Forex Market

Gold prices settled near one-week lows on Tuesday as investors expected central banks’ plans to tighten monetary policy to keep interest rates high for an extended period, which in turn would raise US bond yields and the dollar. The price of gold did not witness little change in spot trading, …

Japan’s Nikkei gave up most of its gains to close flat on Tuesday, as worries about inflation and higher interest rates in the United States outweighed the rise of automakers and energy-related stocks. The index rose 0.1 percent to 27,943.95 points, after exceeding 28,000 points for the first time since …

The Turkish lira fell 0.4 percent against the dollar on Tuesday, amid fears of rising inflation due to President Recep Tayyip Erdogan’s pledge to keep cutting interest rates. In a speech on Monday evening, Erdogan sought to downplay the rise in annual consumer prices to 73 percent last month as …

The market sentiment dramatically changed from optimism during Asian trading session into pessimism during the US session. The early positive mood was on the back of hopes that the global economic situation would start improving after Beijing continued easing coronavirus-linked restrictions.The sentiment deteriorated after the bell on Wall Street, as …

For now, UK’s Boris Johnson is in office, but there are several questions over his leadership on a poor outcome in the vote. The British pound found buyers at a 61.8% ratio as the UK PMs survived political Monday’s parliamentary confidence vote.At 1.2530, GBP/USD is starting out resting at hourly …

UK prime minister, beset by a scandal over lockdown parties, faces a decisive vote on Monday evening London time. Conservative parliamentarians have handed out to the PM Boris Johnson a potentially lethal blow to his leadership as they have triggered a no-confidence vote which could force him from his position …

Gold price sharply pulled back during the US trading session as a reaction to the stronger US dollar and the jump of higher Treasury yields. The precious metal’s price slid to $1841, retreating to its lowest level since Wednesday.The Gold Index recorded a daily high after the beginning of the …

The Reserve Bank of Australia will have its June monetary policy meeting on Tuesday and is expected to hike the cash rate for a second consecutive month. In May, the RBA decided to raise the benchmark by 0.25% for the first time in over ten years.Observers and market participants argue …

Analysts at Wells Fargo expect a more extended series of 50 basis points interest rate increases from the Bank of Canada in July, September and October meetings. They see risks tilted towards a stronger Canadian dollar than their existing USD/CAD exchange rate target of 1.2500.Key Quotes: “The solid growth and …

Gold prices rose slightly on Monday, supported by a slight decline in the US dollar and US Treasury bond yields, but the outlook for the yellow metal price remained fragile in the face of interest rate hike prospects from major central banks. Spot gold rose 0.2 percent to $1,854.83 an …