Market Update

The GBP/USD pair has gained over 1.7% and benefited from the US dollar’s decline on Tuesday. It is convenient to say that UK politics saved the day for sterling bulls. The pair is trading at 1.475Investors welcomed Rishi Sunak as the new UK prime minister where, in his first speech, …

WTI crude oil rose on Tuesday on recession linked concerns. The overall scene boosted risk assets to rally. Output cut by OPEC+ next month as well as the Fed’s policy decision on November 3 are two additional factors. WTI crude oil trades at $84.69 per barrel, trading 0.17% higher between …

The good old days when Rishi Sunak was finance minister are practically different from the days awaiting him as prime minister. The UK government seems under pressure to show how it will keep borrowing and how to restore Britain’s fiscal credibility in markets.With more than two years as finance minister …

The USD/CAD pair falls below its opening price by 0.57% as expectations and bets accelerate on Fed’s intention to slow the pace of policy and monetary tightening. These bets do weaken the US Dollar.Disappointing US housing data and consumer confidence deterioration also hurt the American dollar. Estimates refer to the …

On Tuesday, the brighter market sentiment hurt the USD, which lost ground against its main peers. The Australian dollar, on the other hand, abandoned previous weakness and surged nearly 100 pips in the early US Trading session, reaching above 0.6400. The AUD/USD pair appreciates 1.3% on the day, to erase …

Gold price advances early in the New York session, up by 0.33% on falling US Treasury yields, while bonds climb amid further expectations that Fed could slow the pace of its rate hikes and monetary tightening measures. The US dollar weakened, constituting a chance of momentum for the precious metal. …

Consumer confidence in the US deteriorated in October. The US Dollar Index trades deep in negative territory below 111.00. the Dollar Index reading at the time of writing is 110.84. The data published by the Conference Board showed on Tuesday that the Consumer Confidence Index declined to 102.5 in October …

Gold prices fell on Tuesday as the dollar stabilized, but expectations that the Federal Reserve would slow the pace of interest rate hikes limited the precious metal’s losses. Spot gold fell 0.5% to $1,640.62 an ounce by 1238 GMT, while US gold futures fell 0.6 percent to $1,644.70. The dollar …

The monthly data published by the US Federal Housing Finance Agency showed on Tuesday that the Housing Price Index fell by 0.7% on a monthly basis in August. This print followed July’s decrease of 0.6% and came in lower than the market expectation of -0.3%. Meanwhile, the S&P/Case-Shiller Home Price …

The Coca-Cola Company raised its forecast for its full-year financial results Tuesday, October 25, after beating expectations for its quarterly earnings and revenue. The company also provided an outlook towards 2023 saying it expects inflation to continue to drive up its expenditures and commodity prices to remain volatile. However, the …