Forex Market

European shares opened lower on Wednesday, led by heavy selling in Asian markets as the escalating energy crisis in the region and the continued rise in global bond yields fueled fears of a recession. The European Stoxx 600 index fell 0.8 percent by 0707 GMT, to continue its decline for …

The World Bank said on Wednesday it had approved $512.2 million in financing for Turkey to boost the resilience of the housing and infrastructure sectors to climate change and natural hazards. The bank said in a statement that $338.5 million of the financing would be used to develop new affordable …

Gold prices fell on Wednesday as the dollar and US Treasury yields rose to multi-year highs after hawkish comments from Federal Reserve officials boosted expectations of a sharp interest rate hike. By 0404 GMT, spot gold fell 0.3 percent to $1,624.12 an ounce, close to the two-and-a-half year low of …

The US dollar has further benefited from the recession-linked woes. Early Tuesday, the dollar received a further push from better-than-expected US data, on the contrary, Wall Street exhibited poor performance amid sour market sentiment.US bond yields started the day retreating from multi-year highs, picking up after the US session’s opening …

The EUR/USD is pressured and teasing two-decade low marked earlier in the week. Russia’s Nord Stream gas pipeline leaks, in the Baltic Sea, renewed fears about Europe’s energy crisis, and at the same time raised recession-linked fears. The EUR/USD pair holds lower grounds around the yearly bottom marked on Monday, …

European Commission chief Ursula von der Leyen on Tuesday said the leaks of the Nord Stream pipelines were caused by sabotage.The EU’s official also warned of the “strongest possible response” should active European energy infrastructure be attacked.Ursula von der Leyen spoke to Danish Prime Minister Mette Frederiksen on the sabotage …

Gold is trading at $1629.30 per ounce at the time of writing versus Monday’s closing price of $1622.15. Gold price is relatively higher on the day as markets head into the close of Wall Street. The yellow metal gained ground on Tuesday as bulls moved in at the lowest levels …

Fed Chair Jerome Powell warned that taming inflation would mean some “pain” to US households and businesses. So far, the pain materialized in retreating stock values and higher borrowing costs business investments, and credit-card purchases. But the pain could also include surging unemployment, and the consequences thereof.Fed’s newly aggressive rate-hikes …

The USD/CAD pair edges up but it earlier on the day it was still below the Year-To-Date highs at around 1.3730s, afterwards, it is trading at 1.34447 at the time of writing. Truth to say that US economic data was positive, supportive of the Fed’s current policy stance.The US CB …

Speedy US rate hikes raised the risk of recession, but it is likely to be caused by an outside shock rather than from the collapse of the American economy that remains robust according to statements by St. Louis Fed president James Bullard.Bullard said, at an economic forum in London, that …