EUR/USD 🔽 GBP/USD 🔼 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔽 XAU 🔼 WTI 🔼 Both the Federal Reserve and the Bank of England are to announce their interest rate decisions tomorrow, while sharing the same 75 basis points forecast. Upon some weakened economic indicator readings, Mitrade expects the two central banks would slow down on the rate hike next month. As a result, the...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 Yesterday, the stock market has returned to previous gains, and all major US indices recorded moderate losses. Although the Dow fell 128 points to 32,732, Mitrade observed it has also recorded the highest monthly gain for October at 13.95% - the highest since 1976. Later today, the Reserve Bank of...
EUR/USD 🔽 GBP/USD 🔼 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 Despite the monthslong process, the drama between Elon Musk and Twitter is far from over, key executives were fired, and alleged conversations were leaked. Meanwhile, Twitter’s stock price is mostly trading flat at $53.70. Major U.S. stock indexes have extended their gains by more than 2%. The Dow...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 XAU 🔽 WTI 🔼 The latest interest rate decision from the European Central Bank aligned with market projections at 75 basis points, while the statement had indicated a more dovish approach to control inflation. Once again, EUR/USD plunged below parity to 0.9962. The British Pound fell to 1.1564 against the greenback, and...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 Underperforming earnings from tech giants Alphabet (GOOGL) and Microsoft (MSFT) have sent major stock indices reeling. As Alphabet and Microsoft’s stock prices have dropped 9.14% and 7.72% respectively, signs of a slowed economy are likely to make the Federal Reserve slow down on the rate hikes in...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 Upon a series of US economic data failing to meet their estimates, the market now believes the Federal Reserve is bound to be less aggressive in next week’s interest rate announcement. The news has weakened the greenback against its peers, USD/CAD plunged to 1.3606, and USD/JPY declined to...
EUR/USD 🔼 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 After his last competitor leaves the race, Rishi Sunak will soon become the new leader of the UK conservative party, also the nation’s Prime Minister. While the market looks forward to better financial stability in the UK, the British Pound has declined to 1.1275 against the US dollar. While the...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 Last week, the Yen/Dollar pair have went above the 150.0 level, then it plunged to a low of 146.31 and recovered to 147.64. As the market believed the Bank of Japan had intervened to prevent further depreciation, more is expected ahead of the Federal Reserve interest rate decision. Meanwhile, USD/CAD...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔽 WTI 🔽 British Prime Minister Liz Truss has resigned from her post, after mounting political and economic pressure. GBP/USD peaked at 1.1332 and last traded at 1.1233, domestic retail sales and services PMI data will be available later this afternoon. Meanwhile, the euro retreated from a high of 0.9845 to...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔼 The new UK administration led by Liz Truss is under further scrutiny as the Home Secretary resigns, while price levels have risen by 10.1% last month - the highest level since 1990. Such news has brought down the British Pound to 1.1214 towards the US dollar. Eurozone also suffers from a 9.9%...
EUR/USD 🔼 GBP/USD 🔽 AUD/USD 🔼 USD/CAD 🔼 USD/JPY 🔼 XAU 🔼 WTI 🔽 Later this afternoon, the latest inflation data for the Eurozone and the UK will be available, with the market expecting a 10% increase for both. While high inflation is likely to prompt respective central banks to tighten monetary policies further, their currencies have responded differently....
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔼 WTI 🔽 The new UK chancellor has scrapped more tax cuts in the "mini-budget", and slashed its energy subsidies. Although the new administration's grip on authority remains tenuous, the British Pound and Euro significantly managed to bounce back against the US dollar. GBP/USD reached a high of 1.1431, then...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔽 USD/CAD 🔽 USD/JPY 🔼 XAU 🔽 WTI 🔼 Yesterday, the US Consumer Price Index data released had a 0.4% month-on-month increase and an 8.2% year-on-year increase, both higher than market estimates. Fear sentiment soon faded after an initial plunge in stocks, and a rally followed. All three major indices closed higher, with Dow Jones...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔼 USD/JPY 🔼 XAU 🔼 WTI 🔽 The latest meeting minutes from the Federal Reserve reiterate the general directions for the central bank would be more rate hikes, allowing USD/CAD to close at 1.3814 after considerable oscillations, USD/JPY also reached a 24-year high at 146.91. Later tonight, year-on-year US CPI figures are...
EUR/USD 🔼 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 XAU 🔽 WTI 🔽 Amidst domestic financial turbulences, the Bank of England announced an emergency program to purchase UK government bonds - which will end on Friday. The decision was made public earlier by the central bank’s governor, a sudden spike in the Claimant Count Change readings to 25,500 was also detrimental to the...
October 3 (Monday) German Manufacturing PMI UK Manufacturing PMI October 4 (Tuesday) US ISM Manufacturing PMI RBA Interest Rate Decision October 5 (Wednesday) US JOLTs Job Openings UK Composite PMI US ADP Employment Change October 6 (Thursday) US ISM Non-Manufacturing PMI Australia Trade Balance UK Construction PMI Eurozone Retail Sales Canada Ivey PMI October...
EUR/USD ▶️ GBP/USD 🔼 AUD/USD 🔽 USD/CAD 🔼 XAU ▶️ WTI 🔽 A fine margin in the results has denied an outright victory in the Brazilian presidential election, both former and current presidents will go head to head in the next round. While the people are divided by their choice of leader, potential unrest lies ahead if the final result sparks controversies. As an...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔽 USD/CAD 🔼 XAU ▶️ WTI 🔽 US GDP readings for the second quarter of 2022 were at -0.6%, aligning with market estimates. On the other hand, Initial Jobless Claims have decreased from 213,000 to 193,000, slightly more optimistic than the original projection of 215,000. A contracting economy has sent US stocks further down, all three...