Market Update

The USD/JPY is generally in overbought conditions, but the BoJ’s dovish stance would keep the yen weak. A clear break of 145.00 would send the pair rallying toward August 1998 at 147.67.The USD/JPY rallied after the US Department of Labour reported that inflation was decelerating but exceeding estimations, catching off …

European stocks fell on Tuesday as hotter-than-expected US inflation data raised fears about aggressive interest rate hike by the Fed at its upcoming policy meeting, and triggered widespread selling in several sectors while disappointing data from the U.K., Germany and Switzerland also weighed on sentiment.The pan European Stoxx 600 fell …

Global economic growth is expected to continue strong at 3.1% this year and another 3.1% in 2023 according to OPEC’s forecast, on Tuesday, suggesting that the group expects healthy oil demand growth despite market fears of recession. In its September Monthly Oil Market Report (MOMR) published today, OPEC made no …

The gold market has dropped like a stone into negative territory after the US inflation pressure rose more than expected.Tuesday, the U.S. Labour Department said its much-anticipated Consumer Price Index rose 0.1% in August after an unchanged reading in July. Economists were looking for a drop of 0.1%. The report …

US stocks have been falling since they took a hard blow by Tuesday’s CPI data in the US for August with equity prices falling at their highest levels in more than 40 years. The Dow Jones Industrial Average fell to 31,497 points after being about 133 points, or 2.8%, from …

The USD/CHF pair rose sharply from the lowest level in four weeks to the highest since Friday following the release of US inflation data. The pair climbed from 0.9477 to 0.9632. It is hovering around 0.9600/10, having the best day in weeks.The US dollar dropped during the previous days amid …

OPEC on Tuesday maintained its forecast for strong global oil demand growth in 2022 and 2023, based on indications that major economies are doing better than expected despite unfavorable factors such as rising inflation. The Organization of the Petroleum Exporting Countries (OPEC) said in a monthly report that oil demand …

The US Bureau of Labor Statistics reported this Tuesday that inflation, as measured by the Consumer Price Index (CPI), decelerated to 8.3% on a yearly basis in August from 8.5% in the previous month. The reading was slightly above consensus estimates pointing to a decline to 8.1%. The Core CPI, …

Unemployment data has just been released in the UK, which reports that the unemployment rate has fallen to its lowest level since 1974 as more people leave the labor market, adding pressure on wages, and threatening to exacerbate the inflation crisis. Data from the Office for National Statistics released today, …

Gold prices were flat on Tuesday, as cautious investors awaited US inflation data to anticipate how much the Federal Reserve will raise interest rates. And gold prices in spot transactions recorded little change to 1724.19 dollars an ounce by 0729 GMT. Prices reached a two-week high of $1,734.99 on Monday …