Market Update

The major US benchmarks are trading up as investors buy ahead of new year holidays. The major US Indexes are moving higher on Tuesday as stocks struggle to hold their gains ahead of the Christmas. However, the limited rebound is considered as a sign that New Year’s Rally is imminent.Equities …

The GBP/USD is approaching a quarterly peak as market emphasis is currently on a test of 1.2080 for the coming sessions.If the bears fail to break this level of support, then a meaningful correction to the upside will be on the cards. The GBP/USD pair is still on the backside …

The Japanese Yen is soaring across the board after the Bank of Japan’s rate decision. The GBP/JPY pair cross is losing more than 700 pips on Tuesday amid rallying yen following the BoJ’s monetary policy announcement. BoJ’s rate decision also raised the upper range of its yield curve control of …

According to the Federal Reserve Bank of Atlanta’s GDPNow model, the growth of the US economy is expected to record an annualized rate of 2.7% in 2022’s fourth quarter, slightly down from 2.8% in previous estimates.“After this morning’s housing starts report from the US Census Bureau, the nowcast of fourth-quarter …

Former FTX CEO has agreed to be extradited to the United States, but Sam Bankman-Fried also announced that he wanted to see the accusation statement filed against him in New York before agreeing to extradition.FTT price noted a 7.7% decline in the last 24 hours, recording fresh lows around $0.860. …

Retail Sales in Canada, for October, unexpectedly surged, however, the USD/CAD pair is trading in negative territory, holding slightly above 1.3600. Retail Sales in Canada rose by 1.4% on a monthly basis in October following September’s 0.6% decline, the data published by Statistics Canada revealed on Tuesday. The latest reading …

European stocks fell on Tuesday, dragged down by declines in real estate and technology stocks, after Japan’s central bank rattled global markets with a sudden policy shift that would allow long-term interest rates to rise further. The pan-European Stoxx 600 index was down 0.9 percent by 0808 GMT, its lowest …

The Japanese Nikkei index ended trading on Tuesday at its lowest level in two months, and the yield on government bonds for ten years recorded the highest rise in seven years, after the central bank surprised investors by allowing a hike in long-term interest rates. The Nikkei fell 2.46 percent …

Gold prices rose on Tuesday on a weaker dollar, although lingering concerns about the Federal Reserve’s interest rate hike kept non-profit metals’ gains in check. Spot gold rose 0.3 percent to $1,791.91 an ounce by 0636 GMT, and US gold futures rose 0.1 percent to $1,800.20 an ounce. And the …

The United States has become a global exporter of crude oil over the past few years, but its exports have never exceeded its imports since World War II. This may change next year. US crude oil sales to other countries are now at a record 3.4 million bpd, with exports …