Forex Market

Gold price is under pressure on Wednesday but contained within a familiar range as it continues to trade sideways on the daily chart. Gold is trading at $1,922.10, XAU/USD; down by 0.06% and has travelled between a $1,933.58 high and a $1,915.08 low. Gold price is firming up in what …

The commodity currencies were the hardest hit immediately after the release of the Federal Open Market Committee minutes. USD/CAD rallied after a knee-jerk blip to the downside and reached a high of 1.25558. Simultaneously, in another blow to CAD, WTI futures settled at the lowest level in around a month. …

The US Federal Reserve unveiled the Minutes of its latest meeting, which reminded market players of the aggressive stance of the central bank. Policymakers are determined to move the monetary policy to neutral “expeditiously.” Additionally, the statement reads: “participants also noted that depending on economic and financial developments, a move …

The gold price is under pressure on Wednesday but contained within a familiar range as it continues to trade sideways on the daily chart. At the time of writing, at $1,922.10, XAU/USD is down 0.06% and has travelled between a high of $1,933.58 and a low of $1,915.08. The US …

According to the minutes of the March FOMC meeting, participants judged that it would be appropriate to move the stance of monetary policy towards a neutral posture expeditiously, reported Reuters. Balance Sheet Reduction“On balance sheet reduction, participants generally agreed monthly caps of about $60B for Treasury securities, $35B for mortgage-backed …

Philadelphia Fed President and FOMC member Patrick Harker said on Wednesday that he does not see high inflation going away any time soon and that high gasoline prices will be here for some time, reported Reuters. Harker said he doesn’t expect food prices to come down any time soon. Harker …

This year’s unprecedented global bond rout accelerated after US Fed’s Lael Brainard said the US central bank will likely step up policy tightening by swiftly reducing its massive debt holdings.The prospect of aggressive Fed action drove the yield on benchmark 10-year Treasuries up five basis points to 2.60%, propelling it …

The EUR/USD pair regains the 1.0900 barrier and beyond after bottoming out in the 1.0870 region on Wednesday.Considering the ongoing price action, further decline remains expected for the pair in the short-term horizon. Against that, a drop below the so far weekly low at 1.0875 (April 6) should put a …

Credit rating agency Standard & Poor’s Global said in a report that global sovereign borrowing will reach $10.4 trillion in 2022, about a third more than the average before the coronavirus pandemic.

The US dollar is the most prominent winner on Tuesday, firmly up against all of major rival currencies. Diminishing chances of a diplomatic solution to the Russia-Ukraine conflict and central banks’ aggressiveness were behind the market’s movements during the US trading session.Economic DataUS Institute for Supply Management (ISM) has unfolded …