Daily Updates

EUR/USD and GBP/USD recover as US Dollar weakens, cautious sentiment persists. Technicals and economic events influence forex market.

Dutch central bank chief Klaas Knot remarked on Tuesday that underlying price pressures in the euro zone might prove challenging to control, but the effectiveness of monetary policy is becoming evident, emphasizing the need for gradual rate hikes. Over the past year, the European Central Bank (ECB) has raised rates by a significant 375 basis …

Euro Zone Core Inflation Endures as ECB Policy Demonstrates Effectiveness: Knot Read More »

Gold price (XAU/USD) is experiencing a period of consolidation, hovering around the $1,960 mark in the early London session. The precious metal’s movement has been characterized by back-and-forth action as the investment community remains divided on the Federal Reserve’s (Fed) interest rate decision scheduled for June’s monetary policy meeting. Investors are closely watching the developments …

Gold Price Oscillates Around $1,960 Amid Divided Response to Fed’s June Policy Read More »

Gold prices (XAU/USD) have experienced a significant downward correction, dashing hopes of reaching fresh record highs. The precious metal attempted to recover but failed, as bond yields resumed their rebound, impacting its bullish momentum. The recent surge in U.S. economic data has raised expectations of the Federal Reserve continuing to hike rates during the second …

Gold Price Forecast: Bears Pounce, Shattering Dreams of Fresh Record Read More »

The May Nonfarm Payrolls report shows strong job growth but softened wage growth, raising doubts about the Federal Reserve’s tightening plans and impacting the US Dollar.

Global stock market sentiment experienced a notable shift in the past week, with tech stocks leading and fueling a surge in market performance. The tech-heavy Nasdaq 100 index emerged as the clear winner, soaring by an impressive 2.51%, while its counterpart, the blue-chip-oriented Dow Jones, struggled, recording a decline of -1%. Meanwhile, across the Atlantic, …

Tech Stocks Lead Market Surge as AI Demand Skyrockets Read More »

Gold, the precious metal that has captured the attention of investors, experienced a day of fluctuating fortunes as it held above the important level of $1,940. Despite erasing its earlier daily gains, gold managed to maintain its position above this key support level. From a technical perspective, analysts are closely observing the resistance that lies …

Gold Price Holds Above $1,940, Faces Resistance and Potential Rally Read More »

The Federal Reserve’s recently released minutes from its May 2-3 meeting have revealed a shift in the central bank’s stance, indicating a preference for a more cautious approach amidst ongoing policy debates. At the meeting, the Federal Reserve voted to raise borrowing costs by 25 basis points, bringing them to a range of 5.00%-5.25%. However, …

Federal Reserve Leans Towards a More Cautious Approach as Policy Debates Continue, While the US Dollar Remains Strong Read More »

Crude oil prices have witnessed a robust bounce, with WTI and Brent experiencing back-to-back days of gains, despite the prevailing strength of the US dollar. Various factors have contributed to this recent upswing in oil prices, including comments from the International Energy Administration (IEA) and concerns surrounding potential oil shortages in the second half of …

Tough Path Ahead: WTI and Brent Oil Prices Near Confluence Zone Read More »

Reserve Bank of India (RBI) officials appeared before the Delhi High Court to address concerns regarding the withdrawal of Rs 2000 notes, clarifying that it was a statutory exercise rather than a demonetisation move. The court session revolved around a plea filed by lawyer Ashwini Kumar Upadhyay, who argued that the notifications enabling the exchange …

Reserve Bank of India Clarifies Withdrawal of Rs 2000 Notes as a Statutory Exercise, Not Demonetization Read More »