Forex Market

WTI crude oil continues to trade near $100 as market participants weigh European energy security developments versus China demand/global growth fears.The latest US inventory figures gave WTI some short-lived upside with the US SPR falling to its lowest since 2002. After posting a solid recovery on Tuesday following Monday’s brief …

USD/CAD has continued to rally despite what some might perceive to be overextended conditions. The question traders are asking at the moment is whether this is now the top.The US dollar is on fire due to fundamentals yet commodities could be on the verge of a move higher which would …

Gold prices failed to hold above $1900 on Wednesday and hit their lowest level since late February in the $1880s. An improvement in risk appetite, rebound in US yields and strength in the US dollar all weighed. Now that key $1890 support has been broken, gold bears are eyeing support …

The EUR/USD pair extended its free fall, which accelerated on April 22 after closing around 1.0831. The pair has since plunged more than 400 pips, hitting a fresh 5-year low around 1.0514 on Wednesday. At 1.0564, the EUR/USD recovered some ground, aiming to finish the day with losses for the …

On Thursday, the first estimate of US GDP growth will be released. Analysts at Wells Fargo, expect a 0.6% annualized growth rate. They point out that although the economy does not appear on the cusp of another downturn, the probability of a recession next year is not insignificant. Key Quotes: …

The Bank of Japan will hold its policy meeting on Thursday, April 28 at 03:00 GMT and as we get closer to the release time, here are the expectations forecast by the economists and researchers of six major banks.The BoJ is unlikely to announce any changes to its monetary policy …

At 12:58 GMT, the US dollar index rose to 103.05, its highest level since January 2017. The dollar’s ​​rise comes with the euro also falling to its lowest level in 5 years, due to the difference in monetary policy between the two regions, while the market is waiting for the …

Gold prices fell on Wednesday as the dollar rose to its highest level in more than two years to pressure demand for the precious metal, which is denominated in the US currency. And gold fell in spot transactions 0.6 percent to $ 1893.70 an ounce by 0809 GMT. And US …

Japan’s Nikkei closed at its lowest level in two weeks on Wednesday, tracking Wall Street’s drop overnight, on fears of a global economic slowdown and the impact of the COVID-19 shutdown in China on domestic corporate results. The Nikkei index fell by 1.17 percent to close at 26,386.63 points, its …

Forex trade was again dominated by risk-off on Tuesday, with the safe-haven yen and US dollar’s outperforming, as US equities cratered. Investors and traders cited everything from economic and military tensions between Russia and the NATO to China lockdown risk and worsening global growth expectations in addition to the anticipated …