Forex Market

Gold’s upside momentum has waned in recent trade, with prices trading near $1842 after bursting above resistance in the low $1830s and then subsequently $1840 for the first time in over two months. The speed of spot gold’s latest advances, especially between the $1830 to $1840 area, is suggestive of …

The GBP/USD pair is trading at 1.3627 and higher by 0.24% after rising from a low of 1.3585 to a high of 1.3648. Besides domestic drivers, the sterling has benefitted from a pullback in US yields and the US dollar. US Treasury yields are retreating from near two-year highs on …

In their yields outlook analysis, economists at Danske Bank point out that while a European Central Bank rate hike in 2022 is not their baseline scenario, they expect markets to increase price rate hikes in 2023 and 2024. They expect the 10Y US Treasury yields to hit 2.25% in 2022 …

Data released on Wednesday showed the Canadian CPI rose in December to 4.8% (annual), the highest level since 1991. Core inflation will likely continue to run around 2.3% and 3%. They see the Bank of Canada raising rates five times during 2022 according to analysts at the National Bank of …

Bank of England Governor Andrew Bailey, who is currently testifying before the UK Parliament’s Treasury Select Committee, said on Wednesday that regional agents are seeing some evidence of second-round inflation effects. Additional Quotes:“Since November, financial markets have pushed back when they expect energy prices to fall.”“Tension on the Ukrainian border …

Gold prices rose on Wednesday, but moves were limited as markets looked ahead to the upcoming Federal Reserve meeting as it is widely expected to raise interest rates in an attempt to contain rising inflation. Gold in spot transactions rose 0.2 percent to $ 1817.90 an ounce by 1217 GMT, …

“Boris Johnson is set to announce the lifting of ‘Plan B’ COVID restrictions on Wednesday as a plot to oust him by Tory MPs first elected in 2019 emerged.The news also mentioned UK Prime minister Johnson to have appeared forlorn in a television interview while apologizing for misjudgments ‘that I …

The US dollar has been the most prominent winner, and performed up against all major rival currencies. US Treasury yields soared to fresh highs with the yield on the 10-year note reaching 1.856% and that on the 2-year note surpassing 1%, and consequently impacting gold prices. At $1,813.56, gold is …

Several economists believe the cost of borrowing will increase several times this year. UK inflation is expected to rise to a 30-year high when December’s data are released on Wednesday as upward cost pressures are felt across the economy. Economists polled by Reuters forecast inflation to hit 5.2 per cent, …

USD/CAD has had a passive session on Tuesday, with the pair dropping back to trading just above its 200-day moving average at the 1.2500 level after briefly surpassing the 1.2550 mark midway through US trade. Surging crude oil prices that saw front-month WTI futures hit multi-year highs near the $86.00 …