Market Update

The US Dollar Index can explain Tuesday’s “hanging man” candlestick pattern to record mild losses ahead of the key FOMC’s policy decision on Wednesday.The US Dollar Index (DXY) renews its intraday low around 111.40, mildly offered while extending the previous day’s losses, as traders await the result of FOMC meeting …

According to Bundesbank President Joachim Nagel, the European Central Bank has a long way to go before it is done with interest rate hikes and it should also start reducing its oversized holding of government debt at the start of next year. “We should start shrinking our bond portfolio at …

The EUR/USD pair sits back into neutral territory as markets get prepared for the Fed’s policy decision. Traders are on look out for a pivot in the chair’s tone.The EUR/USD is sitting tight in mas investors await the outcome of the Fed this week while investors worry over a potential …

The British pound has given away gains and dives to US session lows at 1.1450 after the positive US economic data dampened hopes of a Fed pivot in December. The pound has lost nearly 100 pips in a matter of minutes, following the release of a set of positive US …

The average household in Ghana is paying two-thirds more than it did last year for fuel, flour and other necessities. In Egypt, wheat is expensive and the governmental budget suffers from bread subsidy provided to citizens. Sri Lanka is struggling to control a political crisis, and is running out of …

US bonds rallied while new warnings are raised that a recession is inevitable in the United States ahead of Fed’s two-day policy meeting for November which is expected to result in a fifth-straight outsized rate hike.Traders are digesting the ISM manufacturing data for further clues on the state of the …

Gold price advances in the North American session benefiting from the retreating US Treasury yields which weakened the US dollar, following the release of solid US data, specifically factory activity. Traders observed a risk-on in the equities market, spurred by speculations that China is adjusting to exit its zero-tolerance Covid-19 …

The number of job openings in the US increased to 10.7 million on the last business day of September, the US Bureau of Labor Statistics reported in its Job Openings and Labour Turnover Summary (JOLTS) on Tuesday.This print came in higher than the market expectation of 10 million. “The number …

Thomson Reuters (TRI) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.46 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 16.33%. A quarter …

The US dollar slipped on Tuesday from a one-week high against a basket of major counterparts, as sentiment improved in financial markets ahead of the Federal Reserve and Bank of England meetings scheduled for this week. The Federal Reserve is widely expected to raise its key interest rate by 75 …