Forex Market

US Treasury Secretary Janet Yellen said on Friday that she will meet China’s central bank governor Yi Gang on the sidelines of the G20 Summit in Bali to discuss global economic conditions and China’s property market situation. The expected meeting will coincide with President Joe Biden’s planned Monday meeting with …

The sterling extended its gains towards 1.1790s after a soft US inflation report. The US Dollar sharplyfalls during the US session, as the US Dollar Index edged down 1.20%, below the 107.000 mark.The Consumer sentiment reading in the United States worsened as inflation expectations rose. The Pound Sterling keeps rising …

Bank of England policymaker Jonathan Haskel said on Friday that it is important for the monetary policy to stand firm against the risk of persistent inflationary pressure, as reported by Reuters.GBPUSD showed no immediate reaction to these comments and was last seen rising 0.6% on the day at 1.1780.Key Quotes“Concern …

Consumer confidence in the US deteriorated in early November. US Dollar Index stays deep in negative territory below 107.00. Consumer sentiment in the US weakened in early November with the University of Michigan’s (UoM) Consumer Confidence Index falling to 54.7 (flash) from 59.9 in October. This reading came in below …

Gold prices are headed for their biggest gain in more than two years after extending their gains on Friday, as signs of slowing inflation boosted hopes that the Federal Reserve may shift to easing monetary policy. Spot gold rose 0.1% to $1,756.54 an ounce by 1127 GMT, after rising more …

Official data showed the British economy contracted 0.2% in the three months to September, which is expected to be the start of a prolonged recession. Experts polled by Reuters had forecast a larger contraction of 0.5 percent of the gross domestic product in the third quarter. The Bank of England …

European shares opened higher on Friday, as news of China’s easing of strict Covid rules boosted stocks related to primary and luxury goods, which were also supported by better-than-expected sales data and margins from Richemont. The Stoxx 600 index rose 0.4 percent by 0812 GMT, and Swiss luxury goods Richemont …

WTI is currently changing hands at around $86.40 a barrel. The US Dollar fell on Thursday against all major rival currencies, yields plunged, as market participants rushed to bet on US Fed’s less hawkishness on monetary policy next December. Optimism returned to most assets. US Stocks soared. US indexes are …

“Canadians should expect even more rate hikes to come on top of six that have already happened this year,” said Bank of Canada Governor Tiff Macklem during an interview with CBC News late Thursday.As for price reaction, the USD/CAD pair bears take a breather at a seven-week low, around 1.3323 …

Kansas City Federal Reserve President Esther George on Thursday reiterated her support for a slower pace of US interest rate increases. She also called for a more measured method that could allow policymakers time to judge how the rises in borrowing costs are affecting the US economy.“I continue to see …