Forex Market

Some economists have revised down their EUR/USD forecast. Accordingly, the pair is expected to slump towards the 0.95 mark.It is not clear if the ECB can support the EUR with rates hikes. The EUR is not fully priced for the headwinds facing the Eurozone economy.There are no guarantees currently that …

Nonfarm Payrolls in the US rose by 261,000 in October, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in much higher than the market expectation of 200,000. Additionally, September’s reading got revised higher to 315,000 from 263,000. The Unemployment Rate edged higher …

European shares opened higher on Friday, with luxury goods and mining companies leading the upward trend amid hopes that China will soon ease its strict restrictions related to the fight against the Coronavirus. The Stoxx 600 index rose 0.7% by 0813 GMT, supported by a 3.2% jump in mining stocks, …

The markets focused on the Bank of England on Thursday. BoE hiked its benchmark rate by 75 bps as expected. However, policymakers downwardly revised the growth forecast, anticipating the recession will continue into the future. The EURUSD pair hovers around 0.9750 after falling to 0.9729. Commodity-linked currencies extended their slides …

The US dollar is firmer and was able to record gains against major currencies on Thursday after Fed Chair Jerome Powell signaled US interest rates will likely peak at a higher level than markets expected, while sterling fell after the Bank of England raised rates but warned of a “very …

Nonfarm Payrolls in the US are forecast to increase by 200,000 in October. Gold is likely to react slightly stronger to a disappointing jobs report than an upbeat one. Gold price action has no historical apparent connection with NFP deviation four hours after the data release.The US Dollar Index looks …

Gold price has become at the mercy of Federal Reserve’s tightening as the US Dollar extended its gains. The US ISM Services index remained at expansionary territory, but it’s decelerating. Gold price falls after the hawkish remarks by Fed’s Jerome Powell, who said that the “ultimate level of rates would …

On Friday, the US official employment report will be released. Analysts expect an increase in payrolls of 220K, slightly above the market consensus of 200K. They see the dollar trading in the direction of the data. Payrolls are expected to have continued to lose steam in October, reflecting modest deceleration …

Economists at Wells Fargo now forecast slightly less tightening from the Bank of England than previously. Subsequently, the GBPUSD pair is set to plunge toward 1.06 by the end of the first quarter of 2023. They also expect Policy rate to peak at 3.75%“We expect a 50 bps rate increase …

Following its November policy meeting, the Bank of England (BoE) announced that it raised the policy rate by 75 basis points (bps) to 3%. Policymakers voted 7-2 in favour of this decision. One policymaker voted for a 25 bps hike and one voted for a 50 bps. Bank of England (BoE) …