The Bank of England (BoE) is anticipated to start decreasing interest rates in August. The monetary policy statement released by policymakers indicates that the decision to maintain interest rates at 5.25% was seen as “finely balanced.” This has led to speculations that rate cuts are imminent, as investors interpret this as a signal that a
Forex News
The Indian Rupee started the new week on a positive note, despite the stronger US Dollar. The anticipation of continued policy reforms post the general elections, along with a sustained economic growth outlook and significant foreign inflows, supported the INR’s upward movement. Investors are keeping an eye on the US Chicago Fed National Activity Index,
Masato Kanda, Japan’s top currency diplomat, has the authority to direct the Bank of Japan (BoJ) to intervene in the forex market when necessary. He has mentioned that appropriate measures will be taken in the event of excessive forex movements, although he has not specified whether recent forex fluctuations fall into this category. Kanda has
The price of gold is currently hovering near a two-week high, with investors anticipating a potential rate cut by the Federal Reserve in September. The rise in US bond yields is impacting the USD, which in turn is influencing the movement of gold prices. Despite the headwinds caused by the anticipated new supply of US
Silver prices have been on the rise, with the XAG/USD trading at $30.19 per troy ounce, marking a 26.89% increase since the beginning of the year. This precious metal, often traded among investors, has historically been used as a store of value and a medium of exchange. Various factors can influence the price movements of
Silver prices were relatively stable on Wednesday, trading at $29.55 per troy ounce. This marks a 16.02% increase since the beginning of the year. The Gold/Silver ratio, which reflects the number of troy ounces of Silver needed to match the value of one troy ounce of Gold, was at 78.93 on Wednesday, indicating a slight
The volatility of the US Dollar has come into focus recently due to lower-than-anticipated Retail Sales figures and dovish bets on the Fed. Market participants are closely monitoring comments from Federal Reserve officials in order to gauge the future direction of interest rate policy and its impact on the Greenback. The slower-than-expected growth in Retail
Costco Wholesale Corp. (COST) has been under the lens of Elliott Wave Theory, which provides a detailed examination of the company’s price movements. Through this analysis, traders can gain insights into potential opportunities based on the current market trends and structural behavior. Upon scrutinizing the daily chart of COST, it becomes apparent that the company
France’s President Emmanuel Macron recently expressed skepticism towards extreme economic proposals, deeming them unrealistic in the face of significant economic challenges. This dismissal comes amidst a crucial time for the country, with major economic issues at stake. Macron’s focus is on swiftly reaching agreements to tackle looming economic obstacles. The Euro stands as the currency
The Pound Sterling has been on a roller coaster ride, dropping to 1.2700 against the USD as the Federal Reserve signals only one rate cut this year. Investors are closely monitoring the Fed’s decisions regarding inflation before considering any rate cuts. However, the Pound Sterling’s performance has been weak against North American and European currencies,
The USD/CAD pair has shown signs of recovery, reaching around 1.3730 during the early Asian trading hours on Thursday. This recovery comes after a three-day losing streak, with the US Dollar gaining strength following the hawkish stance from the US Federal Reserve. During the recent Federal Open Market Committee (FOMC) meeting, the benchmark lending rate
The USD/JPY pair has been on an upward trend for the fourth consecutive day, reaching near 157.15 during Asian trading hours. Traders are taking a cautious approach as they await key economic events that could significantly impact the pair’s movement. One of the major events to watch is the release of the US Consumer Price