Market Update

On Thursday, the pound stabilized against the dollar as traders awaited the Bank of England’s meeting, widely anticipated to maintain UK rates, though uncertainty looms over its monetary policy outlook. This week sees a flurry of central bank decisions. Notably, the Bank of Japan surprised markets on Tuesday by abandoning …

In March, Germany’s economic downturn showed signs of easing, with business activity in the country’s service sector approaching stabilization, according to a preliminary survey released on Thursday. The HCOB German Flash Composite Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 47.4 in March from 46.3 in February. Although …

In February, Britain experienced a larger-than-expected budget deficit, driven by increased cost-of-living payments and the lingering impact of past inflation on public finances, according to official data released on Thursday. The public sector net borrowing, excluding state-owned banks, amounted to £8.401 billion last month, compared to £11.843 billion recorded a …

Oil prices rose on Thursday after falling in the previous session, supported by a decline in crude and gasoline inventories in the United States after indications that the Federal Reserve (the US central bank) may keep interest rates high for a longer period, affecting expectations for future fuel demand. By …

Gold prices surged to unprecedented levels on Thursday, driven by a decline in the dollar and bond yields following the Federal Reserve’s decision to maintain expectations of three interest rate cuts this year. The allure of gold strengthened as low interest rates diminished the opportunity cost of holding non-yielding bullion …

The US Dollar Index (DXY), which had earlier risen above 104.00, eventually dropped later on Wednesday after FOMC decision, hitting lows of 103.00s. FOMC decision, to keep interest rate unchanged in March, significantly had an impact on market mood including the performance of US stocks as well as gold prices.Economic …

The Federal Reserve’s decision to hold rates unchanged and to adhere to the US monetary policy projection from the previous year, which suggests 75 basis points (bps) of rate cuts in 2024, caused the Australian dollar to leap 0.83% against the US dollar on Wednesday. The pair trades at 0.6595, …

Following the FOMC’s decision to keep interest rates steady and Fed Chair Jerome Powell’s press conference, which in March established a higher for longer attitude while also hinting at three rate decreases before 2024 ends, the US dollar fell to its lowest point this week.FOMC Decision in Line with Expectations …

After the Fed had hinted at three rate cuts in the pipeline for 2024, the Dow surged to new heights. Following the Federal Reserve’s the retention of Fed’s 23-year high rate of interest rate and its hold on the projections for three rate cuts before the end of 2024, the …

The Federal Reserve maintained its monetary policy unchanged at the recently concluded Federal Open Market Committee (FOMC) monetary policy meeting, as anticipated. At 5.25% to 5.50%, the main Fed Funds interest rate range remained unchanged. It seems that the FOMC statement took a moderate stance on policy, neither being very …