Market Update

EUR/USD advances to begin the trading week on the right stance, up 0.18%, trading at 1.1587 during the day, as positive market sentiment as witnessed by rising US stock indices prevails the financial markets. In the Forex market, risk-sensitive currencies rise, with the NZD, the GBP, and the AUD, as …

The S&P 500 has edged higher in the New York session, up by 0.08%, to settle at 4,701.The Dow Jones Industrial has added 0.23%, up to 36,412, while the Nasdaq has fallen by 0.01%, at 16,358. Positive U. S. jobs data last Friday, in addition to tapering by the U. …

Carmaker’s chief executive Elon Musk asked Twitter users whether he should sell 10% of his Tesla stock. Tesla will move its headquarters to Austin, Texas, said CEO Elon Musk, comparing the current crowded operations at the factory in Fremont, Calif., to “spam in a can”.Musk said the electric-vehicle maker would …

`Crude oil prices have been uneven during recent trading but continue to trade with a positive bias on the day.Front-month futures contracts for the U. S. WTI, currently trades close to $82.00/barrel, having swung between the $81.30-$82.60 at various points throughout the U. S. session. WTI currently trades with on-the-day …

The Bank of England’s governor, Andrew Bailey, has stated in recent trade that the U. K. will have to act with rates if there is evidence of higher inflation expectations impacting workers’ wages.Key comments by BoE’s Bailey:Much of rise in inflation has to do with reopening after lockdowns.What we are …

The Bank of England will not politicize how it supervises foreign clearing houses with confronting responses to whatever the European Union decides, a senior BoE official said on Monday.Christina Segal-Knowles, the BoE’s executive director for financial market infrastructure, pointed out in a public consultation paper how the central bank will …

Gold continues to trade with an uptrend bias on Monday after breaking above key resistance last Friday in the $1814 per ounce. Prices surpassed $1820 earlier in the U. S. session, the highest level in over two months. Gold bulls will now be eyeing a move back to test resistance …

Paving the way for Biden’s Administration to take further steps in the path remaking the Federal Reserve Bank, Federal Reserve Governor Randal Quarles said he will step down from his post around the end of the current year. The resignation announcement has come a little over a month after ending …

Fed Chair Jerome Powell spoke, Monday, before the “Gender and the Economy Conference”, a symposium hosted by the Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, D.C. (via webcast). Following is the full text of Powell’s speech: Good morning. I am pleased to …

GBP/USD attracted some buyers on Monday near the mid-1.3400s amidst renewed USD selloff.The prevalent risk-on environment acted as a headwind for the safe-haven USD. Rebounding US bond yields, according to a wide range of investors could limit the USD slide and lead to gains.The dovish BoE and Brexit jargon could …