Forex Market

The USD/CAD pair is witnessing some signs of exhaustion after a bulldoze upside move from the previous week’s low at 1.2458. The asset has been scaling higher as negative market sentiment has been underpinning the safe-haven assets. While exhaustion signals at monthly highs of 1.2830 could be tagged to a …

The USD/CHF pair has rallied for the third consecutive day and reached a 21-month high at 0.9626. However, as the Asian Pacific session begins, on Tuesday, the USD/CHF print modest losses of 0.06%, down from YTD highs, and is trading in the high 0.9610s.The market mood soared on the back …

Gold price was wavering in a minor range of $1,891.56-1,911.31 since Monday after an intense selloff had continued from Friday’s high at $1,955.71. The gold price is now stabilizing currently in a concise range but price action is favoring an extreme imbalance on the downside amid the rising US dollar …

Russian state-owned gas supplier Gazprom is to halt supplies going through Bulgaria and Poland into Europe as of Wednesday 27 April, Bloomberg reported on Tuesday, citing the Bulgarian Energy Ministry. This is a remarkable and major escalation in the standoff between Moscow and European nations over energy supplies and the …

AUD/JPY hit fresh monthly lows beneath the 91.00 level on Tuesday, the pair heavily weighed amid as a steep sell-off engulfed global equity markets with investors fretting about everything from China lockdown risk, economic and military tensions with Russia amid the ongoing Russo-Ukraine war, a worsening global growth outlook and …

The GBP/USD pair has dumped on Tuesday in widespread risk-off, breaking below 1.26 the figure in a fresh bear-cycle low for 2022. A number of risk-off factors are being built into the price, from lower growth forecasts for the global economy, China’s covid spread and the contagion risks associated with …

At the next FOMC meeting (May 3-4), the US central bank is expected to raise interest rates by 50 basis points. According to analysts at Wells Fargo, the first 50 bps rate hike in over 20 years and the start of balance sheet runoff shows that the Fed means business …

After dropping under 1.0700 during the Asian session, EUR/USD continues to press lower towards its 2020 lows in the 1.0630s. The pair continues to suffer as a result of expectations for Fed/ECB policy divergence, as well as Russo-Ukraine war risks.After dipping back under the 1.0700 level during Asia Pacific trading …

Gold prices rose on Tuesday as investors sought safe assets amid concerns about global growth and rising inflation, but bets on sharp US interest rate hikes kept the yellow metal close to its four-week low hit in the previous session. Spot gold rose 0.3 percent to $1,903.70 an ounce by …

Oil prices stabilized on Tuesday, after a sharp 4 percent drop in the previous session, after concerns about fuel demand in China were allayed by the central bank’s pledge to support the economy affected by Covid-19 restrictions. Brent crude futures rose 59 cents, or 0.58 percent, to $102.91 a barrel, …