The recent exit poll suggesting a major victory for UK’s Labour Party, led by Keir Starmer, in the upcoming 2024 UK election has sent shockwaves through the political landscape. With projections indicating that Labour is on course to win about 410 seats in the 650-seat House of Commons, while the Conservatives are projected to win
Forex News
The US markets were closed recently as the country celebrated its journey towards independence, commemorating its freedom from rule by a monarch. This historical event showcases the importance of democracy and independence in the country’s foundation. However, despite such a significant occasion, there has been speculation in the media regarding US President Biden’s potential candidacy
The EUR/JPY cross has been gaining momentum recently, reaching around 173.80 during Wednesday’s European session. This represents a 0.20% increase on the day, indicating positive movement in the exchange rate. The weakening of the Japanese Yen can be attributed to the latest data showing that Japanese business activity turned contractionary in June. This has put
Federal Reserve (Fed) Chairman Jerome Powell and European Central Bank (ECB) President Christine Lagarde recently shared their insights on the monetary policy outlook at the ECB Forum on Central Banking in Sintra. They highlighted key points such as the stickiness of services inflation, the cooling off of the labor market, and the expectation for inflation
The gold price has been oscillating in a narrow trading band recently, influenced by mixed fundamental cues. With rising bets for a September Fed rate cut, the US Dollar has been under pressure, thereby lending some support to the precious metal. However, the uncertainty surrounding the timing and extent of the rate cuts has left
Gold prices are currently facing a downward trend, hovering around $2,325 in the early Asian trading session. Despite the volatility in the global market, gold continues to be a popular investment choice for many investors. The recent data on inflation in the US indicates a slowdown in the annual rate, hitting a three-year low. This
The US Dollar (USD) has seen some positive movements in recent days, with fresh buyers entering the market and pushing the currency to a two-month high. This surge comes ahead of the release of the Personal Consumption Expenditure (PCE) Price Index, which is expected to have a significant impact on the USD’s performance in the
Japanese Finance Minister, Shunichi Suzuki, recently made statements regarding the need for actions to address foreign exchange stability. He emphasized the importance of FX stability while refraining from commenting on specific forex levels. Suzuki expressed his deep concerns about the impact of FX fluctuations on the economy, especially in light of rapid and one-sided movements.
Gold prices in India have remained relatively stable, with minor fluctuations, according to recent data from FXStreet. The price of Gold per gram and per tola has been consistent over the past few days, reflecting the broader market trends and influences affecting the precious metal. Gold has a long history of being used as a
When considering investments in open markets, it is essential to be aware of the risks and uncertainties that are involved. The information provided on various platforms, including this page, contains forward-looking statements that should not be taken as concrete advice to buy or sell assets. It is crucial to conduct thorough research before making any
The Indian Rupee has shown signs of strengthening against the weaker US dollar on Tuesday. This could be attributed to India’s inflows that might lift the INR. However, the upside might be limited due to the weakness in major Asian peers and higher oil prices. Traders are keeping an eye on the US Chicago Fed
The Pound Sterling has been finding support near 1.2620 against the US Dollar, indicating a certain level of stability in the forex markets. However, the UK’s economic outlook appears to be uncertain ahead of the upcoming UK elections. This uncertainty is likely to impact the performance of the Pound Sterling in the near future, as