Forex Market

The Federal Reserve released the minutes from its May 2-3 meeting, when it raised rates by 25 bps. The minutes showed a division on support for more rate hikes. US Dollar holds onto daily gains after minutes. The FOMC released the minutes of the May 2-3 meeting, triggering a limited …

Prior to the release of the FOMC minutes, the GBP/USD pair is down about 0.28%. The pair has so far fallen from a high of 1.2469 to a low of 1.2357.  The positions of net GBP speculators rocketed higher and have now been positive for five weeks in a row, …

The US Federal Reserve will release the latest monetary policy meeting minutes of the Federal Open Market Committee (FOMC) at 18:00 GMT, sought by traders as they would provide insight into the US central bank’s forward path. On May 2-3, the Fed decided to raise rates by 25 bps, the …

Ahead of FOMC minutes, Fed’s Christopher Waller stated, on Wednesday, that while the US central bank may decide not to raise interest rates at its meeting next month, he is concerned about the lack of progress on inflation and believes that the rate-hiking campaign would likely continue. Waller made the …

US House Speaker Kevin McCarthy announced on Wednesday that they are sending their negotiators to the White House to try and wrap up the debt-limit negotiations. McCarthy continued by pointing out that there were still disagreements on expenditure, but he added that he believed they might advance today. After these …

The dollar hovered near a two-month high on Wednesday as investors flocked to the safe-haven currency as debt ceiling talks in the United States continued to stall. And US Treasury Secretary Janet Yellen warns that the federal government may not have enough money to pay all its obligations by June …

Gold price dips slightly as uncertainty around US debt-ceiling discussions causes US Treasury bond yields to rise, negatively impacting XAU/USD’s recovery. Despite productive talks between President Biden and House Speaker Kevin McCarthy, an agreement on raising the debt ceiling is yet to be reached. US is set to run out …

US new home sales jumped to a 13-month high in April, boosted by a persistent shortage of previously owned houses on the market and a sharp decline in prices from last year’s lofty levels. The Commerce Department report followed on the heels of data showing a surge in permits for …

The Chinese ban’s impact on US Micron will vary depending on how China defines critical information structure. Without Micron products, Chinese companies are likely to turn to South Korean chip makers like Samsung. Micron Technology, the largest US memory chip maker, is assessing its losses following a partial sales ban …

As a result of equities and bonds doing poorly, the US Dollar Index erased the losses it had incurred on Monday. After mixed sector readings for the Purchase Manager’s Index were released, with Services remaining robust and Manufacturing shrinking, the dollar has maintained its gains. The dollar has stabilised and …