Gold climbs up but it faces worst month in seven on U.S. rate hike bets. Mixed sentiment surrounding Ukraine war, China's covid update dampens the market mood. US Treasury Sec. Yellen warns that more shocks likely to 'challenge the economy'. Gold prices rose on Friday due to worrying U.S. economic data rekindled some interest [...]
AUD/USD is holding higher above 0.7180 after Australian Inflation beats with 5.1%. Hotter Inflation has raised the odds of a hawkish stance by the RBA in May. Fears of China’s Covid-19 outbreak and Ukraine crisis creates a dismal market mood. The Australian dollar got a lift on Wednesday as data showed inflation blew past [...]
Cable remains downward pressured amidst disappointing data and Strong USD. Dismal market mood and flight to safe-haven assets weighed on the GBP. Signs of the UK economy is under stress from soaring inflation puts pressure on the GBP. The British pound plummeted against the US dollar during Tuesday trading session due to the fears [...]
Gold hits over 2-week low on aggressive and hawkish Fed approach. US Policymakers dictate that interest rate hike of 50 bps is going to feature in May. China's covid spread and Ukraine crisis hits the investors’ confidence, keeping the bullish sentiment around the US dollar. Gold prices fell against the US dollar during Monday [...]
