Market Update

The US dollar capitalized on Monday’s prevalent risk aversion and negative market sentiment to edge higher. Risk aversion dominated markets after China’s National Health Commission reported death cases of Covid-19 patients in Beijing. China also reported over 26,000 new infections on Sunday. Commodity-linked currencies ended the day with losses against …

San Francisco Federal Reserve President Mary Daly said on Monday that she is not prepared to say what hike the Fed should do at December’s Federal Open Market Committee. Daly insists that all options are available, so she is not taking anything off the table for December.Daly believes that at …

The world’s most famous cryptocurrency held steady at $15,824 on Monday at the time Wall Street opened following a weekly close at levels not seen since late 2020. At time of writing, bitcoin is trading around $15,780.Coinbase lost over 25% of its value in only four trading sessions as investors …

On Monday, oil prices recovered from earlier losses after Saudi Arabia had denied news alleging that it was discussing an increase in oil output with OPEC and allies. Brent crude futures for January settled at $87.45, shedding 17 cents. WTI crude futures for December settled at $79.73 per barrel, falling …

Interviewed by Dubai TV, Mohamed Hashad, the Head of Research and Development at Noor Capital and member of the US Association of Technical Analysts, commented on the latest developments in financial markets, most notably, the following: First: OilHashad noted that there was an obvious decline in oil prices as last …

US stocks retreated amid growing worries that China could tighten Covid curbs after reported deaths over the weekend. Concerns about the growth outlook in the US as the Fed policymakers vow to fight inflation also continue to direct decisions by most investors. The technology sector dragged S&P 500 lower. The …

The Australian dollar fell for the fourth straight day due to risk aversion after reports said the latest China Covid-19 outbreak caused three deaths during the weekend. China’s authorities eased some restrictions. The news boosted the US dollar amid growing concerns about reimposing lockdowns.Wall Street is witnessing investors who are …

The GBP/USD has dropped below 1.1900 on the market’s prevalent risk aversion, with the first US trading session of this week.Risk aversion prevails amid a light calendar, but latest remarks by Fed policymakers have given direction to the GBP/USD pair’s performance.The Pound Sterling fell sharply below the 1.1900 figure in …

The EUR/USD pair has maintained the corrective downside well for another trading session and threatens to challenge the key support around the 1.0200 sooner rather than later.With the opening bell of an uneventful session, the US dollar extends the recent comeback by the recent hawkish messages by Fed policymakers. Statements …

U.S. Treasury yields climbed Monday as investors awaited further clues about the Federal Reserve’s monetary policy plans from central bank speakers and fretted over the inflation outlook. The yield on the benchmark 10-year Treasurywas trading around 3.827% at around 8:00 a.m. ET, after rising about 1 basis point. The 2-year …