Forex Market

On Friday, September 2nd, European shares recouped some of the losses they incurred during a turbulent week in which concerns increased about the energy crisis, strong inflation data and expectations of an interest rate hike by the European Central Bank next week. The European Stoxx 600 index rose 0.7%, ending …

September brought some additional recession-related concerns to almost all financial markets, however; the American dollar surged, helped by positive US data and the negative market sentiment.The EUR/USD pair trades around 0.9950, while GBP/USD plunged to 1.1497, now trading around 1.1540. Commodity-linked currencies finished the day mixed, as AUD/USD is down …

At the time of writing, gold trades around $1695.60. in order to defend its stance, Gold attempted to build a fort near $1,690 on Thursday after a steep retreating move. Gold seeks a chance to rebound; such a pullback could push gold above the psychological resistance of $1,700.00.The downtrend will …

This Friday’s NFP report for August comes one week after remarks by Fed’s Jerome Powell, in his speech before Jackson Hole symposium, opening the door for important questions, including but not limited to: how much the jobs data will convince Fed’s policymakers of a certain QT course.NFP data has usually …

Eurozone bond yields sharply surged on Thursday and the Italian 10-year yield breached 4% for the first time since June, but this happened only briefly. Traders continue betting on a jumbo interest rate hike in next week’s ECB monetary policy meeting.Eurozone money markets on Thursday were discussing the 85% chance …

US dollar is soaring after the ISM Manufacturing PMI data. The GBP/USD pair drops for the fifth successive day. So, the stronger US Dollar pushed the pair under 1.1500 for the first time since March 2020. The dollar is sharply rising following the positive US economic data, amid risk aversion …

According to the Fed Bank of Atlanta’s GDPNow model, the US economy is expected to grow at an annualized rate of 2.6% in the third quarter, up from 1.6% in the previous estimate.“After this morning’s construction spending release from the US Census Bureau and this morning’s Manufacturing ISM Report On …

The EUR/USD pair has collapsed by 1% after upbeat US economic data. The pair breaks below parity, extending its losses after hitting on Wednesday a weekly high at 1.0079.Better than expected US S&P Global and ISM Manufacturing PMI further support Fed’s rate hiking stance and even a jumbo 75 bps …

Gold prices fell briefly below the $1,700 key level on Thursday for the first time in six weeks as major central banks tightened monetary policy to combat inflation, curbing demand for the non-yielding yellow metal. Spot gold fell 0.4 percent to $1,704.70 an ounce by 0917 GMT, after touching $1,699.30 …

The fall of the safe haven gold continued to head towards $1700 despite the lull in the dollar’s rallies that are still hovering near the 109 levels, but the crazy hikes in the two-year bond yields continue to raise concerns about recession fears. On the other hand, US bonds did …