Forex Market

European stocks fell on Friday, heading for a weekly loss, after major central banks pledged to raise interest rates further to counter inflation, raising concerns about a global economic slowdown next year. The European Stoxx 600 index fell 0.2 percent to a new low, the lowest in a month, at …

Gold prices rose slightly on Friday as the dollar fell, but the yellow metal, which does not yield a return, is now on its way to record a weekly loss, with the Federal Reserve expecting interest rate hikes to continue for a longer period. Spot gold rose 0.2 percent to …

The US dollar is reaping the fruit of the hawkish stance adopted by the Fed Chair Jerome Powell, reacting late to the US Fed’s decision.The dollar soared to fresh weekly highs against most major rival currencies, ending the day with substantial gains amid a risk-averse environment. The dollar rallied since …

The global economy seems to be at a remarkable inflection point. Tightening monetary policies amid high inflation could slow down global economic growth in 2023. This background is typically positive for gold and this the say of history. Gold Price is under pressure, so, it is taking on a critical …

Crude prices edged lower on accelerating fears linked to global recession risks after another wave of central banks’ decisions regarding quantitative tightening. This is why oil’s latest rally faded as risk aversion grows wilder.The stronger US dollar makes oil more expensive for those using other currencies. Oil prices slid about …

The Pound Sterling is losing ground against the US dollar even after the BoE lifted rates by 0.50%, a hike that is generally looked upon as dovish. US Retail Sales data for November is disappointing though it indicated the effects of the Fed’s policy.The GBP/USD pair’s decline towards the confluence …

US retail sales fell more than expected in November, but consumer spending is still supported by a tight labour market, with the number of Americans filing for unemployment benefits decreasing by the most in five months last week. The biggest decrease in retail sales in 11 months reported by the …

As expected, the BoE raised interest rate by 50 bps to 3.50%. The BoE is seen as having provided no sufficient support for GBP to climb according to some economists.As broadly expected, the BoE hiked 50 bps to 3.50% and signaled that more hikes are likely. The vote was biased …

Following its December policy meeting, the Bank of England (BoE) announced that it raised the policy rate by 50 basis points (bps) to 3.5% as expected. The vote was 6-3 in favor of the rate decision. Two members, Tenreyro and Dhingra, voted to keep rates at 3% while Mann voted …

Gold prices fell by nearly 1% Thursday, December 15th, after Jerome Powell, Chairman of the Federal Reserve, said that next year will witness more interest rate hikes. Gold in spot transactions fell 0.9% to $1791.23 an ounce, further retreating from the peak of more than 5 months that it recorded …