The British pound finished the week recording its second consecutive week in the green territory; it printed solid gains of 1.49%, amidst an upbeat market mood, portrayed by US equities closing higher on Friday. The GBP/USD pair was trading at 1.2170, 0.05% down, during the North American session.US shares finished …
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The US dollar loses some of its earlier shine late on Friday amid lower US yields. The EUR/USD pair practically flat for the week and remains sideways.Price keeps moving below 1.0260 and supported by 1.0100. The EUR/USD printed a fresh daily low during the US session at 1.0145 and then …
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Since February 2022, the war in Ukraine has contributed to the acceleration of turning the compasses of Russia’s eastwards and sent local demand for China’s yuan to record highs. This has helped to tame a four-month ruble rally that has accumulated pressure on companies and the budget.Trading volume in the …
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The USD/CAD pair rebounds from a six-week low set on Friday amid the emergence of fresh USD buying. The upbeat US PCE report revives Fed rate hike bets and remains supportive of the USD bounce.As investors digest the less hawkish FOMC decision and Thursday’s disappointing US GDP print, the US …
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According to the Federal Reserve Bank of Atlanta’s GDPNow model, the US economy is expected to grow at an annualized rate of 2.1% in the third quarter.The US Dollar Index showed no immediate reaction to this news and was last seen posting small daily losses at 106.05.“The initial estimate of …
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Gold trades at $1768 per ounce at the time of writing. The Gold Index rebounds after hitting a fresh low, at the same time, US yields erase earlier gains, back near recent lows. Gold prices benefited from Friday’s weaker US dollar during the American session.Gold continues to shine as it …
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Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, climbed to 6.8% on a yearly basis in June from 6.3% in May, the US Bureau of Economic Analysis reported on Friday. This reading came in higher than the market expectation of 6.7%. The Core PCE …
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The Russian government said in a statement on Friday that it and Saudi Arabia remain firmly committed to the goals of the OPEC+ agreement to maintain market stability and balance supply and demand in global oil markets. Russian Deputy Prime Minister Alexander Novak met with Saudi Energy Minister Prince Abdulaziz …
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The annualized Eurozone Harmonised Index of Consumer Prices (HICP) accelerated by 8.9% in July vs. June’s 8.6%, the latest data published by Eurostat showed on Friday. The market consensus was for an 8.6% figure. The core figures rose to 4.0% YoY in July when compared to 3.8% expectations and 3.7% …
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The Japanese yen rose on Friday, set for its biggest weekly gain in four months against the dollar on bets that US interest rates are nearing a peak after data on Thursday showed that the world’s largest economy unexpectedly contracted in the second quarter. Futures markets expect US interest rates …
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