Forex Market

The EUR/USD pair experienced a setback on Friday, losing ground amidst renewed resistance at the 20-day Simple Moving Average (SMA). While the pair managed to avoid a significant sell-off, attempts to break decisively above this key technical level were met with resistance, suggesting a lack of strong bullish momentum.   …

The U.S. dollar steadied on Friday but was set to break its six-week winning streak as investors reassessed the Federal Reserve’s monetary policy path and looked ahead to the inauguration of President-elect Donald Trump next week. Dollar Dips on Fed Rate Cut Expectations The dollar index, which measures the greenback …

China’s economy delivered stronger-than-expected growth in the fourth quarter of 2024, as a series of robust stimulus measures from Beijing began to yield results. Gross domestic product (GDP) expanded by 5.4% year-on-year in the three months ending December, surpassing market expectations of 5% and sharply accelerating from 4.6% growth in …

European shares advanced on Friday, bolstered by broad-based gains across sectors as government bond yields continued to decline. The pan-European STOXX 600 rose 0.4% by 0815 GMT, positioning the index for a fourth consecutive weekly gain, with a weekly jump exceeding 1.5%. Key Sector Performances The construction and materials sector …

The Canadian Dollar weakened against the US Dollar on Thursday, extending its recent consolidation phase. A lack of significant economic data releases from Canada left the Loonie vulnerable to market shifts.USD/CAD traded near multi-year highs, hovering around the 1.4400 level. While US Retail Sales and Initial Jobless Claims showed some …

Gold prices surged above the $2,700 mark on Thursday and is trading even above this level, at $2,714 at the timee of writing. This bold price action is certainly fueled by a weaker US Dollar and declining US Treasury yields. This rally comes amidst mixed economic data from the United …

The Euro has capitalized on the US Dollar’s decline, which fell below the 109.00 mark on the US Dollar Index, a measure of the greenback’s performance against a basket of six major currencies. This occurred despite the outcome of the European Central Bank’s December meeting.The Euro/Dollar pair rose to 1.0301, …

Could Los Angeles fires impact the US economy or push inflation higher? The recent devastating wildfires in Los Angeles have ignited concerns beyond the immediate human and environmental toll. Economists warn that these infernos will not only scorch the land but also fan the flames of inflation, further complicating the …

U.S. retail sales demonstrated continued strength in December, driven by robust consumer demand for motor vehicles and a broad range of other goods. This positive data, coupled with a strong labor market, reinforces the Federal Reserve’s cautious approach to interest rate cuts.The Commerce Department reported a 0.4% increase in retail …

The U.S. dollar held its ground on Thursday, even as U.S. bond yields fell sharply following better-than-expected inflation data. Market participants have now turned their focus to next week’s inauguration of President-elect Donald Trump and the anticipated inflationary effects of his economic policies. The U.S. Dollar Index, which measures the …