Forex Market

The U.S. hit the debt ceiling The U.S. Debt Ceiling is an essential fiscal tool that has been around for a while; however, it has recently become a source of much debate and discussion.  The debt ceiling is the legal limit to which the U.S. government can borrow money from …

Gold prices rose on Tuesday amid a weaker dollar, and it is likely that the precious metal’s near-term prices will remain dependent on US economic data expected to be published this week and may affect the Federal Reserve’s interest rate strategy. Spot gold rose 0.2 percent to $1,935.04 an ounce …

The US dollar index bottomed around the 102 mark, hovering close to levels not seen since May 2022, as concerns about a US recession and prospects of a less aggressive Federal Reserve spooked investors away from the American currency.Widespread volatility dominated the first trading day of the week across both …

The USD/CAD pair exchanges hands between 1.3342-1.3417, ahead of the BoC’s monetary policy decision. Analysts expect the BoC to raise rates by 25 bps and to pause. It is worth mentioning that The BoC would release monetary policy minutes for the first time in its history.The USD/CAD climbs toward the …

The European Central Bank will keep raising interest rates quickly to get inflation under control as it remains far too high according to ECB President Christine Lagarde.On Monday, Lagarde was largely repeating the bank’s most recent policy guidance. EUR/USD has found support on the European Central Bank officials’ comments this …

The overall market sentiment on Monday is positive and rising US Treasury bond yields are boosting the US Dollar, driving the Gold Index, XAU/USD, downwards.Gold price has retreated from around the daily $1935.51 highs and dropped below $1915 as US Treasury bond yields recover some ground and underpin the dollar, …

European stocks rose on Monday, supported by technology and real estate companies, as expectations that the euro zone will witness a slight recession erased the impact of the hawkish statements of European Central officials that pushed the euro to its highest level in nine months. The pan-European Stoxx 600 index …

New Zealand’s prime minister, Jacinda Ardern, has said she is resigning, in an unexpected announcement that came as she confirmed a national election for October. At the party’s first caucus meeting of the year on Thursday, Ardern said she “no longer had enough in the tank” to do the job. …

Ahead of the weekend, the Japanese Yen weakened following the BoJ’s monetary policy meeting, with the BoJ resolute in keeping its dovish stance, and the Yield Curve Control (YCC). On the other hand, the Euro sharply rallies on Friday.The EUR/JPY pair managed to bounce off the day’s lows at 139.03 …

The EUR/JPY pair managed to bounce off the day’s lows at 139.03 and hit a daily high of 141.19 before losing momentum. The pair has reclaimed and achieved a daily close above the 200-day EMA keeps bulls hopeful of higher prices.Ahead of the weekend, the Japanese Yen weakened following the …