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The Euro came under pressure after ECE meeting despite higher yields. On the American front, the US dollar gains momentum as market sentiment deteriorates.The EUR/USD pair has dropped further during the US trading session and bottomed at 1.0643 touching the lowest level in a week amid a stronger US dollar …
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June, 2022
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9 June 2022 7:14 pm
Gold remains vulnerable ahead of Friday’s CPI data
Gold price witnessed some selling on Thursday amid a further rise in the US bond yields. Hawkish central banks further contributed to driving flows away from the commodity. A softer risk tone, modest USD downtick extended some support and helped limit losses.Gold Price edged lower on Thursday and was last …
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9 June 2022 5:58 pm
US: Weekly Initial Jobless Claims rise to 229K
There were 229,000 initial jobless claims in the week ending on 4 June, above the prior week’s reading of 202,000 and expectations for a rise to 210,000. That pushed the four-week average higher to 215,000 from 207,000 a week earlier.
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9 June 2022 4:52 pm
Lagarde: Inflation has broadened, is undesirably high, and is a major challenge
Inflationary pressures are expanding and have remained undesirably high, which is a major challenge; Lagarde added that economic activity would be affected in the short term due to higher energy costs as the wars in Ukraine and recent lockdowns in China have made the supply chain in a worse. Lagarde …
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9 June 2022 4:10 pm
ECB Press Conference: Lagarde speech live stream
Christine Lagarde, President of the European Central Bank (ECB), is scheduled to deliver her remarks on the monetary policy outlook at a press conference at 12:30 GMT.
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9 June 2022 3:48 pm
ECB leaves rates unchanged at -0.50% as expected
On Thursday, the European Central Bank’s (ECB) governing council decided to keep its benchmark deposit rate at -0.50%, as unanimously expected by market participants. The bank also said that it intends to raise interest rates by 25 bps at the July meeting, after having ended its Asset Purchase Programme (APP) …
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9 June 2022 3:37 pm
Russia: No agreement has been reached with Turkey on Ukrainian grain exports
The Kremlin said on Thursday that no agreement had been reached with Turkey on the export of Ukrainian grain shipments through the Black Sea. Kremlin spokesman Dmitry Peskov told reporters that work was continuing to reach an agreement. Turkey has been pressing for an agreement between Russia and Ukraine on …
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9 June 2022 2:26 pm
European shares decline ahead of ECB statement
European shares fell on Thursday ahead of the European Central Bank meeting later on Thursday, as investors awaited indications of the bank’s plans to tighten monetary policy. The pan-European Stoxx 600 index was down 0.5% by 0709 GMT. The index is heading towards incurring losses for the third consecutive session. …
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9 June 2022 1:13 pm
Gold Settles Under Pressure From High Bond Yields Ahead of US Data
Gold prices stabilized on Thursday as rising Treasury yields held them back before key data on jobs and inflation in the United States could influence the Federal Reserve’s roadmap to raise interest rates to combat inflation. And gold settled in spot transactions at $ 1853.24 an ounce by 0303 GMT, …
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9 June 2022 12:27 pm
Japan’s Nikkei closed little changed after a volatile session
The Japanese Nikkei index ended trading on Thursday with little change after a volatile session, during which it lifted the index to its highest level in five months, before giving up those gains due to the decline in the shares of shipping companies and chip makers that wiped out the …
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9 June 2022 3:06 am
Market Drivers – US Session – Wednesday June 8
The US dollar suffered early in the US session as government bond yields temporarily dropped, later recovering some ground amid falling US equities. Most major currency pairs are holding on to familiar levels, except for the USD/JPY pair, which surged to a fresh 20-year high of 134.47. The imbalance between …
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9 June 2022 2:30 am
Oil leaps to 13-week high on rising gasoline demand
Crude oil prices jumped over 2% to a 13-week high on Wednesday as US demand for gasoline keeps rising despite record pump prices, while expectations that China’s oil demand will increase faced growing supply concerns in several countries, including Iran.Analysts have said a nuclear deal with Iran could add about …
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9 June 2022 1:36 am
UK Ponders Stricter Stance Towards Sanctions
The UK is considering stricter enforcement of the economic sanctions measures next week after passing a relevant legislation in the wake of Russia’s invasion of Ukraine.Starting June 15, the UK’s Office of Financial Sanctions Implementation will not have to seek evidence that companies or individuals who violate the country’s sanctions …
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