Market Update

In the days after Russia invaded Ukraine in February 2022 and the west imposed sanctions, Russia’s ruble collapsed. The number of rubles to one US dollar quickly fell from about 78 to 138, a huge move in the world of forex, and terrifying for those with their wealth in the …

The EUR/USD bears stay the course and continue to eye a test of 1.04 the figure. The US dollar has climbed to score fresh bull cycle highs ahead of the Fed. At 1.0448, the Euro is still trailing to the US dollar by some 0.65% despite the recent bid in …

As Wall Street collapses, and as the USD surges, high inflation might trigger an aggressive US Federal Reserve reaction in an attempt to bring inflation under control, despite increasing concerns about a US recession.The USD/CAD pair gained traction on Monday and extended its rally to three consecutive days, even though …

Republican Florida Senator Rick Scott on Monday released the latest TV advertisement targeting US President Joe Biden and promoting Scott’s “Rescue America” plan.“Joe Biden has destroyed America’s economy,” Scott says in the ad. “It’s time to be honest with the American people. Joe Biden is unfit for office and should …

The GBP/USD pair has suffered heavy losses at the beginning of the week. The pair closes in on 1.2200 after disappointing UK data. The US dollar is likely to preserve its strength amid hawkish Fed bets, risk aversion.The GBP/USD pair has extended its slide in the early European session on …

The AUD/USD cratered into the low-0.6900s on Monday, down over 1.5% on the day and over 4.0% lower in four days. The pair is being battered by risk-off flows as markets price a more hawkish Fed and potential recession. China lockdown fears are also hurting the pair, with bears eyeing …

Friday’s US hot inflation reading triggered a flight to safe-haven currencies like the greenback, and precious metals fell.The 2s-10s US Treasury yield curve inverted during the day as a recessionary scenario looms. The CME FedWatch Tool shows that the odds of a 75 bps increase in the June meeting lie …

Gold price is down $27 to $1843, a 1.5% drop. This slump comes after last week’s rise of more than $30 following the CPI report. Today, the market is waiting for the Fed announcement this week. If they decide to deliver higher than a 50 bps rate hike, which would …

The Bank of England will raise interest rates in June by only 25 basis points and continue in the same lane in future meetings despite soaring inflation, a Reuters poll of economists found. The recent poll showed that “all but one of 56 economists expected the BoE to deliver a …

The price of the dollar, which is considered a safe haven for value, rose towards its highest levels in 20 years against the major currencies on Monday, supported by fears of a global economic slowdown and the expectation of a large interest rate hike by the US Federal Reserve. The …