Market Update

The Reserve Bank of Australia (RBA) board members decided to raise its official cash rate (OCR) by another 25 basis points (bps) from 3.10% to 3.35%, as widely expected, when they met at their February 7 monetary policy meeting, the first of this year. According to the latest Reuters poll, …

Investors and traders will be all ears as Fed Chair Jerome Powell delivers his speech on Tuesday. Bond yields continued to surge on Monday as traders assess the possibility that the Fed will postpone any talk about rate cuts until later in the year after Friday’s very strong jobs report.Markets …

Japan’s Nikkei trimmed its gains to close lower on Tuesday as investors awaited Federal Reserve Chairman Jerome Powell’s speech, but a slew of corporate earnings left the market directionless. The Nikkei index fell 0.03 percent to close at 27,685.47 points, and cut the fourth consecutive winning session, after trading remained …

The US Dollar extended its Friday rally to fresh February highs against most major rivals, fueled by a dismal market sentiment. Investors and traders will be all ears as Fed Chair Jerome Powell delivers his speech on Tuesday. Bond yields continued to surge on Monday as traders assess the possibility …

Catherine Mann, member of the Bank Of England’s Monetary Policy Committee, backed additional increases of the British central bank’s interest rates. On Monday, Mann warned that the otherwise, namely pausing, as called for by some of her colleagues could involve risk of creating a confusing policy jargon if it turned …

Wall Street’s indexes edged lower on Monday as investors await the US central bank’s Chair Jerome Powell’s speech for direction as well as clues on when the Fed could start interest rate cuts. The latest non-farm payrolls report highlighted the robust situation of the labour market in the United States …

The EUR/USD retreated to fresh lows at around 1.0720s because of the stronger US dollar. Last week’s EU retail sales disappointed, while factory activity in Germany improved as orders rose as risks are tending to the downside.The EUR/USD extended its decline to new four-week lows at around 1.0720s due to …

Last week’s strong US jobs report has sent warnings across financial markets that the Fed policymakers could reconsider their upcoming action.Gold price decline is generally stopped on Monday as bulls who entered the market at last Friday’s low of around $1860 and reclaimed $1870. The US Nonfarm Payrolls report and …

Canada Ivey PMI improved at a much stronger pace than expected in January. The USD/CAD pair continues to trade in positive territory near 1.3450. The Ivey Purchasing Managers Index (PMI), an economic index which measures the month-to-month variation in economic activity in Canada, climbed to 60.1 (seasonally adjusted) in January …

The dollar held firm against the euro on Monday, with traders expecting the Federal Reserve to likely raise the benchmark interest rate above 5 percent and keep it at that level to rein in inflation, after data revealed that the labor market remains strong. The Turkish lira fell to a …