Market Update

A growing consensus of market watchers, investors and traders says that the Federal Reserve Bank has to speed up its taper procedures, namely the reduction of asset purchases in light of the fastest inflation in 31 years.The calls, ranging from former New York Fed President Bill Dudley to St. Louis …

Ahead of President Joe Biden’s virtual summit with Chinese President Xi Jinping, tens of businessmen are calling on Joe Biden to remove tariffs on China to help ease historic levels of inflation.The business community warned tariffs on China and retaliatory levies are hurting U. S. companies, industries and families by …

Andrew Bailey, governor of the Bank of England, declared before members of the Parliament that he is ‘very uneasy’ about the UK’s inflation situation, in comments that suggest he could vote for an interest rate rise soon.Testifying to the Treasury Committee, Bailey said this month’s vote to leave interest rates …

Relations between the UK and EU have been tattered due to the brinkmanship over the British threats to trigger an emergency clause known as Article 16 of the Northern Ireland Protocol. European Commission’s Maros Sefcovic said the EU will consider all tools at its disposal if the UK Government triggers …

GBP/USD pair is attempting to correct a daily bearish impulse and is trading 0.18% higher on Monday’s session. GBP/USD has travelled from as low as 1.3402 to a high of 1.3449, scoring the high in recent trade as bulls take on daily resistance with 1.3480 eyed. The sterling has been …

Reiterating the ECB’s well-known stance on inflation, ECB’s de Guindos said that the current phase of higher inflation, which partly reflects an increase in energy prices and supply constraints, could last longer than expected only some months ago. Supply shortages may dampen activity while pushing up prices, adding to the …

Director of Research and Development at Noor Capital and member of the American Association of Professional Technical Analysts, Mohamed Hashad, was a guest on Dubai Channel to comment on the most outstanding developments in the financial markets today and throughout the current week. US-China Virtual Summit in Spotlight The markets …

After reaching four-week highs, the USD/CAD pair has slumped for the second successive session down 0.18%, the pair is now trading at 1.2524 during on Monday.The fall is mainly driven by US dollar’s current weakness, caused by a weaker than expected University of Michigan consumer sentiment that plummeted to a …

Futures rose during the last hour of trading, with the Dow Jones DJIA gaining about 102 points, the S&P 500 futures gaining about 10 points, and the Nasdaq 100 futures contracting up about 38 points. US stock futures settled in early morning trading on Monday, after the Standard & Poor’s …

The dollar was lower on Monday, retreating from a 16-month high, as traders looked for fresh clues about the Federal Reserve’s thinking about the timing of an interest rate hike. The dollar index, which measures the greenback against a basket of six other currencies, was down 0.1% at 95.073, retreating …