Market Update

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 …

Eurozone’s Retail Sales dropped by 2.7% MoM in January versus -2.5% expected and 1.2% last, the official figures released by Eurostat showed on Monday. On an annualized basis, the bloc’s Retail Sales came in at -2.8% in January versus -2.5% recorded in December and -2.7% consensus forecast.

Gold prices recovered some of their losses on Monday, but the strength of the dollar and fears that the Federal Reserve may continue to raise interest rates kept the yellow metal below the key level of $ 1900 an ounce. And by 0540 GMT, spot gold rose 0.6 percent to …

In early trading on Monday, the Turkish lira reached a new record low against the dollar, recording 18.85, as the Turkish currency is under pressure due to the strength of the dollar and geopolitical risks. Emerging market currencies came under significant pressure after the dollar rose sharply on Friday in …

The Japanese Nikkei index closed at its highest level in more than seven weeks on Monday, as the yen’s decline supported shares of automakers and other exporting companies, while shares of trading companies achieved gains supported by earnings expectations. The Nikkei rose 0.67 percent to close at 27,693.65 points, the …

Major US stock indexes closed lower on Friday after surprisingly strong jobs data raised concerns about the Federal Reserve’s aggressive rate hikes, while investors received a mixed batch of earnings reports from major companies.The data published by the US Bureau of Labor Statistics (BLS) revealed on Friday that Nonfarm Payrolls …

Economic data mainly drove the US trading session on Friday. US job growth was the main protagonist in most of the incidents in the market’s story as US job growth soared in January amid a persistently resilient labour market, but a further moderation in wage gains could give the Fed …

Oil prices dipped to three-week lows on Friday during a remarkably volatile US trading session, volatility even deepened following the robust US jobs report that renewed existing concerns about future higher interest rates in the USA as investors seek clarity on the imminent EU embargo on Russian refined products. Brent …