FX

US Dollar holds its ground at the end of the week, remains in consolidation mode. Fed officials remain cautious on inflation, as Durable Goods Orders miss market expectations. Markets continue to see two cuts by year-end. The US economy remains robust with GDPNow tracking third-quarter growth at 3.4%. The strong economic outlook might push the

UK Chancellor Reeves is walking a thin line as she seeks to find a balance between finding the funds to invest for growth while also maintaining the air of budgetary prudence, Rabobank’s FX analyst Jane Foley notes. GBP is holding up well so far “To avoid shocking gilt investors too much by the October 30

GBP/USD Price Forecast: Climbs to three-day peak, approaches 1.3000 The Pound Sterling recovered some ground and traded at around three-day highs of 1.2998 yet remained unable to crack the 1.3000 figure at the time of writing. Market mood has improved slightly, a headwind for Greenback, which, despite that, is headed to sustain weekly gains of more

The Australian Dollar loses ground despite the hawkish RBA’s policy outlook. The AUD inches lower as the US Dollar appreciates amid less-dovish sentiment surrounding the Fed. CME FedWatch Tool suggests a 97% chance of a 25-basis-point rate cut by the Fed in November. The Australian Dollar (AUD) edged lower against the US Dollar (USD) on

CTA trend followers are adding to their Palladium longs as price action triggers uptrend signals, TDS’ Senior Commodity Strategist Daniel Ghali notes. CTAs are set to sell at a large-scale over the coming week “Fear is the trade, given the US has requested G7 nations consider these inclusions, but the EU has already stopped short

USD/JPY falls due to mild correction in the US Dollar. US flash S&P Global PMI for October came in better than projected. Investors doubt whether the BoJ will hike interest rates again in the remainder of the year. The USD/JPY pair falls to near 152.00 in Thursday’s North American session after refreshing a 12-week high

The Pound Sterling (GBP) is holding up relatively well against the stronger USD, trading little changed on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes. GBP steadies near 100-day MA “BoE officials are speaking again in Washington, with Governor Bailey and MPC member Breeden on tap. Markets continue to price in a 1/4 point

Bank of Canada (BoC) is expected to cut its policy rate by 50 bps. The Canadian Dollar remains on the defensive against the US Dollar. Headline inflation in Canada dropped below the bank’s 2% target. The BoC will also release its Monetary Policy Report (MPR). There is broad anticipation that the Bank of Canada (BoC)

NZD/USD rebound from over a two-month low amid a modest USD downtick. A combination of factors should limit the USD slide and cap gains for the pair. The setup supports prospects for the emergence of fresh selling at higher levels.  The NZD/USD pair stages a modest recovery from the 0.6020 area, or its lowest level

The US Dollar trades mildly up as the possible escalation in the Middle East conflict drives flows towards the Greenback.  Fed speakers are starting to align with market expectations for gradual to no rate cuts this year.  The US Dollar Index rally could pick up steam if Donald Trump leads further in the polls.  The

The Australian Dollar appreciates following the PBoC’s rate cuts on Monday. The PBoC has reduced the 1- and 5-year Loan Prime Rates to 3.10% and 3.60%, respectively. The Aussie Dollar appreciated as domestic upbeat labor data has lowered the odds of a RBA’s rate cut this year. The Australian Dollar (AUD) extended its winning streak

EUR/USD rebounded on Friday, clipping a week-long losing streak. A last-second recovery in Fiber bids came from broad-market Greenback weakness. The Euro remains poised for further losses after another rate cut from the ECB this week. EUR/USD drifted into a rebound on Friday, snapping a four-day losing streak. A wider selloff in Greenback flows off

Gold rises 0.98%, reaching $2,720 as geopolitical tensions and US election concerns drive demand for safe-haven assets. Falling US Treasury yields and the weakening US Dollar further boost Bullion prices, with the US Dollar Index dropping to 103.45. Analysts predict continued Gold gains with Citi’s Max Layton forecasting prices could reach $3,000 an ounce within

Silver surges past $32.00, driven by falling US Treasury yields, with prices up 2.26% during the North American session. The RSI indicates growing bullish momentum, with key resistance levels at $32.95 and $33.00 in sight. A pullback below $32.00 could see support at $31.32, with stronger backing around the 50-DMA at $30.13. Silver’s price skyrocketed

Both OPEC and the IEA revised their oil demand forecasts downwards again this week, Commerzbank commodity analyst Carsten Fritsch notes. Oil market to face a significant oversupply next year “OPEC now expects an increase of 1.9 million barrels per day this year and 1.7 million barrels per day next year. That is 100,000 barrels per

The Australian Dollar rises as the solid employment data diminish the odds of RBA’s rate cuts in 2024. China’s Gross Domestic Product is expected to report 4.5% growth YoY in Q3, compared to the previous 4.7% reading. The US Dollar received support from a solid US Retail Sales report, fueling the likelihood of the Fed delivering

The US Dollar (USD) is likely to trade in a range between 7.1100 and 7.1430. In the longer run, strong and sudden surge suggests further USD strength to 7.1600, potentially 7.1900, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. USD to trade in a range between 7.1100 and 7.1430 24-HOUR VIEW: “Two

Mexican Peso weakened as US Dollar gains despite falling US yields. IMF downgrades Mexico’s 2024 GDP growth outlook, citing capacity constraints and tight monetary policy. US import prices fell sharply in September, while Fed’s Bostic remains optimistic about inflation hitting the 2% target. The Mexican Peso depreciated in early trading on Wednesday as the US