The US dollar is pulling lower on Monday’s US trading session, giving away previous gains after having peaked at 1.3685. On the daily chart, however, the pair remains moderately positive, on track to close a three-day rally from 1.3495 lows last week.The Federal Reserve is attracting investors’ attention this week. …
Read More »Gold rebounds after falling below $1620 ahead of Fed meeting
Gold prices rebounded to $1636.72 per ounce after briefly falling to below $1620. Broad US Dollar strength ahead of the Federal Reserve meeting keeps the precious metals segment under pressure. Gold price slid for the second consecutive day as the US Dollar advances, ahead of the Federal Reserve Open Market …
Read More »Dallas Fed Manufacturing Index drops below expectations
Dallas Fed Manufacturing Index for October came below market expectations. The headline General Business Activity Index of the Federal Reserve Bank of Dallas’ Texas Manufacturing Survey declined to -19.4 in October versus the previous reading -17.2 in September. The fresh figure is weaker than the market expectation of -15. Further …
Read More »Turkish Defense Minister: Suspending the grain agreement will not benefit any party
Turkish Defense Minister Hulusi Akar said on Monday that suspending the agreement to export grain from the Black Sea will not benefit any of the parties involved, after Moscow suspended its participation in the initiative. Akar stated that he will hold a phone conversation with his Russian counterpart Sergei Shoigu …
Read More »Eurozone Preliminary Inflation soars 10.7% YoY in October
The annualized Eurozone Harmonised Index of Consumer Prices (HICP) jumped by 10.7% in October vs. September’s 9.9%, the latest data published by Eurostat showed on Monday. The market forecast was for a 9.8% print. The core figures climbed to 5.0% YoY in October when compared to 4.9% expectations and 4.8% …
Read More »European shares slip ahead of inflation data
European shares fell on Monday, led by lower energy and mining shares, while investors awaited the key inflation reading in the eurozone, which is likely to show prices rose to new record levels in October. The pan-European Stoxx 600 index fell 0.1 percent after closing higher on Friday, while the …
Read More »Markets’ Weekly Recap, October 24-28
The yen fell on Friday as the Bank of Japan stuck to its accommodative policy. At the same time, the dollar attempted to recover from losses at the weekend on expectations that the Federal Reserve would signal a slowdown in interest rate hikes. The dollar was last up 0.8 percent …
Read More »Market Drivers -US Session 28/10/2022
The US Dollar Index, a gauge of the buck’s value vs. a basket of its rivals, advances 0.30% at 110.895. Market participants turn to the next week’s Open Market Committee (FOMC), in which most analysts expect the Fed to hike rates by 75 bps. However, December’s meeting is split between …
Read More »GBP/JPY touches six-year highs
The GBP/JPY registered strong gains during the week of 2.72%. The Bank of Japan intervention gave GBP/JPY buyers a better entry price around the weekly lows of 165.43.The GBP/JPY pair is still upward biased, about to test the February 2016 high at 175.01. The pair also rallies to fresh six-year …
Read More »Bezos Versus Yellen, Is US In A Recession?
Treasury Secretary Janet Yellen said that she did not see signs of a recession in the near term as the US economy rebounded from six months of contraction.Yellen also noted the third quarter GDP data released Thursday underscored the strength of the US economy less than two weeks from the …
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