Market Update

Significant events dominated price action across global financial markets last week, including Fed’s rate decision and US NFP data, namely the most important events of the monthFOMC Decision, US Rate Hike The Fed raised interest rates by 75 points last week, bringing the accumulative key rate to 4.00%, after raising …

The US dollar fell on Friday after the release of the country’s nonfarm payrolls report for October. The latest NFP reading indicated that the world’s largest economy created more new jobs than expected, but also flashed other signs of economic slowdown with a higher unemployment rate and lower wage inflation.The …

Oil climbed on Friday as the dollar eased and supply risks remained, though recession fears and China’s COVID outbreaks kept a check on prices.Brent crude futures were and were able to touch the high of $96.51 a barrel at 0740 GMT, and eventually closed at $94.14. The contract is headed …

News outlets published claims that Twitter’s entire curation team was fired. Elon Musk ended his first week as Twitter’s owner with an indelible mark by slashing, by some estimates, up to half of the company’s workforce with little notice and abruptly cutting off employees’ access to their computers and work …

The US economy added more jobs than expected in October even as the Fed pressed on with the central bank’s most aggressive monetary tightening campaign in decades.Friday’s figure effectively serves as a catalyst for Fed policymakers to proceed with further rate hikes, particularly after messaging from Fed Chair Jerome Powell …

The Australian dollar rallies 2.5% on the day to hit session highs at 0.6470. Risk appetite and the US employment report have boosted the AUD.The Australian dollar is going through an extraordinary recovery on Friday, rallying about 2.5% on the day amid a favorable market sentiment, to regain most of …

Global shares rose while the US dollar fell on Friday after better-than-expected jobs data provided clues the tightness in the American labor market was starting to ease, raising hopes the Federal Reserve could soften its stance on interest rates.Data from the Bureau of Labor Statistics showed the U.S. economy generated …

The Canadian employment data, o Thursday, surpassed expectations with a positive change in employment of 108K above the 10K of market consensus. The surge could be a signal that some of the declines seen over the summer were simply statistical noise. Accordingly, the data support the call for a further …

The American Dollar faces difficulty finding ground, it is down by 1.39%, as the US Dollar Index reading reflects. Speculations that the US central bank could tighten in smaller increases mounted as the labour market gave signs of easing.The US 2s-10s yield curve inversion, the deepest since the 1980s, and …

Some economists have revised down their EUR/USD forecast. Accordingly, the pair is expected to slump towards the 0.95 mark.It is not clear if the ECB can support the EUR with rates hikes. The EUR is not fully priced for the headwinds facing the Eurozone economy.There are no guarantees currently that …