Forex Market

The dollar saw a volatile performance on Wednesday as expectations of a Federal Reserve rate hike this month receded, however moves remained range-bound as traders focused on whether an end to monetary tightening was in sight around the world. The Australian dollar recorded the highest level in three weeks, extending …

The dollar posted mixed results on Tuesday in a cautious market ahead of a crucial week. The USD Dollar Index rose 0.15% but was unable to break the 104.40 area again. US Treasury yields held relatively steady. There are no Federal Reserve speakers ahead of next week’s FOMC meeting. Fed …

The AUD/USD pair rallied to the highest since mid-May following the RBA’s policy meeting that unexpectedly raised interest rates. The cash rate was at an 11-year high of 4.1% earlier on the day. At the time of writing, the pair is trading at 0.6672. This development leaves the technical outlook …

The New York Fed data showed that supply chain pressures cooled again in May, further easing what had been one of the key factors that had helped drive surging inflation pressures around the world. The Global Supply Chain Pressure Index stood at -1.71, from the revised -1.35 for April. The …

Gold price is struggling to capitalize on Monday’s recovery gains and trades in a narrow range at around $1,960.25 on Tuesday. The benchmark 10-year US Treasury bond yield holds steady near 3.7% and doesn’t allow XAU/USD to gather bullish momentum. Economists claim that gold price will be influenced by the …

The Turkish lira lost 1 percent of its value against the dollar on Tuesday, continuing the declines it recorded during the last period, amid expectations that the state will end its control over the currency after the appointment of Mehmet Simsek as Minister of Finance. Investors are anticipating a shift …

Eurozone’s Retail Sales came in at 0% MoM in April versus 0.2% expected and -0.4% previous, the latest official figures released by Eurostat showed on Tuesday. On a yearly basis, the bloc’s Retail Sales dropped 2.6% in April versus -3.3% booked in March and -1.8% expected. The Retail Sales released …

The AUD/USD has risen for the fourth day in a row, and it is set to continue its upward trajectory. The Reserve Bank of Australia (RBA) raised interest rates on Tuesday, which lifted the Australian dollar across the board. Gains were restrained throughout the American session owing to risk aversion, …

European stocks opened flat on Tuesday, as fears of major central banks raising interest rates to counter slowing economic growth offset support from defensive healthcare stocks. The European Stoxx 600 index settled at 459.78 points. The index had fallen in the previous session due to data that indicated weak activity …

US economic data depressed the US dollar, erasing Friday’s gains. The positive job statistics from the previous week had helped the dollar gain ground, but on Monday, the data took a turn for the worse and the currency lost ground. The Nasdaq fell 0.09% while the Dow Jones fell 0.59%. …