Forex Market

The US Dollar has risen to its highest level since July 7 above 102.50, following to the US government’s credit rating downgrade by Fitch. The USD Index held above 102.50 despite the pullback in the American session and advanced to a 25-day-high above 102.50 on Wednesday. US private sector employment …

The Euro is experiencing losses against the US dollar as the European session draws to a close. The EUR/USD pair slides back to the 1.0919 zone, at the time of writing, as the American currency advances further. The USD Index maintains a positive mood past 102.76. Spanish unemployment shrank by …

Russian President Vladimir Putin told his Turkish counterpart Recep Tayyip Erdogan on Wednesday that Moscow is ready to return to the deal to export grain across the Black Sea once the West fulfills its obligations regarding Russia’s grain exports. The Kremlin said in a statement that Putin, in a call …

The Bank of England, which is expected to increase interest rates once again on Thursday, must balance the need to combat an inflation rate that is already running at more than four times its objective against the harm that 13 consecutive rate increases have already done to the economy. Most …

European stocks fell on Wednesday to their lowest levels in nearly two weeks, with technology and auto stocks leading the losses, as investors globally fled from risky assets after Fitch Ratings suddenly downgraded the credit rating of the United States. The pan-European Stoxx 600 index fell 1.1% by 0708 GMT, …

Gold prices rose on Wednesday after the decline in the dollar and US Treasury bond yields following Fitch’s decision to downgrade the credit rating of the United States, which undermined confidence in the US economy ahead of the release of important data expected this week. The spot gold price rose …

The dollar fell on Wednesday after Fitch’s decision to downgrade the credit rating of the United States raised questions about the country’s fiscal outlook, but got some support from a series of relatively strong economic data. On Tuesday, Fitch lowered the US rating to AA+ from AAA, in a move …

The USD/JPY pair advances for a third day in a row, gaining 0.70% and moving up towards the 143.53 region, as at the time of writing. Although it accelerated in July, the ISM Manufacturing PMI fell short of expectations. Additionally, JOLTs statistics fall short of predictions.Prior to important labour market …

The Australian dollar experienced a significant decline on Tuesday due to the Reserve Bank of Australia’s decision to keep its key interest rate unchanged at 4.10% at its August meeting. This decision was surprising as higher interest rates tend to strengthen a currency by attracting more foreign capital. The release …

The World Gold Council said that global demand for the precious metal, excluding stock exchange trading, fell 2% on an annual basis to 920.7 tons in the second quarter of 2023, with slowing central bank purchases and continued weak consumption of the technology sector. However, he added in his quarterly …