Forex Market

The Ukrainian Government Commissioner for Public Debt Management, Yuri Potsa, said Thursday, July 21, that Kyiv is talking to major international financial institutions about ways to reduce debt payments soon. The comments came a day after Ukraine demanded its international creditors, including Western powers and the world’s largest investment firms, …

Gold prices fell on Thursday to their lowest levels in nearly a year, as prospects for an interest rate hike by major central banks to curb spiralling inflation weighed on the precious metal’s allure. Although gold is considered a hedge against inflation, higher interest rates increase the opportunity cost of …

All eyes focused on the ECB on Thursday, amid a series of events taking place in the European Union. The most relevant was the central bank’s monetary policy decision on hiking rates by 50 bps, the first hike in over 11 years, and the awaited move away from negative rates. …

The AUD/USD pair’s performance is flat in the first hour of Asian trade on Friday as it moves in on extremes of a broadening formation on the charts, but fundamentally, the stock markets on Wall Street and the softer US dollar have been a significant catalyst, so, the pair rallied …

Gold price falls back into the hands of the bulls following the ECB’s rate policy decision. The Gold Index is now at a critical stage in the bearish cycle where a significant correction could play out. Next week’s Fed meeting will be very important for rate and gold traders. Gold …

The USD/CHF pair is still upward biased, but in the short-term might aim towards 0.9600. the improved market sentiment dented demand for the US dollar, and constitutes a remarkable headwind for the asset.The USD/CHF slides for the second day in four retreats below 0.9700, amidst an improved market mood weighing …

The European Central Bank raised the key interest rates on Thursday for the first time in 11 years. Analysts at Danske Bank expect the central bank to hike another 100bp this year, before halting its cycle. They still prefer the idea of selling ECB-induced euro rallies.Key Quotes: “EUR/USD initially rallied …

The European Central Bank raised key interest rates on Thursday by 50 bps. The move was larger than expected. Analysts at Wells Fargo believe inflation remains elevated enough, and inflation risks worrisome enough, to continue with a more forceful pace of rate hikes for the time being. Key Quotes: “As …

The USD/CAD pair reversed and dropped back below 1.2900 during Thursday’s volatile session for financial markets following the European Central Bank meeting policy decision and US data.The rejection from above 1.2900/05 (horizontal levels, and 20 and 200 Simple Moving Average in four-hour chart) reinforced the bearish short-term bias. If USD/CAD …

Christine Lagarde, President of the European Central Bank (ECB), is delivering her remarks on the policy outlook and responding to questions following the bank’s decision to hike key rates by 50 basis points. “Energy costs should stabilise, bottlenecks ease.”“Wage growth has continued to increase gradually, including forward-looking indicator.”“Wage growth is …