Market Update

The US dollar surged throughout the first half of the day helped by risk-off. Asian stocks spent the day with negative performance. European stocks trimmed their losses ahead of the close, but gains  were recorded to strong January on Wall Street. Economic Data The market’s sentiment improved following the release …

After seven consecutive increases in 2022, traders and investors expect the Fed to raise rates by 25 basis points on Wednesday, with increases of 50 basis points by the European Central Bank and the Bank of England on Thursday.If markets are expecting a 25 basis point hike and eventually a …

Oil prices closed steadily on Tuesday after recovering from a near three-week low, attracting support from the intraday weaker US dollar and on data showing that US demand for crude and petroleum products rose in November.The more active second-month Brent contract settled at $85.51 per barrel, up $1.09 or 1.29%, …

The EUR/USD pair is getting prepared for reaction to the key economic events this week, including rate decision by the Fed and ECB as well as Friday’s NFP data.EUR/USD is, therefore, seen at a crossroads trading at 1.0873 at the time of writing slightly up on the day by .015% …

The Employment Cost Index report released on Tuesday had an unusual impact across almost all financial markets, particularly the US dollar that weakened following the index reading.Analysts pointed out that the reading is one more inflation-linked indicator that is seen as easing. While the report supports inflation moving back toward …

The Sterling continued to weaken versus the US dollar ahead of the Fed’s interest rate decision. US inflation continues to impact the pair as the Employment Cost Index drops. The International Monetary Fund expects the UK economy to hit a recession in 2023. The Sterling has extended its losses for …

ExxonMobil stock dipped before recovering in premarket trading on Tuesday, after confirming expectations of one of corporate America’s biggest ever annual profits. The oil and gas group said it made $12.8 billion in the final quarter of the year, bringing total profit for 2022 to $55.7B. Reported earnings per share at $3.09 …

Official data showed on Tuesday that Turkey’s foreign trade deficit rose 137 percent year-on-year to $109.54 billion in 2022, according to the general trade system. The deficit increased in December by 42 percent from the previous year. According to data from the Turkish Statistical Institute, exports rose in 2022 by …

Over the past year, the Bank of England (BoE) has increased its interest rate from almost zero to 3.5%, adopting a more aggressive escalation policy during the second semester as the inflation rate soared to double digits for the first time in nearly fifty years. The Fed signalled a slowdown …

The dollar rose on Tuesday, ahead of an expected series of central bank decisions, but remained on track for its fourth straight monthly loss. The Federal Reserve is set to set interest rates on Wednesday and this will be followed by interest rates from the European Central Bank and the …