Forex Market

US Vice President Kamala Harris defended the Build Back Better (BBB) stimulus plan during an interview on CBS’ “Face The Nation” TV show. Harris stressed inflation and coronavirus as major concerns and top priorities in 2022. “The United States must address the rising cost of consumer goods”, she added.Risk sentiment …

The USD/CAD pair has dropped to fresh three-week lows during the New York session, trading at 1.2677. The last trading day of the year has a relaxed market mood; despite that Asian equities closed in the green territories with significant gains.European stock indices like the CAC40 and the FTSE 100, …

The USD/TRY pair is set to end the week 20% higher, though the rally has stalled at resistance in the 13.50 area. Traders and investors remain skeptical as President Erdogan continues to push “new economic programme” despite surging inflation.The Turkish lira has lost more than 40% of its value versus …

Gold headed for its first decline in three years on Friday as the global economy recovered, reducing the appeal of safe havens as central banks prepared to raise interest rates to control inflation. And by 1035 GMT, gold in spot transactions rose 0.2 percent to $ 1817.57 an ounce, and …

Market participants, investors, traders and economists have been warning against reading too much any market moves this week given year-end volatility and illiquidity. Investors kicked off the penultimate trading day of a volatile year on Thursday with a duet of anodyne, slightly better-than-expected indicators.Economic DataThe number of US workers filing …

European Central Bank governing council member and Dutch central bank head Klaas Knot said on Thursday that the bank could end its bond-buying programmes sooner if inflation continues to surprise on the upside. Knot added that it is now appropriate for the bank to prepare for gradual monetary policy normalization …

Data from the Turkish Statistical Institute revealed on Thursday that the confidence index in the country’s economy fell 1.8 percent month-on-month in December to 97.6 points. The index, which indicates optimistic expectations when it exceeds 100 points and pessimistic expectations when it falls below that, hit a record low last …

The US Dollar Index closed the second straight day in the positive territory and continues to inch higher on Wednesday but markets are likely to remain quiet ahead of the New Year holiday.Omicron stands as a downside risk in the housing market. A reading of pending home sales also out …

The USD/CAD is trimming some of Wednesday’s losses, down by 0.05% as COVID-19 worries ease, as studies have shown that leads to milder symptoms that could be treated outside the hospital.The USD/CAD has fallen during the New York session, trading at 1.2809. Investors’ mood is mixed, as US equity indices …

US Inventories rose rapidly as businesses sought to stock up for the holiday shopping season. Container ships are anchored off the ports of Long Beach and Los Angeles to unload imported goods. The trade deficit in goods surged by 17.5% in November to set an all-time high, largely reflecting faster …