This is what you need to know to trade today Friday December 16: The US dollar hit fresh weekly highs against most of its major rivals, closing the day with significant gains on risk-off sentiment. The dollar rallied from the early hours of the Asian session, as China released discouraging macroeconomic data. The country reported […]
Joshua
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
EU leaders urge to cap gas price while tier remains open
The governments of the European Union have agreed a ninth package of sanctions against Russia for Moscow’s invasion of Ukraineas reported by EU diplomats. Bloomberg has reported that the leaders of the European Union “have backed a quick deal to limit the price of natural gas and end months of political wrangling over an unprecedented […]
GBP/USD sinks more than 200 pips towards 1.2150 after BoE’s moderate rise
The British pound loses ground against the dollar despite the fact that the Bank of England raised rates by 0.50%. US retail sales for November disappointed, although they did show the effects of Federal Reserve policy. GBP/USD: Fall towards the confluence of the 20 and 200-day SMAs could pave the way for a retest of […]
EUR/GBP rises above 0.8700 after BoE dovish stance and hawkish ECB
The Euro shoots up more than 100 pips against the British pound. Lagarde, president of the ECB, opened the door to further rate hikes of 50 basis points in the upcoming meetings. The Bank of England’s decision put an end to rate hikes of 75 basis points, although it expressed its commitment to control inflation. […]
Central Bank of Mexico raises rates by 50 basis points
The Central Bank of Mexico has raised rates by 50 basis points. Reuters reports that Mexico Central Bank board member, Gerardo Esquivel voted in favor of raising the overnight interbank interest rate target by 25 basis pointsup to 10.25%. ”The decision to raise the interest rate by 50 basis points it was not unanimoushowever, the […]
US: November retail sales report was ugly – Wells Fargo
Data released Thursday showed a larger-than-expected decline in retail sales for the month of November. Wells Fargo analysts point out that sales in the most credit-dependent categories began to turn around and Christmas sales categories plummeted. Although they expect spending to contract in 2023, they point out that it is too early to say that […]
The Fed signals a more restrictive outlook – BBVA
As expected, the Federal Reserve raised the federal funds rate by 50 basis points on Wednesday. For the moment, the BBVA Research Service maintains its forecast of two rate hikes of 25 basis points during the first quarter of next yearwith a maximum rate of 4.75-5.00%. Featured Comments “Signs of hawkishness indicate that although inflation […]
USD/JPY rises above 137.50 as dollar strengthens
The dollar gains momentum as Wall Street falls. The Japanese yen does not benefit from risk aversion. USD/JPY is likely to challenge key resistance around 138.00. The US dollar strengthened broadly during the American session, the day after the FOMC meeting and following weaker than expected US economic data. USD/JPY jumped above 137.50towards the weekly […]
Gold Price Forecast: XAU/USD Tends to Do Well During Downturns – ANZ
ANZ Bank strategists report that the price of gold tends to come under pressure before recessions, but during recessions it outperforms other markets (like stock). Gold has performed well in past downturns “We expect the US to enter a recession in 2023, with a drop in GDP of 0.2% year-on-year and a contraction of 0.8% […]
EUR/USD to move lower in 2023 as the Fed raises rates above 5% next year – Danske Bank
The US Federal Reserve raised the federal funds rate by 50 basis points, as expected. The update of the “dot chart” indicates monetary policy rates above 5% in 2023. The EUR/USD pair rallied near pre-meeting levels despite the Federal Reserve’s rate projections. Nevertheless, Danske Bank economists expect the pair to decline next year. The FOMC […]
