The GBP/USD pair is bleeding on Wednesday following a brief recovery versus the stronger dollar. At the time of writing, GBP/USD is trading at 1.1609 and is recording a 0.4% loss on the day.The sterling pierced the psychological 1.16 round level and faces its worst month since late 2016 against …
Read More »EUR/USD’s Parity Shifts Attention To Natural Gas
The Euro bids farewell to previous months’ heavy losses. The shared European currency tends to be stabilizing against the US dollar. The EUR/USD hovers around 1.0057 after reaching new week highs.On Monday and Tuesday; however, the EUR/USD pair reclaimed parity and is hesitantly moving towards key resistance level. The Euro, …
Read More »Can Wall Street Avoid Fourth Day Of Losses?
US stocks are generally struggling to put an end to the three-day losses. Traders and investors are still busy digest monetary policy signals and comments by the Fed speaks.Any economic downturn would give the Fed reason to ease up its rate hiking stance. Stocks have been subject to heavy selloff …
Read More »Gold rebounds as T-yields hold downtrend
Gold prices modestly retreated on Wednesday. During the US session, the Gold Index rebounded from the one-month low at $1,709 and rose to $1,723. The precious metal is hovering around $1,720 and trades at $1718.40 per ounce at the time of writingUS treasury yields fell on Wednesday. Following the August …
Read More »Renewed Demand Concerns Still Dragging Oil Lower
WTI crude oil price is down for the second successive day. At the time of writing, the American crude is trading between $90.35 and $90.45 per barrel.Earlier on the day, crude price probed below $90 per barrel. Observers and economists cite pressures by accelerating concerns about the global economy’s slowdown, …
Read More »US Private Payrolls Grew Below Expectation in August
Private sector companies added only 132,000 jobs in August. The latest ADP reading, released on Wednesday, indicates a slower pace of hiring after months of robust strong growth in the labour market. August’s reading is far below market expectations standing at 225,000 jobs. There is a shaded zone on the …
Read More »Market Drivers – European Session 31/8/2022
The euro slipped back below par against the dollar on Wednesday. They extended its decline for the third consecutive month as the deepening energy crisis fuels recession fears, while the European Central Bank pushes ahead with interest rate hikes. Russia on Wednesday halted gas supplies from the Nord Stream 1 …
Read More »The euro fell against the dollar on fears of recession and rate hike
The euro slipped back below par against the dollar on Wednesday. They extended its decline for the third consecutive month as the deepening energy crisis fuels recession fears, while the European Central Bank pushes ahead with interest rate hikes. Russia on Wednesday halted gas supplies from the Nord Stream 1 …
Read More »Eurozone Preliminary Inflation rises 9.1% YoY in August
The annualized Eurozone Harmonised Index of Consumer Prices (HICP) rose by 9.1% in August vs. July’s 8.9%, the latest data published by Eurostat showed on Wednesday. The market forecast was for a 9.0% print. The core figures jumped to 4.3% YoY in August when compared to 4.1% expectations and 4.0% …
Read More »Oil falls 3% on recession fears
Oil prices continued their decline on Wednesday as investors worried about the weakness of the global economy and the possibility that central banks will raise interest rates and increase restrictions to curb the outbreak of COVID-19 in China. US West Texas Intermediate crude contracts fell $2.58, or 2.82 percent, to …
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