Market Update

Gold prices fell on Wednesday as the dollar and Treasury yields rose after upbeat economic data boosted expectations that the Federal Reserve will continue to raise interest rates sharply. And gold fell in spot transactions 0.5% to $ 1692.99 an ounce (an ounce) by 0330 GMT, after falling earlier to …

The US dollar extended its gains, ending Tuesday higher against most rival currencies. The EUR and the JPY were the worst performers, falling to multi-year lows against their American rival. EUR/USD traded as low as 0.9863, now hovering around 0.9900, while USD/JPY trades a handful of pips below 143.07, a …

At the time of writing, the precious metal trades around $1703. Earlier on Tuesday, gold future traded at $1712.80 with net decline of $9.80 or – 0.56%. Concurrently the dollar index was up 71 points or 0.65% and fixed at 110.22. This could mean that there was fractional buying in …

The Bank of Canada is widely expected to decide one more big interest hike on Wednesday in its endeavour to fight inflation which is currently near forty year high and closer to the 2% target.All 31 economists surveyed by Bloomberg expect policy makers led by Governor Tiff Macklem to raise …

The EUR/GBP pair has maintained its defensive standing while keeping the previous day’s bounce off a one-week low around 0.8600 during Wednesday’s initial Asian session.The cross-currency pair dropped to the lowest levels since August 30 before taking a U-turn from the 50-SMA. The corrective pullback, however, lacks support from the …

The USD/JPY pair rallied on Tuesday and took out the symbolic level of 142, scoring a fresh 24-year low as the US dollar sprung into life again and while the gap between Japanese monetary policy and its counterparts widens. USD/July hit the highest levels since August 1998. Japan’s Finance Minister …

Oil prices fell on Tuesday as concern returned about the prospect of more interest rate hikes and COVID-19 lockdowns weakening fuel demand, reversing a two-day rally on OPEC+’s first output target cut since 2020.The US benchmark had been trading since Sunday without settlement due to the Labor Day holiday. WTI …

Most investors have shifted their focus of attention onto Ethereum because the long-awaited Ethereum Merge has become closer, one of the most interesting facts about 2022’s bear market is that Ethereum outperformed bitcoin across all timeframes. ETH has surged more in the past 24 hours (6% vs 1%), in the …

The AUD/USD pair falls from weekly highs at around 0.6830s due to increased odds of an aggressive Fed hike.On the US front, the ISM Non-Manufacturing activity for August surprisingly exceeded estimations, easing US recession worries whereas Australia’s GDP for the Q2, quarterly and yearly, is eyed on Wednesday’s Asian session.The …

Wall Street’s main indexes closed lower on Tuesday, the first session after the US Labour Day holiday and summer vacations, as traders assessed fresh economic data in volatile trading. A lot of uncertainty and volatility is not coming from the US; it’s actually coming from overseas.The tech-heavy Nasdaq (.IXIC) suffered …