Forex Market

The European Commission said Thursday that its measurement index of consumer confidence in the Eurozone declined to minus 4.8 in October from minus 4.0 in September. Economists polled by The Wall Street Journal had forecast a reading of minus 5.0. The fresh reading comes amid rising inflation and economic recovery …

New Zealand Prime Minister Jacinda Ardern announced today, Thursday, that her country has signed a historic Free Trade Agreement (FTA) with Britain, adding that the free trade agreement will boost New Zealand’s gross domestic product by about one billion New Zealand dollars, through the unprecedented access of New Zealand products …

The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it lowered its policy (one-week repo) rate by 200 basis points to 16% from 18%. The market expectation was a rate cut of 100 basis points to 17%. “Tight policy started to have a higher than envisaged …

Gold prices rose for a third consecutive session on Thursday as a weaker dollar lifted the allure of bullion, while investors assessed whether rising inflation would prompt central banks to raise interest rates sooner than expected. Spot gold rose 0.1 percent to $1,782.70 an ounce, and US gold futures rose …

The U. S. session witnessed no significant developments in terms of economic data. Positive corporate earning posts continued to back Wall Street and benchmark indexes.Wall Street cheered solid earnings from several health care companies. Abbott Laboratories for medical devices and drugs rose 3.6% beating Q3 estimates. Health insurer Anthem rose …

Bloomberg has said that bets on rising U.S. yields “are adding to pressure on interest rates in the short term funding market”, where corporate cash holders make overnight loans by Treasury securities as guarantee.Yields on two-year notes tipped 0.44% this week, the highest level in a year, while investors still …

Francisco Blanch, Bank of America head of global commodities and derivatives research, told CNBC in a discussion on how much the energy sector is playing into the inflation story, why prices are elevated and how prices will look this holiday season.Blanch pointed out that surging energy prices in oil and …

62 percent of Americans hold Joe Biden as responsible for increasing inflation and believe the country is economically on the wrong track.A new poll released Wednesday said that Biden’s policies are responsible for inflation, which has hit its highest rate in 13 years.Morning Consult/Politico poll found that 18 percent believe …

EUR/USD erased daily losses amid a decline of the dollar. EUR/USD pair is modestly rising after a rebound from 1.1615. During the American session, the pair climbed to 1.1651, slightly below the registered daily highs. On Wednesday, the U. S. dollar fell across the board amid risk appetite across financial …

China’s power crisis has already impacted the domestic economy and raised concerns about winter’s cold weather which has started early in some provincesThermal coal futures have surged but senior officials keep promising to increase coal production and push energy prices lower. Beijing has stepped up its control over the nation’s …