Market Update

The Federal Open Market Committee released the Minutes of the December 14-15 Meeting, spurring little action across the major assets. The US Dollar was little changed with the news, although US short-term interest-rate futures dropped. Key Quotes Most participants welcomed inflation easing in October and November but agreed it would …

The Euro is retracing against the US dollar after hitting daily highs of 1.0635 and is dropping after the release of mixed US economic data, slightly boosted the US Dollar and shifting sentiment sour. At the time of writing, the EUR/USD is trading at 1.0610, above its opening price by …

Gold prices are receiving a push forward by the significantly positive market sentiment keeping the US Dollar offered.Investors cheered China’s planning to support the property market and the relaxation of its Covid zero-tolerance policy. A busy US economic docket keeps traders worried about the performance of the US Dollar while …

On Wednesday, Fed’s Neel Kashkari said he was wrong to have thought that inflation would prove “transitory” last year, and called for more rate hikes, suggesting that this will be appropriate in 2023 to continue bringing down price pressures. “While I believe it is too soon to definitively declare that …

Job openings in the US marginally declined in November. The US Dollar Index stages a rebound in the American session and was last at 104.35, where it was still down 0.3% on the day. The data published by the US Bureau of Labour Statistics, on Wednesday, indicated that the number …

Business activity in the US manufacturing sector contracted for the second straight month in December with ISM’s Manufacturing PMI declining to 48.4 from 49 in November. This reading came in slightly below the market expectation of 48.5.The US Dollar Index edged higher in an initial reaction and was last seen …

The dollar fell on Wednesday against commodity-linked currencies such as the Australian dollar and against the euro, which was supported by a batch of data indicating that European inflation may have run its course. The dollar was already under pressure from investors who were increasingly optimistic that China’s easing of …

The euro stabilized on Wednesday, January 4, and high-risk currencies recovered thanks to optimism that China’s lifting of Covid restrictions would boost growth, while investors’ focus shifted to US data and the Federal Reserve. The euro had lost 1% overnight, its biggest drop in more than two months after a …

European stocks extended their rally on Wednesday after a lower inflation reading in France boosted sentiment as investors await data on business activity in the eurozone and minutes from the Federal Reserve’s last meeting. The Stoxx 600 index of European shares rose 0.5 percent by 0808 GMT, while the French …

The Nikkei index of Japanese stocks closed at its lowest level in nearly ten months in the first trading sessions in 2023, tracking the impact of Wall Street’s decline last night, while sentiment was also affected by the rise of the yen against the dollar. The Nikkei index fell 1.45 …