Forex Market

The GBP/USD currency pair experienced a modest recovery on Friday, closing above the 1.2400 level. This move coincided with a generally risk-on sentiment in the market.While UK economic data releases, including macroeconomic and consumer credit figures, largely disappointed, their impact on market sentiment was minimal. Conversely, positive US ISM Manufacturing …

The US manufacturing sector exhibited signs of stabilization in December, as the Institute for Supply Management (ISM) Manufacturing PMI rose to 49.3, surpassing the expected reading of 48.4. While still in contraction territory (a reading below 50 indicates contraction), this slight improvement suggests a moderation in the pace of decline.However, …

The U.S. dollar remained close to a two-year high on Friday, despite a slight dip, driven by investor expectations that the growth gap between the U.S. and other economies will continue to widen. Meanwhile, Chinese blue chips experienced their largest weekly decline since 2022, adding to global economic concerns. Dollar …

Oil prices remained stable on Friday, with both Brent crude and U.S. West Texas Intermediate (WTI) poised for significant weekly gains. This momentum follows Thursday’s close, which marked the highest levels in over two months for both benchmarks, supported by colder weather in Europe and the U.S., as well as …

European markets closed the week on a cautious note, with the pan-European STOXX 600 index slipping 0.2% by 09:22 GMT. Despite the decline, the index remains poised for a 0.7% weekly gain, as light trading activity marked the return of investors from New Year holidays. In country-specific moves, Swiss stocks …

On the first day of trading in 2025, the US dollar surged to the top of the forex pile as wider markets continue to place a strong bet on the safe haven currency. In a world of unstable economic conditions, traders may not be the largest supporters of the US …

The USD/JPY currency pair surged towards its December high, driven by a confluence of factors. Expectations of a prolonged period of higher interest rates in the United States, fueled by the potential for a Trump presidency, underpinned the US Dollar. The Federal Reserve, in its December statement, signaled a more …

The Canadian Dollar (CAD) remained subdued against the US Dollar on Thursday, struggling to gain traction despite a modestly better-than-expected Manufacturing PMI reading. While the data provided a brief respite from the recent bearish trend, the Loonie remains vulnerable to further downside pressure amidst a broadly stronger US Dollar.The December …

The Euro experienced a significant decline on Thursday, falling below 1.0250 against the US Dollar. This marks the lowest level for the currency pair in two years, raising concerns about the Euro’s weakening trajectory.The decline follows the release of disappointing European Manufacturing Purchasing Managers’ Index (PMI) data. The PMI unexpectedly …

The British Pound Sterling (GBP) plummeted against the US Dollar (USD) on Thursday, hitting an eight-month low near 1.2440. At the time of writing, the GBP/USD pair is down -1.01%; trading at 1.238. This sharp decline was driven by a confluence of factors:Weakening UK Manufacturing: The final S&P Global/CIPS Manufacturing …