Forex Market

Gold prices decline, hindered by rising US bond yields and the greenback’s resilience; XAU/USD is down 0.50%. Gloomy global economic outlook impacts sentiment, with disappointing export data from China and broadened US trade deficit.The US dollar gains momentum as the US Dollar Index (DXY) pares earlier losses, adding pressure on …

The EUR/USD pair buoyed by hawkish ECB commentary bounces off 200-day EMA as Fed June rate hike expectations fade. The US trade deficit widens significantly to $-74.6B, driven by a decline in exports and a rise in imports. Rate hikes by BoC and RBA influence US Treasury bond yields, signaling …

The Bank of Canada (BoC) is scheduled to publish its Interest Rate Decision on Wednesday, June 7 at 14:00 GMT, and as the day approaches, here are the forecasts of four major banks’ economists and academics on the impending announcement. The Bank of Canada is likely to hold interest rates …

The Turkish lira plunged 7 percent on Wednesday to a new record high amid the biggest sell-off in the currency since its historic collapse in 2021, as the new Turkish government appeared to ease stabilization measures after hinting at a shift to more traditional policies. The lira has been under …

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 …