Forex Market

According to the Federal Reserve Bank of Atlanta’s GDPNow model, the US economy is expected to contract by 1.2% in the second quarter, up from the July 19 forecast of -1.6%. The US Dollar Index stays flat on the day near 107.20 after this report.After recent releases from the US …

Most economists expect the Fed to hike rates by 75 bps once again. Fed Chair Jerome Powell’s message on accepting pain to pin down inflation is expected to give a push to the US dollar. The American central bank is set to hike interest rates by 75 basis points for …

Pending Home Sales in the US sharply fell in June. The monthly data published by the National Association of Realtors showed on Wednesday that Pending Home Sales declined by 8.6% on a monthly basis in June following May’s growth of 0.4%. This reading came in much worse than the market …

Russian Deputy Foreign Minister Andrei Rudenko said a Turkish-brokered agreement allowing the resumption of Ukrainian grain exports from ports on the Black Sea could collapse if obstacles to Russian agricultural exports are not removed immediately. The Interfax news agency quoted Rudenko as saying that grain shipments from Ukraine would begin …

a large amount of speculative interest was paying attention to US bond yields. The yield curve is the most inverted since 2000. 2-year Treasuries are yielding 3.03%, while the 10-year note yields 2.76%. An inverted curve is usually a sign of an upcoming recession. Economic Data Home purchases, in the …

The Gold Index is displaying back and forth moves in a narrow range of $1,713.92-1,721.97 as investors are awaiting the announcement of the fourth consecutive interest rate decision by the Fed. The precious metal has displayed a complete volatility contraction, which indicates that now the monetary policy announcement is the …

The European Central Bank’s Pablo Hernández de Cos said that there are risks to the Eurozone inflation outlook that remain on the upside and have intensified, ‘particularly in short term’.de Cos has stated that the risks include lasting deterioration of the economy in the Eurozone, and persistently high energy and …

Conference Board’s consumer confidence indicators dropped in July for the third consecutive month. According to analysts at Wells Fargo, point out high inflation, rising interest rates and volatile financial markets weighed on consumer confidence. Key Quotes: “Most data in the July confidence report moved in the wrong direction. While lower …

Sellers returned to the Euro and dragged EUR/USD to multi-session lows in the vicinity of 1.0100 on Tuesday. The EUR/USD rapidly abandoned the area around 1.0250 to retreated nearly 15 cents after EU countries decided to reduce the gas consumption in the next winter, all following the decision by Russian …

Home purchases, in the United States, dropped 8.1% in June to an annualized 590,000 rate. The number of homes sold awaiting start is at the highest level since January 2022.Sales of new US homes fell for the fifth time this year in June to a more than two-year low. There …