Market Update

A slight pullback in the USD Index coincided with an effort at a recovery in the gold price, which scaled to close to $1,994.60. It would not be reasonable to view Gold’s upward trend as a reversal given the strong odds on another Fed rate hike.The Fed’s Beige Book will …

After a two-day recovery from its lowest points since mid-February, the USD/CAD steadily climbs upward. The US dollar applauds hawkish Fed expectations and optimistic yields to continue the recovery from the previous week. The present oil price is affected by the stronger dollar, concerns about the economy’s recovery, and apprehension …

Monday’s trading session saw an increase in US stocks as another round of crucial earnings started. Following the fall of Silicon Valley Bank last month, investors are still paying close attention to financial institutions’ earnings. The technology-heavy Nasdaq Composite (IXIC), the S&P 500 (GSPC), and the Dow Jones Industrial Average …

House Speaker Kevin McCarthy traveled to the New York Stock Exchange Monday to deliver a warning to Wall Street about the debt ceiling crisis.There is a growing chance Washington “will bumble into the first default in our nation’s history,” the Republican said on his 100th day as House Speaker, adding …

The USD/JPY pair hit new five-week highs at 134.57; it is currently trading at 134.42, with bulls seeking 135.00. The USD/JPY oscillators favour more upward movement. Below 134.00, there are dangers on the downside that could push the USD/JPY rate as low as 133.00. Following the Federal Reserve (Fed) policymakers’ …

Gold price resumed downside on Monday, fall to the $1,980$ area. The Us Dollar rises across the board, boosted by higher US yields.Gold price resumed the downside on Monday, breaking under $1,990. XAU/USD bottomed at $1,980 reaching the lowest level in a week. The precious metal is trading at 1995.70, …

The EUR/USD pair falls for the second straight day, as sellers are eyeing 1.0800. US New York Empire State Manufacturing Index climbed for the first time in five months. The pair losses traction on technical reasons and on a stronger US Dollar (USD, as speculations that the US Federal Reserve …

The US Treasury has warned US companies of possible evasions of the Russian petroleum price cap of crude oil exported through the Eastern Siberia Pacific Ocean (ESPO) pipeline and ports in eastern Russia. The Office of Foreign Assets Control (OFAC) at the department said it is aware of reports that …

Oil prices moved lower on Monday as investors deliberated over a likely May interest rate hike by the U.S. Federal Reserve, which might hamper economic recovery hopes, despite Chinese GDP data was expected to augur well for demand growth. Brent crude futures were down 55 cents or 0.6% at $85.76 …

European stocks rose on Monday as investors expected major US banks to continue reporting strong quarterly earnings this week, while also looking forward to the Federal Reserve ending its interest rate hike cycle. The European STOXX 600 index rose 0.3 percent after hitting its highest level in more than a …