Forex Market

The XAU/USD Index has advanced by 0.09% as the last trading week of the year kicks in. The market sentiment is mixed, as a result of Omicron fears and transmissibility, despite being less dull.The weekly chart depicts a neutral bias, though a descending triangle has formed, threatening of pushing prices …

The EUR/USD pair has remained on the defensive heading into the early North American session, and rather has managed to hold its neck above the 1.1300 round-figure mark.Having failed to make it through the 1.1340-50 resistance zone on Friday, the EUR/USD pair witnessed a subdued price action on the first …

Gold prices fell in weak trading on Monday, with the dollar rebounding, although it is still hovering near its highest levels in a week, with increased demand for safe havens due to concerns linked to the pivot omicron. And gold fell in spot transactions 0.1% to $ 1806.60 an ounce, …

The Turkish lira fell after record highs over five days, disregarding the messages of reassurance from the government. The currency fell 6.2% to 11.3399 per dollar, on a weak trading day, and since the beginning of the year, the lira has lost 34% of its value, which is the largest …

Gold prices stabilized on Monday above the key level of 1,800 dollars an ounce, while a slight decline in US Treasury yields was offset by a rise in the dollar. Spot gold rose 0.1% to $1,809.95 an ounce and has mostly remained above $1,800 since closing above that level for …

The financial markets closed the trading week ending on December 24, with the progress of risk assets, led by global stocks, over the rest of the safe-haven assets, led by the US dollar. Over that week, the main drivers of the markets were the economic data and positive developments regarding …

Gold rose for the second successive week and finished slightly below $1810 after rebounding from $1783. It was unable to hit fresh monthly highs.The precious metal continued to improve its outlook, with a close above the 55-week simple moving average. The upside continues to face resistance around $1810/15. A break …

Over the course of a year, consumer prices rose by 5.7%, the fastest surge of inflation seen in decades. Now, the omicron variant of COVID-19 is threatening any progress the country’s economy has made.In the late 1970s when inflation surged to 7, 8, 9, up to 11%, it was a …

The shared currency losses against the US dollar but remains above the 1.1300 figure. EUR/USD price is barely down late in the European session, trading at 1.1318. As US markets as a whole remain closed on Christmas eve, the market sentiment is positive. On Friday, the US dollar benefits from …

China’s finance ministry has announced on Friday that they will be extending tariff exemptions on some imported goods from the United States until June 30, 2022. There was no immediate market reaction to this news as trading conditions remain thin on Christmas Eve. From January 2020 through November 2021, China’s …