Gold price remains under pressure
Gold price (XAU/USD) continues its five-day losing streak on Wednesday as hot United States inflation data suggests the Federal Reserve (Fed) will hold back from cutting interest rates at its monetary policy meeting in May. The opportunity cost of holding non-yielding assets, such as Gold, has risen as the Fed is expected to keep interest […]
NZD/USD loses ground as US Dollar improves ahead of US Inflation data
The NZD/USD pair falls to near 0.6110 during the European trading session on Tuesday. The New Zealand Dollar (NZD) encounters pressure against the US Dollar (USD) is partially attributed to diminished Kiwi inflation expectations in the first quarter, as reflected in the RBNZ Inflation Expectations (QoQ) data, which rose by 2.5% but lower than the […]
The EUR/GBP trades at 0.8532 reporting mild losses
In Monday’s session, the EUR/GBP traded at a minimal loss at 0.8532. Underpinning the GBP stability is market anticipation of the Bank of England’s (BoE) delayed rate-cut cycle, overshadowing potential imminent UK economic headwinds. Conversely, inflation trends, coupled with easing cycle expectations, add an element of uncertainty for the Euro, potentially favoring EUR/GBP selling momentum. […]
EUR/USD found some room higher but still lacks upside momentum
The EUR/USD found some room on the high side on Friday, continuing a near-term recovery. However, the pair remains firmly planted on the low side of technical barriers and remains pinned below the 1.0800 price handle. German inflation figures brought nothing new to the table, confirming initial flash prints and an adjustment by the US […]
The Canadian Dollar is broadly higher in calm markets
The Canadian Dollar (CAD) has stepped broadly higher against the majority of its major currency peers on Thursday, though the CAD is battling a recovering US Dollar (USD) as the two currencies are on pace to settle the day as the top performers. US Initial Jobless Claims came in lower than expected, driving investors back […]
The US Dollar retreats further from its peak performance on Monday
The US Dollar (USD) is flat for this week and tilted to move into a negative performance ahead of the US opening bell. The effects from the upbeat US Jobs Report and geopolitical tensions – with ceasefire talks evolving in the Gaza region – are starting to favor the Greenback. Hamas has laid out a […]
USD/CAD eyes more upside above 1.3550
The USD/CAD pair hovers near a weekly high of around 1.3540 in the early New York session on Tuesday. The Loonie asset aims to extend the upside, being supported by a risk-off market mood. The US Dollar Index (DXY) recovered to a near 11-week high of 104.50 amid hopes that the Federal Reserve (Fed) will […]
EUR/USD dropped 0.40% to 1.0742, influenced by Powell’s hawkish remarks
The Euro (EUR) extended its losses against the Greenback (USD) in early trading during the New York session, down 0.40%, sponsored by high US Treasury yields and the strong US Dollar. Federal Reserve Chair Jerome Powell’s Sunday interview delivered a hawkish message to the detriment of other G10 FX currencies. At the time of writing, […]
AUD/JPY recovers from a two-month low at 95.50
AUD/JPY continues to gain ground, recovering from the two-month low at 95.50 observed in the previous session. The cross trades higher around 96.80 during the European session on Friday. The Australian Dollar (AUD) has found support from an improved Australian money market, contributing to the strength of the AUD/JPY cross. Furthermore, the better-than-expected Producer Price […]
AUD/USD finds an intermediate support near 0.6500
The AUD/USD pair finds bids near the crucial support of 0.6500 in Thursday’s early New York session. The Aussie asset rebounds as the US Dollar Index (DXY) has surrendered its entire gains generated in the European session. The S&P500 is expected to open positively, considering the strength in the overnight futures. The USD Index has […]