USD/CAD maintains its position below the multi-year high of 1.4245 marked on Friday. CME FedWatch tool suggests full pricing in a quarter basis point cut by the Fed on Wednesday. The Canadian Dollar faced challenges as the BoC eased its monetary policy aggressively. USD/CAD inches lower after marking a multi-year high of 1.4245 on Friday, trading
FX
Silver struggles at $31.00, declines over 1% to test the 100-day SMA amid rising US bond yields. Technical outlook sees potential consolidation between the 100-day and 200-day SMAs, with key support at $29.49. Resistance levels ahead at $31.00 and $31.64, with potential upward movement towards $32.00 if regained. Silver prices dropped on Friday after buyers
EUR/USD rises to near 1.0500 as the US Dollar surrenders its intraday gains. French Macron appoints Francois Bayrou as Prime Minister, putting an end to political instability. The ECB reduced its key borrowing rates by 25 basis points on Thursday, but a few officials also discussed the possibility of a 50-bps cut. EUR/USD rise to nearly 1.0500 as
Oil prices are in search to end the week on a high note by attempting to close above $70.00. Traders are torn in their choice between a possible short term upside against a long term bearish turnout. The US Dollar Index trades below 107.00 and fails to hold onto gains. Crude Oil is making its
Broadcom becomes the ninth US company to achieve a $1 trillion market cap. Broadcom stock surged 21% on Friday after CEO Hock Tan gave bullish guidance. Hock Tan said on earnings call that the custom XPU market could reach $90 billion in three years. AVGO stock reaches an intraday high of $221.21. Broadcom (AVGO) stock
The US Dollar turns flat and sees earlier gains evaporate ahead of US trading session on Friday. The Greenback faces some downside pressure due to some profit taking after its steep rally earlier this week. The US Dollar Index (DXY) trades below 107.00 under pressure from some profit taking. The US Dollar (USD) is facing some
Cardano is a decentralized blockchain platform and cryptocurrency (ADA) designed to provide a more secure and scalable infrastructure for the development of decentralized applications (dApps) and smart contracts. Launched in 2017 by the Cardano Foundation and developed by IOHK (Input Output Hong Kong), Cardano is unique for its research-driven approach, leveraging peer-reviewed academic studies to
EUR/USD edges higher on Friday, settling at 1.0495 as it approaches the 20-day SMA. RSI rises sharply to 44 but remains in negative territory, indicating improving momentum within a bearish context. The EUR/USD pair managed a modest rebound on Friday, rising by 0.2% to 1.0495 after testing fresh lows earlier in the week. The pair
USD/CAD rises to a fresh four-year high near 1.4200 ahead of BoC monetary policy announcement and the US inflation. US core CPI is estimated to have grown steadily by 3.3% in November. Investors expect the BoC to cut interest rates by 50 bps on Wednesday. The USD/CAD pair posts a fresh four-year high near the
EUR/USD rises to near 1.0580 as investors await US CPI data for November and the ECB policy meeting. Investors expect the ECB to cut interest rates by 25 bps for the third time in a row. Fed Goolsbee forecasts the central bank to reach the neutral rate by the end of 2025. EUR/USD gains to near 1.0580 in
The increasing uncertainty in the Middle East and China’s purchases support Gold’s recovery. The US Dollar hesitates as strong US labour data did not curb hopes of further Fed interest-rate cuts next week. XAU/USD extends gains beyond the critical $2,665 price zone, needs to confirm channel breakout. Gold price (XAU/USD) nudges higher on Monday’s early European session, favoured
Amazon stock closes 2.94% higher at new all-time high. November NFP hits well above expectations on Friday. Amazon is still seeing positive vibes from its new AI chip. Amazon shares have risen in eight of last nine sessions. Amazon (AMZN) stock is up for the sixth consecutive session on Friday, a streak that began on
NZD/JPY fell to 87.48 on Friday, extending its weekly losses. Indicators are dangerously close to oversold conditions, signaling a potential correction. Bearish momentum remains intact, with risks of further downside. The NZD/JPY pair extended its decline on Friday, falling to 87.48 as selling pressure intensified. This marks a continuation of the bearish trend that began
Federal Reserve (Fed) Bank of Cleveland President Beth Hammack noted that while she believes it may be time for the Fed to begin slowing the pace of rate cuts, the Cleveland Fed head gave a nod to investors who are anticipating at least one more rate cut between now and the end of January. Hammack
Gold price bounces back and moves higher ahead of the US NFP data for November, which will influence market expectations for the Fed’s interest-rate path. Traders lean toward the Fed reducing interest rates by 25 basis points on December 18. The violation of truce terms between Israel and Hezbollah has reignited tensions in the Middle
US Dollar (USD) is expected to trade in a 7.2550/7.2800 range. In the longer run, current price movements are likely part of range trading, probably between 7.2400 and 7.2900, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note. USD to probably trade between 7.2400 and 7.2900 24-HOUR VIEW: “Following USD sharp pullback
Gold price ticks lower on Thursday amid a modest rebound in the US bond yields. Geopolitical risks and trade war fears limit losses for the safe-haven XAU/USD. The USD bulls remain on the sidelines ahead of the key US NFP report on Friday. Gold price (XAU/USD) sticks to its modest intraday losses during the early
The Pound Sterling experiences a whipsaw move after BoE Governor Bailey predicted four interest-rate cuts in 2025 as he expects the disinflation process is embedded. Traders expect the BoE to keep interest rates steady at 4.75% at this month’s meeting. Investors await a slew of US economic data and Fed Powell’s speech. The Pound Sterling (GBP) faces selling