Market Update

Over the last 24 hours, the stock of New York Community Bank (NYCB) has declined as a result of Moody’s downgrading the bank’s credit rating to junk status. After Signature Bank failed less than a year ago, NYCB acquired its assets and placed them under a new regulatory framework. NYCB …

The AUD/USD pair is moving sideways near 0.6520 in the early Asian session, with Fed officials’ comments not significantly impacting the market. Future market traders expect the first rate cuts for the Reserve Bank of Australia to occur in September, rather than August. The pair consolidates above the 0.6500 psychological …

The US Dollar Index is trading neutrally at 104.15 on Wednesday, while markets assess several Fed officials’ statements to continue placing their bets on rate policy path at the next few Federal Open Market Committee meetings.The Dollar Index steadied around 104.15 on Wednesday. Remarks and comments by Fed’s Collins, Kashkari …

Bitcoin has surged over $44,000 for the first time since January 12, the day after spot ETF debuts, marking a new all-time high in US equity indices. The largest and oldest crypto by market value rose from $42,700 earlier in the day to as much as $44,300, its highest price …

On Wednesday, US equities rose sharply as investors processed new quarterly profit data, while the ongoing discussion about whether to drop interest rates continued to rumble beneath the surface. The S&P 500 increased by more than 0.7%, while the Dow Jones Industrial Average increased by 0.4%. There was over a …

Wednesday saw minimal movement in the EUR/USD pair as European economic indicators continued to weaken. After hitting a small intraday high of 1.0784, the pair tested back into familiar terrain near 1.0750. Since interest rates in the Eurozone peaked in September of last year, those who are interested in rate …

Federal Reserve Governor Adriana Kugler said on Wednesday that she is pleased with the great progress on inflation and added that she is optimistic that the progress will continue, per Reuters.These comments do not have an immediate impact on the performance of the US dollar versus major rival currencies. At …

Natural Gas has experienced a decline following reports that the Biden administration is set to prolong the LNG export moratorium by 9 to 12 months. Piden’s Pause ContiunesThe US Dollar Index is flirting with a break below 104 as the dollar fails to find nearby support. The LNG ban remains …

Gold prices remained relatively stable on Wednesday as traders awaited statements from US Federal Reserve officials, which could shed light on the trajectory of interest rates for the year ahead. Spot Market Performance There was minimal movement in spot gold prices, which hovered around $2,033.02 per ounce as of 1030 …

EIA Raises Forecast for Global Oil Demand Growth In a recent statement, the US Energy Administration (EIA) announced a revised forecast for global crude oil demand, indicating an increase in growth projections for both 2024 and 2025. According to the statement released on Tuesday, the EIA anticipates a growth of …