FX

The negative outlook remains, RSI and MACD suggest bearish momentum. The multiple rejections by the 20-day SMA suggest that the buyer’s traction is too weak. A break from above mentioned average would improve the outlook. In Friday’s session, the EUR/GBP pair fell slightly by 0.15% to 0.8435, showcasing a negative technical outlook. Bears continue to

For very good reason the market is preoccupied by the potential policy decisions of the Federal Reserve, Rabobank’s Senior FX Strategist Jane Foley notes. Risk of EUR/USD dips back to 1.10 “In July, market expectations regarding a possible September rate cut from the Fed began to firm up.  Consequently, since the start of that month

Gold price scales higher for the second straight day and climbs to a fresh all-time high.  Rising bets for a larger Fed rate cut weigh on the USD and boost the precious metal. Geopolitical tensions contribute to driving flows towards the safe-haven XAU/USD. Gold price (XAU/USD) sticks to its modest intraday gains heading into the

Weak labor data led to a decline in the US Dollar during Thursday session. Initial Jobless Claims remained at 230K, indicating a persistent labor market. PPI fell short of expectations, signaling a potential easing of inflation, which also added to the USD’s downside. The US Dollar Index, which measures the value of the USD against

FX option expiries for Sept 12 NY cut at 10:00 Eastern Time, via DTCC, can be found below. EUR/USD: EUR amounts 1.0905 1b 1.0945 2.1b 1.0950 1b 1.0990 891m 1.1000 4.4b 1.1025 1.6b 1.1040 936m 1.1045 1.1b 1.1050 3.3b 1.1100 1.1b 1.1110 1.1b 1.1200 2.4b GBP/USD: GBP amounts      1.3050 416m USD/JPY: USD amounts                      140.00 981m 141.40 984m

GBP/USD edges lower after US inflation data suggests Fed to take a measured approach to easing GBP/USD is trading marginally lower in the 1.3060s on Wednesday after the release of US inflation data leads to an appreciation in the US Dollar (USD) amid prospects of a more measured approach to easing from the Federal Reserve

UK GDP comes in at 0% MoM in July vs. 0.2% forecast. GBP/USD battles 1.3100 after the UK data. The UK economy showed no growth over the month in July after stalling in June, the latest data published by the Office for National Statistics (ONS) showed on Wednesday. The market forecast was for a 0.2%

The GBP/USD is on the backfoot after spiking to a daily high of 1.3107 after a solid UK jobs report, though it has retreated below the 1.31 handle as traders await the release of US inflation data. At the time of writing, the pair trades at 1.3052, down 0.17%. Read More… The Pound Sterling (GBP) trades higher

AUD/USD recovers its intraday losses following the release of China Trade Balance data. China’s Trade Balance increased to CNY 649.34 billion in August, from the previous reading of CNY 601.90 billion. The US Dollar received support as recent labor data reduced the likelihood of an aggressive Fed rate cut in September. The AUD/USD pair gained ground after the

The EUR/GBP pair is consolidating sideways between 0.8410 and 0.8450. The RSI is flat at 43, while the MACD is also neutral with the MACD red bars declining. The pair could break out of this range if the volume picks up. In Monday’s session, the EUR/GBP pair mildly declined to 0.8440, facing a mixed technical

Silver price appreciates as weak US labor data raises the odds of a Fed rate cut at its September meeting. CME FedWatch Tool suggests fully pricing in at least a 25 basis point Fed rate cut in September. Chicago Fed President Goolsbee stated that Fed officials are starting to align with the broader market’s sentiment

NZD/USD falls 0.84% on Friday to trade at 0.6170. The RSI and MACD indicators align with the bearish outlook, signaling negative momentum. The 20-day SMA presents a strong barrier against the sellers. The NZD/USD pair has been trading lacklusterly within a narrow range, but Friday’s sharp decline has shifted the technical outlook to bearish, at

Gold tumbles after failing to break $2,531 resistance, closing at $2,493 as Fed rate cut speculation intensifies. US Nonfarm Payrolls missed estimates, but improved figures and rising hourly earnings fueled uncertainty over a 25 or 50 bps cut. Despite falling Treasury yields, the US Dollar Index recovered above 101.00, pressuring Gold prices further. Gold retreated

The NZD/JPY pair fell sharply on Friday and reaching a low of 87.85. The RSI has plunged to 36, indicating that the bears are in full control and the negative momentum is likely to persist. Bears have the 87.00 threshold on their sight. The NZD/JPY pair has maintained its bearish stance, extending the selloff that

Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Friday that Fed officials are finally beginning to catch up with the broader market’s view that the time has come for movement from the US central bank on policy rates, but downplayed discussion of a larger opening cut in September. Key highlights The job

US Dollar recovers ground after mixed August Nonfarm Payrolls data. Fed official downplayed discussions of a larger rate cut in September than 25 bps. Markets are seeing 40% odds of a 50 bps cut in the next Fed meeting. The US Dollar Index (DXY), a measure of the US Dollar against a basket of six

Short Term Elliott Wave in Dow Futures (YM) suggests that pullback to 38532 low on 8.5.2024 ended wave ((4)). The Index then turned higher and made a new all-time high in wave ((5)) as an impulse. Up from wave ((4)), wave 1 ended at 39619 and wave 2 pullback ended at 38689. The Index then

GBP/USD remains above 1.3100, with RSI showing buyers in control and eyeing 1.3200 resistance. Clearing 1.3179 would open the door to challenge the March 2022 high of 1.3298, with further upside to 1.3437. A pullback below 1.3150 could lead to testing key support at 1.3100 and 1.3044, with the 50-DMA at 1.2914. The GBP/USD aims