Forex Market

The market’s sentiment continued cautious as traders’ focus shifted to central banks’ hawkish rhetoric and tensions between the US allies and Russia. The US widened its actions against Moscow, hitting Russian Sberbank and Alfa Bank. Investment in Russia by American companies is banned. The EU is backing a Russian coal …

The USD/CAD pair has witnessed a firmer upside move in the last three trading sessions, which is driving the pair nearer to 1.2600 after hitting 1.2403 low on Tuesday. The asset has managed to close above the 20-period Exponential Moving Average (EMA) on Thursday, which is trading at 1.2570 and …

Earning expectations for the big banks have been dialed back through the first quarter amid Russia sanctions and a steep decline in deal activity Big US banks are expected to reveal the impact of the Ukraine war and a drop in investment banking activity related to moribund capital markets when …

Atlanta Fed President Raphael Bostic said on Thursday that while it is fully appropriate that the Fed move policy closer to a neutral position, it should do so in a cautious way.It’s going to take longer than initially thought for supply chain issues to resolve, he added, noting that the …

The gold price is stuck within familiar ranges, bouncing around between a daily resistance and support channel. However, like a coil, the build-up of energy and maintained force could be about to set off an almighty breakout, one way or the other. The Gold Index, XAU/USD, is trading at $1,934.09, …

The Euro is almost flat in the North American session after reaching a daily high at 1.0938, courtesy of hawkish than expected European Central Bank (ECB) March meeting minutes, despite broad risk aversion in the market. Nevertheless, of late, the EUR/USD dipped below the 1.0900 mark and is trading at …

St Louis Fed President James Bullard on Thursday said that he would like to see the Federal Funds rate hit 3.5% in the second half of 2022, reported Reuters. Bullard said he would “lean into” a 50 bps rate hike at the May meeting, though he is watching the data. …

Russian oil and coal purchased in yuan will arrive in China soon. China and Russia are attempting to maintain energy trade even while other nations cut off Russian imports. In May, the first cargoes of Russian oil purchased in yuan will arrive at refiners in China. China is buying Russian …

Gold prices fell on Thursday as the dollar and bond yields rose after the US Federal Reserve reiterated its commitment to tightening monetary policy to tackle inflation, while uncertainty over the conflict in Ukraine limited bullion losses. And the price of gold fell in spot transactions by 0.2 percent to …

Inflation in the Eurozone is high and the European Central Bank may soon need to raise interest rates as a result according to statements by Bundesbank President Joachim Nagel on Wednesday.“What we are seeing at the moment suggests that savers may soon be able to look forward to higher interest …