Forex Market

The EUR/USD pair has snapped two straight weeks of gains, and now drops 0.42%. The common currency is trendless, within the boundaries of 1.0096-1.0278.From a daily chart perspective, the EUR/USD might probe the 1.0096 low before a re-test of YTD lows below the parity level. The EUR/USD slumps late as …

In its latest meeting, the Reserve Bank of Australia hiked the key interest rate by 50 basis points to 1.85%. According to analysts, the RBA will likely raise again in September but with a 25 bps rate hike. They see the rate peak at 3.10% by early next year.August’s announcement …

The GBP/USD pair prepares to finish the week with hefty losses of 0.78%. US labour data poured cold water on recession fears ahead of next week’s CPI. The GBP/USD tanks reached a fresh weekly low at 1.2002 as a reaction to a stellar US employment report which eases US recession …

The July US official employment report showed better-than-expected numbers and triggered a rally of the US dollar on Friday. According to analysts, at least a 50 bps rate hike at the September 20-21 FOMC meeting seems on the table at this point of time, and yet another 75 bps hike …

Last April, Elon Musk made a $44 billion offer to buy Twitter before he decided in July that he wanted to cancel the deal. On the other hand, Twitter said this does work works when one has already made a legally binding commitment. US courts now have the mission and …

The Unemployment Rate in Canada stayed unchanged at 4.9% in July. The USD/CAD pair posts strong daily gains above 1.2950 after the economic data.The Unemployment Rate in Canada was virtually unchanged at 4.9% in July, Statistics Canada reported on Friday. This reading came in slightly better than the market expectation …

Nonfarm Payrolls in the US rose by 528,000 in July, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading followed June’s increase of 398,000 (revised from 372,000) and came in better than the market expectation of 250,000. The Unemployment Rate edged lower to 3.5%. …

European shares stabilized on Friday as eyes turned to US jobs data expected later. Investors assessed the Bank of England’s biggest rate hike in 27 years amid growing fears of a recession. By 0705 GMT, the pan-European Stoxx 600 index settled, amid fears of slowing growth in the world’s largest …

The dollar fell against most of its major rival currencies, ending the trading day near its latest lows. This constitutes a sign of additional declines ahead in the near term.AUD/USD advanced and hovers around 0.6970, helped by gold, as the bright metal reached fresh one-month highs in the $1,790 price …

WTI crude oil holds lower ground near six-month bottom after declining for the last four days. Fears of economic slowdown, central bank aggression outweigh geopolitical woes linked to China, Russia. US jobs report for July as well as developments surrounding China will be important for fresh impulse. WTI crude oil …