Market Update

The dollar fell on Wednesday against commodity-linked currencies such as the Australian dollar and against the euro, which was supported by a batch of data indicating that European inflation may have run its course. The dollar was already under pressure from investors who were increasingly optimistic that China’s easing of …

The euro stabilized on Wednesday, January 4, and high-risk currencies recovered thanks to optimism that China’s lifting of Covid restrictions would boost growth, while investors’ focus shifted to US data and the Federal Reserve. The euro had lost 1% overnight, its biggest drop in more than two months after a …

European stocks extended their rally on Wednesday after a lower inflation reading in France boosted sentiment as investors await data on business activity in the eurozone and minutes from the Federal Reserve’s last meeting. The Stoxx 600 index of European shares rose 0.5 percent by 0808 GMT, while the French …

The Nikkei index of Japanese stocks closed at its lowest level in nearly ten months in the first trading sessions in 2023, tracking the impact of Wall Street’s decline last night, while sentiment was also affected by the rise of the yen against the dollar. The Nikkei index fell 1.45 …

On Tuesday, the US dollar soared against all of its major rival currencies. The dollar started the day on the back foot, but secured robust gains early during the European session, triggering stops and further accelerating its advance. Key Developments EU countries reached an agreement on a coordinated approach to …

The Dollar Index climbed to near two-week high around 104.65 after a solid recovery from 103.00. The GBP/USD pair has shifted its performance below the psychological support of 1.2000 in the early Asian session. The pair failed in taking control above the 1.2000 mark amid risk aversion. A significant drop …

The Japanese yen was down slightly on the day at 130.77 after earlier hitting a six-month high of 129.51 against the US dollar. At the time of writing, the USD/JPY pair is trading at 131.32 at the time of writing. The yen’s latest rally followed a Nikkei report on Saturday …

Tesla delivered 405,278 vehicles in the fourth quarter of 2022. It is a record result for a quarter, but Wall Street was looking for closer to 420,000 electric vehicles.Fourth quarter deliveries have been disappointing, and Tesla’s shares are dropping while Wall Street analysts are closely watching price targets. Wall Street …

WTI, the US crude oil benchmark retreats more than 3% on Tuesday, due to increased concerns of diminishing demand from China, as the country battles spurring Covid-19 cases amidst increasing worries for a worldwide recession. At the time of writing, WTI is trading at $77.42 per barrel, below its opening …

The US dollar has recovered momentum during the US session as market sentiment deteriorates. The Swiss Franc falls across the board, so, the EUR/CHF pair rises toward 0.9900. The pair has best performance in weeks, gains 1.40%. The USD/CHF pair is rising sharply on Tuesday amid a stronger US dollar …