Market Update

Speedy US rate hikes raised the risk of recession, but it is likely to be caused by an outside shock rather than from the collapse of the American economy that remains robust according to statements by St. Louis Fed president James Bullard.Bullard said, at an economic forum in London, that …

Consumer sentiment in the United States has continued to improve throughout September, meanwhile, the US Dollar Index rebounded to the 114.205 area with the initial reaction to the data.With the initial reaction, the US Dollar Index extended its recovery and was last seen posting small daily losses at 114.02.Tuesday’s data …

The Bank of England is expected to decide an important policy response to finance minister Kwasi Kwarteng’s financial plan embodying tax cuts but, the central bank could wait until its next scheduled meeting in November before making such a move according to BoE Chief Economist Huw Pill.The British pound gathered …

U.S. house prices fell in July for the first time in two years, as the market underwent a “forceful deceleration” due to rising borrowing costs and a slump in consumer confidence. The monthly data published by the US Federal Housing Finance Agency showed on Tuesday that the Housing Price Index …

Durable Goods Orders in the US declined by 0.2%, or by $0.6 billion, monthly in August to $272.7 billion, the monthly data published by the US Census Bureau revealed on Tuesday. This reading came in better than the market expectation for a decrease of 0.4%. The US Dollar Index showed …

Cryptocurrency markets witnessed a sudden upward movement in the early hours of Tuesday as the price of Bitcoin (BTC) again reclaimed the $20,000 level. The leading cryptocurrency, which traded below $19,000 on Monday, is up 6.4% over the past day, and is currently trading at a 10-day high of $20,199, …

The British pound rebounded on Tuesday, but its trading was mostly built on hope, profit taking and higher British yields, leaving traders anxious about the broader implications of its record decline. With the dollar weakening, sterling rose by one percent in Asia to $1.0805, up nearly five percent from Monday’s …

The Kremlin said on Tuesday it did not rule out sabotage as a cause of damage to the Nord Stream pipeline network built by Russia in the Baltic Sea. The pipeline operator said on Tuesday that three offshore lines had suffered “unprecedented” damage in a single day. Asked if sabotage …

Gold prices jumped 1 percent on Tuesday as the dollar weakened, although the Federal Reserve’s expectations of a further interest rate hike kept the precious metal near its lowest level in two and a half years. And the price of gold in spot transactions increased by 1.1 percent to 1639.94 …

Japan’s Nikkei closed higher on Tuesday, led by blue-chip Fast Retailing, as investors scrambled to buy shares battered by a global sell-off, with the US Federal Reserve repeating its stance of maintaining its hawkish policy of raising interest rates. The Nikkei index closed up 0.53 percent at 2,6571.87 points, rebounding …