Market Update

Gold price is losing 1.60% on Thursday, falling from a high of $1,858.87 to a fresh cycle low of $1,822.27. The US dollar is bid and climbed to fresh two-decade highs on Thursday as investors flock to the safe-haven currency in the face of surging inflation.Wednesday’s data bolstered market’s expectations …

US Treasury Secretary Janet Yellen mentioned on Thursday that the Financial Stability Oversight Council (FSOC) is concerned about the functioning of the Treasury market. While Yellen testifies, stocks erased gains printing fresh YTD lows and the dollar strengthened. The DXY is at multi-year highs above 104.70. The 10-year US yield …

Wells Fargo’s analysts believe that the US dollar can strengthen against G10 and emerging market currencies. They consider the aggressive monetary policy tightening from the Fed, safe haven capital flows as well as markets that are mis-priced for interest rate hikes abroad should all result in a stronger greenback going …

The USD/CAD pair has stabilized just below multi-month highs in the low 1.3000s on Thursday, as a downturn in global macro risk appetite coupled with the strong performance of the safe-haven US dollar offered the pair support.Both US CPI and PPI data over the past two days showed an (as …

There were 203,000 Initial Jobless Claims in the week ending on 7 May, a little above the expected drop to 195,000 from 202,000 one week ago, data released by the US Department of Labour on Thursday showed. 

European shares fell on Thursday, pulled down by steep losses on Wall Street overnight, after US inflation data fueled concerns about the impact of higher interest rates on economic growth. The pan-European Stoxx 600 index fell 1.7 percent, losing many of the gains it made in the middle of the …

Japan’s Nikkei fell to its lowest level in nearly two months on Thursday, after major technology stocks followed in the footsteps of their US counterparts, which fell sharply overnight. The Nikkei fell 1.77 percent to close at 25,748.72 points, its lowest since March 15. The broader Topix index fell 1.19 …

European shares fell sharply Thursday, May 12th, as global markets digested the latest inflation reading from the United States, and this reading raised fears that there is a tendency for prices to rise significantly in the future. The pan-European Stoxx 600 Index is down 2.2% in early trading, with all …

Oil prices fell more than 1% on Thursday in a volatile week, as economic concerns and fears of a recession weighed negatively on global financial markets, outweighing concerns about supplies and tension in Europe. Brent crude futures fell $1.25, or 1.2 percent, to $106.26 a barrel by 0303 GMT. US …

Gold resumed its rally on Wednesday after a brief decline due to the release of US inflation data, with the dollar falling after data showing a slight slowdown in US consumer price growth. Spot gold rose 0.8% to $1,852.65 an ounce, and US gold futures rose 0.7% to settle at …