Forex Market

A handful of bearish factors are driving oil prices lower, with both WTI and Brent set for a third successive weekly loss.While crude prices have been relatively range-bound recently, hovering within the $80-85 per barrel range, they are expected to suffer their third weekly decline in a row. Yet, beyond …

Mohamed El-Erian, chief economic adviser at Allianz SE, criticized the Federal Reserve’s long-standing narrative of transitory inflation on Friday following data that revealed prices are rising at the fastest rate since 1990.“There are lots of structural changes going on in the post-pandemic economy … you can’t simply dismiss them as …

Higher inflation does not affect all households equally, with people on fixed incomes taking a bigger hit, New York Federal Reserve Bank President John Williams said Friday.

EUR/USD hardly declines during Friday’s session, consolidating around 1.1446, down by 0.01%. The Euro has failed to gain traction against the American currency, which has maintained same demand level during the Asian and the European session, with limited gain as the New York session begins.The Euro’s downfall has extended for …

Leaders of the Asia-Pacific Economic Cooperation (APEC) forum vowed on Friday to address economic recovery in the region by shoring up supply chains.The summit is tackling labour issues and continuing to respond to the COVID-19 pandemic. The summit is held amid heightened U.S.-China tensions.Biden and Xi expected to meet virtually …

USD/CHF tends to end Friday’s session flat slightly gaining at 0.9200 level. The pair had at one point been nearly as high as 0.9240, but a sharp, surprise worsening in Consumer Confidence in November according to the University of Michigan’s Index that pushed the pair from highs and back towards …

The USD/CAD pair is currently trying to hold below the support at 1.2550 while the U.S. dollar is losing some strength because of inflation and the retreat of customer sentiment.The U.S Dollar Index is stuck in the range between the support at 95 and the resistance at 95.20. In case …

XAU/USD prices have recovered back to trading flat on the day, having at one point prior to the U. S. open been trading with losses of nearly 1.0%. Gold appeared to find good demand at $1850 as gold bulls and those seeking inflation protection bought the dip.As Fed encounters pressure …

Gold against the EUR is trying to extend its weekly uptrend for seven successive days, trading at €1,627 during the New York session.Early in the Asian session, the precious metal retreated to give back some of its weekly gains, as bears pushed gold towards the 50-simple moving average on the …

U.S. consumer sentiment fell in early November to the lowest level in 10 years as surging inflation cut into households’ living standards, with few believing policymakers are taking sufficient steps to mitigate the accelerating inflation.The University of Michigan’s Consumer Sentiment Index dropped to 66.8 in its preliminary November reading, released …