Forex Market

After a two-day losing streak, the Australian dollar (AUD/USD) is under pressure, which has dampened the corrective rally from late Monday. Chinese data-related worries, dovish fears about the Reserve Bank of Australia (RBA), and market inflation all contribute to the pair’s poor performance. The Fed’s policy SPECULATIONS and market-wide cautious …

The GBP/USD pair declines by 0.08% as investors flee to shelter in response to poor Chinese GDP statistics; the exchange rate drops below 1.3100. Despite indications of an impending UK recession, expectations of a 50 bps rate increase by the Bank of England in August keep things tense.Investors assess the …

The Canadian dollar is trades in volatile ups and downs against its US counterpart after hitting a technical ceiling and a decline in Oil prices. Oil falls from weaker-than-expected Chinese growth data for Q2 and the reopening of Libya’s largest Oil field. A thick knot of technical support levels just …

Gold is expected to move sideways around $1,950 until the end of 2023 and beyond, according to economists. By the end of the year, there may be some scope for an upward move to $2,000 due to the US central bank’s sharp rate hikes. This could indicate that the American …

The dollar fell on Monday against a basket of currencies after recording the largest weekly decline this year, as dealers await economic data and monetary policy decisions. The euro continued to rise, rising 0.15 percent, to hit a 16-month high of $1.12440. The dollar fell against the yen 0.27 percent …

After the announcement of dismal Chinese GDP figures, European stock markets declined on Monday as the second quarter results season got underway. At 07:30 GMT, the FTSE 100 in the United Kingdom traded down 0.1%, the CAC 40 in France dropped 0.7%, and the DAX index in Germany traded down …

Official data showed on Monday that the average daily consumption of oil refineries in China rose 1.6 percent from the previous month, with refineries resuming operations after completing maintenance in the spring and increasing production to meet the demand for travel in the summer. Data from the National Bureau of …

China’s economy grew in the second quarter of 2023 by 6.3%, against expectations of 7.3%. On a quarterly basis, the Chinese economy grew by 0.8% in the second quarter, slowing down from 2.2% levels, but it came better than expectations that indicated a growth of 0.5%. A spokesman for the …

Oil prices fell for a second session on Monday after Libya resumed production at the weekend, while China, the world’s largest crude importer, is expected to release data showing that the post-pandemic economic recovery is facing bumps. Brent crude futures fell 57 cents, or 0.7 percent, to $79.30 a barrel …

After an intense week across most financial markets, volatility is unlikely to ease soon. Market participants will continue to digest the latest round of US inflation data, particularly the CPI and PPI data, with a special focus on the upcoming FOMC meetings. The Fed enters its blackout period ahead of …