Forex Market

At 1.3490, the GBP/USD pair is trading near to the highs of Wednesday’s US session. This move signals the pair’s ability to depart a 1.3396 a low to start climbing to a one-week high after data showed UK inflation surged to a 10-year high last month.The pound is significantly firmer …

USD/CAD practically touched fresh highs at 1.2610 on Wednesday. The pair could slightly eclipse last week’s 1.2604 high and has since dropped back from session extremes a little.Crude oil markets have encountered pressure in recent hours, with WTI and Brent both now down by more than $2.0 during US session …

The New York Federal Reserve took unprecedented action to stabilize the Treasury market after it was disrupted at the start of the pandemic.Offering a stark reminder that markets need to be strengthened to get prepared for the next big shock, New York Fed Bank President John Williams said on Wednesday.In …

President Joe Biden, Wednesday is planning to tour a General Motors plant in Detroit, Wednesday, as he continues to sell the benefits of the recently signed $1 trillion infrastructure law. Biden is expected to highlight $7.5 billion in the new law automobile technology.Biden on Wednesday will visit a General Motors …

According to acting Health Minister Jens Spahn, Wednesday, the current pandemic increased Germany’s economic dependency on China in many sectors.Spahn added that an open discussion is needed on how to reduce an over-reliance on Asia’s rising giant.“We have experienced and had to experience how dependent we have become on China,” …

U.S. Treasury yields briefly inched higher on Wednesday morning, following the October housing starts and building permits report.The yield on the benchmark 10-year Treasury note ticked up less than a basis point to 1.639% at 9:50. The yield on the 30-year Treasury bond edged 1.6 basis points higher to 2.036%. …

Gold prices rose on Wednesday, as concerns about inflation kept some investors wary, but the gains were limited by expectations that higher prices could prompt central banks to raise interest rates, which also lifted the dollar. And gold rose in spot transactions 0.6 percent to $ 1860.21 an ounce by …

The first virtual Chinese-US summit, Tuesday, shadowed the markets as investors eyed easing tensions between the two world’s biggest economies. US President Joe Biden said that he had a “good meeting” with Chinese counterpart Xi Jinping, in which the two leaders discussed tariff and economic competition among other issues after …

The British pound has a very busy week as traders digest employment data, Tuesday, inflation on Wednesday and retail sales on Friday.Economists expect 3.9% UK inflation for October, strengthening rate hike by BoE’s December meeting to suggest three scenarios:1. Within expectations: A reading between 3.6% to 4.4% meets estimates. In …

US President Joe Biden said on Tuesday that he had a good meeting with Chinese President Xi Jinping. Biden said that he and Xi have a lot to follow up on and that their aides would be working together on a range of issues. Biden added that he made clear …