Turkish Lira Plunges Again As Inflation Tops 83%; Erdogan Promises More Rate Cuts
The Turkish lira worsened against its US counterpart to start the trading week, as inflation soared and the government vowed to keep cutting interest rates….
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Crude Surges on Reports OPEC Will Slash Oil Output Amid Falling Prices
Crude oil futures are soaring to kick off the trading week, buoyed by reports that the Organization of the Petroleum Exporting Countries (OPEC) and its…
Gold Records Modest Gain as US Dollar Holds Below 20-Year High
Gold futures rose modestly amid a seesawing US dollar and lower Treasury yields, with sliding financial markets lingering in the background. The metals market attempted…
US Dollar Index (DXY) Rises on Hotter-Than-Expected Inflation in August
The US dollar tried to stay in positive territory to finish the trading week after the latest inflation data came in hotter than expected. The…
Natural Gas Slumps on Huge US Supply Build, Hurricane Ian
Natural gas futures extended their losses on Thursday as investors digest the latest US government data and traders weigh recent demand prospects in the aftermath…
USD/CAD Rises Again on Market Weakness, Abysmal Economic Data
The Canadian dollar weakened against its US rival on Thursday, as slumping financial markets and abysmal economic growth in the Great White North weighed on…
British Pound Extends Losses After Bank of England Pauses Tightening Cycle
The British pound continued its selloff against its US counterpart during Asian trading. The pound, which slipped into a bear market this week, has been…
Crude Oil Rallies on Surprise Supply Drawdown, Hurricane Ian
Crude oil futures joined the rally in the broader financial markets in the middle of the trading week, driven by a surprise drawdown in domestic…