Forex Market

Gold, erasing yesterday’s gains touching 1767.27, is losing 0.31%. Gold is trading at $1,757.44 during the New York session.The XAU/USD price action in the last week has been dull. The yellow metal keeps trading within the $1,745 – $1,769 range, with no intention of going beyond the traditional territory.The market …

Bank of Canada Governor, Tiff Macklem, said Thursday that Canada’s high inflation rate is largely related to the unique circumstances of the Covid-19 pandemic, although there is a risk it could be more persistent than policy makers had expected.Speaking virtually before the Council on Foreign Relations, in Washington, Macklem said …

European Central Bank Chief Economist Philip Lane pushed back against warnings over accelerating inflation, saying there’s “very solid evidence” to believe that the current spike won’t last. “The red zone for everyone is if inflation became persistent at a number that’s immoderately above the inflation target,” Lane said on Thursday.“That’s …

The U.S. Senate on Thursday took a step to pass a $480 billion increase in Treasury Department borrowing authority, a move that would turn aside a catastrophic debt default later this month but setting the scene for another potential showdown in December.That vote, expected Saturday, could come sooner if all …

U. S. Senators have agreed to extend the debt ceiling, less than two weeks before it was due to be reached. There were fears that the U. S. would default on its national debt, with catastrophic financial implications.Senate Majority leader Chuck Schumer said Congress had reached a deal to extend …

U. S. Treasury Secretary Janet Yellen warned U. S. lawmakers that the federal government may run out of cash by 18 October, unless the US Congress suspends debt limits. Some politicians speculated that one potential way out is to mint a $1 trillion platinum coin and then deposit it with …

The U.S. Senate on Thursday took a step to pass a $480 billion increase in Treasury Department borrowing authority, a move that would turn aside a catastrophic debt default later this month but setting the scene for another potential showdown in December.That vote, expected Saturday, could come sooner if all …

The EUR/GBP fell to its lowest level in nearly two months during European trade, with analysts looking to extend the decline below the key psychological level of 0.8500. The pair maintained its bid tone on Thursday and is poised to extend the slide to the 200-day SMA above mid-0.8600 and …

A House Democrat on Wednesday called for a long term solution to the deadlock over avoiding a debt default later this month by taking away the debt ceiling authority from the Congress altogether to prevent parties from playing with political fire around the debt limit.Rep. Brendan Boyle along with House …

After reaching a daily low at 0.7225, the AUD/USD pair was able to trim some of its losses, stills down by 0.22%, is trading at 0.7275 during the New York session.Market sentiment struck the Asian and the European session amid surging energy prices and worldwide higher yields, these factors ignited …