Forex Market

Treasury yields were slightly higher Thursday as U.S. weekly jobless benefit claims fell with a reading of initial jobless claims for the week ended Oct. 16 which dropped by 6,000 to pandemic low of 290,000.Yields were drifting higher as weekly jobless claims showed companies shying away from layoffs amid the …

Australia’s Reserve Bank made a multibillion-dollar loss on its securities and foreign exchange transactions during last financial year as unrealised valuation losses. The RBA recorded a $4.3 billion accounting loss in the 2020-21 financial year. The RBA admitted higher interest rates could further hit its bottom line while beefing up …

Barclays reported better than expected Q3 profits on Thursday, following its Wall Street rivals in receiving a strong push from investment banking.The British bank reported Q3 profit of £1.45 billion vs expected £931.25 million. The figure marks a significant increase from the £611 million reported for Q3 last year.“For many …

The European Commission said Thursday that its measurement index of consumer confidence in the Eurozone declined to minus 4.8 in October from minus 4.0 in September. Economists polled by The Wall Street Journal had forecast a reading of minus 5.0. The fresh reading comes amid rising inflation and economic recovery …

New Zealand Prime Minister Jacinda Ardern announced today, Thursday, that her country has signed a historic Free Trade Agreement (FTA) with Britain, adding that the free trade agreement will boost New Zealand’s gross domestic product by about one billion New Zealand dollars, through the unprecedented access of New Zealand products …

The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it lowered its policy (one-week repo) rate by 200 basis points to 16% from 18%. The market expectation was a rate cut of 100 basis points to 17%. “Tight policy started to have a higher than envisaged …

Gold prices rose for a third consecutive session on Thursday as a weaker dollar lifted the allure of bullion, while investors assessed whether rising inflation would prompt central banks to raise interest rates sooner than expected. Spot gold rose 0.1 percent to $1,782.70 an ounce, and US gold futures rose …

The U. S. session witnessed no significant developments in terms of economic data. Positive corporate earning posts continued to back Wall Street and benchmark indexes.Wall Street cheered solid earnings from several health care companies. Abbott Laboratories for medical devices and drugs rose 3.6% beating Q3 estimates. Health insurer Anthem rose …

Bloomberg has said that bets on rising U.S. yields “are adding to pressure on interest rates in the short term funding market”, where corporate cash holders make overnight loans by Treasury securities as guarantee.Yields on two-year notes tipped 0.44% this week, the highest level in a year, while investors still …

Francisco Blanch, Bank of America head of global commodities and derivatives research, told CNBC in a discussion on how much the energy sector is playing into the inflation story, why prices are elevated and how prices will look this holiday season.Blanch pointed out that surging energy prices in oil and …