Forex Market

The USD/CAD pair is trading at 1.3266 at the time of writing. Canada’s dollar remains cautious ahead of the Bank of Canada’s (BoC) interest rate decision on Wednesday. Core inflation has fallen significantly in Canada, while it remains stubbornly high in the US, making USD/CAD bullish. The technical picture is …

The dollar fell to a two-month low on Tuesday after Federal Reserve officials signaled the tightening cycle was coming to an end, while sterling rose to a 15-month high after more-than-expected wage growth in Britain. Several Federal Reserve officials said on Monday that the bank would likely need to raise …

Turkish President Recep Tayyip Erdogan agreed on Monday to send Sweden’s request to join NATO to parliament, in a move that appears to end months of debate over the issue that has affected the military alliance while the war in Ukraine drags on. Sweden and Finland applied for NATO membership …

Oil prices rose on Tuesday, recouping some of the previous session’s losses, with traders focusing on Saudi Arabia and Russia cutting production and anticipating economic data that may help ascertain the demand for crude. Brent crude futures rose 33 cents, or 0.4 percent, to $78 a barrel by 0050 GMT, …

After a cautious opening due to inflation data from China that suggested weaker demand, Wall Street closed in the green. The Nasdaq increased by 0.18% while the Dow Jones increased by 0.62%. Less than 1% was lost in the price of crude oil, while gold finished level at $1,925 per …

As investors analysed Chinese economic data, a significant US inflation report, and corporate profits on Monday, Wall Street equities increased marginally but oil prices and the currency declined. The S&P 500 increased by 0.24%, the Nasdaq Composite increased by 0.18%, and the Dow Jones Industrial Average increased by 0.62%. The …

As the Bank of England’s hawkish stance became increasingly apparent, the EUR/GBP pair advanced. The US dollar’s decline gave the GBP a lift, and the Euro gave way to the Pound Sterling as long-term stagnation in the Eurozone looked certain.The EUR/GBP pair is now up 0.12% for the day and …

Citibank analysts say commodities have underperformed other asset classes so far this year, but the decline may be coming to an end. The Bloomberg Commodity Index is down 9.3% since the start of the year, while equities, government bonds and corporate bonds are up. The Bloomberg Commodity Index posted a …

Commenting on the Federal Reserve’s policy outlook, “we’re likely to need a couple more rate hikes over the course of this year to really bring inflation sustainably back to the Fed’s 2% goal,” San Francisco Fed President Mary Daly said on Monday.The US Dollar Index stays on the back foot …

Fed Vice Chairman Michael Barr said on Monday that inflation was still too high but acknowledged significant progress had been made. “We are very focused on getting inflation down to target,” Barr said.Barr’s comments do not directly affect the US dollar’s performance against major currencies. At the time of writing, …