Forex

British retail sales unexpectedly fell in December, raising concerns of an economic contraction in the fourth quarter. The data, released on Friday, adds to the challenges faced by Finance Minister Rachel Reeves. Retail sales, adjusted to account for Black Friday at the start of the month, dropped by 0.3% in…

Money market funds experienced their largest outflows since April 2024, with $83.5 billion withdrawn in the week ending January 15, according to Bank of America’s latest report. During the same period, stocks attracted $13 billion in inflows, bonds gained $11.4 billion, and gold saw $1.3 billion in new investments. In…

The U.S. Trade Representative (USTR) announced Thursday that China’s strategic dominance over the global shipbuilding, maritime, and logistics sectors is deemed “unreasonable” and “actionable” under U.S. trade law. The findings, part of a USTR investigation initially reported by Reuters, do not recommend specific penalties against Beijing but leave further actions…

Bitcoin Surges Past $100K Amid Optimism for Crypto Policies Under Trump As the inauguration of President-elect Donald Trump approaches on January 20, Bitcoin has reached a new all-time high of $108,244, driven by expectations of a crypto-friendly administration. The rise is linked to speculation about an executive order that could…

Forex Market Overview: USD and AUD Gain Traction as CAD and NOK Face Sell-Offs Demand for the U.S. Dollar (USD) saw a notable surge, particularly against Emerging Market Forex (EMFX), as investors closed out 2024 with a strong long position on the USD, according to Bank of America. Among G10…

Dollar Steadies Post-Cool Inflation; Sterling Slides on Weak Growth Data The U.S. dollar stabilized on Thursday following losses in the previous session due to softer inflation data, while the British pound edged lower after disappointing growth figures. As of 04:45 ET (09:45 GMT), the Dollar Index, which measures the greenback…

The dollar stabilized on Thursday after slipping due to cooling U.S. inflation and declining bond yields, while the yen climbed to a one-month high amid increased expectations of a rate hike in Japan. The yen was the most notable mover against the dollar following softer-than-expected U.S. inflation data. It extended…

Gold prices climbed to a one-month high in Asian trading on Thursday, supported by a decline in the dollar and Treasury yields after softer consumer inflation data fueled expectations of interest rate cuts this year. The precious metal approached $2,700 per ounce for the first time since early December, amid…

Oil prices rose for a second consecutive session on Thursday, bolstered by concerns over supply disruptions stemming from U.S. sanctions on Russia, a sharper-than-expected decline in U.S. crude oil inventories, and an improving outlook for global demand. By 0446 GMT, Brent crude futures increased by 25 cents, or 0.3%, to…

The U.S. dollar eased on Wednesday as traders exercised caution ahead of a key U.S. consumer price report, while sterling slipped following a mild inflation reading in the UK. At 04:45 ET (09:45 GMT), the Dollar Index, which measures the greenback against a basket of six major currencies, fell 0.2%…