Forex Market

Most Asian currencies changed little on Tuesday as markets braced for the Federal Reserve’s widely anticipated interest rate rise this week, but the Australian dollar jumped on an unexpected rate hike by the Reserve Bank. The Australian currency rose 1% when the Reserve Bank of Australia raised its cash target …

The Reserve Bank of Australia unexpectedly hiked interest rates on Tuesday and said that more monetary policy tightening may still be in order as the bank moves to curb stubborn inflation in the country. The RBA hiked its cash target rate by 25 basis points to 3.85%, ducking market expectations …

Financial assets went through quite, but volatile, trading conditions on Monday, despite most major countries celebrating Labour Day, keeping local markets closed to observe the occasion.Oil prices were down sharply on Monday after the latest manufacturing data showed that the sector contracted for the 5th straight month in April, ending …

Despite concerns about the stability of the US banking sector, Bitcoin bulls are unable to gain traction as BTC prices are close to four-day lows. Bitcoin is trading at $27822 at the time of typing. As the US dollar strengthens ahead of the FOMC, the $28K support level for bitcoin …

“De-dollarization isn’t on top of my worry list,” International Monetary Fund’s (IMF) Managing Director Kristalina Georgieva said on Monday and added that the doesn’t see an alternative to the US Dollar any time soon.“There may be more vulnerabilities exposed in the banking sector,” Georgieva warned and further noted that they …

Gold price dropped below $2000 on a report by the Institute for Supply Management (ISM), showing that manufacturing activity in the US improved. However, prices jumped compared to last month’s data, sparking speculation that the Federal Reserve (Fed) will tighten monetary conditions next Wednesday. The precious metal is trading between …

The ISM Manufacturing PMI increased to 47.1 from 46.3 in April as the economic activity in the US manufacturing sector continued to decrease, albeit at a slower rate than it did in March. This result was little higher than the 46.6 market forecast.According to further information in the report, the …

In April, the S&P Global Manufacturing PMI for Canada rose above 50. USD/CAD remains within the daily range at roughly 1.3550.The S&P Global Manufacturing PMI increased to 50.2 from 48.6 in March, reflecting a modest increase in business activity in the Canadian manufacturing sector. This figure was lower than the …

Inflation expectations in the United Kingdom fell in April, according to Citi, providing some respite to the Bank of England, which is anticipated to announce its 12th consecutive interest rate hike next week, with investors banking on additional hikes after that. Citi said its monthly poll, conducted by market research …

The US dollar rose in early holiday-affected European trade Monday, kicking off a week that features policy-setting meetings from the Federal Reserve and the European Central Bank, as well as the monthly US employment report. The dollar index, which measures the value of the US currency against a basket of …