Market Update

Gold prices remained steady on Tuesday as investors shifted their attention to upcoming US inflation data, which could offer insights into the timing of potential interest rate cuts by the US central bank. Spot gold settled at $2,170.59 per ounce by 0310 GMT, while US gold futures dipped 0.2 percent …

The USD Index (DXY) declined from recent highs during the week’s bearish opening, although it continued to trade over the 104.00 mark. The Conference Board’s tracking of US Consumer Confidence, together with the FHFA’s House Price Index and Durable Goods Orders, will be the main topics of interest on March …

Cryptocurrencies are witnessing a significant rally, with Bitcoin leading the most recent advance. After a famous bullish prediction, Bitcoin price has skyrocketed, trading, at the time of writing, at the $70,365 level, which is up over 4.5%, and meanwhile close to its all-time high of nearly $74,000. This price leap …

Official delegates said on Monday that OPEC as well as the larger OPEC+ see no need to adjust or suggest a change of the oil production policy that is currently in place during the looming the Joint Ministerial Monitoring Committee meeting for March. OPEC and allies chose to voluntarily decrease …

The crucial 200-day moving average is quickly approaching for the EUR/USD pair, indicating a wave of cautious optimism in the currency markets. ECB optimism about inflation and future rate decreases contrasts with mixed views from the Fed and worse US housing data.Updates to the economic outlook are anticipated from the …

In the middle of the North American session, the Pound Sterling is still available due to rumours of a possible rate decrease by the Federal Reserve in June. As a result, the GBP/USD pair has somewhat rebounded against the US Dollar. The US economic schedule hasn’t been able to strengthen …

The USD/JPY pair is stumbling around 151.50 as concerns over foreign exchange manipulation are still very much present. With the US dollar continuing to weaken and US rates continuing to rise, the pair is trading near the top of the recent range north of the 151.00 level. The beginning of …

The US central bank appears optimistic about the country’s economy in the near future. According to the Fed’s most recent forecasts, monetary policymakers do anticipate that the US economy would grow healthily in 2024, 2025, and 2026—beyond initial estimates. Experts generally share this outlook. According to the head economist at …

At the beginning of the week, oil prices surged by more than 1.30%, with WTI Oil finding support at $80.63. The US Dollar Index is a little weaker but still trades above 104.00. Russia faces issues from sanctions and drone attacks from Ukraine on Russian refineries and storage facilities, while …

The U.S. dollar kicked off the new week on a subdued note, relinquishing some of its gains from the previous week, as traders awaited the release of pivotal inflation figures alongside further insights from Federal Reserve policymakers. At 05:20 ET (09:20 GMT), the Dollar Index, measuring the greenback against a …