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Christine Lagarde, President of the European Central Bank (ECB), is scheduled to deliver her remarks on the monetary policy outlook at a press conference at 12:30 GMT.
Read More »ECB Press Conference: Lagarde speech live stream
ECB leaves rates unchanged at -0.50% as expected
On Thursday, the European Central Bank’s (ECB) governing council decided to keep its benchmark deposit rate at -0.50%, as unanimously expected by market participants. The bank also said that it intends to raise interest rates by 25 bps at the July meeting, after having ended its Asset Purchase Programme (APP) …
Read More »Russia: No agreement has been reached with Turkey on Ukrainian grain exports
The Kremlin said on Thursday that no agreement had been reached with Turkey on the export of Ukrainian grain shipments through the Black Sea. Kremlin spokesman Dmitry Peskov told reporters that work was continuing to reach an agreement. Turkey has been pressing for an agreement between Russia and Ukraine on …
Read More »European shares decline ahead of ECB statement
European shares fell on Thursday ahead of the European Central Bank meeting later on Thursday, as investors awaited indications of the bank’s plans to tighten monetary policy. The pan-European Stoxx 600 index was down 0.5% by 0709 GMT. The index is heading towards incurring losses for the third consecutive session. …
Read More »Gold Settles Under Pressure From High Bond Yields Ahead of US Data
Gold prices stabilized on Thursday as rising Treasury yields held them back before key data on jobs and inflation in the United States could influence the Federal Reserve’s roadmap to raise interest rates to combat inflation. And gold settled in spot transactions at $ 1853.24 an ounce by 0303 GMT, …
Read More »Japan’s Nikkei closed little changed after a volatile session
The Japanese Nikkei index ended trading on Thursday with little change after a volatile session, during which it lifted the index to its highest level in five months, before giving up those gains due to the decline in the shares of shipping companies and chip makers that wiped out the …
Read More »Market Drivers – US Session – Wednesday June 8
The US dollar suffered early in the US session as government bond yields temporarily dropped, later recovering some ground amid falling US equities. Most major currency pairs are holding on to familiar levels, except for the USD/JPY pair, which surged to a fresh 20-year high of 134.47. The imbalance between …
Read More »Oil leaps to 13-week high on rising gasoline demand
Crude oil prices jumped over 2% to a 13-week high on Wednesday as US demand for gasoline keeps rising despite record pump prices, while expectations that China’s oil demand will increase faced growing supply concerns in several countries, including Iran.Analysts have said a nuclear deal with Iran could add about …
Read More »UK Ponders Stricter Stance Towards Sanctions
The UK is considering stricter enforcement of the economic sanctions measures next week after passing a relevant legislation in the wake of Russia’s invasion of Ukraine.Starting June 15, the UK’s Office of Financial Sanctions Implementation will not have to seek evidence that companies or individuals who violate the country’s sanctions …
Read More »EUR/USD edges higher ahead of ECB meeting
As the market participants’ attention and focus turns to the ECB, at 1.0720, the EUR/USD pair is 0.2% higher on the day during the North American session. The pair’s price has moved upwards from the 1.0671 low to hit the 1.0748 high. However, trading decisions do take into account the …
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