Market Update

The EUR/GBP pair continued its downward spiral, extending its losing streak and reaching a new yearly low. This ongoing bearish trend is supported by both technical indicators and fundamental factors.Fundamental FactorsEconomic Data: While specific economic data points for the eurozone and the UK have not been mentioned, it is likely …

Gold is +1.48 up during the US session on Friday, trading at USD 2,624.51. Gold prices have recently reached unprecedented heights, sparking renewed interest in the precious metal. While the exact reasons for this surge remain somewhat elusive, several key factors are likely contributing to the bullish sentiment. This analysis …

German automaker Mercedes-Benz has issued a profit warning, attributing the decline to a significant weakening of demand in the Chinese market. This announcement has caused a sharp drop in the company’s share price.The company has revised its full-year profit outlook downward, citing a “further deterioration” of Chinese consumer demand. The …

Oil prices slipped on Friday, yet they remained poised for a second consecutive weekly gain, buoyed by the Federal Reserve’s significant interest rate cut and shrinking global stockpiles. As of 10:04 GMT, Brent futures had declined by 50 cents (0.67%) to $74.38 a barrel, while U.S. WTI crude futures fell …

European stock markets edged lower on Friday, consolidating the previous session’s sharp gains as investors processed policy updates from several major central banks. At 03:05 ET (07:05 GMT), Germany’s DAX fell by 0.6%, France’s CAC 40 dropped 0.3%, and the U.K.’s FTSE 100 declined 0.5%. Central Banks in Focus After …

Bitcoin’s price surged to a three-week high on Friday, driven by improved risk appetite following the Federal Reserve’s significant interest rate cut. The world’s largest cryptocurrency gained momentum, rising in tandem with broader risk-driven markets like stocks. Other cryptocurrencies also posted gains, with Bitcoin leading the rally and setting the …

British retail sales rose by a stronger-than-expected 1% in August, driven by warmer weather and end-of-season sales, according to official data released by the Office for National Statistics (ONS) on Friday. This marks a significant improvement over economists’ expectations of a 0.4% rise, as forecasted by a Reuters poll. The …

Gold prices edged higher in Asian trading on Friday, supported by a weaker dollar following the Federal Reserve’s aggressive interest rate cut. The move has bolstered optimism for more rate reductions, driving demand for the precious metal as a hedge against currency weakness and economic uncertainty. Gold Reacts to Fed’s …

Following the FOMC, the US Dollar Index (DXY) returned to the 100.50 zone while retaining its gloomy outlook. Harker of the Fed isn’t scheduled to talk until the end of the week. As selling pressure on the US dollar increased, the EUR/USD strengthened its gain from Wednesday and returned to …

WTI futures were trading at $70.98 per barrel. WTI prices are lower by 3.35% so far this year. In the past 24 hours, Brent futures have increased by 1.95% to trade at $74.11/bbl. Brent prices have dropped by 6.26% so far this year. Although prices for West Texas Intermediate have …