Market Update

GBP/USD gains 0.59%, trading at 1.3394 after rebounding from a daily low of 1.3312. Break above 1.3400 could push the pair towards the YTD high of 1.3437 and further resistance at 1.3500. Failure to reclaim 1.3400 may lead to testing the September 25 low of 1.3312.The Pound Sterling climbs over …

The speech delivered by Fed Chair Jerome Powell at the 10th Annual US Treasury Market Conference marks a significant milestone in the understanding and regulation of the US Treasury market. It provides a historical context for the conference’s inception, highlights the market’s crucial role in the economy, and underscores the …

The U.S. dollar edged lower on Thursday as traders awaited more speeches from key Federal Reserve policymakers, following a sharp rally in the previous session. The Dollar Index, which measures the greenback against a basket of six other currencies, was down 0.1% to 100.565 as of 04:40 ET (08:40 GMT). …

On Thursday, the Swiss National Bank (SNB) announced a 25 basis point cut to its interest rates, marking its third reduction this year. This adjustment brings the policy rate down to 1.00%, the lowest level since early 2023. The decision aligns with similar moves by the European Central Bank and …

Oil prices fell on Thursday, reversing earlier gains as market sentiment was impacted by news that top exporter Saudi Arabia is planning to abandon its unofficial crude oil price target of $100 per barrel in preparation for expanded production. Market Overview Brent crude futures dropped by 55 cents, or 0.75%, …

Gold prices remained steady in Asian trade on Thursday, staying close to their recent record highs, as investors shifted their attention to Federal Reserve Chair Jerome Powell’s upcoming address and significant U.S. economic data releases. Spot gold rose by 0.2% to $2,661.78 an ounce, while December gold futures steadied at …

Market Focus Shifts to Powell’s Speech and Key Economic Data The US Dollar Index (DXY) experienced a sharp increase, rebounding from recent lows. This rebound was fueled by a combination of factors, including expectations for a stronger US economy and potential adjustments to monetary policy.The US dollar staged a significant …

The Swiss Franc (CHF) is facing downward pressure as investors anticipate a potential interest rate cut by the Swiss National Bank (SNB) at its upcoming policy meeting. The USD/CHF pair has risen, reflecting market expectations for a more accommodative monetary stance from the SNB.SNB Rate Cut ExpectationsMarket participants are pricing …

Gold prices have shown resilience despite rising US Treasury yields, maintaining a steady position above $2,650. The market’s increased expectation of further interest rate cuts by the Federal Reserve (Fed) has provided support to the precious metal. However, the strengthening US dollar and elevated Treasury yields have limited gold’s upside.Factors …

The market is still overestimating Fed easing even while the Fed is defying dovish expectations. S&P Global preliminary September PMIs came in above forecasts, indicating that the economy is still doing well. Fed representatives will make an effort to temper their dovish remarks. Amidst growing concerns of a recession, the …