Forex Market

The Reserve Bank of New Zealand General Manager Christian Hawkesby said, on Monday, that the central bank needs to tighten conditions past neutral of 2% and reduce stimulus. Hawkesby forecasts a period of subdued consumption. He also said the risk of a recession is a possibility. The NZD was boosted …

If the Russian ruble is, against any practical scale, an indicator of the nation’s economic conditions, one can easily conclude that an initial storm has been caused by the West’s sanctions. When the West reacted to Russia’s military operation in Ukraine with a bulk of financial and trade sanctions, the …

The first quarter of 2022 recorded US GDP growth rate of minus 1.5%, although nearly 1.7 million jobs have been created. For the second quarter, job growth is expected slow down, but most economists are forecasting growth to be in the 2% to 3% range. If economists are wrong and …

The cash crisis emerging at four rural banks in the central Chinese province of Henan is currently every saver’s nastiest nightmare.Deposits at four rural banks in the central Chinese province of Henan have been frozen since April 18, with looming protests in the capital city of Zhengzhou despite President Xi …

The USD/CAD continued to decline during the North American session and recorded a fresh one-month low at 1.2649. the pair is hovering now near the lows, holding onto daily losses, about to post the fourth consecutive decline.The combination of an improvement in market sentiment, higher crude oil prices and a …

Gold begins the trading week with relatively positive performance, up by 0.20%. the Holiday in the US is expected to keep the precious metal’s prices within a tighter range amid a busy US economic calendar week.An absent US economic docket on Monday keeps gold traders leaning on market sentiment and …

Member of Fed Board of Governors, Chris Waller said on Monday that he supports hiking interest rates by another 50 bps at the next several FOMC meetings and that the policy rate should be above neutral by the end of the year to reduce demand, reported Reuters. Waller also said …

Canada’s Current Account for Q1 rose to C$5.0B from -C$0.1B in Q4 2021, bigger than the expected jump to C$3.2B, data released by Statistics Canada on Monday revealed. Positive moves in global commodity markets helped boost Canadian exports last quarter, and will likely do the same in Q2. 

Gold prices rose in choppy trading on Monday, boosted by a weaker dollar, although some investors’ shift to riskier assets in Asia limited those gains. And gold rose in spot transactions 0.2 percent to $ 1856.86 an ounce at 0152 GMT. US futures rose 0.1 percent to $1,859.40 an ounce. …

Japan’s Nikkei index closed at its highest level in more than a month on Monday, boosted by equipment and technology shares, after stimulus measures in Shanghai and the easing of Covid-19 restrictions calmed fears of a sharp slowdown in China, the world’s second-largest economy. The Nikkei index rose 2.19 percent …