Market Update

The USD/JPY pair has declined below the 141.50 zone, hitting a daily low of 141.28. Stealth intervention by the BoJ gives the Japanese yen considerable traction. The pair is trading at 141.27 at the time of writing. Cautious market mood amid PBoC rate cut is expected to limit the Yen …

The yuan tumbled to a seven-month low on Tuesday after China cut interest rates, while the Swedish krona slid to its lowest level since 2009 against the euro on persistent concerns about the real estate sector. China cut the key interest rate for one-year and five-year loans by 10 basis …

Gold rose on Tuesday as the dollar fell, but gains remained limited as traders await Federal Reserve Chairman Jerome Powell’s testimony before Congress later this week to get a clearer picture of the path of interest rates. Gold spot transactions increased 0.15 percent to $ 1952.98 an ounce by 0926 …

German stocks led losses among European bourses on Tuesday, with speciality chemicals Lanxess falling after the company cut its forecasts, and a modest rate cut in China failed to lift investor sentiment. Germany’s DAX fell 0.3% by 0750 GMT, further away from Friday’s record high. The pan-European Stoxx 600 index …

Chinese government data showed on Tuesday that oil imports from Russia rose to an unprecedented level in May, as private refineries continued to flock to Russia’s Espoo and Urals crudes at discounted prices amid sanctions imposed on them. According to data from the General Administration of Customs, total oil imports …

Oil prices fell on Tuesday after China cut its benchmark lending rates less than expected, raising further concerns about the outlook for oil demand in the world’s largest crude importer. Brent crude fell five cents to $76.04 a barrel at 0310 GMT. US West Texas Intermediate crude for July delivery …

As US markets were closed in observance of the Juneteenth Holiday, markets have had a tranquil start to the week with no data. The American Dollar partially recovered from the enormous losses of the previous week, but it is still struggling as Gold stays around $1,950 per troy ounce and …

After a gloomy start to the week, the GBP/USD picks some upside momentum as it rallies to 1.2800 in the early hours of Tuesday’s Asian session. In doing so, the Cable pair oscillates within a one-week bullish trend pattern, reaching its highest levels in 14 months. To counter the week’s …

Under pressure from the US dollar’s recent, gold price has been declining since the beginning of daily trading, Monday, amid the American Juneteenth holiday amid thin liquidity and the absence of catalysts that would move the markets.Gold futures fell to $1,950 an ounce, compared to the previous daily closing of …

The price of natural gas is still rising following one of the best weeks of 2023, which saw a 17% increase. After disruptions in Norway, the continent’s primary producer, there are still doubts over whether European supply can keep up with demand. Despite strong fundamentals, as long as prices are …