Forex Market

The dollar hovered near a 15-month low on Friday, heading for its biggest weekly decline since November, after weak U.S. inflation data boosted investor bets that the Federal Reserve was close to ending its rate hike path. Data on Thursday revealed that U.S. producer prices barely rose in June, while …

Global benchmark Brent crude hovered above $81 a barrel on Friday as sentiment on US demand rose, supported by supply disruptions in Libya and Nigeria. Brent and US West Texas Intermediate crude futures rose for the third consecutive session and in early Asian trading on Friday and are on track …

European stocks fell on Friday but remain on course for their biggest weekly percentage jump in more than three months, driven by hopes the Federal Reserve will stop raising interest rates soon as inflation subsides. The pan-European Stoxx 600 index was down 0.2 percent by 0702 GMT. However, it rose …

The US Dollar sharply dropped again after the release of more inflation data from the US. The figures offer signals that inflation continues to cool, triggering more gains in Wall Street and Treasury bonds.Economic DataThe US Producer Price Index (PPI), which reached its peak in June 2022 at 11.2%, increased …

According to prepared remarks for delivery at a conference sponsored by The Money Marketeers of New York University, Federal Reserve Governor Christopher Waller has expressed his support for hiking rates at the July FOMC meeting. The decision-maker also demonstrated his reluctance to declare US inflation under control and supported further …

The GBP/USD pair has rallied after the US Producer Price Index (PPI) for June surged below estimates, indicating a steady deceleration of inflation in the largest world economy. The pair is trading at 1.3133 at the time of writing. The UK is seen as hardly missing a recession, but fears …

Gold maintains choppy performance despite US dollar’s losses Given that the market’s expectations for future US interest rate increases have been greatly reduced, the recent decline in gold prices is likely to have come to an end. Even so, we anticipate some additional upside potential for the year’s conclusion. Because …

The US federal budget deficit sharply widened to $227.76 billion in June, up from $88.8 billion in the same month last year. The deficit was $1.39 trillion for the first nine months of the fiscal year, up from $515.1 billion in the same period last year. Government receipts fell from …

In an interview with CNBC on Thursday, San Francisco Federal Reserve President Mary Daly said it was too early to declare victory on inflation, as reported by Reuters.Daly’s comments were not capable of helping the US Dollar find demand. As of writing, the US Dollar Index was down 0.55% on …

A spokesperson for the International Monetary Fund (IMF) said on Thursday that slowing exports and weaker private investment cause China’s growth momentum to slow, per Reuters.There doesn’t appear to be any discernible effect of these remarks on risk mood. As of writing, the S&P 500 Index was up 0.6% on …