Forex Market

Consumer confidence in the Eurozone declined in July due to the increasing cost of living and a slowdown of the economy, falling to its lowest level on record.The European Commission said Wednesday that its measure of consumer confidence in the region fell to minus 27.0 in July from a revised …

The Canadian consumer price index (CPI) surged 8.1 per cent in June from a year earlier, up from 7.7 per cent in May, Statistics Canada said on Wednesday. It was the highest inflation rate since 1983. Canada’s inflation soared to its highest rate in nearly forty years in June, although …

Existing Home Sales in the United States sharply declined for the fifth straight month in June to a seasonally adjusted annual rate of 5.12 million, the National Association of Realtors reported on Wednesday. Sales were down 5.4% and 14.2% on a monthly and yearly basis, respectively. Details of the report …

The International Monetary Fund announced that it lowered its growth forecasts for Germany to 1.2% for 2002 and to 0.8% for 2023. In its previous forecast, the IMF was expecting the German economy to grow by 2% in both years.“Uncertainty is very high, with risks to the baseline growth forecast …

On Tuesday, the Turkish lira fell as low as 17.579 against the US dollar. The dollar’s strength and concerns about rising domestic inflation and low-interest rates pushed the currency to its weakest levels since a major currency crisis in December. Since the historic crash last year, the central bank has …

Gold fell on Wednesday as fears of monetary policy tightening and an increase in Treasury yields dispelled relief from the dollar’s decline. By 0610 GMT, gold fell in spot transactions 0.3 percent to $1,706.85 an ounce. US gold futures fell 0.3 percent to $1,706 an ounce. The dollar fell for …

The UK Consumer Prices Index (CPI) 12-month rate came in at 9.4% in June when compared to 9.1% seen in May while beating estimates of a 9.3% print, the UK Office for National Statistics (ONS) reported on Wednesday. Meanwhile, the core inflation gauge (excluding volatile food and energy items) eased …

The EUR/USD pair soared to 1.0268 on headlines suggesting the European Central Bank could discuss a 50 bps rate hike when it meets this week. Economic DataThe data published by the US Census Bureau revealed on Tuesday that Housing Starts declined by 2% to a seasonally adjusted annual rate of …

Amid a positive market mood, the GBP/USD pair has managed to scales above 1.2000 after a mild correction. Investors focus now on UK Inflation, lower earnings and higher inflation rates may create more problems for the households in the UK.Declining inflation expectations in the US may hurt the Dollar Index …

Gold price leans bullish with time frame continuity in the favour of the bulls as XAUUSD inches higher within a bullish correction of the recent leg of supply from $1,750 that took out the $1,700 level last week. In general, a pullback in the US dollar continues to support the …