Market Update

GBP/USD’s bullish run shows no signs of abating. The pair continued its upward trajectory on Tuesday, gaining 0.32% to reach 1.3030, inching closer to mid-July highs. This sustained upward momentum is evident in the recent trading sessions. The next hurdle for GBP/USD lies at 1.3100. If the pair can break …

Goldman Sachs, a leading investment bank, has recently revised its forecast for a U.S. recession, decreasing the probability to 20%. This adjustment follows a brief uptick in the likelihood after a weaker-than-expected July jobs report. However, subsequent economic indicators, including retail sales and jobless claims, have mitigated concerns about an …

The U.S. dollar continued its downward trend on Tuesday, edging closer to seven-month lows as growing expectations of a Federal Reserve interest rate cut in September weighed on the currency. As of 04:00 ET (09:00 GMT), the Dollar Index, which measures the greenback against a basket of six major currencies, …

European shares were mostly flat on Tuesday as investors held back from making significant bets ahead of crucial euro zone data. The pan-European STOXX 600 index remained stable at 514.87 points as of 0710 GMT, after reaching a three-week high in the previous session. Sector Highlights: Energy Stocks Fall: The …

Bitcoin surged on Tuesday, rising 4.5% to $61,176.1 by 01:29 ET (05:29 GMT), as optimism about potential interest rate cuts by the Federal Reserve bolstered risk-driven markets. This growth mirrors broader market gains, reflecting increased investor confidence that the Fed may reduce rates in September. Key Factors Driving Bitcoin’s Rise: …

Oil prices fell on Tuesday as Israel accepted a proposal to address disagreements that were hindering a ceasefire deal in Gaza, reducing concerns over potential supply disruptions in the Middle East. By 0600 GMT, Brent crude dropped 67 cents, or 0.86%, to $76.99 per barrel. U.S. West Texas Intermediate (WTI) …

Gold prices dipped slightly in Asian trading on Tuesday but remained close to their record highs as traders increasingly believe that the Federal Reserve will begin cutting interest rates in September, leading to a weaker dollar. Spot gold edged down 0.1% to $2,501.06 an ounce, while December gold futures also …

Selling pressure on the US Dollar persisted as investor risk appetite strengthened ahead of crucial economic events. The release of the FOMC minutes and Federal Reserve Chair Powell’s speech at Jackson Hole loomed large.The USD Index plunged to its lowest point in several months, nearing 101.80, as positive sentiment dominated …

Bitcoin’s recent price behavior has ignited a fervent debate among investors and analysts. After a brief flirtation with the $60,000 level, the world’s largest cryptocurrency has retreated, leaving market participants grappling with uncertainty. Is this a temporary consolidation phase, or a harbinger of a more protracted downturn?The Macroeconomic UndercurrentTo fully …

The Canadian Dollar exhibited a mixed performance on Monday, appreciating against its US counterpart while depreciating against other major currencies. This divergence comes as investors await crucial economic data releases and navigate a complex interest rate environment.Canada is poised to unveil its latest Consumer Price Index (CPI) figures on Tuesday, …