after hitting a daily low of $1989.56. The gold price benefits from declining US Treasury yields and USD weakness, trading near the $2000 mark. European equities closed in …

Oil prices fell by about one percent on Wednesday in a volatile session, with the OPEC+ alliance suddenly postponed a meeting to determine production policy that was scheduled to be held next Sunday, raising questions about the future path of crude production cuts. Brent crude futures fell 49 cents to …

US Data on Wednesday came in mixed, including Durable Goods Orders that fell 5.4% in October, exceeding the expected 3.1% decline. On the positive side, the University of Michigan Consumer Sentiment Index stood at 61.3 in November, revised up from the preliminary reading of 60.3. Initial Jobless Claims that retreated …

The European Central Bank has warned about rising loan default cases and late payments as signs of stress in the eurozone’s banks. The bank is facing higher funding costs, declining asset quality, and fewer lending volumes, despite increased interest rates boosting revenue and profits. The ECB also warns that slower …

Spot Gold is bidding lower, testing back beneath the $2,000 key handle. The Gold Index (XAU/USD) is trimming back some gains as investors weigh their options post-US data.Gold remains well-bid, but $2,000 is proving to be a challenging level. XAU/USD tipped back into a daily high above the $2,000 mark, …

Interest rates in the Eurozone are close to their peak according to Wednesday’s statements by Bundesbank President Joachim Nagel who also explained that economic data will determine whether more tightening is needed. As for inflation, Nigel mentioned it is on track to move towards the ECB target while speaking at …

The Canadian dollar has hit a new weekly low due to deteriorating market sentiment and falling crude oil prices. The US data has reduced risk appetite and deflated crude oil bids, leading more markets to turn back towards the US dollar. Fresh weekly lows are expected since crude oil markets …

The US dollar is trading in the green territory against major G20 peers, with traders expecting a quick return to normal rate policy. The latest FOMC Minutes revealed that cuts are not in the plan for the upcoming meetings, which dampens market bets that cuts might be very close, even …

Recent developments, such as the Middle Eastern ceasefire and a notable increase in US stockpiles, are causing oil prices to decline. Following the release of the latest FOMC Minutes, which showed that all Fed’s policymakers decided not to change rates anytime soon, the US dollar has been strengthening as markets …

European stocks rose to a two-month high on Wednesday, led by media and real estate stocks, and Sage Software jumped to a record high after announcing strong annual operating profits. The European STOXX 600 index rose 0.2 percent by 0807 GMT, after largely quiet trading so far this week. Real …