Forex Market

The US dollar is on course to close the week slightly higher after a few days of volatility when it was hit by a shift in risk appetite, with the market now focused on the US Federal Reserve meeting next week. The dollar index rose 0.2% during the week and …

GBP/USD was struggling a little after the UK’s mixed retail sales figures and was trading close to daily lows, around 1.3700. GBP/USD was fairly unwavering after UK data, showing that Core Retail Sales rose 0.5% in June compared to 0.4% expected and -1.3% previously. On a yearly basis, UK retail …

UK Manufacturing PMI came in below estimates at 60.4 in July.The UK Services PMI fell to 57.8 in July, below expectations. UK IHS Markit/CIPS Manufacturing Purchasing Managers’ Index fell to 60.4 in July vs. 62.5 expected and the final June figure of 63.9. The UK Services Business Activity Index for …

The Euro (EUR) declined on Thursday against the U.S. Dollar (USD), after the European Central Bank (ECB) announced new monetary policy targets that suggest extending support for longer to ensure the Eurozone economic recovery while boosting inflation that has been low for nearly a decade. The EUR/USD pair declined by …

The U.S. Dollar (USD) rose on Thursday after data showed an increase in jobless claims in the United States. Last week’s data showed that the labor market is yet to recover and restore its pre-pandemic strength, which reflected negatively on investors’ risk appetite. The Dollar Index (DXY), which measures the …

The U.S. Dollar (USD) declined on Wednesday, dropping across the board, amid an improvement in the risk appetite among investors. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies is down by 0.24% at 92.75, after fluctuating throughout the day between 92.726 and …

The Turkish lira rose to its highest level in a month on Friday, buoyed by fading fears of an imminent interest rate cut as well as increasing optimism over emerging market currencies. The lira rose 0.6% to 8.5 per dollar, extending its recovery from a record low of 8.88 in …

The U.S. Dollar (USD) rose on Thursday, supported by the drop in weekly jobless claims and the testimony of the Federal Reserve Chair before Congress, in which expressed the central bank’s patience in dealing with the rising inflation. Unemployment benefits data showed that the labor market continues to show recovery …

A dovish tone by the Federal Reserve Chairman Jerome Powell, in his testimony before Congress, pushed the U.S. Dollar (USD) lower on Wednesday. Powell acknowledged progress in an economic recovery but said the economy remains far from achieving the substantial further progress needed to begin tapering asset purchases and then …

The Central Bank of the Republic of Turkey (CBRT) announced on Wednesday that it left its policy (one-week repo) rate unchanged at 19% as expected.