Market Update

The US Bureau of Labour Statistics (BLS) stated on Tuesday that inflation, as measured by the change in the Consumer Price Index (CPI), increased to 3.2% on an annual basis in February from 3.1% in January. Annual Core CPI, which excludes volatile food and energy costs, rose 3.8% during the …

Correction and Profit-Taking Processes Drive Sterling Lower In the European market on Tuesday, the pound sterling faced downward pressure against a basket of global currencies, extending losses for the second consecutive day against the US dollar. This decline comes as the pound moves away from its eight-month high, driven by …

Japanese Officials’ Comments Dampen Expectations of Policy Shift The yen experienced its most substantial daily decline against the dollar in a month on Tuesday, following remarks from Japanese officials that tempered expectations of an imminent shift in monetary policy by the Bank of Japan (BOJ). Dollar Stable Ahead of US …

Market Optimism Supported by Corporate Performance European shares commenced trading on a positive note on Tuesday, buoyed by robust corporate earnings, while investors remained attentive to forthcoming U.S. inflation data for insights into the Federal Reserve’s stance on interest rate adjustments. STOXX 600 Approaches Record High The pan-European STOXX 600 …

Traders Take Profits Amid Anticipation of Interest Rate Factors Gold prices experienced a decline in Asian trade on Tuesday, stepping back from recent record highs as traders locked in profits ahead of the release of key U.S. inflation data. The anticipated CPI figures are expected to significantly influence the trajectory …

Japanese Yen Weakens Amidst BOJ Comments, Other Asian Currencies Remain Stable On Tuesday, most Asian currencies saw minimal movement while the dollar stabilized as markets awaited crucial U.S. inflation data, which could offer indications of the Federal Reserve’s stance on interest rates. Japanese Yen Retreats After BOJ Comments The Japanese …

The BTC/USD pair has risen past $72,000, setting a new record, but this is a long way from the top that some analysts of the biggest cryptocurrency in the world had predicted. By year’s end, Standard Chartered believes bitcoin will hit $100,000, while research company Fundstrat has set a target …

In the commodity market, WTI crude oil prices maintained their consolidative stance in the commodities market, circling the pivotal 200-day SMA and attempting to break through the $78.00 region. At $77.77 per barrel, US crude oil was last observed up 0.53%. Tuesday’s weekly update on US crude oil stocks as …

The Canadian dollar is trading on the thin side as investors await key inflation figures. Canada has a light economic calendar this week, with Canadian dollar slightly higher on Monday but stuck on the US dollar. The USD/CAD pair is trading at 1.3482 at the time of writing. The Canadian …

The EUR/USD pair slightly benefited from the US dollar’s sell-off but to a lesser degree than other assets including the Pound Sterling, and the Japanese yen. The pair remains in the same range that has been in play for the past 15 months, and price has made a fast move …