Gold price rises swiftly ahead of Fed’s monetary policy announcement
Gold price (XAU/USD) strengthens as the United States Automatic Data Processing (ADP) has reported a weaker demand for labor that what anticipated by the market participants. US private employers recruited 107K job-seekers in January, which were significantly lower than expectations of 145K and the prior reading of 158K. A slowdown in the labor demand is […]
EUR/USD holds onto gains as the ECB avoids a technical recession
The EUR/USD pair rises to near 1.0840 as the Eurozone economy has managed to avoid a technical recession. The major currency pair witnesses buying interest as slightly better preliminary Q4 Gross Domestic Product (GDP) data would allow the European Central Bank (ECB) to maintain interest rates higher for some time more than what investors are […]
EUR/USD falls 0.39%, weighed down by ECB remarks
The EUR/USD extends its losses on Monday, with buyers scrambling to keep the exchange rate above the 1.0800 figure amid a quiet trading session ahead of Wednesday’s US Federal Open Market Committee (FOMC) decision. A drop in US Treasury yields is not an excuse for US Dollar (USD) bulls to propel the buck; therefore, the […]
EUR/GBP gained momentum and rose to 0.8540
During Friday’s trading session, the EUR/GBP rose slightly to 0.8540 showing mild gains. That being said, the bears asserted their influence during the week, leading to a weekly loss of 0.40% pushing the cross down to its lowest point since September. In that sense, the main factor that is benefiting the Pound over the Euro […]
EUR/USD dips 0.19%, in response to the ECB’s decision
The EUR/USD extended its losses past the European Central Bank (ECB) monetary policy decision to keep the main deposit rate unchanged as the ECB’s President Christine Lagarde’s press conference finished. That and solid US GDP figures kept the major down by 0.19%, trading at 1.0864 after hitting a high of 1.0901. Summarizing ECB’s President Christine […]
The EUR/GBP stands at 0.8549 with mild losses
In Wednesday’s session, the EUR/GBP pair was trading at 0.8549, reflecting a mild losses but recovered after hitting a low of 0.8535 earlier in the session, it lowest level since September. Ahead of Thursday’s European Central Bank (ECB) decision, markets digest European S&P PMIs from January to continue placing their bets on the easing cycle […]
EUR/USD drops 0.12% in North American trade, to 1.0855
The EUR/USD dropped some 0.12% in early trading during the North American session amid an upbeat market mood. At the same time, traders adjusted their speculations on rate cuts by the US Federal Reserve (Fed). The pair traded at 1.0855 after hitting a daily high of 1.0915 in the European session. Wall Street’s sentiment reflects […]
Canadian Dollar markets flatten out in quiet Monday trading
The Canadian Dollar (CAD) sees thin action on Monday to kick off the trading week with limited momentum across the major currency board. CAD traders will be looking ahead to Wednesday’s rate call from the Bank of Canada (BoC), and markets are set for a blustery Friday to end the week with a fresh print […]
EUR/JPY: The Euro loses steam as German Producer Prices drop beyond expectations
In Japan, the soft inflation data is weighing on a sharper JPY recovery. EUR/JPY faces a significant resistance at 161.80. The Euro retreated against the Japanese Yen ahead of Friday’s European session opening. Weak German PPI data weighed on the Common currency, which found buyers in the upper ranges of 160.00. German Producer Prices declined […]
Gold price discovers bets near $2,000
Gold price (XAU/USD) has executed a short-term recovery move in the midst of a persistent downtrend. Gold price printed a fresh monthly low near the psychological support of $2,000 on Wednesday, then bounced. Yet despite the rebound, the precious metal remains on the backfoot as investors continue to worry about when the Federal Reserve (Fed) […]