Forex Market

Treasury Secretary Janet Yellen denied on Tuesday an unconfirmed report that President Joe Biden would replace her after the November midterm elections, saying she plans to stay on as head of the Treasury.Yellen shut down speculation about her exit, saying that “There is no truth to that”. Republicans have been …

German Finance Minister Christian Lindner defended his country’s 200 billion euro defense shield to fund energy relief. Lindner also rejected calls for joint European Union debt, in comments to broadcaster ZDF on Tuesday.“Joint debt does not help us in the long run to strengthen competitiveness or with the sustainable finances …

GBP/USD keeps moving back and forth on Tuesday in a day that ran through a vast territory for a fresh high for the week, so far, at 1.1489 from a low of 1.1280. The American dollar was hit hard by lower-than-expected JOLTS data that has accompanied weak Manufacturing data and …

USD/CAD drops 100 pips on Tuesday, extending its weekly losses to almost 2%. Broad US dollar weakness and high crude oil prices undermine the USD/CAD, a tailwind for the CAD.The US economy is slowing as the Fed wishes, as portrayed by the JOLTs report missing estimations. Fed policymakers continue to …

The EUR/USD pair extends gains above 0.9900 and the next barrier is at 1.0015. the Euro gains more than 400 pips from last week’s low. On the other hand, the US Dollar retreated across the board on risk appetite and lower US yields.The EUR/USD rose even further during the American …

European Central Bank President Christine Lagarde said on Tuesday it was difficult to say whether or not inflation has peaked in the euro area.“The minimum that we have to do is to stop stimulating demand,” Lagarde added. These comments don’t seem to be having a noticeable impact on the shared …

The Kremlin said Tuesday (October 4) that Tesla founder Elon Musk has outlined a possible peace deal with Ukraine as a “positive step,” hours after Kyiv criticized Musk’s call for a negotiated settlement to the seven-month conflict. Kremlin spokesman Dmitry Peskov told reporters on a conference call that Moscow was …

Gold prices hit a three-week high on Tuesday, prompting all precious metals to gain, with the dollar and US Treasury yields falling again after hitting their highest levels in years, restoring the allure of the non-yielding precious metal. And gold rose in immediate transactions 2.5 percent to $ 1707.20 an …

Turkey’s Trade Ministry announced on Tuesday that the country’s trade deficit jumped 298 percent year-on-year in September to $10.384 billion, as rising energy import costs continue to cause the deficit to grow. The data showed that exports grew by 9.2 percent to $22.62 billion in September, while imports jumped 41.5 …

Most economists expect the Reserve Bank of Australia to decide one more big rate hike on Tuesday before shifting to slower moves in the near future. With a majority of Australian mortgages on adjustable rates, policymakers could issue a decision that is weighing inflation control and currency support against a …