Forex Market

The US will release its April employment figures on Friday, May 6. The NFP report is expected to show that the economy added 391K new jobs, below the previous 431K but still a good figure. The unemployment rate is expected to have contracted to 3.5% from 3.6% in the previous …

Russian natural-gas supplies have increasingly become a tool of pressure in the conflict between Moscow and Europe over Ukraine while Europe still relies on Russia for 40 percent of the gas that warms and lights its homes and businesses.The confrontation Russo-European conflict has also ignited a stubborn challenge for the …

US worker productivity fell at its steepest pace since 1947 in the first quarter, while growth in unit labour costs accelerated, indicating that rising wage pressures will continue contributing to keeping inflation elevated for a while. Nonfarm productivity, which measures hourly output per worker, plunged at a 7.5% annualized rate …

At $1,875, the gold price has been pressured and is trading not far from the lows of the day down at $1,872.54, losing some 0.34%. Gold fell from a high of $1,909.82 as the US dollar rebounded on Thursday, moving in on the 20-year highs reached last week, as per …

A few hours after the NFP release on Friday, gold investors could look to book profits toward the London fix, causing important assets, such as gold, to reverse direction after the initial reaction. Moreover, FOMC policymakers have clarified that they will focus on taming hot inflation, so they seem not …

The British sterling retreated on Thursday after the Bank of England hiked 25-bps interest rates in a 6-3 split decision. However, the UK central bank’s projections of a probable UK recession in 2023 shifted sentiment negatively, spurring a 280-pip drop from near weekly highs from 1.2630s to below 1.2350. At …

The USD/JPY pair rose further climbing above the level it had before the FOMC meeting. It is testing the weekly high near 130.40 after rising from than 150 pips from the daily lows boosted by higher US yields.The selloff in Treasuries resumed after a two-day pause and the day after …

Olli Rehn, one of the European Central Bank’s officials spoke out in favor of an interest-rate increase in July, suggesting a growing shift on the Governing Council toward such a move. The governor of the Finnish central bank is one of more dovish policy makers and member of the ECB’s …

The Bank of England on Thursday raised interest rates by 25 bps to 1.0%. Six of the bank’s nine rate-setters supported the 25 bps hike, though three wanted a larger 50 bps move. The rate hike was in line with expectations, but the vote split was more hawkish than expected, …

Turkey’s annual inflation rate jumped to 69.97 percent in April, exceeding expectations and constituting the highest inflation level in two decades, data showed on Thursday, driven by the Russian-Ukrainian conflict and the rise in commodity prices after the lira collapsed late last year. The Turkish Statistical Institute said consumer prices …