Market Update

The AUD/USD pair is trading within a narrow range of 0.6484-0.6500 as investors are awaiting the release of the US Gross Domestic Product (GDP) data for fresh stimulus and clues. The asset is facing a time correction after refreshing its three-week high at 0.6511 amid an improvement in the risk …

The European Central Bank is going to announce its monetary policy decision on Thursday. Policymakers, led by President Christine Lagarde, are expected to finally abandon their cautious approach to quantitative tightening. Europe’s CPI reading reached record highs, so, the European central bank will have to decide another 75 bps rate …

Gold is on the edge of an important bullish reversal, but it all depends on the Fed’s policy expectations. Technically, the bulls need to hang on above hourly support and break a daily H&S neckline. US bond yields have slipped on expectations that the Federal Reserve will temper its aggressive …

WTI soared during the US session. The American crude is boosted by the overall US Dollar weakness as the dollar declines more than 1%, while WTI’s exports hit an all-time high due to domestic refiners operating at a higher level. At the time of writing, WTI is trading at $88.05 …

Shares of Alphabet dipped as much as 8% on Wednesday, a day after the company released third-quarter earnings that missed on the top and bottom lines. Revenue growth slowed to 6% from 41% a year earlier as the company contends with a continued downdraft in online ad spending.It has become …

Bank of Canada Governor Tiff Macklem responded to questions from the press following the bank’s decision to raise the policy rate by 50 basis points to 3.75%.The USD/CAD pair continues to trade in negative territory following the press conference and was last seen losing 0.35% on the day at 1.3560.Key …

The European Central Bank will announce its decision on monetary policy on Thursday, October 27 at 12:15 GMT and as markets get closer to the release time, here are the expectations as forecast by the economists and researchers of 15 major banks.Economists broadly expect the ECB to raise borrowing costs …

The data published by the US Census Bureau showed on Wednesday that the US international trade deficit widened by $4.9 billion to $92.2 billion in September from $87.3 billion in August. The US Dollar Index recovered slightly from multi-week lows it touched earlier in the day and was last seen …

Mercedes-Benz (MBGn.DE) raised its full-year profit forecast on Wednesday as strong demand for luxury cars and cost savings offset the supply chain bottlenecks that have hampered industry output this year. The German automaker said it now expected group earnings to rise at least 15% this year, compared with a previous …

Gold rose on Wednesday as the dollar and US Treasury yields fell amid expectations that the Federal Reserve may slow the pace of interest rate hikes. And gold rose in spot transactions 0.7 percent, recording 1663.26 dollars an ounce by 0644 GMT. US gold futures rose 0.6 percent to $1,667.10 …