Market Update

The latest interest rate hike decided by the Fed was a shock for the USD/CAD on Wednesday, dragging the pair to fresh year-to-day lows. Falling oil prices and solid US labour market data underpinned the pair. As expected, USD/CAD traders are eyeing Friday’s US Nonfarm Payrolls data alongside ISM Non-Manufacturing …

Wall Street is rallying on Thursday, led by enthusiasm mainly stirred by tech stocks and a significant surge of Meta; Facebook’s parent company.The S&P 500 was 1.5% higher in midday trading a day after hitting its highest level since August. The Nasdaq composite was 3.1% higher, as of 12:35 p.m. …

The WTI crude oil dropped to the %75s and now the daily chart shows the price breaking the trendline support. Oil is now correcting higher to $76.70 resistance. At the time of writing, the US crude is trading at $76.86 per barrel. The objective of escaping the $75s territory was …

Shares of the social media giant exploded nearly 20% in pre-market trading on Thursday after earnings report missed market expectations. Investors have long loved Meta for its ability to print money but soured on the name in 2022 amid slowing sales and fresh restructuring efforts. But they may now be …

Bitcoin prices touched their highest since mid-August last night. Bitcoin prices even climbed last night, surpassing $24,000 and rising to their loftiest value since mid-August.The world’s most prominent digital currency reached $24,243.80 around 8 p.m. EST, according to CoinDesk data. At this point, the cryptocurrency had climbed over 6% in …

Gold seems unable to benefit from the falling US Treasury. On the other hand, the US dollar recovered some ground, on the back of the Euro and Pound Sterling fall. On Wednesday, the US Federal Reserve hiked rates by 25 bps and signaled it is about to end its cycle. …

The Euro fell against the Dollar on Thursday after the European Central Bank raised interest rates by 50 basis points in line with expectations while the Bank of England adopted a softer tone on inflation. The ECB plans to raise rates by the same amount at least once more next …

There were 183,000 initial jobless claims in the week ending January 28, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 186,000 and came in better than the market expectation of 200,000. Further details of the publication …

The US labour productivity rose for the second consecutive quarter in 2022’s fourth quarter, although for the year as a whole productivity posted its biggest decline in nearly five decades.US nonfarm labour productivity which is a measure of goods and services produced in the US per hour worked, rose at …

Bank of England (BoE) Governor Andrew Bailey is delivering his remarks on the policy outlook and responding to questions from the press following the bank’s decision to hike the policy rate by 50 basis points to 4% in February. “Change in language reflects a turning in the corner but very …