Market Update

US President Joe Biden and top lawmakers failed to break a deadlock on Tuesday in face-to-face talks over raising the $31.4 trillion US debt limit but vowed to meet again with just three weeks before the country may be forced into an unprecedented default.Biden called the meeting “productive” and reported …

The Gold Index XAU/USD rallies on Tuesday, benefiting from concerns over the US debt ceiling and slowing Chinese manufacturing activity.Falling US Treasury bond yields support gold prices despite strong US Dollar. Eyes are focused the upcoming US CPI data, which has the potential to impact gold prices. Gold price is …

The British pound drops to around the 1.26 handle ahead of key macroeconomic events for the week.  The Pound Sterling is likely to be impacted by the Bank of England meeting on “Super Thursday”. The US Dollar will look for impetus from the US Consumer Price Index data for April …

US Dollar manages to stay resilient against its major rivals on Tuesday. US Dollar Index clings to modest daily gains following Monday’s rebound. April inflation data from the US could trigger the next big reaction in USD.The US Dollar shook off the selling pressure at the beginning of the week …

Gold prices rose on Tuesday as investors awaited US inflation data in search of indications of the monetary policy path of the Federal Reserve (US Central Bank) in light of continued economic uncertainty. By 1021 GMT, spot gold rose 0.5 percent to $2,030.43 an ounce, and US gold futures rose …

The Bank of England is expected to raise interest rates by 25 basis points this week, according to traders. The market is also anticipating significant US inflation numbers on Wednesday, which will give additional insight into the world’s largest economy’s fight against inflation. On Tuesday, sterling fell against the US …

Gold prices moved in a narrow range on Tuesday ahead of US inflation data, which investors are looking for clues to the Federal Reserve’s policy path. Spot gold remained unchanged at $2,023.41 an ounce, and by 0232 GMT, US gold futures were down 0.2 percent, at $2,030.10. US consumer price …

European stocks fell on Tuesday, with Sweden’s SBB leading the losers after the company postponed its dividend, while investors remained wary ahead of important US economic data. The pan-European STOXX 600 index was down 0.2% by 0706 GMT, as investors awaited US consumer price data later this week for clues …

Japanese stocks rose on Tuesday, with the Nikkei index recording its highest closing level in 16 months, supported by a rise in steelmakers’ stocks on the back of strong corporate earnings. JFE Holdings jumped 14.5 percent, its biggest gain in 14 years, after Japan’s second-biggest steelmaker expected profits to rise …

The dollar rose on Tuesday after a survey showed that credit conditions in the United States were less bleak than expected, while the pound sterling flirted with its highest levels in a year amid expectations that the Bank of England (central) will raise interest rates this week. Currencies were little …