Market Update

According to a study released on Wednesday, British manufacturers anticipate to boost prices by the fewest amount since February 2021 during the next three months, while price hikes will still be substantially quicker than their long-run average. The Confederation of British Industry (CBI) said that its monthly index of manufacturers’ …

The dollar rose on Wednesday before Federal Reserve Chairman Jerome Powell speaks to Congress as his comments are expected to reflect tightening monetary policy, while the British pound rose slightly after stronger-than-expected British inflation data. Britain’s consumer price index held steady at 8.7 percent in May, despite hopes that it …

Japan’s Nikkei index reversed course to close higher on Wednesday as investors snapped up heavyweight stocks that have seen their prices decline, with SoftBank Group and chip-related stocks leading the gains. The Nikkei index rose 0.56 percent to close at 33,575.14 points, after falling as much as 0.7 percent earlier …

On Wednesday, oil prices extended losses for the third day in a row, on the back of the dollar’s rise thanks to the recovery of the US housing market, while demand concerns persisted, fearing that monetary stimulus in China will not be enough to revive growth. Brent crude futures fell …

The US Dollar remained higher on Tuesday as the market mood declined on news that stirred fears about Chinese economic growth that is seen as having lost momentum. The focus now shifts to Fed Chair Jerome Powell’s testimony before Congress.Key DevelopmentsThe People’s Bank of China (PBoC) cut two key lending …

Gold price remains pressured after breaking 100-DMA support during three-day downtrend. Risk aversion underpins US Dollar strength and weighs on the Gold Index. Fears of economic slowdown originating from China, higher rates in the West roil sentiment and favuor gold sellers. Fed’s Jerome Powell’s bi-annual Testimony will be crucial to …

Business sentiment at big Japanese manufacturers edged up in June, staying in positive territory for a second straight month and reflecting a post-COVID economic recovery though uncertainty remains high amid slowing global growth for June.Following the release, USD/JPY stretches the previous day’s retreat from the highest level in seven months …

The EUR/USD began the US session hesitating due to the US dollar’s strength, but the pair eventually managed to become higher after three-day downtrend. ECB policymakers keep suggesting higher rates even as inflation clues, growth numbers ease. Fed OFFICIALS ALSO reiterate hawkish bias ahead of Powell’s bi-annual Testimony before the …

The GBP/USD pair retraces below 1.2800 on the stronger US dollar ahead of Powell testimony and the Bank of England’s policy decision. The stronger US Dollar, driven by expectations of further tightening by the Fed and an overbought US equity market, has influenced the pair’s price movement. Fed Chair Jerome …

With no obvious directional bias, the price of bitcoin is still ambiguous. Ethereum, Ripple, and other altcoins are therefore constrained to consolidation. But when BTC gets closer to a breakout, things might change quickly. The most famous cryptocurrency is trading at $28262 at the time of writing.Since April 19, the …