Forex Market

The Organization of the Petroleum Exporting Countries (OPEC) on Thursday maintained its forecast for relatively strong growth in global oil demand in 2023 and 2024, citing signs of a resilient global economy so far this year and forecasting increased demand in China. The organization stated in a monthly report that …

European stocks hit a three-week high on Thursday, supported by a new round of decline in government bond yields and investor relief due to dovish comments from Federal Reserve officials. The European STOXX 600 index rose 0.6 percent by 0711 GMT, with the mining and car manufacturing sectors leading the …

There was little change in the dollar, but it hovered near the lowest level in two weeks on Thursday, after the minutes of the last meeting of the Federal Reserve revealed that policymakers are taking a cautious stance, at a time when investors are awaiting key data on inflation in …

Gold broke above $1,860 and jumped to $1,875, boosted by lower yields and the weaker dollar. Silver joined the rally, climbing above $22.00.The US Dollar finished flat despite higher-than-expected US wholesale inflation and the release of the FOMC minutes. The Greenback remains weak as US yields continue to pull back. …

Markets are eagerly awaiting September’s Consumer Price Index (CPI) report, with the Bureau of Labor Statistics set to release the report on Thursday. The unexpected rise in September’s Producer Price Index (PPI) has heightened anticipation for the upcoming Consumer Inflation Index, especially with the Federal Open Market Committee (FOMC) meeting …

A number of European Central Bank (ECB) officials’ neutral stance caused the Euro to suffer only minor losses against the US Dollar, although data from the US raised worries that the US Federal Reserve (Fed) might raise rates in response to an inflation report. Trading at 1.0598, the EUR/USD is …

Gold’s minor gain on Wednesday has the pair pushing back to the 50% retracement region of the last top-to-bottom swing on the daily candles, and spot Gold bids are set for a challenge of the 50-day Simple Moving Average (SMA) near the $1,900 handle.Gold remains notably down from the year’s …

The FOMC minutes, released a few minutes ago, indicated that many policymakers and participants saw downside risks to economic activity and upside risks to the unemployment rate.Vast majority of participants just future path of economy as highly uncertain. More evidence needed to be confident price pressures ebbing. Several participants commented …

The US dollar is still having trouble gaining traction. In September, US PPI increased by 2.2% YoY, exceeding expectations. Later in the afternoon, the FOMC will make public its minutes from its meeting in September.Despite the tension between Israel and Hamas, markets are still wary. Following the publication of trending …

USD/JPY gained 0.20% on the day, rising above 149.00. The US PPI from September accelerated, beating expectations. The trajectory of the pair is determined by the dovish stance of the Bank of Japan (BoJ). Later in the session, markets will monitor the Federal Open Market Committee (FOMC) minutes from the …