Forex Market

Gold tumbles to $1890 and then rebounds more than $20. Volatility is set to remain high amid news from Ukraine and sharp moves in the Treasury market. Bearish bias prevails in XUA/USD, more losses seen on a consolidation under $1900.Gold is having another volatile session on Tuesday. Price dropped sharply …

European Central Bank Governing Council member Bostjan Vasle on Tuesday said that an interest rate hike this year is feasible, reported newswires. It would be prudent for the ECB not to increase current uncertainties, he added, noting the important of monetary policy predictability. Markets did not immediately react to Vasle’s …

US job openings inched lower last month to retreat only modestly from a record high, and vacancies still far outpaced new hires as employers struggled to bring back more sidelined workers.Though vacancies decreased in the latest survey, the data have been volatile and have yet to show a sustainable trend …

Philadelphia Fed President and FOMC member Patrick Harker said on Tuesday that interest rate hikes are to be “deliberate” and “methodical”. Inflation is “far higher than … we are comfortable with” Harker said, caveating that “there are some signs in the data, and in what we hear from our contacts, …

As pointed out by Mohamed Hashad, Director of Research and Development Department at Noor Capital, in this morning’s report, The safe-haven yellow metal fell strongly after positive news regarding the progress of negotiations between Russia and Ukraine. As a result, the yellow metal gave up the levels of 1900 dollars …

The Russian Defense Ministry said on Tuesday that it would scale down military activity in Kyiv and Chernihiv in order to create conditions for dialogue, reported Reuters, correcting an earlier headline where they had claimed that Russia said it would “stop” military activity in the area. The Russian Defense Ministry …

Credit rating agency S&P Global cut its forecast for Russia’s 2022 GDP growth by more than 11 percentage points to a contraction of 8.5%, while slashing its forecasts for Poland and Turkey by more than a percentage point due to the fallout from the war in Ukraine. On its economic …

The gold price is down on the day, losing around 1.9% as the US stock market rises later in the day for a positive close in hopes of a breakthrough in peace talks surrounding the Ukraine crisis. The market mood was sour, helping the American dollar to end the day …

The USD/CAD pair has attracted significant offers at 1.2593, which seems a failed attempt to come out of the woods as the asset has remained vulnerable in the past few trading sessions.On the weekly scale, USD/CAD has been slipped below the ascending triangle formation. Usually, breaking below the ascending triangle …

The Australian dollar slumps from YTD highs around 0.7540 as market sentiment fluctuates as a result of developments concerning the Russia – Ukraine’s crisis, China’s Covid-19 outbreak, and higher inflation prompted global central banks to tighten monetary policy conditions. The AUD/USD pair is trading at 0.7492. The market mood turned …