Forex Market

On Friday, the dollar headed for the most extended period of weekly losses in nearly three years as traders reinforced expectations that the Federal Reserve is about to end the cycle of raising interest rates after indications that inflation may subside. Thursday’s data showed US wholesale prices, which are measured …

Market Drivers – US Session 14/04/2023 Markets are digesting mixed signals amid a state of renewed uncertainty. Not even officials of major central banks know what to do or what they will have on their agendas next. After crucial economic data from the US, what is clear is that the …

Another significant movement is finishing the week with the price of gold. Gold lost all weekly gains on Friday, sliding $40 for the day after reaching a 13-month high on Thursday. On a macro level, hawkish comments made by Fed officials and good economic news are having an impact on …

The USD/CAD pair is on its way to closing below 1.3400 for the lowest weekly close since February. The Canadian Dollar has some room to rise in the near future, according to MUFG Bank analysts. Analysts have been relatively skeptical about the prospects for CAD, and overall for the year, …

Less bad news than true positive news is being reflected in the strength of the British pound. Analysts note that the Bank of England will be heavily reliant on UK data (including employment and inflation) the following week. Although the pound has done well this year, recent data may have …

The US Dollar strengthens on Friday after US data and remarks by some Fed officials. The EUR/USD pair drops 80 pips from top, but holds firm to weekly gains. The EUR/USD is losing ground on Friday as the US Dollar recovers a part of recent losses. The pair reached a …

Consumer sentiment in the US improved modestly in early April with the University of Michigan’s (UoM) Consumer Confidence Index rising to 63.5 (preliminary) from 62 in February. This reading came in better than the market expectation of 62. Consumer Confidence Index in the US rose slightly in April. The US …

According to figures released on Friday, US retail sales in March decreased more than was predicted. Analysts claim that the amount of spending is still high, proving that consumers’ underlying resilience has not changed.After an extremely good start to the year, retail sales are declining once more. The amount of …

European stocks rose on Friday, on the verge of recording weekly gains for the fourth week in a row, supported by hopes that the Federal Reserve (the US central bank) will soon stop raising interest rates after recording lower-than-expected inflation in March. The pan-European STOXX 600 was up 0.3% by …

Oil prices fell on Friday after the International Energy Agency warned that production cuts announced by OPEC+ producing countries could widen the oil supply deficit and harm consumers. And by 0820 GMT, Brent crude futures fell ten cents, or 0.12 percent, to $ 85.99 a barrel. West Texas Intermediate crude …