Forex Market

Gold prices pushed higher during the North American session as the likelihood of a 50 basis point (bps) rate decrease by the Federal Reserve increased due to the US’s weaker-than-expected jobs statistics. In addition, the yield on US Treasury bonds decreased, which hurt the US dollar, which has an inverse …

The Federal Reserve’s latest Beige Book paints a picture of a sluggish US economy. Released on Wednesday, the report found that economic activity stagnated or even declined in most regions. While job losses were uncommon, businesses are being cautious. Hiring slowed, with some companies opting for shorter shifts, leaving positions …

The EUR/GBP exchange rate has seen a rebound from its recent lows, with technical indicators suggesting a potential improvement. However, mixed signals from the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicate that the overall outlook remains neutral. The pair is likely to continue trading sideways in …

In a further indication of a weakening labor market, the U.S. Department of Labor reported on Wednesday that job openings declined to their lowest level in three and a half years. The closely watched Job Openings and Labor Turnover Survey (JOLTS) revealed that available positions fell to 7.67 million in …

Bank of Canada Governor Tiff Macklem held a press conference following the central bank’s third consecutive 25-basis point rate cut. Inflation may rise later in 2024, with potential for stronger-than-expected upward pressures. However, the overall weakness in the Canadian economy continues to drive inflation down. Recent data indicate some downside …

U.S. oil futures edged higher on Wednesday, buoyed by expectations that OPEC+ may delay a planned output increase to support the market, which has been weighed down by concerns over sluggish demand growth. Oil Prices Climb As of 07:55 EST (11:55 GMT), West Texas Intermediate (WTI) crude oil futures rose …

Interviewed by Al Arabiya Head of Research and Development at Noor Capital and member of the US Association of Technical Analysts, Mohammed Hashad shed light on the most important developments and market movements, especially the American stock market, which is achieving remarkable gains. Host: For more on global markets, we’re …

European stocks opened sharply lower on Wednesday as concerns over a potential economic slowdown in the United States sent ripples through global markets. Investors also turned their focus to upcoming economic data from the euro zone, adding to the bearish sentiment. Market Overview By 07:10 GMT, the pan-European STOXX 600 …

Oil prices continued their downward trend on Wednesday, extending the more than 4% drop seen in the previous session. The market remains under pressure, hovering at its lowest levels since December, driven by expectations of a potential resolution to the political dispute in Libya that has halted oil exports, along …

The US dollar has gained momentum, reaching two-week highs against a backdrop of weakening risk-linked assets. This surge follows an inconclusive price action on Monday due to the Labor Day holiday. Dollar Strengthens Amidst Rising Recession Fears The US Dollar Index (DXY) has advanced further, approaching the crucial 102.00 level. …