The US Dollar struggled to maintain its upward momentum on Tuesday, as market participants adopted a cautious stance ahead of crucial economic data releases later in the week. The British Pound emerged as a standout performer, benefiting from the Bank of England’s persistent hawkish stance.Key Economic Events for Wednesday, August …
Read More »USD Continues to Decline After Consumer Confidence Data
The US Dollar has been declining since the start of US trading on Tuesday, continuing the downward trend that began at the end of last week following the release of the Federal Reserve meeting minutes and Jerome Powell’s comments at the Jackson Hole symposium.These comments highlighted a potential interest rate …
Read More »Swiss National Bank Leads Global Policy Easing with Rate Cut, Signaling Confidence in Inflation Outlook
The Swiss National Bank (SNB) reduced interest rates for the second consecutive time on Thursday, highlighting its confidence in easing price pressures and solidifying its position at the forefront of the global policy easing cycle. The central bank’s decision to cut its policy rate by 25 basis points to 1.25% …
Read More »Moscow Exchange Halts Trading Euro, USD on Fresh US Sanctions
The recent escalation in the US-Russian standoff has had a major impact on the Russian financial system. This comes after the US decided to impose a new batch of sanctions on June 12, targeting the Moscow Stock Exchange, the National Clearing Center and the National Settlement Depository, key players in …
Read More »Gold Prices Steady Near Key Support Ahead of Fed Meeting and CPI Data
Gold prices held steady in Asian trade on Wednesday, hovering around the crucial $2,300 support level as traders awaited further clarity on U.S. monetary policy from the Federal Reserve’s meeting and upcoming inflation data. Recent Decline and Support Level: The yellow metal has experienced a sharp decline in recent sessions …
Read More »Gold Climbs Despite Surging Treasury Yields, USD
Despite Monday’s strong US dollar, gold prices managed to recover some of the losses from last week, rising by more than 0.5%. Following Friday’s US Nonfarm Payrolls report, which showed a robust labour market with 272,000 jobs gained beyond estimates, gold is rising. On the other hand, future US inflation …
Read More »AUD/USD surges on RBA’s relatively hawkish stance
The AUD/USD pair has seen a surge in value as markets continue to anticipate the Federal Reserve cutting interest rates possibly in June. However, the Reserve Bank of Australia is striking a more hawkish tone, suggesting that rates may even need to rise. The pair is 0.40% up, trading at …
Read More »Weekly Recap: US inflation dominates the market
Last week, the financial markets were shaped by significant data releases across several major economies, notably the United States and the eurozone. In the eurozone, data published by the European Statistics Office (Eurostat) on Friday indicated that the region’s annual harmonized consumer price index (HICP) rose by 2.6% in February, …
Read More »Market Drivers – US Session, February 29
Amid ongoing indications of inflation losing steam on both sides of the Atlantic and consistent wagers that the Fed and the ECB will cut interest rates at some point this summer, the US dollar’s continuing purchasing pressure put additional pressure on the risk-linked assets. Economic Data The personal consumption expenditures …
Read More »Weekly Financial Recap: US Data Dominates Market Sentiment
In the pulse of the financial world, the spotlight of the past week fell squarely on key US economic indicators, particularly inflation data, igniting a flurry of activity and recalibration across markets. Inflation Insights Headline US inflation for January came in at 3.1%, a modest improvement that fell slightly short …
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