Market Update

Bank of Canada Governor Tiff Macklem said on Friday that they were concerned because they were not really seeing a downward momentum in inflation, per Reuters.USD/CAD edged lower following these comments and was last seen losing 0.25% on the day at 1.3655.Key Quotes“Bank of Canada is not expecting a recession …

Wall Street’s major stock indices surged on Friday due to strong financial results from major US banks, increasing confidence in the economy. JPMorgan Chase, Wells Fargo, and Citigroup saw their shares rise by 3% to 5%, while the S&P 500 Banks index reached a three-week high of 3.2%. The worst …

The US dollar fell on Friday after its largest daily increase since March, which it reached on Thursday, as US consumer price data revived the possibility that the Federal Reserve will have to continue raising interest rates to bring inflation back towards the target level of two percent. The consumer …

Gold consolidated on Friday and is heading towards recording its best weekly performance in seven months due to tension in the Middle East and supported by expectations that US interest rates may have reached their peak while markets evaluate the latest data on inflation. Gold in spot transactions increased 0.5 …

European stocks fell on Friday after US inflation data fueled fears that interest rates will remain high for longer, while weak inflation data from China exacerbated concerns about the global economy. The European STOXX 600 index fell 0.2 percent by 0704 GMT. Shares of mining companies and oil and gas …

Japanese stocks fell on Friday, tracking Wall Street’s overnight declines, after higher-than-expected US inflation data raised the possibility that the Federal Reserve would be forced to keep interest rates high for a longer period. However, the Japanese Nikkei index’s losses were limited due to a 5.75 percent jump in the …

Due to increased Treasury yields, gold abruptly pulled back from over $1,880 and dropped below $1,870. Similar to Gold, Silver too experienced a fall and fell under $22.00. The 10-year yield jumped from 4.57% to 4.73%, while the 2-year yield increased from 4.98% to 5.07%.The US dollar continues to trade …

Due to investors’ worries when the US Consumer Price Index, or CPI, surpassed expectations, WTI crude oil prices plunged to a new low for the day. Crude Oil dealers, meanwhile, are focused on salvaging the day. Despite hitting a new low for the week, geopolitical unrest and supply worries continue …

The US Dollar continued to extend daily gains, and the DXY was getting close to weekly highs. The headline CPI for September in the US was higher than anticipated, while the core index was in line with forecasts.US Treasury short-term rates are also rising and getting close to weekly highs. …

Spot Gold price declines to $1,870 as markets turn around in response to US CPI inflation data. Markets are still undervaluing US inflation, which has caused risk-off flows.Thursday’s XAU/USD pricing has turned negative after beginning the day near $1,875. After the US Consumer Price Index (CPI) inflation reading revealed that …