Market Update

Oil prices fell on Tuesday, amid fears of slowing economic activity and lower demand for fuel from China, in light of its adherence to its strict policy to contain the Coronavirus known as (Zero Covid). Brent crude futures fell 41 cents, or 0.45 percent, to $91.21 a barrel by 0948 …

The German ZEW headline numbers for October showed that the Economic Sentiment Index improved to -59.2 while beating estimates of -65.7 vs. -61.9 previous. Meanwhile, the Current Situation sub-index arrived at -72.2 in October vs. -68.0 expectations and September’s -60.5. The Eurozone ZEW Economic Sentiment Index stood at -59.7 in …

Gold prices rose on Tuesday, as a weaker dollar made bullion more attractive to overseas buyers, although risks from an impending Federal Reserve interest rate hike pared gains. And the gold price in spot transactions rose 0.2 percent to $ 1653.31 an ounce by 0709 GMT. But US gold futures …

The US dollar was softer at the beginning of the trading week as UK news impacted global government bonds and the demand on the American currency. The AUD/USD pair trades around 0.6280 after failing to retain gains above 0.6300, while USD/CAD is down to 1.3720, despite discouraging Canadian data. The …

Gold resisted higher real rates, strong dollar and fund outflows, but the precious metal is still vulnerable to further decline.Gold is experiencing some buying interest around $1,650.00 despite bets for bigger rate hikes by the Fed. On Monday, the precious metal eased the majority of the gains despite mayhem in …

The Japanese yen has hit a new 32-year low. One major question among investors and traders now is: Will the BoJ intervene again this week?The yen has declined nearly 30% against the dollar this year already as the divergence between the US Federal Reserve’s hawkish stance and the Bank of …

Wall Street stocks rallied and stayed strong throughout the US trading session. UK political developments in addition to Monday’s softer US dollar and global yields helped to boost risk appetite amid strong corporate earnings. The US dollar slid into support on the daily chart, as illustrated below, while the 10-year …

WTI is paring its earlier losses and prints gains of almost 0.40% on Monday as China’s continuing losing monetary policy, would likely make up for any reduced demand amidst high inflation and an economic deceleration, sparked global recession fears. At the time of writing, WTI is trading at $85.33 per …

The GBP/USD strikes the 1.1400 mark, as the UK’s new Finance Minister, Jeremy Hunt, said, On Monday, that the government changed its course while reiterating that Britain is a country that “pays its debts.” So far, Liz Truss’ U-Turn keeps investors’ mood positive, with global equities trading in the green …

On Monday, The US dollar is surrendering most of the ground gained last week. The USD/CHF pair has declined by more than 1% from Friday’s highs at 1.0065, to reach session lows below 1.0000 at the time of writing.In the long run, however, the current risk rally is likely to …