The US dollar strengthens, yet Euro holds firm, with the EUR/USD pair at 1.0746 amid policy shifts anticipation. Anticipated Fed’s skip and hike could reshape US-EU interest rate dynamics, potentially favouring Euro.Possible US economic downturn might trigger ‘dollar smile’ as markets eye key economic indices. The EUR/USD pares some of …
Read More »A pivotal week in global monetary policy is coming
Investors will be following the outcomes of monetary policy meetings in the United States, the European Union, and Japan this week, from Wednesday to Friday. Uncertainty over the trajectory of interest rates has recently been common as persistent inflation maintains firm in some places and begins to surrender in others. …
Read More »Oil fell amid anticipation of the US interest rate decision
Oil prices fell by $2 on Monday ahead of a Federal Reserve meeting as investors try to figure out the bank’s direction with regard to raising interest rates, while concerns about growing fuel demand in China and rising Russian crude supplies weighed on the market. Brent crude futures fell $1.91, …
Read More »European stocks open higher
European stocks opened higher Monday, June 12, at the start of a week full of important central bank meetings on monetary policies, and shares of the Swiss drug company Novartis rose after it agreed to buy the US-based Chinook. The pan-European Stoxx 600 index rose 0.3%. The Federal Reserve, European …
Read More »Turkish lira is falling to a new record level
The Turkish lira fell to a new record low on Monday as investors awaited clues about monetary policy moves after the appointment of a new central bank chief who is expected to raise interest rates. The lira fell 1.3 percent at 23.65 against the dollar at 0834 GMT, after hitting …
Read More »Turkey’s current account deficit rose to $5.4 billion in April
The Turkish Central Bank said Monday, June 12, that the country’s current account deficit rose to $5.404 billion in April, which exceeds Reuters expectations, which predicted the deficit would reach $4.5 billion. In March, the Turkish current account deficit recorded 4.903 billion dollars. As for the entire year 2022, the …
Read More »Gold shines with the decline of dollar
Gold prices rose sharply in the midday US trading session on Thursday due to the lower US dollar index and declining Treasury yields. August gold futures were last up $24.60 at $1,983.00 and July silver was up $0.796 at $24.325. Gold continues to move sideways, and we await pending orders …
Read More »Financial Markets’ Weekly Recap, Jun 5-9
Following a surprise 25 basis point (bps) rate hike in May, the Reserve Bank of Australia (RBA) board members opted to raise the Official Cash Rate (OCR) by another 25 basis points (bps) to 4.10% at its June policy meeting, delivering another hawkish surprise. According to the most recent Reuters …
Read More »Wall Street abandons earlier gains as Fed, CPI awaited
Wall Street has given up earlier gains as the US central bank’s policy decision and the Consumer Price Index (CPI) are awaited.The S&P 500 index is up 0.27% after rallying from a low of 4,279.10 to a high of 4,322.20, falling back to 4,303 currently. The benchmark S&P 500 closed …
Read More »AUD/USD reacts to interest rate decisions, broader economic data
The AUD/USD pair has reached the 0.6750s on Friday, but it is trading at 0.6738 at the time of writing due to the speculation that the US central bank may not raise interest rates again for some time. This has impacted the US Dollar at the same time that the …
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