Forex Market

Several Wall Street banks raised expectations this week for the Federal Reserve’s next rate hike. Economists at Bank of America, Goldman Sachs, and Nomura now anticipate a 75 basis-point rate increase at their next FOMC meeting, this is up from previous forecasts of a half percentage-point hike.Following remarks by Fed …

Federal Reserve Governor Christopher Waller said on Friday that it was too soon to say whether inflation was moving meaningfully and persistently downward. The US Dollar Index showed no immediate reaction to these comments and was last seen losing 0.6% on a daily basis at 109.00.Additional Quotes“I support another significant …

Wells Fargo’s Analysts believe that the strength of the US dollar will continue through the end of 2022. They point out that despite a more aggressive pace of tightening from foreign central banks, they doubt international policymakers will be able to keep pace with the tightening cycle laid out by …

Kansas City Fed President Esther George said on Friday that “A steady path of rate hikes, predictable adjustments based on data could improve market functioning, facilitate balance sheet runoff”.The US Dollar Index showed no immediate reaction to these comments and was last seen losing 0.6% on the day at 109.00.Additional …

The Australian dollar is one of the top performers on Friday. The AUD/USD pair has retreated from near 0.6880 and found support at 0.6820.The AUD/USD peaked during the European session at 0.6877, the highest level since August 31 and then pulled back amid a stabilization of the greenback. The retreat …

As the US dollar trims losses on Friday amid risk appetite and a rebound in US yields, the Gold Index is hovering around $1710.Gold turned to the downside again after approaching the $1730 area and pulled back sharply toward $1710, erasing daily gains on Friday. The stabilized dollar and rebounding …

On Friday, the dollar is set to record its first weekly decline in four weeks, while a sharp interest rate hike by the European Central Bank led to gains for the euro, while investors await US inflation data due to be published next week. The dollar index, which measures the …

Statistics Canada reported on Friday that the Unemployment Rate in Canada rose to 5.4% in August from 4.9% in July. This reading came in worse than the market expectation of 5%. Further details of the publication revealed that the Net Change in Employment was -39.7K, compared to the market expectation …

The death of Queen Elizabeth II marks the beginning of a new era for the United Kingdom but one that will be fraught with economic uncertainty and mixed patriotic sentiments. Queen Elizabeth died on Thursday, September 8th, at 96, the longest-reigning monarch of the United Kingdom. Thousands of Britons gathered …

Gold prices rose more than 1 percent on Friday to its highest level in more than a week as a weak dollar boosted demand for the yellow metal, even as Federal Reserve policymakers pledged to raise interest rates to tame inflation pressures. And gold rose in spot transactions 1.1 percent …