The dollar rose on Monday in the first trading sessions in the new year, moving away from its lowest level in six months, which it reached recently, against a basket of major currencies. But this rise came after a recent decline as markets bet that the Federal Reserve will soon …
Read More »Inflation in Turkey fell to 64.27% in December
Turkey’s annual inflation fell to 64.27 percent in December, official data showed on Tuesday, below expectations, after hitting a 24-year high in October. The Turkish Statistical Institute said consumer prices rose 1.18 percent month-on-month, compared to the 2.7 percent expected in a Reuters poll. On an annual basis, expectations were …
Read More »Oil is recovering from early losses
Crude oil prices moved in a narrow range on Tuesday, as expectations about the future of demand were affected by a weekly survey that showed shrinking factory activity in China and the International Monetary Fund’s warning that the global economy will face a difficult year. Brent crude futures recovered from …
Read More »Positive industry data gives European stocks a strong start to the new year
European stocks rose on Monday in the first trading sessions of 2023, as eurozone manufacturing data indicated that the worst had passed after a year marred by fears of a recession as central banks around the world raised interest rates. The STOXX 600 rose 1 percent, supported by the stocks …
Read More »Market Drivers – US Session 02/01/2023
The US Dollar was starting the year higher, advancing against most of its major rival currencies but ended it unevenly across the FX board. The EUR was the weakest, as EUR/USD retreated from the 1.0700 area towards the current 1.0650 price zone, while the AUD was the strongest, with AUD/USD …
Read More »Retail commodity investors’ fears accelerate about volatility
Though commodities have been the best-performing asset class for two years, according to Bank of America, experts have warned of market volatility as trading volumes of gold, oil, silver and copper have surged Retail investors are attracted to commodity trading after two consecutive years of plentiful returns, despite concerns that …
Read More »EUR/JPY retreats with expected pressures ahead
The EUR/JPY pair fell below the 140.00 mark as the cross dives below the 200-DMA and the 20-day crosses below the 100-DMA.The EUR/JPY drops 2.40% below the 200-day Exponential Moving Average (EMA) at 140.18, extending its losses to three consecutive trading days, falling since peaking around the last week’s high …
Read More »USD/CHF Climbs on broader US dollar’s strength
The USD/CHF pair’s decline has stopped around 0.9200 as a triple bottom emerged. A falling wedge and oscillator flashing selling pressure waning could pave the way for further upside in the pair.The Swiss Franc bounced at around 0.9200 and climbs toward 0.9250s during the US session, which witnessed low liquidity …
Read More »NZD/USD falls on Chinese activity slowdown
NZD/USD retraces after hitting 0.6370, as investors’ sentiment is positive on the first day of trading in the new year.Weaker than expected, China’s PMIs would likely hurt the NZD/USD climbing prospects to the 0.6400 area. The New Zealand Dollar also retraces from two-week highs around 0.6370s vs. the US dollar …
Read More »EUR/USD struggles around two-week high
The Euro sheds some ground against the US dollar on the first trading day of 2023 amidst thin liquidity conditions in the financial markets. The release of S&P Global PMIs in the Eurozone failed to bolster the shared currency on Monday. At the time of writing, the EUR/USD is trading …
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