Forex Market

The US economy contracted at an annualized rate of 0.6% in the second quarter, the US Bureau of Economic Analysis’ (BEA) third and final estimate showed on Thursday. This reading came in line with the market expectation and the previous estimate. GDP, the standard economic growth measure, is the value …

The British pound and the euro fell on Thursday, while the dollar rose as the relief over the Bank of England’s intervention in the bond markets faded. Investors are awaiting German inflation data. On Wednesday, the British currency jumped to its highest level since mid-June after the Bank of England …

European shares tumbled on Thursday, with some companies, including Sweden’s H&M, warning of the repercussions of rising inflation and costs on their activities, negatively affecting sentiment before releasing highly anticipated German inflation data. The pan-European Stoxx 600 index was down 1.7 percent by 0759 GMT after it failed to follow …

Oil prices fell on Thursday after rising more than $3 in the previous session, as a stronger dollar curbed demand for oil and worries about a faltering global economic outlook weighed on market sentiment. Brent crude futures fell 91 cents, or 1%, to $88.41 a barrel by 0629 GMT, while …

Thursday’s GDP update will help provide a correct answer to whether US economy has fallen into recession. It is becoming more difficult to figure out what is really going on in the globe’s largest economy. Firmer Final US GDP in the second quarter could offer US dollar rebound as Fed …

The AUD/USD pair is advancing amid positive market sentiment. The Dollar Index has plummeted below 113.00 despite hawkish commentary from the Fed policymaker. The AUD/USD pair is witnessing a mark-up inventory accumulation phase after displaying a juggernaut rally to near 0.6530. The pair is expected to extend its recovery and …

US treasury yield fell, on Wednesday, after climbing to the highest since January 2008. The yield on the US 10-year note was last seen down 24.2 basis points to 3.705%, after earlier touching 4.01%, the first rise above 4% in nearly 15 years while money markets girded for higher interest …

Bank of England intervened by buying government bonds so as to stabilize the bond market. This move was able to strengthen the Pound whose performance improved on the BoE’s announcement.The EUR/GBP pair is hovering around 0.8940 practically flat for the day after moments of extreme volatility following the surprise announcement …

The EUR/USD pair bounces from two-decade lows recorded during the European session, gaining 1.34% in the day, boosted by improved in market sentiment and a weaker US dollar, despite the Fed’s hawkish stance, opening the door for aggressive tightening by the end of the year.The Euro began trading nearby the …

The International Monetary Fund has joined a wide range of institutions worldwide criticizing the UK’s huge tax cuts in a plan that has exerted mega pressure on the pound which was plunging to a record low.With this rare criticism of the UK’s large developed economy, the International Monetary Fund is …