Market Update

Chinese President Xi Jinping said Tuesday, November 29, that China is ready to forge a closer partnership with Russia on energy issues to ensure global energy security, while the Group of Seven major countries are preparing to impose new measures on Russian oil exports. “China is ready to work with …

The dollar fell against a number of other currencies on Tuesday, and lost some of the gains it recorded at the end of the previous session, amid growing concerns due to the restrictions to combat the Corona virus in China. The dollar index, which measures the greenback against a basket …

Gold prices rose on Tuesday, supported by a weak dollar, as investors await more clarity on the Federal Reserve’s position regarding raising interest rates. Spot gold rose 0.7 percent to $1,753.34 an ounce at 0651 GMT. US gold futures rose 0.7 percent to $1,752.60. Bullion prices fell about 1 percent …

Japan’s Nikkei closed at its lowest level in a week on Tuesday, as COVID-19 protests in several Chinese cities raised concerns about economic growth. The Nikkei fell 0.48 percent to close at 28,027.84, the lowest level since November 21, while the broader Topix index lost 0.57 percent to 1,992.97. US …

On the surface everything revealed by Monday’s Dallas Fed Manufacturing Index reading is pointing in the direction the Federal Reserve wants to see. Employment is cooling and inflation pressures are giving signals fading, though, in reality, this is not the case with the US economy at large.In reality, order volumes …

The US session has been a big arena for volatility with beginning of the trading week. The US dollar has managed to edge higher up to 106.74 on Monday, slightly recovering from a three-and-a-half month low of 105.32 as investors are concerned about the pro global economic slowdown and the …

“The successive shocks to global supply chains from the pandemic and the war in Ukraine could ‘herald a shift’ to an era of more volatile inflation and force central banks to guard against it with tighter monetary policy,” Fed vice chair Lael Brainard said in remarks released on Monday by …

At the time of writing, EUR/USD is down some 0.29% falling to a low of 1.0338; sliding from a higher of 1.0496. Risk currencies, such as the Euro are under considerable pressure as protests against COVID restrictions in China weighed on the overall market sentiment.The violent protests in major Chinese …

Gold continues to decline starting the beginning of the US trading session on Monday, affected by the rise of the US dollar after changing its direction due to the markets’ focus on the current events in China.Gold futures fell to $ 1740 per ounce, versus the previous closing at $ …

The Canadian dollar extended its losses amid the market’s prevalent risk-off sentiment. Canada printed a deficit on its current account and this news could constitute a headwind for the Canadian dollar.The Canadian dollar extended its losses to two straight days, though it trimmed some of its losses after the USD/CAD …