Market Update

The EUR/GBP pair has drawn tight as both currencies mix on Thursday. The Euro remains steeply off of recent highs against the Pound Sterling. The Euro is lacking momentum after a miss on Eurozone GDP.The EUR/GBP has been trading in a tight range through the week just above 0.8550 after …

Following BoJ Ueda’s remarks, the GBP/JPY pair fell, trading at 180.69 after hitting an eight-week low at 178.53. Technical change to bearish; additional confirmation will come from a daily close at roughly 181.80.The BoJ Governor Ueda’s remarks caused the GBP/JPY to fall by more than 2.30%. The pair eventually reached …

The USD/JPY combination is headed for its worst day in 13 months. All around, the Japanese Yen is strengthening against the FX market as a whole. The Yen’s rally on Thursday was triggered by BoJ Governor Ueda’s implied potential tightening. A broad-market rally for the Japanese Yen on Thursday sent …

The US Bureau of Labour Statistics is set to release November’s jobs report on Friday, December 8, with expectations for a 180,000 rise in Nonfarm Payrolls. Gold is expected to react stronger to a disappointing jobs report than an upbeat one. US stocks are trading modestly higher on Thursday, led …

Numerous unions in the Nordic region have become involved in the labour dispute between Tesla and Swedish trade union IF Metall, calling on the automaker to sign a collective bargaining agreement.A strike by around 130 workers affiliated with IF Metall on October 27 has sparked sympathy strikes from dockworkers, cleaners, …

Gold gains as more major central banks increase their bets on rate cuts in early 2024. The precious metal is receiving additional support from the cautious sentiment of the market. Gold is trading at 2029.38 at the time of writing.Early on Thursday in the European session, the price of gold …

The US dollar has been declining versus the Japanese yen over time, and the unemployment rate has not changed. The Japanese Yen is hurting the dollar because Bank of Japan Chairman Kazuo Ueda hinted at an impending shift in monetary policy. Rates negative has been maintained by the Bank of …

Moody’s lowered its outlook for 8 Chinese banks to negative from stable, after lowering Beijing’s outlook to negative. The names that were downgraded included the four largest lenders in China, namely Industrial and Commercial Bank of China, Agricultural Bank of China, and China Construction Bank Corporation. The agency said that …

Gold prices rose on Thursday as the dollar fell as investors looked to US jobs data that will be released later this week and may provide new clues on the Federal Reserve’s path on interest rates. Gold rose 0.3 percent to $2,030.20 an ounce by 0748 GMT. US gold futures …

European stocks fell on Thursday, with travel and entertainment stocks leading the losses, as investors became increasingly concerned about an economic slowdown after recent weak data. The European STOXX 600 index fell 0.3 percent by 0810 GMT, after touching the peak of more than four months yesterday, Wednesday. Data showed …