Forex Market

US House Speaker Nancy Pelosi, who became Speaker of the House in 2007, announced that she will step down from her congressional leadership role, ending a two-decade streak as the top House Democrat. Pelosi’s statement, on Thursday, comes after signs that the Democrats will narrowly lose their House majority to …

Hawkish commentary by Federal Reserve officials underpinned the US Dollar. US economic data was mixed as unemployment claims dropped, while housing data delivers a gloomy outlook.Wednesday’s Canadian Consumer Price Index failed to underpin the Canadian dollar which weakened versus the US Dollar after Federal Reserve policymakers expressed that inflation remains …

At the time of writing, the is trading at 1.3362 versus the previous closing rate at 1.3327. In 2023, the Canadian Dollar may emerge as a more attractive financial asset in the face of fluctuations. Economists believe that the USD/CAD pair could drop to the 1.25 level.Overall commodity picture should …

Irritating recession and interest rate worries impacted Europe’s markets on Thursday, and the pound fell as the United Kingdom seeks a way out from its disastrous fiscal experiment to leave it behind it with a new budget that is largely conceived of as austere-looking.Early optimism about Siemens’ earnings and expectations …

St. Louis Federal Reserve President James Bullard said on Thursday that a minimum level for a restrictive Federal Reserve (Fed) policy rate would be 5% to 5.25%, as reported by Reuters.The US Dollar Index edged slightly lower in the last hour but it was still up 0.6% at 106.90 at …

On Thursday, a statement by the Russian Foreign Ministry confirmed that the agreement to export grain through the Black Sea will be extended for 120 days, starting from November 18, without any amendments to the current agreement. The statement added that Moscow assumes that Russian concerns related to easier conditions …

German stocks led European indices higher at the open on Thursday, supported by data from Siemens, which recorded an optimistic rise in quarterly profits, while investors await the UK budget, which is expected to restore confidence in the British economy. The German DAX rose 0.9%, while the pan-continental Stoxx 600 …

Gold prices stabilized on Thursday as demand for the precious metal declined due to the latest geopolitical concerns, while hopes that the Federal Reserve (the US central bank) would be less aggressive in raising interest rates in the coming months boosted the markets. And by 0103 GMT, there was little …

The US dollar gathered some strength during the US trading session, closing mixed. The US dollar benefited from a deteriorating sentiment following Poland’s developments in relation to the Russo Ukrainian war, but also from Wednesday’s economic news.The EUR/USD pair trades at around 1.0370, while GBP/USD is stable around 1.1890. Commodity-linked …

Gold Price creeps lower after testing the weekly high around $1786 on Wednesday following the release of positive US data. The retail sales data triggered risk aversion, so, the US dollar’s stance as a safe haven benefited, but the Gold Index was not able failed to capitalize on falling US …