Market Update

On Tuesday, the EUR/GBP pair rose by 0.50% to hit 0.8565. The Q4 GDP numbers for the Eurozone exceeded expectations, but the daily chart clearly shows bearish weariness. As monetary policy differences with the European Central Bank have pushed the cross lower in the previous sessions, the Bank of England’s …

ECB policymaker Gabriel Makhlouf said on Tuesday that the essence of data-dependency suggests that they should remain open-minded about the interest rate path, per Reuters.“With disinflation well underway, we are confident in sustainably reaching our target of 2%,” Makhlouf added. These comments didn’t have any immediate or noticeable impact on …

HSBC Bank has been slapped with a substantial fine of £57.4 million ($73 million) for what the Bank of England’s Prudential Regulation Authority deems as “serious failures” in safeguarding certain depositors over an extended period. This penalty marks the first of its kind under British laws designed to protect customers …

On Tuesday, the German Federal Statistics Office reported a contraction in the country’s economy during the final quarter of 2023, fueling concerns among economists who anticipate that Europe’s largest economy may enter another technical recession in the first quarter of 2024. According to the data, Germany’s Gross Domestic Product (GDP) …

On Tuesday, European stocks opened slightly higher, reaching their highest levels in two years, buoyed by gains on Wall Street the previous night. The European STOXX 600 index rose by 0.2 percent at 0825 GMT, marking its fifth consecutive session of gains. The positive sentiment in European markets was influenced …

On Tuesday, Japan’s benchmark Nikkei index closed higher, propelled by gains in chip-related stocks following positive trends on Wall Street. The index rose by 0.11 percent to close at 36,065.86 points, although there was a degree of caution among traders ahead of the Federal Reserve’s anticipated decision on interest rates …

Oil prices experienced an uptick in early trading on Tuesday as concerns over supplies persisted amidst escalating geopolitical tensions in the Middle East. Brent crude futures saw a rise of 25 cents, or 0.3 percent, reaching $82.65 per barrel by 0105 GMT. US West Texas Intermediate crude also increased by …

A second strong session for the US dollar placed more pressure on the riskier assets, pushing the EUR/USD to the sub-1.0800 level and the USD Index to flirt with the upper end of the current range amid the development of usual pre-FOMC caution.Ahead of the FOMC meeting and the release …

Despite opposition from the central bank, Russia is pondering an indefinite extension of the wartime capital regulations that were implemented to relieve pressure on the ruble. The step, according to the administration, is necessary to support the currency and assist curb inflation. President Vladimir Putin issued an order in October …

US stocks are surviving an increase in Treasury yields because of the positive economic outlook, but Goldman Sachs strategists warned that this might change if factors like tighter monetary policy push yields higher or if they climb too quickly.In their most recent weekly kickstart note, Goldman equity strategists lead by …