Forex Market

US dollar tumbles after weak economic data. US PMI S&P Global shows the lowest reading in more than a year. The AUD/USD pair finds resistance around 0.6960 and losses momentum.The asset also broke above 0.6900 after the release of US economic data and peaked at 0.6962, the highest level since …

The GBP/USD pair jumps from YTD lows after US economic data reignited recession fears. US S&P Global PMIs were mixed, though reignited recession fears.The GBP/USD is trading at 1.1860, after hitting a YTD low at 1..1716, so the major swang more than 100 pips as a reaction to the abovementioned …

According latest ‘flash’ PMI™ data from S&P Global, US private sector firms signaled a sharper fall in business activity during August. The decrease in output was the fastest seen since May 2020 and solid overall. The rate of contraction also outpaced anything recorded outside of the initial pandemic outbreak since …

European shares extended losses on Tuesday as investors awaited an important batch of economic data to gauge the strength of companies in a hyperinflationary environment while rising energy prices and a weak economic outlook prevailed. The pan-European Stoxx 600 index fell for a third straight session and fell 0.2 percent, …

Gold prices fell to near a one-month low on Tuesday, as the yellow metal’s appeal against the dollar’s strength declined and investors continued to wait for the Federal Reserve to raise interest rates sharply. The price of gold in spot transactions at 1736.43 dollars an ounce (an ounce) by 0655 …

Data from the Ukrainian Ministry of Agriculture showed that exports of the country’s main agricultural commodities have almost halved since the start of the Russian invasion compared to the same period in 2021. Russia began its attack on Ukraine on February 24, calling it a “special military operation”. As a …

Although safe-haven flows dominated the financial markets for the majority of the day on Monday, Wall Street’s main indexes managed to close the day modestly higher.Gold suffered heavy losses and dropped toward $1,770 on Monday. With the 10-year US T-bond yield edging lower during the American trading hours, XAU/USD edged …

Gold trades at $1,735.77 per ounce at the time of writing versus $ 1,747.37 in the previous trading session. Gold prices are generally falling behind the pace again to begin the week. The latest Consumer Sentiment data is being blamed for another sharp surge in the US Dollar overnight that …

The Dow Jones Industrial Index sharply fell, on Monday, in its worst day since June, as the summer rally fizzled out and fears of aggressive interest rate hikes returned to Wall Street.The Dow fell 643.13 points, or 1.91%, to 33,063.61. The S&P 500 dropped 2.14% to 4,137.99, and the Nasdaq …

The AUD/USD pair is back to flat on the day following a risk-off-led drop at the start of the week. The bears are waiting for the Jackson Hole around the corner amid Chinese economic fears.AUD/USD bulls are attempting to stabilize the pair following a test of daily lows at the …