Market Update

Gold price has taken off to renew nine-month high, up for the fourth consecutive trading day. The weaker US dollar reinforces the Gold Index’s upside while a cautious mood prevails most financial markets ahead of the key United States Gross Domestic Product.Dovish bias surrounding the Fed’s intention contrasts with the …

The Australian dollar surged to a fresh five-month high at 0.7122 against the US dollar on Wednesday, after the Australian inflation data that paved the way for additional policy tightening by the Reserve Bank of Australia. Except for the Australian dollar, risk aversion keeps high beta currencies pressured. Hence, the …

Bulls in the US dollar are hiding at a key support level.In the following few days, the Dollar is expected to encounter weekly negative mood resulting in a bullish correction with the 38.2% Fibonacci target positioned around 103.10.The Fed’s intentions and awaited US data will be crucial in determining the …

Republicans are still divided over to what extent they should adopt hardline stance on the US debt ceiling, but the significant development is that they were united on Wednesday in one remarkable thing; namely their uniform demand that the Democratic President Joe Biden should agree to negotiate on spending as …

US stocks fell on Wednesday after the latest corporate earnings that fueled existing concerns that some of the most outstanding US companies are struggling amid successive rate hikes and recession concerns.The Dow Jones Industrial Average snapped three days of gains, last down 80 points, or 0.24%. The Nasdaq Composite retreated …

Boeing stock is trading lower on Wednesday as the aerospace and defense company reported a fourth-quarter revenue miss and surprise earnings per share loss. For the quarter, Boeing delivered 152 airplanes in its commercial division, a jump of over 50% compared to a year ago. Boeing’s 110 737 planes were …

Following the Bank of Canada’s decision to raise the policy rate by 25 basis points to 4.5%, Bank of Canada (BoC) Governor Tiff Macklem delivers his remarks on the policy outlook and responds to questions. Key Remarks “Bank of Canada has raised rates rapidly, now it’s time to pause and …

The Bank of Canada has raised rates as expected, however, the Canadian dollar weakens after the rate policy announcement.The USD/CAD pair jumps but then pulls back toward 1.3400. the pair is trading at 1.3419, at the time of typing. The USD/CAD jumped by more than 50 pips after the decision …

The USD/CAD jumped by more than 50 pips after the decision of the Bank of Canada and climbed to 1.3425, reaching the highest level since last Friday. The Bank of Canada, as expected, raised the key interest rate by 25 basis points to 4.5%. In the statement, the central banks …

The Bank of Canada (BoC) announced on Wednesday that it hiked its benchmark interest rate by 25 basis points to 4.5% following the January policy meeting. This decision came in line with the market expectation. In its policy statement, the BoC noted that it is likely to hold the rate …