Forex Market

European shares opened lower on Monday, with mining and luxury stocks tumbling after hopes that China would ease its strict COVID-19 restrictions earlier this week faded. The pan-European STOXX 600 index fell 0.5% by 0805 GMT, after a string of gains that extended for four consecutive weeks. Shares of European …

Significant events dominated price action across global financial markets last week, including Fed’s rate decision and US NFP data, namely the most important events of the monthFOMC Decision, US Rate Hike The Fed raised interest rates by 75 points last week, bringing the accumulative key rate to 4.00%, after raising …

The US dollar fell on Friday after the release of the country’s nonfarm payrolls report for October. The latest NFP reading indicated that the world’s largest economy created more new jobs than expected, but also flashed other signs of economic slowdown with a higher unemployment rate and lower wage inflation.The …

The US economy added more jobs than expected in October even as the Fed pressed on with the central bank’s most aggressive monetary tightening campaign in decades.Friday’s figure effectively serves as a catalyst for Fed policymakers to proceed with further rate hikes, particularly after messaging from Fed Chair Jerome Powell …

The Australian dollar rallies 2.5% on the day to hit session highs at 0.6470. Risk appetite and the US employment report have boosted the AUD.The Australian dollar is going through an extraordinary recovery on Friday, rallying about 2.5% on the day amid a favorable market sentiment, to regain most of …

The Canadian employment data, o Thursday, surpassed expectations with a positive change in employment of 108K above the 10K of market consensus. The surge could be a signal that some of the declines seen over the summer were simply statistical noise. Accordingly, the data support the call for a further …

The American Dollar faces difficulty finding ground, it is down by 1.39%, as the US Dollar Index reading reflects. Speculations that the US central bank could tighten in smaller increases mounted as the labour market gave signs of easing.The US 2s-10s yield curve inversion, the deepest since the 1980s, and …

Some economists have revised down their EUR/USD forecast. Accordingly, the pair is expected to slump towards the 0.95 mark.It is not clear if the ECB can support the EUR with rates hikes. The EUR is not fully priced for the headwinds facing the Eurozone economy.There are no guarantees currently that …

Nonfarm Payrolls in the US rose by 261,000 in October, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in much higher than the market expectation of 200,000. Additionally, September’s reading got revised higher to 315,000 from 263,000. The Unemployment Rate edged higher …

European shares opened higher on Friday, with luxury goods and mining companies leading the upward trend amid hopes that China will soon ease its strict restrictions related to the fight against the Coronavirus. The Stoxx 600 index rose 0.7% by 0813 GMT, supported by a 3.2% jump in mining stocks, …