FX

The Australian Dollar depreciates following the release of Trade Balance data on Thursday. Australia’s Trade Balance posted a surplus of 6,009 million MoM in July, against the expected 5,150 million. The US Dollar received downward pressure following recent downbeat economic data. The Australian Dollar (AUD) inches lower against the US Dollar (USD) despite positive Trade

Bank of Canada Governor Tiff Macklem is set to hold a press conference following the central bank’s third consecutive 25-basis point rate cut. [embedded content] Key Takeaways Inflation may bump up later in 2024; there is a risk that upward forces on inflation could be stronger than expected. Overall weakness in the Canadian economy is

Indian Rupee trades flat in Wednesday’s Asian trading hours.  Possible RBI interventions and lower crude oil prices might support the INR, while firmer USD could limit its upside.  Investors await the HSBC India Services PMI on Wednesday for fresh impetus.  The Indian Rupee (INR) holds steady on Wednesday. Traders remain vigilant for potential interventions from

EUR/USD drops below 1.1050 as the US Dollar performs strongly ahead of the ISM US Manufacturing PMI release for August. The Fed and the ECB are expected to cut interest rates this month. This week, investors will focus on the US NFP data for August. EUR/USD falls back after failing to extend recovery above the immediate resistance

The Japanese Yen edges higher as the government will allocate ¥989 billion to fund energy subsidies. The JPY faced challenges as weak Japanese manufacturing data fueled speculation that the BoJ might postpone further rate hikes. The US Dollar receives support from improving Treasury yields. The Japanese Yen (JPY) ended its four-day losing streak, edging higher

EUR/USD recovers as the chances remain quite high that the Fed might have to make steep cuts to interest rates.  The Euro gains support as interest rates in the Eurozone could stay higher for longer due to persistent wage inflation.  EUR/USD trades marginally higher in the 1.1060s on Monday, as the Euro (EUR) strengthens against the US Dollar

Gold price loses traction in Monday’s Asian session. The stronger USD undermines the yellow metal, while the dovish Fed might cap its downside.  Traders will focus on the US PMI data ahead of the employment report on Friday.  The Gold price (XAU/USD) extends its decline below the $2,500 psychological level on Monday. The firmer Greenback

EUR/USD trimmed to the downside on Friday, extending into a three day down streak. EU inflation brought no surprises, US PCE inflation kept rate bets on balance. Coming up next week: Last US NFP jobs data print before next Fed rate call. EUR/USD tilted further into the red on Friday, extending a downside move into

Gold falls below $2,500 following US PCE report, boosting likelihood of September Fed rate cut. Fed’s cautious policy easing strategy stirs uncertainty; markets favor a 25 bps cut. Traders’ bets on a 25 bps rate cut rise to 69%; odds for a 50 bps reduction fall to 31%, per CME FedWatch Tool. Gold prices tumbled

EUR/USD falls to near 1.1050 as the Eurozone inflation declines in line with estimates. Soft German inflation already boosted hopes of another ECB interest-rate cut in September. US PCE inflation for July rose steadily and remains softer than estimates. EUR/USD edges lower and remains below 1.1100 in Friday’s North American session. The major currency rises as the US Dollar

GBP/USD shows upward bias on daily chart, yet short-term RSI presents mixed signals. Hourly chart reveals bearish trend with the pair below 50, 100, and 200-HMAs; sellers aim for 1.3108 and potentially 1.3100. Additional supports at August 22 low of 1.3076 and August 20 high of 1.3052. Buyers reclaiming 200-HMA at 1.3148 could push recovery

The Pound Sterling falls below 1.3150 against the US Dollar after sticky US core PCE inflation. A decline in market expectations for the Fed’s large interest rate cuts supported the US Dollar. The policy-easing spell from the BoE is expected to be slower than that of its major peers. The Pound Sterling (GBP) extends its two-day losing spree

Gold price drops in Friday’s early Asian session. The stronger US GDP growth drags Gold price lower, but rising Fed rate cut expectations might help limit its losses.  All eyes are on the US PCE inflation data, which is due later on Friday.  Gold price (XAU/USD) loses momentum amid the firmer US Dollar (USD) on

The US Dollar trades strong and reverses nearly all losses incured last week.  Markets see risk on while US Dollar rolls through markets. The US Dollar Index rallies into the 101-region and looks good to hold gains for this Thursday. The US Dollar (USD) trades substantially stronger and has reversed in a few pairs the

Most recent article: Gold price dips as traders brace for US GDP data Gold price rebounds above $2,500 in Thursday’s Asian session.  Rising Fed rate cut expectations and ongoing conflicts in the Middle East underpin the yellow metal.  A firmer US Dollar might limit Gold’s upside.  Gold price (XAU/USD) recovers some lost ground on Thursday after

USD/JPY rises to near 145.00 as the US Dollar recovers strongly. Upbeat US Consumer Confidence eases US hard landing fears. Investors await the Tokyo CPI and the US core PCE inflation for July. The USD/JPY pair climbs to near 145.00 in Wednesday’s North American session. The asset strengthens as the US Dollar (USD) delivers a

The Bank of Japan (BoJ) Deputy Governor Ryozo Himino said on Wednesday that the financial and capital markets remain unstable and the Japanese central bank needs to monitor these developments with utmost vigilance. Key quotes The financial and capital markets remain unstable. The BoJ needs to monitor these developments with utmost vigilance. BoJ also intends to carefully examine

Silver price faces pressures in extending its upside above $30.00 as US bond yields surge. The Fed seems prepared to cut interest rates in September. Investors keenly await the US core PCE inflation data for July. Silver price (XAG/USD) struggles to extend its upside above the psychological resistance of $30.00 in Tuesday’s New York session.