Forex Market

Gold price creeps higher amid the lack of US economic data as investors observe the results of the US mid-term elections and October’s CPI. Treasury yields are lower on the day, while expectations for a 50 bps rate hike by the Fed stood above 50%. Gold price is subdued as …

According to Reuters, Turkish Energy Minister Fatih Donmez said on Tuesday that Turkey has started paying in Russian rubles for some of its natural gas purchases from Russiam. In an interview with the TRT news channel of the Turkish Radio and Television Corporation, Donmez said the share of payments in …

European shares opened lower on Tuesday, with miners leading the decline amid fears of slowing demand in China and investors being cautious ahead of the US midterm elections that will determine who will have control of Congress. The Stoxx 600 index was down 0.4 percent by 0808 GMT. The European …

The US dollar began the trading week, on Monday, with an attempt to recover the gains lost before Friday’s closing bell. Instead, the dollar ended with losing further ground against its major rival currencies.The dollar accelerated its decline late in the US session as Wall Street picked up momentum ahead …

European Central Bank President Christine Lagarde repeated that the cycle of interest-rate hikes has to ensure that inflation returns to the 2% target over the medium term.Meanwhile, the EUR/USD pair is on the up and traders have been of the mind that the US economy is slowing enough to allow …

The European Central Bank’s Martins Kazaks said ”there is no pivot, we still say that inflation is a problem, and we will keep raising rates.”Kazaks has recently said that the ECB must raise interest rates much further, but that it is impossible to say how far because economic uncertainty is …

American crude oil rallies and trades at $92.24, benefiting from the US dollar which is losing ground. WTI prices resumed the upward trend that started on Friday as the US crude oil bounced up from levels right above $90 on the early trade, to reach levels past $93 for the …

The USD/CAD pair dropped after hitting the 1.3800 weekly high last week, falling by almost 2.50%. At the time of writing, the USDCAD is trading at 1.3505, down by 0.22%.The US jobs data was mixed, though a higher unemployment rate could push the brakes of the aggressive Fed’s rate hiking …

European shares opened lower on Monday, with mining and luxury stocks tumbling after hopes that China would ease its strict COVID-19 restrictions earlier this week faded. The pan-European STOXX 600 index fell 0.5% by 0805 GMT, after a string of gains that extended for four consecutive weeks. Shares of European …

Significant events dominated price action across global financial markets last week, including Fed’s rate decision and US NFP data, namely the most important events of the monthFOMC Decision, US Rate Hike The Fed raised interest rates by 75 points last week, bringing the accumulative key rate to 4.00%, after raising …