Forex Market

Gold prices drifted higher on Friday helped by a drop in U.S. Treasury yields and setting the metal on path for a fourth straight week of gains, as investors took stock of the recent inflation data out of the United States.Gold rose 0.5% to $1,798.86 per ounce by 1800 GMT …

The Russian GDP from April through June declined 4 percent over last year according to new government data. Russia’s economy contracted in the second quarter as the economic consequences of its war in Ukraine took hold.The economy shrank 4 percent from April through June compared with a year ago, the …

The EUR/USD pair hesitates to hold above 1.0300, preparing to finish the week with gains of just 0.21%. US Consumer Sentiment rises to a three-month high, while inflation expectations remain mixed.EU’s Industrial Production surprised to the upside, but recession is still looming. The pair could not hold to its two-day …

Data released on Friday showed a rebound in Consumer Confidence in August according to the University of Michigan’s preliminary report. Analysts at Wells Fargo point out the relief comes amid a modest bounce in consumer sentiment from what was an all-time low in June. They take little solace in the …

Richmond Fed President Thomas Barkin said on Friday that there is more to come to get rates into the restrictive territory and noted that he would like to see PCE inflation running at target for some time, as reported by Reuters.The dollar continues to outperform its rivals after these comments …

The dollar rose in early trade in London on Friday as hawkish comments from Federal Reserve officials weighed against the notion that US inflation data this week could prompt the US central bank to slow down policy tightening. US inflation data came in less than expected, which led to support …

Gold prices stabilized on Friday and headed for the fourth consecutive weekly increase, in light of the general weakness of the US dollar, which was pressured by the increase in the yield on Treasury bonds, as well as expectations of a US interest rate hike. And by 0319, gold prices …

The US dollar seesawed between gains and losses on Thursday, ending the day lower against most major rivals. Wall Street opened the day firmly higher amid more signals of receding US inflationary pressures, as the July Producer Price Index advanced by 9.8%, below expected.The EUR/USD pair peaked at around 1.0360 …

The Reserve Bank of New Zealand is expected to stick to its hawkish stance and go on with a fourth straight half-point rate hike, in August, continuing its most aggressive tightening in over two decades in an attempt to control the country’s stubbornly-high inflation,” as per the latest Reuters poll …

The GBP/USD pair is facing hurdles around 1.2200 as investors await UK GDP data. A vulnerable UK GDP will accelerate troubles for the BOE while higher Initial Jobless Claims have supported the US dollar at lower levels.The pair is expected to remain subdued as investors are awaiting the release of …