Market Update

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, …

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 …

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 …

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, …

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 …

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 …

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 …

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% …

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 …

Gold prices fell on Wednesday for the fifth consecutive month as strong US economic data and comments from the Federal Reserve about monetary tightening indicated further interest rate hikes, reducing the attractiveness of the non-yielding yellow metal. Spot gold prices fell 0.1 percent to $1,721.59 an ounce by 0735 GMT, …