GBP/USD found a foothold on Friday after wide miss in US data. US NFP showed the lowest initial print in years as job market cools. Coming up next week: US ISM Services PMI, UK BRC Retail Sales. GBP/USD wrapped up the trading week with a last-minute win after a misfire in US Nonfarm Payrolls (NFP) […]
The Canadian Dollar went in both directions on quiet Monday. Canada has another rate call looming ahead on Wednesday. A tepid start to the trading week leaves CAD traders to tread water. The Canadian Dollar (CAD) went sideways on Monday, finding some gains against the Antipodeans but shedding further weight against the US Dollar. CAD […]
USD/CAD reverses an early dip to 1.3700, though the upside potential seems limited. The US political uncertainty and dovish Fed bets keep the USD bulls on the defensive. An uptick in Oil prices underpins the Loonie and contributes to capping for the major. The USD/CAD pair attracts some dip-buying following an Asian session uptick to […]
The Canadian Dollar backslid as investors take a closer look at inflation data. Canada gets a fresh rate call from the BoC next week. After a brief soft patch in Canadian inflation, BoC may have cut rates prematurely. The Canadian Dollar (CAD) shed weight on Wednesday as investors take a second look at Canadian Consumer […]
Gold price struggles to capitalize on its intraday move up to a fresh all-time high. The risk-on environment prompts some profit-taking amid a slightly overbought RSI. September Fed rate cut bets keep the USD bulls on the defensive and lend support. Gold price (XAU/USD) trims gains after touching a fresh record peak, around the $2,482-2,483 […]
Dow Jones gains 1.7% in a single day as rate cut hopes surge. Easing US Retail Sales data reignited market bets of a September rate cut. Dow Jones sets a new record high for a second day in a row. The Dow Jones Industrial Average (DJIA) surged to a second record-setting day in a row, […]
After the July policy meeting conducted on Wednesday, the Reserve Bank of New Zealand (RBNZ) board members decided to keep the Official Cash Rate (OCR) steady at 5.50%. The decision was widely in line with the market expectations. Summary of the RBNZ Monetary Policy Statement (MPS) Committee agreed that monetary policy will need to remain […]
Federal Reserve (Fed) Bank of Richmond President Tom Barkin spoke to reports late Thursday, noting that the Fed has sufficient firepower to address policy issues looking forward, but will have to maintain a strict data-dependent approach as policymakers look to time rate cuts appropriately. Key highlights The impact of Fed rate increases will hit in […]
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 […]
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 […]
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: USD/RUB has suddenly gone exponential. Economists at Commerzbank analyze Ruble’s outlook after the Russian central bank (CBR) extraordinary meeting. Russia’s key rate hike that serves nobody It did not do much for the Ruble that the CBR hiked its key rate from 8.5% to 12%. The Ruble’s problems are not down to […]
