Forex Market

Forecaster says $120 oil triggers its pessimistic scenario. Weaker growth would blow Treasury’s budget off track. Great Britain is heading for a recession in the second half of 2022 if energy prices remain at current levels, according to the National Institute of Economic and Social Research.The research group said UK …

As western companies continue to make decisions whether to suspend operations or withdraw from Russia due to its invasion of Ukraine, China has become a possible Plan B.Russian banks that include Sberbank, the country’s largest bank by assets, and Alfa Bank said that they are exploring the possibility of issuing …

The USD/CAD turned to the upside during the American session and printed a fresh daily high at 1.2772. Earlier it bottomed at 1.2683. The pair rose almost a hundred pips as the US dollar gained momentum amid a reversal in commodity prices.Risk aversion continues to dominate the mood across financial …

Gold Price retreats from a fresh multi-month high and filled the weekly opening gap. As the US braces for Russian oil import ban even without allies, UK Defense Chief hints at further violence in Kyiv. Gold price bounced from an intraday low of $1,960.95, quickly recovering roughly $15 per troy …

On Monday, gold prices crossed the $2,000 mark for the first time in a year and a half as investors sought that safe haven in the wake of the escalating Russia-Ukraine crisis while fears of a halt in palladium supplies pushed to an all-time high. And gold rose in spot …

The forex markets ended the week’s trading negatively, especially after Russia bombed one of the largest nuclear power plants in Ukraine. The US dollar ended the trading on significant gains, taking advantage of the war in Ukraine, in addition to the speech of Jerome Powell, Chairman of the Board of …

The US dollar has benefited from two main things ; firstly, it is looked upon as a safe-haven currency, meaning this week’s choppy equity market conditions weighed on GBP/USD. Secondly, though the BoE does have a head start versus the Fed having kicked off its hiking cycle at the end …

Economies of the the United States and other Western nations have deployed a set of potent financial weapons against Russia with remarkable speed aiming at crippling the Russian economy. Cutting off access to global financial markets and to Russia’s war chest of foreign-exchange reserves has dealt Russia’s economy a crippling …

On Friday, the USD/JPY retreats at around 115.80 to weekly lows, negating the chart pattern late in the New York session. At 114.85, the USD/JPY reflects the risk-off market mood due to increasing tensions on the Russia-Ukraine conflict.Global equity indexes recorded losses on a busy day on Friday. The USD …

In a buoyant sign for the US economy, businesses stepped up their hiring last month as Omicron faded and more Americans ventured out to spend at restaurants, shops and hotels despite surging inflation.Employers added a robust 678,000 jobs in February, the largest monthly total since July, the Labor Department reported …