Market Update

On Friday, all eyes will be on the US non-farm payrolls reading during the first week of a new month. The all-important data will be attentively watched by all market players to see whether the aggressive rate-rising policy of the US central bank is knocking the labour market which has …

The USD/CAD pair stopped its slump following US data that signaled further retreating economic activity in United States.The weaker-than-expected US ISM Manufacturing PMI triggered a fresh wave of Risk aversion in addition to comments by Fed’s Bowman who said there’s work to do by the US central bank.The USD/CAD pair …

Estonia is holding a hawkish stance insisting that capping the prices of oil to a level could have no impact on Russia’s war.Estonia is pressured by other EU member states in order not to go forward with the nation’s threat to veto a US-proposed cap on the price of Russian …

The ISM Manufacturing PMI dropped into contraction territory below 50 in November according to the latest data released on Thursday.US Dollar Index continues to push lower, losing more than 1% on the day. The Dollar seems under constant selling pressure following this report and the US Dollar Index was last …

Fed Governor Michelle Bowman said on Thursday that the headline and core inflation slightly slowed down but the latest readings are still unsatisfactorily high. Bowman also expects ongoing increases in rate hikes at coming meetings. According to her, policymakers still have a lot of work to do but it is …

Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, declined to 6% on a yearly basis in October from 6.3% in September, the US Bureau of Economic Analysis announced on Thursday. This reading came in below the market expectation of 6.2%. The annual Core PCE …

UK house prices fell more than expected in November, as rising borrowing costs affected market sentiment. British home prices fell by 1.4% in November, which is the largest monthly decline since June 2020, according to data from the Nationwide mortgage lender. On an annual basis, house price growth in the …

Germany’s Retail Sales decreased by 2.8% MoM in October versus -0.6% expected and 0.9% previous, the official figures released by Destatis showed on Thursday. On an annualized basis, the bloc’s Retail Sales came in at -5.0% in October versus the -2.8% expected and a 0.9% drop recorded in September. The …

European stocks rose to their highest levels in three months on Thursday, supported by the Federal Reserve chairman’s indication that the pace of rate hikes will be lowered, as well as China’s softening of its rhetoric on strict anti-Covid-19 rules. The Stoxx 600 was up 0.9% by 0810 GMT, after …

The dollar fell to a three-month low against the yen on Thursday, as investors focused on Federal Reserve Chairman Jerome Powell’s remarks about the possibility of slowing the pace of interest rate hikes “as early as December.” Powell said on Wednesday that slowing the pace at this point is a …