Market Update

The EUR/USD pair extends gains above 0.9900 and the next barrier is at 1.0015. the Euro gains more than 400 pips from last week’s low. On the other hand, the US Dollar retreated across the board on risk appetite and lower US yields.The EUR/USD rose even further during the American …

European Central Bank President Christine Lagarde said on Tuesday it was difficult to say whether or not inflation has peaked in the euro area.“The minimum that we have to do is to stop stimulating demand,” Lagarde added. These comments don’t seem to be having a noticeable impact on the shared …

The Kremlin said Tuesday (October 4) that Tesla founder Elon Musk has outlined a possible peace deal with Ukraine as a “positive step,” hours after Kyiv criticized Musk’s call for a negotiated settlement to the seven-month conflict.Kremlin spokesman Dmitry Peskov told reporters on a conference call that Moscow was always …

Oil prices rose on Tuesday amid expectations that the OPEC+ group may agree to a significant cut in crude production when it meets this week. Brent crude futures rose 79 cents, or 0.9 percent, to $89.65 a barrel by 1054 GMT, after gaining more than 4 percent in the previous …

The Kremlin said Tuesday (October 4) that Tesla founder Elon Musk has outlined a possible peace deal with Ukraine as a “positive step,” hours after Kyiv criticized Musk’s call for a negotiated settlement to the seven-month conflict. Kremlin spokesman Dmitry Peskov told reporters on a conference call that Moscow was …

The dollar fell on Tuesday as US Treasury yields stopped rising after a wave of increases, which provided an opportunity for stock markets and helped the euro and pound to catch a breath and recover from multi-year lows. The Australian dollar was also eye-catching, as it fell by about one …

Gold prices hit a three-week high on Tuesday, prompting all precious metals to gain, with the dollar and US Treasury yields falling again after hitting their highest levels in years, restoring the allure of the non-yielding precious metal. And gold rose in immediate transactions 2.5 percent to $ 1707.20 an …

Turkey’s Trade Ministry announced on Tuesday that the country’s trade deficit jumped 298 percent year-on-year in September to $10.384 billion, as rising energy import costs continue to cause the deficit to grow. The data showed that exports grew by 9.2 percent to $22.62 billion in September, while imports jumped 41.5 …

Japan’s Nikkei index jumped 3 percent on Tuesday in its best session in more than six months, as investors flock to blue-chip and hard-hit growth-related stocks and following Wall Street’s sharp rally at the close in the evening. The Nikkei rose 2.96 percent to 26,992.21 points, supported by broad buying, …

Most economists expect the Reserve Bank of Australia to decide one more big rate hike on Tuesday before shifting to slower moves in the near future. With a majority of Australian mortgages on adjustable rates, policymakers could issue a decision that is weighing inflation control and currency support against a …