Forex Market

Data from the Turkish Statistical Institute showed on Monday that the economic confidence index fell by 0.3 percent on a monthly basis in February to 99.1 points, after violent earthquakes devastated the southern region of the country. The index, which indicates an optimistic outlook when its reading exceeds the 100 …

The dollar settled near its highest level in seven weeks on Monday, after a batch of US economic data supported expectations that the Federal Reserve should continue raising interest rates for a longer period. Data on Friday showed a sharp rise in US consumer spending in January as inflation accelerated. …

Official data on Monday showed Turkey’s foreign trade deficit increased 38.4 percent year-on-year to $14.24 billion in January, with imports rising 20.7 percent and exports 10.3 percent. The Turkish Statistical Institute stated that imports jumped to 33.61 billion dollars in January, while exports increased to 19.37 billion dollars. Under an …

Gold prices fell to the lowest level in two months on Monday, after strong US economic data fueled fears that the Federal Reserve (the US central bank) will take more measures to raise interest rates to curb inflation. Spot gold fell 0.1 percent to $1,808.51 an ounce by 0541 GMT. …

Oil prices were little changed in early trading on Monday, as Russia continued its plans to cut its production further to support prices, while rising crude inventories in the United States and rising risks from global inflation weighed on prices. US West Texas Intermediate crude futures were trading at $76.36 …

Fed’s Philip Jefferson said on Monday that it is possible for inflation to decline without an unnecessary amount of disruption in the job market, as reported by Reuters.The US Dollar stays under modest bearish pressure following these comments and the US Dollar Index was last seen losing 0.35% on a …

Risky assets retreated following Friday’s inflation report, with bitcoin losing about $762.36 to trade below $23,190.00, within a few dollars of its lowest level of this week. Nasdaq 100 futures were down 1.9%, and S&P 500 futures are lower by 1.4%. The January PCE Price Index unexpectedly rose to 5.4% …

The dollar index on Friday surged by +0.55% and posted a 1-1/2 month high.  Higher Treasury yields boosted the American currency with the prospects for continued hawkish Fed after Friday’s stronger-than-expected US economic data. The dollar also found support on hawkish comments by Fed officials. ECB’s Nagel said with core …

“Markets have taken on board probabilities around a changed fiscal stance as well as the more aggressive Fed and expect inflation to come under control in quarters and years ahead,” St. Louis Federal Reserve President James Bullard said on Friday.Bullard’s comments don’t seem to be having a significant impact on …

The Fed will unlikely bring down inflation without having to raise interest rates ‘significantly’ higher, causing a recession, according to a research paper released on Friday.Former Fed Governor Frederic Mishkin is one of the authors of the white paper that examines the history of central bank efforts to create disinflation. …