Market Update

Financial markets witnessed another volatile trading session on Thursday. Most markets were literally struggling for obvious direction. The US dollar was under pressure during Asian trading hours, resurged during the European session and was put again under pressure in the American afternoon.Safe-haven assets were the best performers against the US …

WTI crude oil prices pare recent losses around $96.50 during Friday’s Asian session. Oil once again attempted to penetrate a three-week-long symmetrical triangle after the previous day’s failed attempt.WTI buyers need a daily closing beyond the $98.00 comprising the stated triangle’s upper line and the 21-DMA, to keep reins. Following …

Treasury Secretary Janet L. Yellen pointed out the robust labour market, high business and consumer spending and strong industrial output as signs of the economy’s health. US President Biden and Treasury Secretary Janet L. Yellen on Thursday dismissed questions about whether the US economy was already in a recession, pointing …

Volatility erupted in the forex market after the US officially entered a technical recession in the second quarter of 2022 and Europe’s energy crisis keeps inflation sticky high. This development followed the Fed’s second consecutive 75-basis-point interest rate hike, for the first time since early 1980s.Today, currency flows shifted to …

The EUR/USD pair falls due to weaker than expected EU economic data, facing strong headwinds with the energy crisis, and slower economic growth. The US GDP in the second quarter showed signs of contraction, meaning the US is in a “technical recession”.Inflation in Germany tops around 8.6% YoY, while the …

The latest FOMC meeting raised the key interest rate by 75 basis points, as expected. Analysts stick with our forecast that the Fed will take the fed funds rate to a 3.25-3.50% by the end of this year, shifting to a 50 bps hike in September, followed by two consecutive …

The one thing Google, Snapchat, TikTok and Facebook all have in common is their business model that rely a lot on selling advertisements. This is why they of course share something else: a problem. Google is expected to comprise 30% of total worldwide digital ad revenues this year. Snapchat and …

On Thursday, Bitcoin price analysis implies a consolidation following the previous day’s impressive gains. The price opened lower and traveled to touch the intraday high of $23,455, which acted as a strong resistance for the price as it coincided with the critical 50-day moving average.The BTC/USD pair is exchanging hands …

The stock market was slipping Thursday following its recent Fed-inspired surge after news headlines said that the US economy shrank for two successive quarter as any two consecutive quarters of declines in growth traditionally constitute a recessionThe Dow Jones Industrial Average was down 121.60 points, or 0.38%, at 32,075.99, the …

Chinese President Xi Jinping told US President Joe Biden on Thursday that they firmly oppose Taiwan’s independence and the interference of external forces, Chinese state media reported.“Those who play with fire will only get burnt,” Xi told his American counterpart during the phone call, as per Reuters. “Hope the US …