EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔼 WTI 🔽 After two years, the Chinese government has lifted its unofficial ban on Australian coal imports. While concerns about rising infection rates in China remain, an export boost allowed AUD/USD to jump over 100 pips to 0.6832. EUR/USD reached a closing price of 1.0599, now stabilized above the 1.0600...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔽 XAU 🔼 WTI 🔼 The US stock market remains closed for the holiday, and prospects for 2023 have improved since investors anticipated slower inflation and interest rate hikes from major central banks. Spot gold closed at $1,823.95 an ounce and then rose to a six-month high of $1,831.64. WTI oil futures climbed...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔽 With European countries imposing multiple economic sanctions on Russia, there were also efforts made to alleviate high energy prices due to supply shortages. As of 30 December, natural gas futures are trading at levels not seen after the Russian invasion of Ukraine, thanks to adequate supply and...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔼 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 Market sentiment remained subdued amidst high infection rates in China, as well as growing tensions between Serbia and Kosovo. The US 10-year Treasury bond yield then rose to a month-high of 3.885%, sending the stock market to close lower. All three major indices dropped yesterday. There was a...
EUR/USD 🔼 GBP/USD 🔽 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔼 WTI 🔼 The holiday mood did not lift market sentiment. Extreme cold weather in the US has proved fatal in certain regions. Although the Dow Jones Industrial Average increased 37 points (+0.11%) to 33,241, the S&P 500 declined 15 points (-0.41%) to 3,829, and the Nasdaq 100 plunged 162 points (-1.48%) to...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔽 XAU 🔽 WTI 🔽 The US has recorded the third consecutive positive GDP growth which exceeds Mitrade's estimates, with quarterly growth of 3.2%. As such, the greenback strengthened towards its peers, and EUR/USD dropped slightly to 1.0593, while AUD/USD decreased over 40 pips to 0.6666. The UK had a set of...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔽 WTI 🔼 The latest GDP data from the US will be announced tonight, with Mitrade estimating a 2.9% quarterly increase, the same as last month. A minor relief from recession fears allowed the stock market to close higher. With the Dow Jones Industrial Average rising 526 points (+1.60%), the S&P 500 gained 56...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔽 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 The Bank of Japan maintained a negative interest rate of -0.10%, but an unexpected change in its yield curve control surprised investors, Mitrade expects this will open up the possibility of monetary tightening. As a result, USD/JPY lost over 520 pips to a closing price of 131.7, the lowest level since...
EUR/USD 🔼 GBP/USD 🔽 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔽 WTI 🔼 As the rest of the world has been raising rates throughout most of 2022, Mitrade expects the Bank of Japan is likely to keep a negative rate level at -0.100%, with a possible policy shift in the short term. USD/JPY has increased by over 40 pips to 137.40, currently trading at 136.880, while USD/CAD is...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔽 WTI 🔼 Early this morning, the Federal Reserve increased interest rates by 50 basis points to 4.50%, meeting market estimates. Later tonight, Mitrade expects the Bank of England and the European Central Bank to follow suit with a 50 bps rate hike. Although Fed Chair Powell claimed rate hikes will continue...
EUR/USD 🔽 GBP/USD 🔼 AUD/USD 🔽 USD/CAD 🔽 USD/JPY 🔼 XAU 🔽 WTI 🔼 US inflation data will be announced tonight, just before the Federal Reserve announces its interest rate. Mitrade expects a slowing annual inflation rate at 7.3% and a monthly reading of 0.3%, rate hike expectations are also adjusted to 50 basis points. This includes central banks in the Eurozone and...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔼 WTI 🔽 Recession fears from the imminent Fed rate hike led to a dip in oil prices, despite the Chinese government relaxing lockdown measures is likely to increase consumption. WTI oil futures briefly dipped to a 1-year low at $71.22 a barrel and reached a closing price of $71.46, the US has experienced one...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔼 USD/JPY 🔽 XAU 🔼 WTI 🔽 In yesterday’s interest rate decision, the Bank of Canada increased rates by 50 basis points to 4.25%, meeting Mitrade's forecast. The central bank has extended the quantitative tightening cycle while acknowledging and will continue to assess the risks. USD/CAD closed at 1.3651 and is trading slightly...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔼 WTI 🔽 The Reserve Bank of Australia has just increased its interest rate by 25 basis points to 3.1%, aligning with market estimates. Meanwhile, Australia recorded 0.6% quarterly growth for its GDP, slightly lower than the projected 0.7%, and AUD/USD suffered minor losses at 0.6692. As the Federal Reserve...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 Last night, the US ISM Non-Manufacturing Purchasing Managers Index had a monthly reading of 56.5, considerably higher than the market estimate of 53.3. Sustained inflation and strong labor data have led Mitrade to anticipate further rate hikes from the Federal Reserve. As a result, the stock...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔽 NZD/USD 🔼 USD/CAD 🔼 USD/JPY 🔽 XAU 🔽 WTI 🔽 The US Nonfarm Payrolls reading for November was 263,000, exceeding market expectations. Even though the Federal Reserve is already inclined to slow its rate hikes, this news will likely prolong the rate hike series. As a result, the stock market closed slightly lower. As the S&P 500...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔼 USD/JPY 🔽 XAU 🔼 WTI 🔼 Despite outperforming market estimates seven months in a row, investors predicted US nonfarm payrolls to indicate an economic slowdown to around 200,000 jobs added in November. This could sway the Federal Reserve to opt for a more moderate monetary policy. Meanwhile, the dollar continues to...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔼 USD/JPY 🔽 XAU 🔼 WTI 🔼 Despite outperforming market estimates seven months in a row, Mitrade predicted US nonfarm payrolls to indicate an economic slowdown to around 200,000 jobs added in November. This could sway the Federal Reserve to opt for a more moderate monetary policy. Meanwhile, the dollar continues to...