Gold moved in a limited trading range on Wednesday as investors awaited the Federal Reserve’s monetary policy meeting statement that could provide clues about further interest rate hikes. And by 0647 GMT gold prices in spot transactions fell 0.1 percent to 1737.79 dollars an ounce, while there was little change …
Read More »Market Drivers – US Session 22/11/2022
The US dollar plummeted on Tuesday amid the better performance of global equities which closed in the green territory on the back of positive risk appetite Wall Street posted considerable gains, adding the most in the final hours of trading. On the other hand, US Treasury yields edged lower with …
Read More »Gold benefits from positive risk appetite, softer US dollar
Gold Price registers gains of 0.03%, and the precious metal is now trading around $1738 as Fed policymakers begin to price a 50 bps rate hike and the US central bank needs to tighten monetary conditions.The US Dollar edges lower on Tuesday as the American currency is weighed by falling …
Read More »EUR/USD Goes Defensive As FOMC Minutes Awaited
An improvement in the market’s sentiment despite the looming Covid woes from China and mixed concerns surrounding the US-China relations help the pair to register the first daily gain in four on Tuesday. EUR/USD buyers are relaxing ahead of Wednesday that is literally eventful. The EUR/USD pair has steadied around …
Read More »US T-Yields Drop As Investors Await FOMC Minutes
Global equities surged on Tuesday while US Treasury yields dropped ahead of the awaited release of the Federal Reserve’s meeting minutes for November. Investors are looking forward to clues on the upcoming US interest rate hiking. On the other hand, China’s COVID restrictions weighed on the overall market sentiment.Benchmark 10-year …
Read More »Hunt, BoE Governor to cut maximum size of APF
In exchanged letters between the BoE governor and the UK finance minister regarding asset purchase programme, there was a mention of the official intention to looming cutting of the maximum size of the Asset Purchasing Facility, APF.The maximum size of the APF authorized has been cut to GBP871 bln, of …
Read More »GBP/USD steadily surges on softer US Dollar
The British Pound extended its gains amid prevalent positive risk appetite on Tuesday. The Pound Sterling climbed in the US session, though Fed’s hawkish commentary continued and policymakers expressed the likelihood of moderating the tightening cycle pace. China’s Covid-19 outbreak constitutes another factor triggering investors’ fears, though some fears weakened …
Read More »Data-wise Canada’s consumer spending still robust
Tuesday’s data showed the declining retail sales in Canada in September by 0.5%. The biggest decline comes from gasoline and is linked to lower prices during the month in question , making sales a little better in volume terms with a 0.1% decline.The advance estimate for October shows a healthy …
Read More »USD Index to further decline under 105
The US Dollar Index (DXY) has experienced a quick decline toward the 200-Day Moving Average at 105/104.60 which is also the low previously recorded last August. A break below the current level would open up next potential supports at 103 and 101.90/30 according to analysts.Daily MACD is within deep negative …
Read More »All eyes on the RBNZ
On November 1 New Zealand house prices showed the first sign of strain, with their first annual fall in more than 11 years. Prices fell 0.6% from the previous year, and values fell for a 7th consecutive month. This is due to the affordability challenge for buyers either getting new …
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