Forex Market

The EUR/USD pair surged further during the US session and climbed to 1.0614, reaching the highest level in two weeks. The euro pulled back under 1.0600. It is holding onto daily gains, still unable to consolidate above 1.0600.Risk sentiment improvement weakened the US dollar. The Dollar Index is falling 0.25% …

The headline General Business Activity Index of the Federal Reserve Bank of Dallas’ Texas Manufacturing Survey plunged to -17.7 in June from -7.3 in May.The latest data missed the market expectation of -3.1 by a wide margin. The New Orders sub-index dropped to 3.3 from 19.8, the Prices Paid for …

The data published, on monthly basis, by the National Association of Realtors showed on Monday that Pending Home Sales rose by 0.7% in May following April’s decline of 4%. This data came in better than the market expectation for a contraction of 3.7%. Despite this monthly increase, Pending Home Sales …

Some Russian bondholders told Reuters they were not getting the $100 million interest they were supposed to receive after the day. For many bondholders, failure to pay on time amounts to a debt default. The Kremlin has repeatedly emphasized the idea that Russia will not default, but that sanctions against …

The Turkish lira jumped 6 percent against the dollar on Monday after Turkey moved to limit lira lending to many companies with more than $1 million in foreign currency cash, the latest move to stem the currency’s slide. The lira jumped to 16.099 against the dollar, after closing on Friday …

Gold prices rose on Monday as news that some Western countries are planning to formally ban imports of the metal from Russia due to its invasion of Ukraine sparked some interest in gold. And gold rose in spot transactions 0.5 percent to $ 1835.58 an ounce. US gold futures rose …

Today’s hot inflation could be likened to a speeding vehicle down a hill. In order to slow down, there would be a need to push the brakes. In this case, interest rate hikes are more of brakes in this situation, but some major central banks hit the brakes faster than …

The positive market sentiment discouraged USD/CHF sellers from confirming the double top chart pattern.The USD/CHF pair has fallen for the fifth successive day, though bounced off weekly lows reached during the day near 0.9521, towards the 0.9580s region. The pair is still shy of reclaiming the 0.9600 figure. At 0.9589, …

“We want to bring inflation down without crippling growth and stalling the labor market”, San Francisco Federal Reserve President Mary Daly, said on Friday. Daly is the latest US central bank monetary policymaker to signal that she is supporting another big increase in interest rates in July in an effort …

Gold continues for the second consecutive week with losses, down 0.64% despite climbing on Friday. Lower US 10-year T-yields and the weaker US dollar account for the latest advance. So far, the Gold Index bounces off weekly lows near $1816, recovering some ground in the week, reclaiming above the $1825 …