Forex Market

The U.S. Dollar (USD) switched to losses on Wednesday, after rising earlier in the session against its peers, after the Bank of Canada (BoC) signaled a sooner than previously expected rate hike. Although the BoC held its key rate unchanged at 0.25%, it now expects to raise interest rates by …

The Bank of Canada (BoC) has decided to maintain its key interest rate unchanged at a record low of 0.25%, as the economy remains in need of support, according to the bank’s statement on Wednesday. Now the Canadian central bank expects to keep the current level of interest rates until …

The USD/JPY pair gained some strength to trade near a daily high of 108.54, as the US dollar took a breather after yesterday’s declines despite maintaining underlying weakness. USD/JPY needs to break 108.00 to continue the decline. The change in market sentiment appears to be linked to the earnings reporting …

Goldman Sachs is expecting the Euro (EUR) to continue to rise against the U.S. Dollar (USD), advising investors to go long on the European currency, according to a recent note. Following the report, the EUR/USD pair reached its highest level in about six weeks on Monday. The investment bank is …

The British Pound (GBP) is rising on Monday against the declining U.S. Dollar (USD), supported by improved expectations in the UK and the anticipation for upcoming economic data. The GBP/USD pair is trading higher for the day by 1.13% at 1.3988. The pair has exceeded its best level in over …

The U.S. Dollar (USD) continued to decline on Monday, starting the week in a downward trend as the risk appetite among investors continue to improve. The Dollar Index (DXY) that measures the greenback against six currencies is down by 0.43% at 91.16. Earlier today, the index fell as low as …

Japan’s TOPIX reversed direction to close lower on Monday, while the Nikkei was little changed on concerns about mounting COVID-19 infections, overshadowing gains in chip-related stocks. The broader TOPIX index fell 0.22% to close at 1956.56 points, while the Nikkei index trimmed its gains to close, up 0.01% to 29,685.37 …

The Turkish Central Bank banned the use of cryptocurrencies assets in the purchase of goods and services, pointing to potential “irreparable” damages and great risks in those transactions. In the legislation published in the Official Gazette early Friday, the Turkish central bank said that cryptocurrencies and other digital assets based …

Japanese shares closed slightly higher on Friday as chip heavyweight stocks rose, but concerns about corporate expectations dampened gains. The Nikkei index rose 0.14% to 29,683.37 points, while the broader Topix index rose 0.09% to close at 1960.87. Chip-related shares gained after the Taiwan semiconductor maker reported a 19.4% increase …

Goldman Sachs expects that the Turkish central bank might move to cut its key rate during the fourth quarter of the year. The Central Bank of Turkey decided to maintain interest rates unchanged on Thursday in the first Monetary Policy Committee (MPC) meeting under the new leadership, in a move …