Market Update

The USD/CHF pair’s decline has stopped around 0.9200 as a triple bottom emerged. A falling wedge and oscillator flashing selling pressure waning could pave the way for further upside in the pair.The Swiss Franc bounced at around 0.9200 and climbs toward 0.9250s during the US session, which witnessed low liquidity …

NZD/USD retraces after hitting 0.6370, as investors’ sentiment is positive on the first day of trading in the new year.Weaker than expected, China’s PMIs would likely hurt the NZD/USD climbing prospects to the 0.6400 area. The New Zealand Dollar also retraces from two-week highs around 0.6370s vs. the US dollar …

The Euro sheds some ground against the US dollar on the first trading day of 2023 amidst thin liquidity conditions in the financial markets. The release of S&P Global PMIs in the Eurozone failed to bolster the shared currency on Monday. At the time of writing, the EUR/USD is trading …

The US Dollar has regained some momentum and managed to climb against the Canadian counterpart. The USD/CAD pair bounces off nearby the 50-day Exponential Moving Average (EMA) at 1.3532 and rises toward the 20-day EMA, during the first trading day of 2023 in the US session, so, the pair is …

European stocks rose in the first trading session of 2023 on Monday, after a difficult year marred by fears of a recession sparked by global central banks’ hike in interest rates and the Russia-Ukraine war. The pan-European Stoxx 600 index was up 0.5 percent at 0810 GMT, supported by interest …

The British government announced the termination of all gas contracts with the Russian government, and the British Foreign Office indicated that the decision comes to undermine the Russian war in Ukraine. The United Kingdom’s Foreign, Commonwealth and Development Office announced that it had ended all imports of Russian liquefied natural …

Bitcoin and Ethereum prices erased their gains from the overjoyed 2022’s highs under rising selling pressure in the bear market.Economic data in November, followed by December signaled recession in the United States as well as in Europe to apparent levels while the Fed’s stance could continue its hawkish path. Traders …

China has announced an extension of trading hours for foreigners on the yuan with the aim of supporting the currency’s popularity. Trading on the yuan will close at 3 am local time instead of 11:30 pm, starting on January 3, according to the People’s Bank of China. This decision comes …

For the last three days of trading in the previous week, most trading has been done amid thin market, namely with the number of buyers and sellers at a minimum. This brought about significant volatility and low liquidity.Volatility was on the rise during the last hour of trading of the …

Wall Street was dragged lower by losses in growth and healthcare equities during the final trading day of a tough year, which was marked by aggressive stance and recurrent interest-rate hikes to keep inflation under control in addition to the ongoing Russia-Ukraine war and recession woes.The losses made communication services, …