Market Update

UK Chancellor of the Exchequer (Finance Minister) Rishi Sunak will hold a major press conference on Thursday amid souring UK energy costs. The UK energy regulator Ofgem will announce the new energy price cap for April on Thursday morning, UK time. Sunak is expected to announce new financial support measures …

The EUR/USD pair has continued to trade well supported to the north territory of the 1.1300 level as the Euro remains positioned near the top of the daily G10 performance table, having been boosted by post-hot Eurozone inflation data hawkish ECB bets.While the pair had already broken above the key …

At 1.3570, GBP/USD is around 0.40% higher on the day as it tracks down the start of the New York sessions highs of 1.3587 again during midday trade. Sterling is climbing on Wednesday for the fourth session in a row, reaching a 1-1/2-week high against the dollar.Trader’s expectations that the …

Google owner Alphabet tops analysts’ forecasts but PayPal issues disappointing guidance. Alphabet followed fellow tech groups to post forecast-beating quarterly results.Wall Street stocks wavered on Wednesday as traders balanced strong earnings from Alphabet with downbeat guidance from fellow tech group PayPal, and a report indicated that US labour market conditions …

The Canadian dollar is flat on Wednesday, trading at 1.2685 in the North American session though Canada’s GDP outperformed in November, but the positive news was not enough to move the sleepy Canadian dollar. GDP expanded by 0.6%, above the consensus of 0.4%. The growth was broad-based across the economy …

The non-yielding precious metal is trading above $1805. The US ADP data was worse than expected; it could be a prelude to the Nonfarm Payrolls (NFP).The Gold Index (XAU/USD) climbs in the North American session as US T-bond yields led by the 10-year benchmark note fall three basis points, undermining …

The US national debt has crossed the $30 trillion mark for the first time amid pandemic-related government spending. This reading is the first time in history according to the Treasury Department.The federal government exceeded the troubling threshold following a wave of borrowing and spending during the COVID-19 pandemic.The national debt …

Only one day away from an awaited second successive BoE rate hike, the British pound has been trading on the front foot. The GBP/USD pair has recently surpassed its 21DMA at 1.3557 before running into resistance ahead of the 1.3600 level.At current levels in the 1.3560 territory, the pair trades …

Under strong pressures to act against surging inflation, the Bank of England looks ready to explain how it will reduce the vast pile of British government bonds it has bought over the last decade in repeated attempts to stimulate the economy.Most economists polled by Reuters think the BoE will on …

Markets are not expecting much from Thursday’s ECB meeting, but it could be positive for the EUR/USD. In December, the European Central Bank laid out plans for 2022, most notably ending the PEPP. The ECB is widely expected to leave its policy settings unchanged following the January policy meeting. In …