Forex Market

FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve’s decision to raise the policy rate by 75 basis points to the range of 3-3.25% following the September policy meeting.Key quotes“Plausible that job openings could come down without as much of increase in unemployment”.“Longer run inflation expectations …

The major US stock averages retreated, reversing earlier gains, after the Fed announced its third consecutive 0.75-percentage-point interest-rate increase. The two- and 10-year U.S. Treasury yields rose to 3.581 up by some +0.17% after the announcement.Following is how the US indexes are performing versus five minutes before the rate policy …

The US Federal Reserve on Wednesday announced that it raised the policy rate, federal funds rate, by 75 bps to the range of 3-3.25%. The Federal Reserve was widely expected to stick to the baseline market expectation and raise rates by 75 basis points and refrain from a bigger move …

The EUR/USD pair dropped further during the American session and bottomed at 0.9865, the lowest level in two weeks, and became just one pip above the YTD low. The pair is trading at 0.9937 at the time of writing.The pair remains near the lows as traders await the FOMC decision. …

Gold has benefited from increasing tensions in East Europe. So, gold price snaps two days of consecutive losses and climbs, despite broad US dollar strength, courtesy of increasing tensions between Ukraine and Russia. Investors’ pursuit of safety bolstered the precious metal. At the time of writing, XAU/USD is trading at …

UK Prime Minister Liz Truss said on Wednesday that her government ponders the proliferation of low-tax investment zones across the country. “Alongside the tax statement that the finance minister will lay out, he’ll also lay out a series of supply-side reforms to make our economy more productive over the long-term, …

Existing Home Sales in the United States have declined for the seventh successive month in August to a seasonally adjusted annual rate of 4.8 million.The National Association of Realtors reported on Thursday that “sales were down 0.4% and 19.9% on a monthly and yearly basis, respectively”. “The median existing-home sales …

The Russian ruble fell 1% to 61.2 against the dollar on Wednesday after Russian President Vladimir Putin announced a partial mobilization of the army in a speech broadcast on state television. Russian President Vladimir Putin ordered the country’s first military mobilization since World War II, warning the West that if …

Ukraine’s grain exports have fallen 43.2 percent year on year since the start of the 2022-2023 season to 6.88 million tons, the Ukrainian Ministry of Agriculture said on Wednesday. The country’s grain exports plummeted after the war broke out in February due to the closure of its ports on the …

Gold rose on Wednesday after Russian President Vladimir Putin announced a partial mobilization of the army in a decision that restored the attractiveness of the yellow metal as a safe haven. Still, the strength of the dollar and the expectation of a US interest rate hike limited the gains. And …