The Mexican Peso fell over 8.0% in its key pairs last week as a result of election volatility. The Peso further weakens after a speech by outgoing president Obrador argues radical reforms are required to cure endemic corruption. USD/MXN keeps marching higher and now trades well above 18.00. The Mexican Peso (MXN) makes a marginal […]
The Japanese Yen lost ground as US Dollar advanced on robust jobs data. The mixed Japanese data may limit the downside of the JPY. Japan’s 10-year government bond yield moves above 1.01% ahead of the BoJ policy meeting on Friday. The Japanese Yen (JPY) edges lower for the successive second trading day on Monday. The […]
Gold falls to multi-week low after US labor market data exceeds expectations. China’s People’s Bank halts 18-month Gold buying spree, exerts downward pressure on XAU/USD. US Treasury yields surge with the 10-year yield up to 4.43%, bolstering the Greenback and pushing Gold’s price lower. Traders eye US inflation data and Fed policy meeting next week. […]
Mexican Peso collapsed to 18.40 against USD after AMLO’s remarks on judicial and transparency reforms. AMLO’s comments on judicial reform and dissolution of autonomous bodies spur investor concerns. Mexico’s headline inflation rises for third month, while core inflation declines for 16th consecutive month. Strong US employment data boosts speculation of prolonged higher Fed rates. The […]
USD maintains its momentum, rising by more than 0.70% on Friday. US Nonfarm Payrolls exceeded market expectations in May, showing a robust recovery in the labor market. September odds fall for a Fed rate cut as positive economic signals abound. On Friday, the US Dollar Index (DXY) expanded its winning streak following stronger-than-forecasted labor market […]
Gold price declines after the release of US Nonfarm Payrolls data for May, shows a higher-than-expected change in employment and wages. Gold was already trending lower after data unveiling PBoC reserves showed no change in May compared to April. Short-term technical picture remains volatile as Gold whipsaws higher and then lower. Gold (XAU/USD) falls all the […]
Gold climbs 0.54% and reaches a two-week high of $2,378. Higher-than-expected US jobless claims weaken US Dollar and stabilize Treasury yields. Traders focus on upcoming Nonfarm Payrolls; forecasts suggest 185,000 new jobs with a 3.9% Unemployment Rate. Gold hit a two-week high of $2,378 on Thursday after the US Bureau of Labor Statistics (BLS) announced […]
The European Central Bank is set to cut interest rates by 25 bps on Thursday. ECB President Christine Lagarde could stick to a data-dependent stance on future rate outlook. The Euro’s fate hinges on the ECB’s updated forecasts and Lagarde’s speech. The European Central Bank (ECB) is set to announce its first interest rate cut […]
Oil steadies near $77.00, looking for direction after Sunday’s OPEC+ meeting. OPEC+ meeting sets the tone for more downside after the summer season despite the decision to extend production cuts. The US Dollar Index trades at mid-104.00 levels and is facing a heavy week full of economic data. Oil prices trade broadly steady on Monday, […]
The US Dollar eases back to earlier levels for this week. Markets are seeing US equities trying to stage turnaround and head back into Risk On. The US Dollar retreats further below 105.00, heading to 104.50 again. The US Dollar (USD) is fully retreating from its peak performance on Wednesday. All gains that got booked […]
The US Dollar recovers and nearly erases all losses for this Tuesday. Fed’s Kashkari surprises markets with hints of a rate hike. The US Dollar Index heads back to 104.50. The US Dollar (USD) bounces on Tuesday after the US opening bell with help from Federal Reserve Bank of Minneapolis President Neel Kashkari. Fed’s Kashkari floated […]
Gold climbs 0.23% on Friday but is set for weekly drop above 3%. US Durable Goods Orders exceed expectations, though March’s revised down data softened the impact. XAU/USD recovers on mixed US data that weighs on US Dollar. Traders now anticipate only 25 basis points of Fed rate cuts in 2024, reducing expectations for easing. […]
