04.01.24 – EUR/USD climbed on Thursday
The EUR/USD climbed half a percent bottom-to-top on Thursday, tapping 1.0970 before settling into the 1.0960 neighborhood as markets digest data beats from both sides of the Pacific heading into Friday’s US Nonfarm Payrolls (NFP) print. The Eurozone’s HCOB Composite Purchasing Managers’ Index (PMI) beat expectations early Thursday, printing at 47.6 for December versus the […]
03.01.2024 – Gold price drops further as bets in favour of early rate cuts by the Fed drop slightly
Gold price (XAU/USD) turned negative on Wednesday amid caution ahead of the Federal Open Market Committee (FOMC) minutes and crucial data from the United States, namely the Institute for Supply Management (ISM) Manufacturing PMI for December and JOLTS Job Openings data for November. The commentary from Richmond Federal Reserve (Fed) Bank President Thomas Barkin has […]
USD/CAD rebounds to near 1.3260
The USD/CAD pair jumps to near 1.3260 in the early New York session after recovering from the crucial support of 1.3180. The Loonie asset discovered significant bids after a decent recovery in the US Dollar Index (DXY) and a sheer sell-off in the oil prices. The S&P500 is expected to open on a flat note, […]
Gold price eases intraday gains amid recovery in US Treasury yields
Gold price (XAU/USD) dropped on Thursday after registering a fresh three-week high. The precious metal fell as profit-booking kicked-in after the sharp rally of the last two weeks. This came as the opportunity cost of owning the non-yielding metal rose amid US Treasury yields showing signs of recovery. The broader appeal for the Gold price, […]
The AUD/USD is trading closer to the 0.6840 level
In Wednesday’s trading session, the AUD/USD is seeing gains, currently at the 0.6843 level. These movements are largely driven by the intensifying dovish bets on the Federal Reserve (Fed), which applies pressure on the US Dollar. As a result, the Australian dollar is outpacing its US counterpart at a quiet end of the year. For […]
The AUD/USD holds firm, maintaining important weekly gains
During the American session, the AUD/USD pair rose to 0.6824, reaching its highest intraday level since July, driven by broad-based Dollar weakness. It is holding onto its weekly gains, remaining near 0.6800. The latest important US economic report for 2023 showed that the Core Personal Consumption Expenditure Price Index (Core PCE) rose 0.1% in November, […]
USD/CAD sets another 19-week low as the Loonie climbs into 1.3300
The USD/CAD eased into 1.3300 as the Canadian Dollar (CAD) gets one last crack at the handle as markets gear up for the holiday shutdown with a broad-base selloff of the US Dollar (USD). US inflation figures came in below expectations as price growth decelerated quicker than most expected, giving markets the excuse they needed […]
EUR/GBP: The Euro hesitates at 0.8660 as concerns about the eurozone economy grow
The Euro recovery from last week’s lows has been halted at the 0.8660 area on Wednesday´s European morning session with the common currency weighed by mounting concerns about the Region’s economy. Earlier today, Eurostat released that Eurozone Construction Output contracted by 1% in October. These figures come after the downbeat IFO business sentiment index seen […]
Gold price is looking for stabilization above 1,930.00
Gold price (XAU/USD) has climbed marginally above the crucial resistance of $1,930.00 in the London session. The precious metal is looking for stability above $1,930.00 as the US Dollar Index (DXY) is facing pressure. The USD Index has corrected to near 102.63 as the investing community is mixed about further monetary policy by the Fed. […]
EUR/USD reverses part of the recent weakness and regains 1.0900
EUR/USD starts the week on the positive foot and reclaims the area beyond 1.0900 the figure on Monday. The inability of the pair to regain the area of recent peaks around 1.1010 (June 22) could motivate sellers to return to the market and open the door to a potential revisit to recent weekly lows near […]