Gold rose sharply despite steady yields and peaked at $2,007. It then pulled back toward the $2,000 area. The critical level to break is $2,010. The US dollar’s increase on Tuesday was seen as a corrective measure because the currency remains vulnerable until the market refocuses on the story of …
Read More »EUR/GBP sees worst trading day since July
The Pound Sterling is up against the Euro by 0.5%, while hawkish remarks from Bank of England policymakers have helped the pound to surge. Before Wednesday’s trading session, the Euro is trading near its lowest point and showing little signs of recovery. In testimony before the Treasury Committee of the …
Read More »Hawkish BoE drives GBP/USD higher ahead of FOMC Minutes
During the North American session, the GBP/USD pair has gained 0.26%, supported by hawkish remarks made by Bank of England officials and weak US economic data. The pair is trading at 1.2536 at the time of writing.The Federal Reserve’s most recent monetary policy meeting minutes, which are predicted to show …
Read More »Market Drivers – US Session, Nov. 7
Metals continued to be pressed. Silver reached a two-week low of $22.43 and is trading dangerously below $22.80. Gold fell to a two-week low of $1956 before retreating from its losses.aDuring the American session, the US dollar weakened due to rising Wall Street stocks and a reverse in Treasury yields. …
Read More »Financial Markets’ Weekly Recap
After a very busy week, several economic data releases are expected to weigh on the performance of multiple assets and most prominently, the US Dollar Index with the beginning of the new trading week.Oil’s PerformanceWTI crude dropped to $80.70, a decrease of more than 2%. Soft labour market data was …
Read More »WTI rallies above $82 on risk appetite
WTI crude oil gained 2.07% on Thursday as the US dollar declined. WTI is trading at $82.23 per barrel at the time of writing. Despite a potential hawkish retreat, investors respond favourably to the Federal Reserve’s decision to maintain interest rates unchanged. The Fed reiterated its commitment to reducing excessive …
Read More »Sterling recovers post weaker US data
Weak US economic data has caused the Pound Sterling to rise vertically, increasing market risk appetite. Investors are still awaiting significant monetary policy announcements from the Bank of England and the US Fed, though. The GBP/USD exchange rate is still tense because investors believe the BoE will maintain current interest …
Read More »BoE Preview: Anticipating a Tight Vote for Maintaining the Status Quo
The Bank of England’s upcoming meeting in November appears to be one of the most predictable ones in recent memory, despite the famous saying about the unpredictability of events. Since the current tightening cycle began in late 2021, the decisions have often been closely contested. In the last meeting held …
Read More »Market Drivers – US Session, October 25
The US Dollar Index rose for the second consecutive day, rising above 106.50, the highest level since last Friday. The dollar received a boost from higher Treasury yields and deteriorating market sentiment following the latest round of earnings results. The Dow Jones dropped 0.32%, and the Nasdaq lost 2.43%. The …
Read More »British inflation stabilizes in September at the lowest level in 18 months
Official data showed on Wednesday that annual consumer price inflation in Britain settled at an 18-month low of 6.7 percent in September, contrary to economists’ expectations of a further deterioration. Financial markets expect the Bank of England to keep interest rates at 5.25 percent on November 2, after keeping them …
Read More »