Forex Market

Bank of Canada Governor Tiff Macklem responded to questions from the press following the bank’s decision to raise the policy rate by 50 basis points to 3.75%.The USD/CAD pair continues to trade in negative territory following the press conference and was last seen losing 0.35% on the day at 1.3560.Key …

The European Central Bank will announce its decision on monetary policy on Thursday, October 27 at 12:15 GMT and as markets get closer to the release time, here are the expectations as forecast by the economists and researchers of 15 major banks.Economists broadly expect the ECB to raise borrowing costs …

Gold rose on Wednesday as the dollar and US Treasury yields fell amid expectations that the Federal Reserve may slow the pace of interest rate hikes. And gold rose in spot transactions 0.7 percent, recording 1663.26 dollars an ounce by 0644 GMT. US gold futures rose 0.6 percent to $1,667.10 …

British Prime Minister Rishi Sunak held his first cabinet meeting on Wednesday, a day after taking office with a promise to fix the previous government’s mistakes and stabilize the economy. High on Sunak’s agenda is preparing the financial market’s eagerly awaited financial statement, due out on October 31, but the …

European shares fell on Wednesday from their highest levels in a month, and technology stocks led the losses after disappointing results from major companies on Wall Street raised fears of slowing economic growth. The pan-European Stoxx 600 index was down 0.2 percent by 0719 GMT. In the previous session, the …

The US dollar gave up during the US session, finishing the day with losses against its major rival currencies. The EUR/USD pair trades near parity early Wednesday and ahead of important monetary policy announcements scheduled for next Thursday.Commodity-linked currencies benefited from higher US equities. AUD/USD flirts with 0.6500 while the …

The GBP/USD pair has gained over 1.7% and benefited from the US dollar’s decline on Tuesday. It is convenient to say that UK politics saved the day for sterling bulls. The pair is trading at 1.475Investors welcomed Rishi Sunak as the new UK prime minister where, in his first speech, …

The good old days when Rishi Sunak was finance minister are practically different from the days awaiting him as prime minister. The UK government seems under pressure to show how it will keep borrowing and how to restore Britain’s fiscal credibility in markets.With more than two years as finance minister …

The USD/CAD pair falls below its opening price by 0.57% as expectations and bets accelerate on Fed’s intention to slow the pace of policy and monetary tightening. These bets do weaken the US Dollar.Disappointing US housing data and consumer confidence deterioration also hurt the American dollar. Estimates refer to the …

On Tuesday, the brighter market sentiment hurt the USD, which lost ground against its main peers. The Australian dollar, on the other hand, abandoned previous weakness and surged nearly 100 pips in the early US Trading session, reaching above 0.6400. The AUD/USD pair appreciates 1.3% on the day, to erase …