Forex Market

With the ISM Services PMI falling to 51.2 from 55.1 in February, economic activity in the US services sector grew at a slower rate in March. In comparison to the market forecast of 54.5, this number was weaker. After this news, the US Dollar Index continues within its daily range …

According to figures released on Wednesday by Automatic Data Processing (ADP), private sector employment in the US increased by 145,000 in March. This reading was lower than the 200,000 market forecast. Positively, February’s reading of 242,000 was increased to 261,000. Nela Richardson, chief economist of ADP, commented on the figures, …

European stocks fell on Wednesday as investors became cautious after data indicated a slower-than-expected recovery for the euro-zone economy. The European Stoxx 600 index fell 0.2 percent, with the industrial goods and services sector index declining 1.6 percent, while the utilities sector index rose 1.4 percent. Despite an optimistic start …

Market Drivers – US Session 04/04/2023 While gold has jumped, US treasury yields retreated, the US dollar was seen under pressure on Tuesday. The dollar is still under pressure ahead of more employment statistics, notably the NFP on Friday, as a result of weak US economic data. On Wednesday, the …

As of this writing, the EUR/USD is fluctuating at 1.0954, ahead of the US Employment and ISM Services PMI data. An important drop in US job openings suggests that the US labour market is currently cooling. The recent increase in the price of oil may cause inflation in the Eurozone, …

The policy rate was maintained by the Reserve Bank of Australia at 3.60%. Inflation has reached its high, the labour market is still extremely tight, and additional tightening may be necessary, according to the RBA’s Statement.The Reserve Bank of Australia kept interest rates constant on Tuesday, thus the AUD/USD pair …

In the American session, the USD/CAD pair picked up steam and crossed the 1.3450 level. With dismal US statistics, the US Dollar Index remains stuck in the red far below 102.00. WTI crude fell to around $80 after rising earlier.After Monday’s steep loss, USD/CAD was rather calm on Tuesday during …

The Bank of England Chief Economist Huw Pill said on Tuesday that caution is still needed in assessing inflation prospects on account of the potential persistence of domestically generated inflation, as reported by Reuters.GBP/USD preserves its bullish momentum on Tuesday and was last seen rising 0.75% on the day at …

The Turkish Exporters Association said on Tuesday that the country’s exports to Russia jumped 262 percent year-on-year in March, reflecting the sharp increase in bilateral trade since Russia’s invasion of Ukraine last year prompted Western sanctions against Moscow. Türkiye opposes the war but also opposes Western sanctions. A senior export …

At its April monetary policy meeting, the Reserve Bank of Australia (RBA) board members decided to leave the Official Cash Rate (OCR) unchanged at 3.60% after ten consecutive interest rate hikes so far. Markets had placed around an 85% chance the central bank will stand pat on rates this Tuesday. …