Forex Market

US Dollar Holds Steady Amidst Economic Data and Election SpeculationThe US Dollar Index (DXY) traded in a narrow range near the 104.30 level on Tuesday, as investors balanced expectations for key economic data releases with growing speculation ahead of the November 5 US election.Key Economic DataA series of important US …

US Dollar Pauses as Profit-Taking Sets In, Key Economic Data AwaitedThe US Dollar Index (DXY) retreated on Monday after a recent rally, as investors took profits ahead of a pivotal week for economic data releases. While the US economy continues to show signs of strength, concerns about potential interest rate …

Japanese stocks climbed on Monday as the yen plummeted to a three-month low. The shock result of Sunday’s parliamentary election, where Prime Minister Shigeru Ishiba’s coalition lost its majority, has injected uncertainty into Japan’s political and economic landscape.The ruling Liberal Democratic Party (LDP) and its junior partner Komeito secured 215 …

The upcoming October jobs report is poised to significantly influence the trajectory of the U.S. economy and financial markets. A robust employment figure could potentially delay the Federal Reserve’s plans to ease monetary policy through interest rate cuts. Such a development would ripple through various sectors, with small-cap stocks, particularly …

Gold, the timeless safe haven, has been on a dazzling run this year. However, recent market trends suggest a potential pause in its upward trajectory. As U.S. Treasury yields rise and the dollar strengthens, gold’s allure as a safe-haven asset may diminish.Tug-of-War Between Bulls and BearsThe Federal Reserve’s monetary policy …

China’s central bank, the People’s Bank of China (PBOC), has introduced a new lending tool to inject liquidity into the market and bolster the economy. This move comes as billions of yuan in medium-term loans are set to mature by the end of the year.The new tool, an open market …

European stock markets saw modest gains on Monday as easing tensions in the Middle East provided a positive backdrop at the start of a week loaded with key economic events. By 04:10 ET (08:10 GMT), Germany’s DAX rose 0.3%, France’s CAC 40 gained 0.5%, while the U.K.’s FTSE 100 slipped …

Gold prices slipped from recent highs in Asian markets on Monday as reduced fears of a broader Middle Eastern conflict softened safe-haven demand for the metal. Traders turned their attention toward the U.S. dollar, with rising demand spurred by upcoming U.S. elections and increased political uncertainty in Japan, where the …

Speaking on the sidelines at the 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) on Wednesday, European Central Bank (ECB) President Christine Lagarde noted that they need to be cautious when asked about market expectations for further rate reductions.“We need to be cautious …

In a move that aligned with market expectations, the Bank of Canada (BoC) today announced a significant 50-basis-point reduction in its key interest rate. The decision, which brings the policy rate down to 3.75%, was made at the central bank’s meeting on Wednesday.In its accompanying statement, the BoC indicated that …