Forex Market

As the US dollar hits one-week high at 1.3780 lower oil prices persist and hawkish Fed hopes are undermining the CAD, the USD/CAD pair is rallying to 1.40 before dropping to 1.32. The US dollar remains dominant across the board, with the market pricing in another aggressive rate hike by …

As US CPI data is eyed, gold prices dropped significantly lower on Monday. Not only did the price take out $1,675, but it has also made a low of $1,665.77, taking on a key support area as the markets remain focused on the hawkish stance of the Fed.Gold dropped from …

Oil prices retreated by 1% on Monday as investors are concerned about economic storm clouds that could foretell a looming global recession and erosion of fuel demand amid probable tight supply .Brent crude futures fell 96 cents, or 1%, to $96.96 a barrel by 11:31 a.m. EDT (1531 GMT). West …

The US dollar’s performance undoubtedly attracts investors to favour it above most financial assets and rival currencies. This seems natural as most foreign currencies are now weak. Over the passage of several months in 2022, markets have noticed that European companies underperformed US peers by a significant margin. The same …

On Monday, Germany greed to support joint EU debt in order to encounter the continent’s energy crisis. Last Tuesday, European Economic Commissioner Paolo Gentiloni and Internal Market Commissioner Thierry Breton called for joint borrowing to finance the necessary response to the energy crisis in the Eurozone.German Finance Minister Christian Lindner, …

Data on Monday, October 10 showed that Turkey’s unemployment rate fell 0.4 percentage points month-on-month to 9.6% in August, while the seasonally adjusted underutilization of the labor force fell to 19.8%. The rate of incomplete exploitation of the labor force, which amounted to 22.4% in July, has taken a downward …

The dollar rose slightly on Monday as investors awaited this week’s inflation data, which is expected to show that price pressures remain strong. Meanwhile, the British Pound fell for the fourth consecutive session even after the Bank of England extended its support to the markets. US data on Thursday is …

European shares fell for a fourth consecutive session Monday, October 10, as investors worried about the impact of rising tension between Ukraine and Russia and central banks’ determination to curb inflation on economic growth and corporate profits. The pan-European Stoxx 600 index was down 0.6% by 0708 GMT, its lowest …

Gold prices fell to their lowest level in a week on Monday, after US jobs data reinforced expectations that the Federal Reserve will continue to raise interest rates sharply. Spot gold prices fell 0.5% to $1,686.55 an ounce by 0623 GMT, after hitting its lowest level since October 3. US …

The latest escalation in the Russia-Ukraine has been sending waves of fear to almost all financial assets, following an explosion that destroyed a part of the bridge in Crimea which is crucial for Russia’s war supplies. Escalation also contributed to the market’s sour sentiment. On the same line could be …