Market Update

European stocks opened lower on Friday at the end of a week marked by a lot of monetary policy decisions from central banks, which supported views that interest rates may remain high for a longer period, while Siemens Energy plunged after the company withdrew its annual profit forecast. The pan-European …

The dollar was supported by a wave of risk aversion on Friday, as hawkish comments from global central banks, including the US Federal Reserve, raised fears of a further contraction of the economy. Sterling struggled to hold on to gains made by the Bank of England’s decision on Thursday to …

The Japanese Nikkei index gave up early gains made at the beginning of the session on Friday, to close lower and record its first weekly loss after ten weeks of gains, in light of investors taking profits before an expected wave of selling by the end of the month to …

On Friday, gold prices are heading for the largest weekly loss since February, as the dollar received support from expectations of the Federal Reserve raising interest rates again this year, which pushed the non-yielding yellow metal to its lowest level in more than three months. By 0246 GMT, spot gold …

“As the Fed tightens policy, a recession remains a risk,” noted US Treasury Secretary Janet Yellen late Thursday. The policymaker also added, “It is not appropriate to debate the 2% inflation target at this time.”US Treasury Secretary Yellen also said that to ease Consumer Price Index (CPI), consumer spending may …

Gold Price renewed three-month low after five-day losing streak. It looks pressured on the hawkishness adopted recently by central banks. This hawkish stance amplifies economic fears and underpin the American currency’s demand, weighing on the Gold Index. Mostly upbeat US data, positive statements by Fed Chair Jerome Powell also bolstered …

The Natural Gas Index (XNG/USD) is trading at $2.637 MMBtu, at the time of writing, entering the US session on Thursday. Natural gas price pulls back after gas storage data beats estimates. In other words, natural gas corrects on intraday charts after Natural Gas Storage data shows an unexpected rise …

Recent rate increases by central banks, headed by the BoE on Thursday, fuel concerns about a decline in oil demand. Despite recent decreases in OPEC+ output and an unexpected drop in US petroleum stocks, WTI declines. In light of worries about an economic downturn, traders are turning their attention to …

Several Senate Republicans questioned the new banking regulations when Federal Reserve Chair Jerome Powell spoke before the Senate Banking Committee on Thursday, specifically whether or not small banks would be subject to increased capital requirements.Powell stated that a plan is under consideration and has already been discussed within the Fed, …

The USD/JPY pair is climbing to a YTD peak of 142.88 as Fed Chair Jerome Powell’s hawkish commentary strengthens the US Dollar. Global economic slowdown fears resurface as major central banks, including the Bank of England, tighten monetary conditions.The USD/JPY benefits from rising bond yields and dovish commentary from Bank …