Market Update

The USD/JPY pair holds to daily losses at the 140.40 area. The pair is precisely trading at 140.63, namely down by about -20% at the time of writing after Fed hiked rates by 25 bps as expected to 5.25% and left the door open for further hikes. Eyes on BoJ’s …

Fed hikes interest rate by 25 bps as investors wait for J. Powell’s clues for rest of 2023the Federal Reserve decided to increase its policy rate by 25 basis points to 5.25–5.50%. The Fed has had a difficult time persuading the markets that they will increase interest rates at least …

WTI gained support at a $78.66 daily low and later rose above $79.00 although still suffering daily losses. The FOMC decision, which is anticipated to result in a 25 bps raise, will be the session’s high point. EIA Crude Oil stockpiles decreased by 0.6M in the third week of July, …

As investors avoid taking up significant positions before the Fed announces its monetary policy decisions, the EUR/USD pair gained momentum midweek and stabilised above 1.1070. On Tuesday, the pair fell to 1.1020, its lowest point in two weeks, but recovered in the early American session. The US Dollar lost appeal …

Following the rebranding of Twitter CEO Elon Musk to X, numerous cryptocurrency projects, including AI-X, X-Coin, and X token, have seen large pumps and dumps. This emphasises the significance of conducting careful study and exercising due diligence before investing in a cryptocurrency. Market share has been controlled by X currencies, …

The US Dollar is struggling to find demand as markets await the FOMC’s highly-anticipated monetary policy decisions. The USD index, which tracks the USD’s valuation against a basket of six major currencies, is expected to decline toward 101.00 after closing in the red on Tuesday. The Fed is widely anticipated …

In a letter to investors on Wednesday, Barclays analysts expressed their concern that Apple’s forecast for the September quarter would fall short of market expectations. Despite the likely miss, the analysts said it’s not obvious that it matters for the stock because “bulls may expect a stronger Dec-Q.” They rate …

An Australian court has ordered Meta Platforms, owner of Facebook, to pay fines a total of A$20 million ($14 million) for harvesting user data through a smartphone app that was promoted as a way to protect privacy without disclosing its actions. The Australian Federal Court also ordered Mita to pay …

Gold rose, but its movements remained within a narrow range on Wednesday, as dealers held back from big bets ahead of the US Federal Reserve’s policy decision later in the day. Spot gold rose 0.3 percent to $1,969.51 an ounce by 0747 GMT. US gold futures rose 0.4 percent to …

The Japanese Nikkei index fell slightly on Wednesday, July 26, under pressure from the decline in stocks of auto and tire makers, while investors engaged in selling to take profits ahead of the monetary policy meeting of the Central Bank of Japan, which lasts for two days this week. The …