Forex Market

The latest FOMC monetary policy meeting minutes, Wednesday, are expected to drive the USD demand and provide a fresh motivation to gold prices. Gold failed to maintain its intraday gains and turned lower for the fifth straight session as the stronger USD acted as a hindrance for the precious metal. …

The US 10-year yield has continued higher this week and is now very close to key support at 1.685/705%. A major base looks increasingly imminent. Economists at Credit Suisse look for a move above 2% into 2022.US 10-year Bond Yields are back pressuring key long-term support at 1.685/705% after medium …

The Turkish lira fell back to a new record low on Wednesday amid fears of high inflation and other economic repercussions, after it plunged 15 percent the previous day after President Recep Tayyip Erdogan defended recent interest rate cuts. The lira fell to 13.1500 against the dollar, before falling to …

Gold prices rose marginally on Wednesday, despite the strength of the US dollar and speculation that the Federal Reserve will raise interest rates soon, keeping the metal below $1800. Spot gold rose 0.3% to $1,794.96 an ounce by 02:39 GMT, after losing 1.4% on Tuesday to its lowest since November …

Wall Street major indices edged lower with the exception of Dow Jones Industrial that was the main winner of Tuesday’s US session. Higher US Treasury yields have impacted heavy-tech company earnings, spurring a selloff of tech stocks. Sector-wise, the main winners are energy, financials, and real-estate, rising 3.06%, 1.24%, and …

The Canadian dollar benefited from the rise in global oil prices, despite the Biden administration’s announcement to release 50 million barrels of US strategic oil reserves in an attempt to tame the sharp rises in fuel prices in the United States.The Canadian dollar rose, pushing the USD/CAD pair down, to …

The US dollar extended its gains, reaching fresh 2021 highs vs the EUR and the GBP. EUR/USD bottomed for the day at 1.1225, while GBP/USD fell to 1.3341. The sour tone of global indexes and higher government bond yields fueled demand for the safe-haven dollar.Bank of England governor Andrew Bailey …

Canadians high household debt levels are becoming a persistent concern despite the massive fiscal support offered by the federal government during the COVID-19 pandemic according to statements by a senior Bank of Canada official, Tuesday.Deputy Governor Paul Beaudry said the prevalence of highly indebted households, which are defined as those …

On Tuesday, the EUR/USD pair is slightly up by 0.14% after moving from a 1.1226 low and reaching as high as 1.1275. However, not much more can be expected on a day where markets are subdued ahead of the Thanksgiving Day holiday Thursday in the US and key data Wednesday. …

Output growth across manufacturing and services measured by the PMI surveys came in slightly faster than expected in November.Solid service sector growth that far exceeded the pre-pandemic long-run average contrasted with only modest production growth in the manufacturing sector.Employment rose for the ninth successive month in November, according to the …