Forex Market

Euro zone business activity suffered an unexpected and sharp downturn in November, as the region’s services sector joined manufacturing in contraction. HCOB’s composite Purchasing Managers’ Index (PMI) for the euro zone, compiled by S&P Global, plummeted to a 10-month low of 48.1, well below the 50 threshold that delineates expansion …

Market Focus Shifts to Japan and Global PMIsThe US Dollar continued its upward trend, reaching new 2024 highs. This was driven by a combination of factors, including a weakening risk appetite and ongoing geopolitical tensions.Key Events on Friday, November 22nd:• US: Flash S&P Global Manufacturing and Services PMIs, final Michigan …

The US Dollar traded flat on Thursday, hovering around 106.50 on the DXY index. This comes after New York Fed President John Williams suggested that inflation is cooling, potentially paving the way for a future interest rate cut.Key Market Movers:Jobless Claims: Weekly jobless claims came in lower than expected, but …

The Federal Reserve’s once straightforward path towards interest rate cuts has taken a more winding route. While expectations were high for multiple rate reductions in 2024, recent economic developments and policy shifts have led to a more cautious stance from the central bank. A Cautious ToneFed Chair Jerome Powell has …

In response to inflation that is reportedly approaching the Fed’s 2% objective, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee spoke to newswires on Thursday about the future pace of Fed rate decreases. Key QuotesInflation is on its way down to 2%.The labor market is close to stable, full …

The British pound edged lower against the dollar on Thursday, reflecting market caution as investors awaited clarity on President-elect Donald Trump’s Treasury Secretary pick and the implications for U.S. economic policies. Sterling fell 0.1% to $1.26405, struggling to maintain footing against a firming dollar. Dollar Gains Weigh on SterlingThe dollar’s …

Oil prices edged higher on Thursday as intensifying military exchanges between Russia and Ukraine overshadowed concerns over rising U.S. crude inventories. The geopolitical tensions bolstered market uncertainty, keeping prices elevated despite bearish supply data from the United States. Brent crude futures rose 1.3% to $73.77 per barrel by 10:17 GMT, …

Britain’s public finances faced mounting pressure in October as borrowing levels exceeded expectations, posing a significant challenge for Finance Minister Rachel Reeves. Official data from the Office for National Statistics (ONS) revealed that public sector net borrowing reached £17.4 billion ($22 billion) in October, well above the £12.3 billion forecast …

Gold prices continued their upward trajectory in Asian trade on Thursday, marking a fourth consecutive session of gains as escalating tensions between Russia and Ukraine spurred safe-haven demand. However, the precious metal’s recovery faced headwinds from a robust U.S. dollar and uncertainty surrounding Federal Reserve rate decisions. Spot gold rose …

US Dollar Strengthens as Market Reacts to Trump-Inspired Rally The US Dollar Index (DXY) rebounded on Thursday, November 21, approaching the 107.00 level as yields rose. This surge was fueled by renewed optimism stemming from Trump-related news.Key Economic Data and Fed SpeechesInvestors will be closely watching key economic indicators, including …