The shared currency is about to finish the week with 1.66%. US Core PCE rose by 4.9% YoY, lower than March’s 5.1% reading; will the Fed diminish the speed of rate hikes? EUR/USD Price Forecast: Its long-term bias remains bearish, but a rally towards 1.0800 in the near term is on the cards. The EUR/USD
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US dollar continues to pullback across the board. Yen loses momentum in the market amid risk appetite. USD/JPY fails to benefit from the rally in Wall Street. The USD/JPY is about to end the week trading around 127.00. The pair bottomed on Tuesday at 126.35, the lowest level in five weeks and then rebounded finding
The USD/INR is about to end the week modestly lower, pulling back from record levels. The chart shows the primary trend is bullish and strong. According to analysts at Wells Fargo, the rupee will continue to decline versus the US dollar, at a gradual pace. Key Quotes: “The Indian rupee recently hit an all-time record
Gold Price is heading back towards $1900 amid mixed markets. US dollar recovers ground but the correction doesn’t seem to be over yet. XAUUSD’s path of least resistance appears to the upside, for now. Gold Price is staging a solid comeback after finding strong support near the $1,840 region over the past two trading days.
Gold bulls moving back in as the US dollar remains on the backfoot. This week’s candle is bullish and the bulls have corrected to a 38.2% ratio milestone. At $1,850, the gold price is losing around 0.18% on the day, falling from a high of $1,854.43, but has recovered from the day’s lows of $1,840.75. The
Economist at UOB Group Enrico Tanuwidjaja reviews the latest interest rate decision by the Bank Indonesia (BI). Key Takeaways “Bank Indonesia (BI) kept its benchmark rate (7-Day Reverse Repo) unchanged at 3.50% at its May MPC meeting. Consequently, BI maintained the Deposit Facility rate at 2.75% as well as the Lending Facility rate at 4.25%.”
At $1,851, the price of gold is down around 0.8% on the day as the US dollar breaks higher from a two-day losing streak on Wednesday. The yellow metal has slid from a low of $1,841.60 to a high of $1,868.11 so far on the day but has found some solace on the basis that there has
Gold Price snaps a five-day uptrend, as the US dollar stages a solid rebound. US Treasury yields remain on the back foot ahead of the FOMC minutes. Strong support at $1,850 could limit the pullback in XAUUSD from two-week highs. Gold Price is retreating from two-week highs of $1,870, as tensions mount in the lead-up
Snap announces it will not reach 20% revenue growth goal in Q2. CEO Evan Spiegel says inflation, rising interests are biting into business. SNAP stock now has only covid low as support. Update: SNAP shed 43.08% on Tuesday, following a 30% decline on Monday, as investors are still digesting the poor earnings result. The share
ECB President Lagarde signalled an upcoming turnaround in interest rate policy. The news caused the euro to appreciate noticeably yesterday, pulling gold up to $1,865 for a time. However gold in euros is kept in check, economists at Commerzbank report. Lagarde endorsed an exit from negative rates in Q3 “Lagarde announced ‘a progressive further normalisation
Gold (XAU/USD) begins the week on the right foot, up 0.54% in the week. A softer buck and concerns of the US falling into a recession courtesy of an aggressive Fed lifts the prospects of the yellow metal. Gold Price Forecast (XAU/USD): Bulls need to reclaim the 20-DMA, if not a re-test of the 200-DMA
Gold continued scaling higher on Monday and climbed to a near two-week high. Broad-based USD weakness was seen as a key factor that underpinned the XAUUSD. The risk-on mood, rising US bond yields might cap any further gains for the metal. Gold kicked off the new week on a positive note and build on its
Reuters reported on the weekend that Shanghai’s central Jingan district, a key commercial area of the Chinese financial hub, will require all supermarkets and shops to shut and residents to stay home until at least Tuesday. ”The district plans to carry out COVID mass testing from Sunday until Tuesday, it said on its official WeChat account.
The Canadian dollar gained 0.47% vs. the greenback in the week, which was soft throughout the whole week. The US Dollar Index reclaimed the 103.000 mark but ended the week with losses of 1.38%. USD/CAD Price Forecast: A daily close above the 20-DMA could pave the way for a move towards 1.3000. The USD/CAD is
GBP/USD Weekly Forecast: Will the recovery sustain above 21 DMA? Bulls were finally rescued, as GBP/USD stalled its four-week downtrend and rebounded firmly from two-year lows of 1.2155 reached a week ago. A temporary bottom seemed in place, with the 400+ pips recovery, as the US dollar embarked on an overdue correction. The currency pair
Next week the Reserve Bank of New Zealand will have its monetary policy meeting. According to analysts at Wells Fargo, high inflation and a hawkish central bank outlook sets the stage for another 50 bps hike in May to 2.00%. They expect the rate to end the year at 3.00%. Key Quotes: “The Reserve Bank
Despite falling on Friday, the AUD/USD is up in the week by 1.34%. Sentiment fluctuated negatively in the last hour, dragging the AUD/USD lower. AUD/USD Price Forecast: A daily close below the 20-DMA could pave the way towards the YTD low below 0.6850. The Aussie dollar is struggling at the 20-day moving average (DMA) and
NZD/USD edged higher for the second straight session and inched back closer to a two-week high. A positive risk tone benefitted the perceived riskier kiwi and remained supportive of the uptick. Modest USD strength, recession fears held back bulls from placing fresh bets and capped gains. The NZD/USD pair maintained its bid tone through the