Gold price resumes upside on Thursday amid September Fed rate-cut bets. Geopolitical risks and political uncertainty in Europe also lend support to the XAU/USD. Stabilizing US Dollar alongside the US bond yields rebound keep Gold price below the 50-day SMA. Gold price (XAU/USD) holds near a one-week top in the Asian session on Thursday, lacking bullish […]
USD/CAD stays on the sidelines above 1.3700 amid uncertainty over the timeframe for Fed rate cuts. US customers cut heavily on discretionary spending, which indicates a decline in purchasing power. Canadian Retail Sales are expected to have returned in a positive trajectory. The USD/CAD pair trades in a tight range but comfortably holds the crucial […]
EUR/USD continues to recover from a near-term low around 1.0667. Euro sees mid-tier data docket until Friday’s PMI prints. US markets heading into a midweek holiday, market flows to be throttled. EUR/USD is drifting slowly higher in tepid market conditions heading into a quiet Wednesday that sees low-impact EU data and darkened US markets for […]
Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25%-5.5% and responds to questions in the post-meeting press conference. Key quotes “We need further confidence, more good inflation readings but won’t be specific about how many to start rate cuts.” “We’ll also be […]
EU parliparliamentarytions knock back market stability. US CPI inflation and Fed rate call due on Wednesday. Fed’s update to “dot plot” on Wednesday is heavily anticipated. EUR/USD slid into a third straight loss on Tuesday as market sentiment sours on the back of roiled EU parliamentary elections. Elections saw a firm swing into support for […]
The Pound Sterling declines from 1.2740 against the US Dollar due to weak UK employment data and a firm US Dollar. The BoE could struggle to shift toward policy normalization as steady UK wage growth offset the impact of weaker employment levels. Investors see the Fed arguing to maintain a restrictive framework for longer. The […]
Silver price dives below $30 as the US Dollar recovers amid caution ahead of US NFP data. Market speculation for the Fed reducing interest rates in September improves. Silver price weakens after a Double Top breakdown. Silver price (XAG/USD) declines below the psychological support of $30.00 in Tuesday’s European session. The white metal weakens as […]
Share: US Dollar Index stays depressed after reversing from 11-week high. Yields, inflation expectations drop but activity data flash mixed signals to prod DXY bears. Absence of hawkish surprise from Fed, China-linked optimism exerts downside pressure on Greenback ahead of top-tier data. US CB Consumer Confidence can offer intraday directions but NFP, Fed’s […]
Share: GBP/USD falls 0.18%, as concerns over global business activity and China’s real estate market woes fuel a risk-off environment. US Dollar Index (DXY) advances 0.19% to around two-month highs, buoyed by Powell’s hawkish remarks on inflation and rate hikes at Jackson Hole. Mixed US economic data, including lower-than-expected Initial Jobless Claims, adds […]
Share: Powell’s hawkish tone on inflation and potential for further rate hikes propels USD/CAD to a three-month high of 1.3640, currently trading at 1.3613. Philadelphia Fed’s Patrick Harker adds fuel to the fire, stating rates are already restrictive and may need to rise further if inflation stalls. Lackluster Canadian retail sales data at […]
Share: Cleveland Federal Reserve President Loretta Mester told CNBC on Friday that they probably have some more work to do with rates, per Reuters. Additional takeaways “We are getting close to where we need to be with rates.” “We need to see more evidence inflation is cooling.” “Economy momentum has been stronger.” “Fed […]
Share: Federal Reserve Bank of Philadelphia President Patrick Harker told Bloomberg on Friday that he doesn’t see the need now for additional rate increases but added that he could call for more hikes if inflation retreat stalled. Additional takeaways “Should hold rates steady and see how policy affects the economy.” “Labor markets are […]
