Japan’s Nikkei index experienced a decline as profit-taking persisted from the previous session, with traders interpreting the Bank of Japan’s recent meeting as an indication of a continued monetary easing policy. The Nikkei index dropped by 0.8% to 36,226 points, extending the decline from its recent peak of 36,984 points, …
Read More »Bank of Canada to keep rates on hold
Market analysts anticipate that the Bank of Canada will maintain its key overnight rate during its upcoming meeting on Wednesday. Despite this expectation, persistent inflationary pressures have prompted markets to revise their projections for the timing of the next interest rate cut, postponing the possibility of a reduction for the …
Read More »Market Drivers – US Session, Jan. 23
The US dollar’s additional strength in combination with higher yields across the curve and the intense risk aversion pushed the DXY Index to new yearly highs well north of 103.00. Next on tap in the US docket will be the preliminary Manufacturing and Services PMIs for the month of January.It …
Read More »GBP/USD impacted by stronger US Dollar, higher T-yields
In the middle of the North American session, the Pound Sterling was negatively impacted by the strong US Dollar and high US Treasury bond yields, which supported the US dollar. The GBP/USD pair declined by more than 0.40%.As corporations release their fourth-quarter earnings from the previous year, US markets are …
Read More »US Dollar advances on rising US yields ahead of key data
The US Dollar is having an uptrend, with the index currently trading up to the 103.70 level. This comes in anticipation of upcoming key inflation data and the impact of rising yield as markets reduced their dovish bets on the Fed. The US economy is thriving as traders await key …
Read More »European stocks retreat ahead of ECB rate decision
European stocks fall as limited dip-buying coincides with a risk rally. Europe PMIs on Wednesday, ECB due on Thursday. PMIs for the euro area are predicted to grow slightly.Tuesday saw a first leg up for European market indices, which reached near-term highs before reversing course and testing the low end …
Read More »EUR/USD declines ahead of ECB’s decision
At the time of writing, the EUR/USD pair is down 0.45% in the North American session, to 1.0833, after rising to 1.0915, helped by the Fed’s policy outlook. The Eurozone’s decline in confidence and the ECB’s tighter credit policy impact the euro against the greenback.Future US GDP estimates and ECB …
Read More »European stocks open flat, healthcare losses erase impact of mining gains
European stocks started trading on Tuesday with a relatively stable performance. Mining stocks experienced gains, partially offset by losses in healthcare stocks. Investors are anticipating the European Central Bank’s upcoming monetary policy meeting. As of 0822 GMT, the European STOXX 600 index settled at 472.66 points. Industrial and precious metals …
Read More »Gold shines as dollar declines amid anticipation of central bank decisions
Gold prices saw an increase on Tuesday as the US dollar weakened, with investors anticipating interest rate decisions from various central banks and key economic data from the United States later in the week. In spot transactions, gold rose by 0.5 percent to $2,030.64 per ounce by 0545 GMT, and …
Read More »Yen fell as the Bank of Japan maintained an easy monetary policy
The yen experienced a decline on Tuesday following the Bank of Japan’s decision to maintain its ultra-loose monetary policy at the conclusion of its two-day meeting, aligning with market expectations. The Japanese currency initially dropped by approximately 0.3 percent, reacting to the central bank’s decision to keep the short-term interest …
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