Market Update

The USD/JPY pair is testing important barrier as it moves forward in the bullish trend. Bears want 132.80, while bulls aim for a break of 135.11. The price of the pair increased by 0.5% over the day, moving between a low of 133.95 and a high of 135.13. The yield …

Following the most recent UK inflation estimate, economists anticipate a 25 basis point increase in the Bank of England’s benchmark interest rate in May. Data on the UK labour market and inflation released this week have given the Bank of England (BoE) policy officials some positive surprises.Analysts revise their projections …

Following price movement in both directions, the price of gold is currently consolidating. The motivating force is the Fed’s outlook, which has an eye on crucial support. As the US Dollar strengthens once more, the price of gold is down about 0.5% on the day and has fallen below the …

According to Fed’s Beige Book, released on Wednesday, stress on the US banking system has eased since the failure of Silicon Valley Bank in March. Lending in the U.S. declined after the failure of Silicon Valley Bank and businesses hired fewer people in the early spring, but inflation also “appeared …

The USD/CAD pair is trading at 1.3446 at the time of writing, it is therefore higher by some 0.41%. the pair has travelled lower over the last month driven by the broad-based setback to the US dollar and the rebound in oil supporting the Canadian counterpart. Analysts forecast USD/CAD at …

After declining on Tuesday, the US dollar is now moving in the right direction. The US dollar outperformed its competitors due to the steep rise in US Treasury bond yields.The main Wall Street indexes are trading in the red, but the US dollar is unable to gain any more ground. …

Shares in electric vehicle maker, Tesla, dropped 4% after the company reported Q1 earnings after the bell. Here are the results. Earnings per share are 85 cents adjusted versus 85 cents expected, according to the average analyst estimates. Tesla’s revenues were $23.33 billion as opposed to the $23.21 billion anticipated. …

Data from the Energy Information Administration on Wednesday showed that US crude oil inventories fell more than expected due to refinery consumption and higher exports, while gasoline inventories rose unexpectedly due to disappointing demand. Crude stocks fell by 4.6 million barrels in the week ending April 14 to 466 million …

As increased income from its wealth management division offset declining revenue from its investment banking and trading units, Morgan Stanley’s first-quarter profit exceeded expectations. However, in premarket trade, shares decreased by more than 2%. While wealth management witnessed an 11% increase in revenue and brought in $110 billion in net …

Oil prices fell on Wednesday as the market assessed the possibility of the Federal Reserve raising interest rates which could slow growth and reduce oil consumption, which was offset by falling US inventories and strong Chinese economic data. And by 0641 GMT, Brent crude futures fell 35 cents, or 0.4 …