Market Update

Strong US manufacturing activity and pricing pressures have caused the GBP/USD to decline, which may feed concerns of a sustained Fed policy. Due to holiday closures, the US economy is resilient while European markets are quiet. The GBP/USD exchange rate may be weighed down by upcoming UK PMI data releases, …

Bitcoin miners have reached a record $2 billion in earnings ahead of the halving event, with earnings reaching a high of $2.01 billion from rewards and transfer fees. This marks the highest revenue in the last year and the highest record month for miner income in the network’s lifetime. The …

Strong US macroeconomic data has been supporting the US dollar, which has caused the Canadian currency (CAD) to lose ground. The Canadian dollar is under pressure as a result of the S&P Manufacturing PMI in Canada failing to sustain the loonie and the oil price stalling close to year-to-date highs. …

Gold prices continued to surge to unprecedented highs on Monday following the release of data indicating a slowdown in the pace of inflation in the United States. This development reinforced expectations that the Federal Reserve could implement its first interest rate cut in June, as lower interest rates diminish the …

On Monday, oil prices stabilized near their highest levels in five months, buoyed by various factors including expectations of declining supplies due to OPEC+ production cuts, attacks on Russian refineries, and robust data from the Chinese manufacturing sector indicating improved demand. As of 1115 GMT, Brent crude prices dipped by …

On Monday, Turkish stocks experienced a notable increase while the lira saw a slight decline after reaching its lowest levels ever against the dollar following the opposition’s significant victory over President Recep Tayyip Erdogan’s Justice and Development Party (AKP) in local elections. Analysts attributed the AKP’s electoral setback to factors …

The dollar was broadly stable on Monday as data showing declining inflation in the United States reinforced bets that the US central bank may cut interest rates in June, while the yen fluctuated near the 152 level to the dollar, which reinforced traders’ concerns about possible government intervention. The US …

On Monday, Japan’s Nikkei index experienced a notable downturn, closing at its lowest level in two weeks, dipping below the 40,000-point mark. This decline was primarily attributed to traders opting to sell stocks to secure profits on the first day of the country’s new fiscal year. The Nikkei index recorded …

On Monday, gold prices surged to a record high following reports indicating a moderation in US inflation during February. This development heightened expectations that the Federal Reserve (the US central bank) would implement interest rate cuts in June. During spot transactions, gold prices jumped by 1 percent to reach $2,255.39 …

On Monday, oil prices continued their upward trajectory, building on recent gains amid various factors including anticipated declines in supplies due to OPEC+ production cuts, attacks on Russian refineries, and positive data from the Chinese manufacturing sector, signaling improved demand. As of 0331 GMT, Brent crude prices climbed by 29 …