Market Update

Following the release of UK inflation data, the GBP/USD pair is benefiting from the US dollar’s decline as a result of testimony made by Fed Chair Jerome Powell regarding rate hikes.Powell’s comments keep investors on edge, but the GBP/USD pair seems unaffected by the testimony. With a potential increase of …

Fed Chair Jerome Powell clarified the Fed’s stance by saying that the process of getting inflation back down to 2% has a long way to go. The S&P 500 was lower Wednesday as investors took a breather from last week’s market rally, and weighed Federal Reserve Chair Jerome Powell’s latest …

Powell’s testimony pressured the US Dollar, fueling modest EUR/USD gains. ECB rate hike expectations for July boost euro despite divided view amongst ECB members. The EUR/USD pair snaps three days of consecutive losses and rises toward the 1.0960 region as the US Fed Chair Jerome Powell answers questions at the …

Federal Reserve Chairman Powell’s hawkish words are significantly weighing on market sentiment as broadly expected. Wall Street extends losses ahead of the opening, hinting at more risk-off trading. The EUR/USD pair is technically neutral in the near term and could correct lower once below 1.0890. The EUR/USD pair keeps trading …

The US Dollar stalls giving Natural Gas a boost after a three-day rally during Fed Chair Powell’s testimony before the Congress.Natural Gas finds support after Tuesday’s decline as higher-than-expected demand for Gas used in cooling puts a floor under prices. Concerns regarding Norwegian supply after data showed a slump in …

Fed’s Chair Jerome Powell is testifying before congressional lawmakers this week, starting Wednesday morning with the House Financial Services Committee, just one week after the central bank paused its most aggressive rate-hiking campaign in decades.Powell doubled down on the hawkish view that the Fed isn’t done battling inflation in his …

The Bank of England (BoE) will publish its Interest Rate Decision on Thursday, June 22 at 11:00 GMT, and as the day approaches, below are the expectations anticipated by five major banks’ economists and experts. The “Old Lady” is projected to raise interest rates by 25 basis points (bps), to …

Gold prices fell on the rise of the dollar on Wednesday, as investors await clues about interest rates from US Federal Reserve Chairman Jerome Powell’s testimony before Congress. And gold in instant transactions fell 0.1 percent to 1934.20 dollars an ounce by 1112 GMT, and its movements are limited to …

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 …