Market Update

News about FTX, Alameda Research and affiliated companies filing for bankruptcy, is putting additional pressure on crypto assets. Bitcoin is trading at $16700 at the time of writing, down -$843 or 4.75% versus the previous closing price at $17551on a bullish spark ignited early Friday. The cryptocurrency market will likely …

WTI is trimming some of its weekly losses and seems boosted by a weaker US dollar. At the time of writing, WTI crude is trading at $88.26 per barrel as easing inflation in the United States destabilized the dollar as traders look forward to less aggressive Fed’s stance. China’s refineries …

The sterling extended its gains towards 1.1790s after a soft US inflation report. The US Dollar sharplyfalls during the US session, as the US Dollar Index edged down 1.20%, below the 107.000 mark.The Consumer sentiment reading in the United States worsened as inflation expectations rose. The Pound Sterling keeps rising …

Bank of England policymaker Jonathan Haskel said on Friday that it is important for the monetary policy to stand firm against the risk of persistent inflationary pressure, as reported by Reuters.GBPUSD showed no immediate reaction to these comments and was last seen rising 0.6% on the day at 1.1780.Key Quotes“Concern …

Consumer confidence in the US deteriorated in early November. US Dollar Index stays deep in negative territory below 107.00. Consumer sentiment in the US weakened in early November with the University of Michigan’s (UoM) Consumer Confidence Index falling to 54.7 (flash) from 59.9 in October. This reading came in below …

Gold prices are headed for their biggest gain in more than two years after extending their gains on Friday, as signs of slowing inflation boosted hopes that the Federal Reserve may shift to easing monetary policy. Spot gold rose 0.1% to $1,756.54 an ounce by 1127 GMT, after rising more …

Official data showed the British economy contracted 0.2% in the three months to September, which is expected to be the start of a prolonged recession. Experts polled by Reuters had forecast a larger contraction of 0.5 percent of the gross domestic product in the third quarter. The Bank of England …

Investors are dumping the dollar as weaker-than-expected US consumer price data boosted hopes the Federal Reserve will ease monetary policy tightening in smaller-than-expected increases in its fight against inflation. The range of the dollar’s movements against several currencies on Thursday was significant. By 1730 GMT, the US currency was down …

European shares opened higher on Friday, as news of China’s easing of strict Covid rules boosted stocks related to primary and luxury goods, which were also supported by better-than-expected sales data and margins from Richemont. The Stoxx 600 index rose 0.4 percent by 0812 GMT, and Swiss luxury goods Richemont …

Japan’s Nikkei index ended Friday’s trading at a two-month high, boosted by a rally in Tokyo Electron and other growth-related shares, as markets tracked Wall Street after signs of lower inflation bolstered hopes the US central bank would slow the pace of interest rate hikes. The Nikkei jumped 2.98 percent …