Market Update

The USD/CAD pair extends its decline from weekly highs around 1.3220s reached on Thursday, spurred by elevated US PPI data, which showed that inflation is far from peaking, triggering an uptick in expectations of a Fed 100 bps hike, which later eased as Fed policymakers pushed back against those assumptions.The …

University of Michigan’s Consumer Confidence July report has showed an unexpected modest rebound in the main index. Inflation expectations are cooled. This could represents welcome news for Fed’s policymakers and it makes the pressure to go big at the next FOMC meeting less intense after this week’s scorching CPI reading.At …

Bitcoin breached the important $20,000 resistance level and surged past $20,600 on Friday. However, traders are still cautious because the US Fed is expected to boost interest rates by as much as 75-100 basis points in an effort to cool down the country’s spiking inflation, which would make riskier assets, …

San Francisco Fed President Mary Daly said on Friday that she is not concerned above “over cooking things” on rate hikes. Daly also noted that US consumers continue to spend and that the labour market is still robust.However, Daly mentioned that “Inflation is too high” and that the Fed is …

The dollar index fell during Friday’s trading, but it is heading to record its third weekly gain, benefiting from its strong rise throughout the week, with increasing expectations of a rate hike by the Federal Reserve. The index is up 4% in the past three weeks, marking its biggest gain …

The markets have recently witnessed a number of turbulence that affected the risk appetite of investors, by the negative data such as the recent inflation and unemployment data, in addition to the cautious anticipation of the upcoming Federal Reserve meeting with expectations of raising interest rates by 100 points, which …

The US dollar settled at a two-decade high on Friday after global markets swept into a wave of risk-off, with traders expecting the Federal Reserve to raise interest rates by 100 basis points later this month. Currencies seen as more vulnerable, including the Australian dollar and the British pound, have …

Gold prices fell on Friday, July 15, and remained on track for the fifth consecutive weekly decline, as the continued rise in the dollar and fears of a sharp rise in US interest rates affected the demand for bullion. And the price of gold in spot transactions fell 0.3% to …

Japan’s Nikkei index closed higher for the third consecutive session Friday after weak trading, led by gains for Uniqlo clothing chain operator Fast Retailing and video game maker Nintendo, while fears of an economic slowdown limited the gains. The Nikkei index closed up 0.54% at 26788.47 points, after swinging for …

The Chinese economy contracted sharply in the second quarter of this year 2022, while annual growth slowed significantly, highlighting the huge losses in economic activity due to the widespread closures to contain the Corona virus, which shook industrial production and consumer spending. Official data released Friday showed that China’s gross …