Forex Market

Global rating agency Fitch has downgraded Russia from ‘B’ to ‘C’, the second rating downgrade in a week, during Tuesday. The news may propel USD/RUB towards another record high, around 129.70.In addition to the rating cut, Fitch also mentioned, “The recent downgrade of a ‘C’ rating for Russia reflects belief …

PepsiCo Inc and Coca-Cola said on Tuesday they are suspending sales of their sodas in Russia, to be the latest addition to a long list of high-profile Western consumer brands to taper, suspend or curtail their operations in Russia in the aftermath pf following the invasion of Ukraine.Coca-Cola said its …

Gold prices are volatile on Tuesday as risk sentiment ebbs and flows surrounding the Ukraine crisis. The precious metal trades now at $2,052.70 per ounce. At $2,041 per ounce, gold prices are higher by 2.20% on the day despite a $50 per ounce drop in midday New York on the …

EUR/USD is trading near the highs of the day as markets hold higher hopes of a breakthrough in the dialogue between Russia and Ukraine. An interview between Ukraine’s president and ABC News from Monday night is being reported on in New York trade by AP News Service.The article has highlighted …

The AUD/USD pair slides for the second consecutive day, despite a vow of a risk-on market mood in the financial markets, spurred by an announcement of Ukraine not insisting on joining NATO. The AUD/USD is trading at 0.7280, still down 0.47%.Earlier in the day, the market mood was dismal, spurred …

In a remarkable development and a nod to Russia, Ukraine hints, on Tuesday, that the east Eropean nation is no longer insisting on NATO membership. Similar news headline is now prevailing world media outlets though was referring to an interview conducted on Monday. Ukraine’s aspirations to join NATO was a …

The precious metal continues to capitalize on safe-haven flows. Gold Price is currently trading at around $2,060 per ounce, overbought but without signs of technical exhaustion. The next relevant level to watch is $2,075.64, where it set a record high in August 2020, while beyond the level, market players will …

Risk aversion continues as the major market driver amid the Russian invasion of Ukraine. The attacks have continued throughout the weekend, and a third round of cesefire talks has not eased the situation. Economic DataThe Investor Movement Index® (IMXSM) decreased to 6.79 in February, down from 7.07 in January. The …

In an interview on Dubai TV, Mohammed Hashad, Director of Research and Development Department at Noor Capital and member of the US Association of Technical Analysts, tackled the latest developments in financial markets, particularly the most prominent one; namely the surging oil prices that touched record levels, he also commented …

Gold overnight hit a YTD high at $2002.67, but afterwards, retreated to January’s 2021 resistance level-turned-support around $1959.40. Just now, the XAU/USD Index is trading at $1996.21, reflecting the risk-aversion of the financial markets.The conflict between Russia-Ukraine has not eased amid the third round of ceasefire talks. Sanctions on Russia …