Forex Market

Federal Reserve’s president and CEO of the Federal Reserve Bank of St. Louis James Bullard: in a CNBC interview has said rates aren’t high enough now.Meanwhile, Fed funds futures traders are pricing in a 59% chance that the Fed will hike rates by another 75 basis points at its September …

The GBP/USD fluctuates during the day as traders wait for Fed’s Powell to take the stand on the sidelines. US growth in the second quarter improved but remains below the 0% threshold; a US recession looms.Money market futures expect the BoE to hike rates 250 bps by May of 2023. …

The Federal Reserve should continue raising it benchmark interest rate until it is over 3.4% and then “sit for a while,” said Philadelphia Fed President Patrick Harker on Thursday.“We don’t need to rush way up and then rush way down,” Harker said, in CNBC interview from the Fed’s retreat in …

The USD/CAD pair dropped 0.15% on Thursday as market players prepare for further hawkish rhetoric by the Fed. The USD/CAD slides towards new weekly lows in the North American session amidst a positive market mood, spurred by China’s 1 trillion CNY stimulus, aimed to fix the housing and construction crisis. …

The US economy contracted at an annualized rate of 0.6% in the second quarter, the US Bureau of Economic Analysis’ (BEA) second estimate showed on Thursday. This reading came in higher than the flash estimate of -0.9% and surpassed the market expectation of -0.8%.

European shares rose on Thursday after gross domestic product data from Germany, the continent’s largest economy, beat analysts’ expectations. At the same time, concerns ahead of the minutes of the European Central Bank’s latest meeting limited gains. The pan-European Stoxx 600 index was up 0.6 percent by 0712 GMT. Energy …

Gold prices rose for a third consecutive session on Thursday, supported by the dollar’s decline as investors looked to the Jackson Hole Economic Symposium for clues on inflation and the interest rate path from the US Federal Reserve. Spot gold rose 0.8 percent to $1,764.39 an ounce by 0927 GMT. …

The US dollar retreated from its highest level in two decades against a basket of major currencies on Thursday, as investors awaited the speech of Federal Reserve Chairman (US Central Bank) Jerome Powell in anticipation of recent indications regarding the course of monetary policy. The Australian dollar has outperformed its …

Investors have an eye on digesting the latest US economic data and another eye on the signals that could be contained in Fed Chair Jerome Powell’s speech before Jackson Hole Symposium on Friday. Fed’s annual event will host global economists and policymakers to discuss a variety of topics. Market players …

The USD/JPY pair is facing daily resistance as well as a break of the hourly trendline support that is expected to expose the asset at the 137’s figure. The asset is trading at 137.14 at the time of writing.A break below the said level could open the way for a …