Forex Market

UK political Tory resignations are dropping like rain because of widespread feeling of incompetence on the part of the Prime Minister Boris Johnson. So far, the pound is holding up after the initial 12 pip move to the downside vs the US dollar. The first was the British Health Secretary …

Risk aversion continues to weigh on the GBP/USD pair. The pair fell to around 1.1897, the lowest level since March 2020. It remains under pressure around 1.1900. the pair seems unable to find support as markets generally fall.Fears about global recession and a worsening growth outlook in the United Kingdom …

The AUD/USD pair fell more than 100-pips during the day and probed the YTD low around 0.6763. The Australian dollar followed its fellow peers and is tanking to fresh two-year-lows amidst renewed concerns of a recession looming worldwide, amidst a high inflation scenario, bolstering the appetite for safe-haven peers in …

The EUR/USD pair collapsed to fresh twenty-year-lows, below the 1.0350 previous low printed on May 13, accelerating towards the 1.0250s region courtesy of a stronger US dollar. The pair loses almost 1.60% during the day.The US Dollar Index advances to twenty-year-highs, above the 106.500 mark, up almost 1.30%, on renewed …

The Turkish lira fell more than 1 percent against the dollar on Tuesday, giving up early last week’s gains, as investors evaluated data showing a new rise in inflation to a 24-year high. The lira was trading at 17.03 against the US currency by 1232 GMT, down from the previous …

At its July 5 monetary policy meeting, the Reserve Bank of Australia (RBA) board members decided to raise the official cash rate (OCR) by 50 basis points (bps) from 0.85% to 1.35%, as widely expected. A Reuters poll of 33 economists showed the RBA will increase its cash rate by …

Asian shares achieved shy gains, but European indexes maintained the green the territory with some difficulty, reflecting persistent growth and inflation concerns while Wall Street futures responded to such fears by edging lower.Financial markets witnessed a quiet start of the week, as US markets were closed commemorating the Independence Day …

The Reserve Bank of Australia is expected to decide an additional increase the national interest rate amid accelerating recession-linked concerns. The RBA will have July’s monetary policy meeting on Tuesday amid expectations of interest rate hike for the third successive time. RBA policymakers indicated that a 0.25 or a 0.5 …

Bitcoin price, despite latest improvement above $20k, has remained vulnerable to economic data particularly ahead of the awaited FOMC Minutes.BTC/USD currently consolidates between key technical support and resistance. Cryptocurrencies tend to benefit from the US holiday but most crypto assets are expected to encounter a relatively tough week ahead. After …

At $1,807.17, gold price is slightly retreating in the midday US session as markets are on holiday. Bond markets are closed on the occasion of the US Independence Day, but the US dollar has seen two-way price action which has both supported and sunk gold at the start of the …