Forex Market

Tuesday’s midterm elections coincide with turbulent economic weakness in the United States amid accelerating recession-linked predictions as well as ongoing yield curve inversion. The results of Tuesday’s election will determine the makeup of a Congressional body that holds the powers to direct, guide and enact policies that will basically change …

Economic Optimism, Presidential Leadership and National Outlook indexes have dipped for the second consecutive month as Financial Related Stress improvesCoinciding with election day, the monthly IBD/TIPP Economic Optimism Index, a leading national poll on consumer confidence, dropped for the second straight month, moving from 41.6 in October to 40.4 in …

The Bank of England is pondering further raise interest rates due to concerns that inflation could become woven into the British economic activities, despite the growing risks of a prolonged recession according to BoE’s chief economist Huw Pill.Pill noted that there was “still more to do” to tackle soaring inflation …

The British pound rushed higher during Tuesday’s US session, bouncing off the 1.1470 area to erase daily losses and session highs right below 1.1600 as the Americans head to the polls.The sterling has abandoned previous weakness and jumped to session highs near 1.1600. the pair is trading at 1.158 at …

The dollar dives with all eyes on the US mid-term elections. So, the euro has squeezed higher on Tuesday’s US trading to hit session highs at 1.0550 with the US dollar dropping suddenly versus rivals. From a wider perspective, however, the pair has been moving without a clear direction, both …

Gold price creeps higher amid the lack of US economic data as investors observe the results of the US mid-term elections and October’s CPI. Treasury yields are lower on the day, while expectations for a 50 bps rate hike by the Fed stood above 50%. Gold price is subdued as …

According to Reuters, Turkish Energy Minister Fatih Donmez said on Tuesday that Turkey has started paying in Russian rubles for some of its natural gas purchases from Russiam. In an interview with the TRT news channel of the Turkish Radio and Television Corporation, Donmez said the share of payments in …

European shares opened lower on Tuesday, with miners leading the decline amid fears of slowing demand in China and investors being cautious ahead of the US midterm elections that will determine who will have control of Congress. The Stoxx 600 index was down 0.4 percent by 0808 GMT. The European …

The US dollar began the trading week, on Monday, with an attempt to recover the gains lost before Friday’s closing bell. Instead, the dollar ended with losing further ground against its major rival currencies.The dollar accelerated its decline late in the US session as Wall Street picked up momentum ahead …

European Central Bank President Christine Lagarde repeated that the cycle of interest-rate hikes has to ensure that inflation returns to the 2% target over the medium term.Meanwhile, the EUR/USD pair is on the up and traders have been of the mind that the US economy is slowing enough to allow …