Market Update

The EUR/USD pair is regaining some territory into the Wall Street close as the greenback continues to be faded, unable to break higher as traders start to move to the sidelines ahead of the Federal Reserve. In contrast to the expectations the Fed, however, the European Central Bank’s tightening expectations …

Wall Street’s main indexes rose on Tuesday, as investors picked up shares of financials and beaten-down Megacap companies, while staying cautious about the Federal Reserve’s ability to tame inflation without impeding growth.Nine of the 11 major S&P 500 sectors rose, with energy (.SPNY) and financials (.SPSY) up 2.7% and 1.7%, …

US stock indexes wobbled as investors geared up for the Federal Reserve’s policy decision this week and evaluated a batch of earnings.The S&P 500 was recently up 0.2%, a day after a late rally lifted stocks on Monday. The technology-focused Nasdaq Composite lost 0.2% while the Dow Jones Industrial Average …

At $1,871.10, the gold price is firmer on Tuesday, rising from a low of $1,850.47 to a high of $1,878.14 so far. The price has upheld the bid in synch with a slight retreat in US Treasury yields and the US dollar ahead of this week’s Federal Reserve went.The US …

European Central Bank member, Isabel Schnabel, told a German newspaper Handelsblatt on Tuesday that the ECB may need to raise interest rates as soon as July to stop high inflation from getting entrenched.EUR/USD is higher on the day by some 0.23% yet has not reacted to the comments, sticking to …

On Tuesday, the euro settled near a five-year low against the dollar, ahead of a speech by European Central Bank President Christine Lagarde. The dollar fell slightly from its highest level in 20 years against a basket of currencies before an expected hike in the US interest rate this week, …

Oil prices fell on Tuesday under pressure from China’s COVID-19 shutdown that could affect demand, but prices found support from a possible European oil embargo on Russia over its invasion of Ukraine. Beijing, which records dozens of new infections with the Coronavirus daily, is conducting mass examinations of the population …

The data published by Germany’s Federal Labour Office showed on Tuesday that the seasonally adjusted Unemployment Rate in April stayed unchanged at 5% in April, matching the market expectation.Further details of the publication revealed that the number of unemployed declined by 13,000 to 2.287 million, compared to analysts’ estimate for …

Italian Environmental Transformation Minister Roberto Cingolani said in an interview published on Tuesday that his country hopes to end its dependence on Russian gas in the second half of 2024. “We must achieve self-sufficiency by the second half of 2024. We can dispense with importing Russian gas,” Cingolani added to …

The Eurozone Unemployment Rate dropped to 6.8% vs. 6.7% expected and 6.9% reported in February, the latest data published by the Eurostat showed on Tuesday. The Producer Price Index (PPI) in the bloc rose to 5.3% MoM in March vs. 5% expected and 1.1% previous. On an annualized basis, the …