FX

USD/CAD trades flat at around 1.3700 after a big data day for the pair.  Canadian GDP showed a 0.3% rise in April suggesting a strong economy.  US PCE inflation data, the Fed’s preferred gauge, meanwhile, showed progress towards the Fed’s 2.0% target. USD/CAD trades flat at around 1.3700 on Friday after the release of Canadian

Gold price attracts some sellers and erodes a part of Thursday’s recovery from a two-week low. The USD advances to a fresh two-month high and exerts downward pressure on the commodity. Traders, however, seem reluctant to place directional bets ahead of the key US PCE Price Index. Gold price (XAU/USD) struggles to capitalize on the

GBP/USD climbs to 1.2652, up 0.25%, remaining under the 1.2703 weekly high. Technical stance neutral; daily MAs range between 1.2641 and 1.2557. ‘Evening star’ pattern and bearish RSI suggest potential drop; support at 1.2641/39 (100 & 50-DMAs), 1.2600, 1.2555 (200-DMA). For bullish move, GBP/USD must surpass 1.2700 and tackle resistance at 1.2730/40. The Pound Sterling

Gold prices remained broadly unchanged in United Arab Emirates on Thursday, according to data compiled by FXStreet. The price for Gold stood at 271.53 United Arab Emirates Dirhams (AED) per gram, broadly stable compared with the AED 271.41 it cost on Wednesday. The price for Gold was broadly steady at AED 3,167.11 per tola from

The Japanese Yen trades above 160.50 against the US Dollar. Traders are testing the Japanese government, which might not take action until Friday.  The US Dollar Index pops higher after some hawkish Fed comments.  The Japanese Yen (JPY) is retreating further and faces over 5% devaluation against the US Dollar since the Japanese government’s latest

Gold price drifts lower for the second straight day amid the Fed’s hawkish outlook. A September rate cut by the Fed remains on the table, which caps gains for the USD. Persistent geopolitical tensions contribute to limiting the downside for the XAU/USD. Gold price (XAU/USD) remains under some selling pressure for the second successive day

GBP/USD is steady as worse-than-expected US Consumer Confidence report, weighs on US Dollar. Technical outlook shows a ‘bullish piercing’ pattern, but momentum favors sellers, with RSI standing bearish. Key support levels will be 100-DMA and the May 3 high at 1.2640/34, with further losses eyed beneath the psychological level of 1.2600. Key resistance levels are

Gold prices fell in United Arab Emirates on Tuesday, according to data compiled by FXStreet. The price for Gold stood at 274.89 United Arab Emirates Dirhams (AED) per gram, down compared with the AED 275.67 it cost on Monday. The price for Gold decreased to AED 3,206.24 per tola from AED 3,215.36 per tola a

The Summary of Opinions for the June MPM suggested that the BoJ delayed additional policy rate hikes as it would like to wait for confirmation from the data. Meanwhile, there is a strong intention to reduce JGB purchase amounts, OCBC Rates Strategist Frances Cheung notes. BoJ to continue further monetary tightening “The BoJ said ‘any

Gold prices rose in United Arab Emirates on Monday, according to data compiled by FXStreet. The price for Gold stood at 274.62 United Arab Emirates Dirhams (AED) per gram, up compared with the AED 274.22 it cost on Friday. The price for Gold increased to AED 3,203.13 per tola from AED 3,198.43 per tola a

Australian Dollar has suffered extended declines in recent sessions as RBA gains slowly fade. PMI figures from Australia reveal weaker-than-expected data. Fragility in the Australian economy seems to be driving demand off the Aussie. In Friday’s session, the Australian Dollar (AUD) intensified its losses against its peers. The AUD/USD duo has been testing its notable

Gold reverses gains after hitting daily high of $2,368, down more than 1.70%. Strong US S&P Global PMI data boosts the US Dollar, with the DXY rising 0.14% to 105.80. Mixed US economic data keeps Fed rate cut speculation alive. Gold prices reversed course on Friday, moving down more than 1.70%. Economic data from the

With dovish signals from the European Central Bank’s (ECB) major European counterparts (the Bank of England and Swiss National Bank) and investors’ nerves still quite jittery on EU fiscal and political developments, the Euro is understandably under some pressure in the latter half of this week, Francesco Pesole, FX Strategist at ING argues. EU activity indicators

Thursday’s Bank of England (BoE) statement and minutes suggested officials are getting closer to cutting interest rates, ING’s FX Strategist Francesco Pesole notes. August cut is a must, GBP/USD set to fall under 1.25 “The recent upside surprises in services inflation (5.7%) are attributed to volatility related to annual price hikes, not a significant trend,

Data from the United Kingdom reflects a mixed picture of the economy. The Pound Sterling (GBP) has underperformed on the week relative to most of its core peers, Scotiabank’s Chief FX Strategist Shaun Osborne says. GBP struggles to find foothold “UK Retail Sales rose a stronger than expected 2.9% in May, reflecting a rebound in activity

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While industrial metal prices found some support, the hopes for fresh Chinese stimulus are failing to generate any material upside for the time being, TD Securities Senior Commodity Strategist Ryan McKay argues. Chinese stimulus fails to push industrial metals up “Our gauge of commodity demand is weakening amid a precarious global macro landscape, and our

Gold price gained some positive traction on Thursday amid September Fed rate cut bets. Geopolitical risks and political uncertainty in Europe also lend support to the XAU/USD. Rebounding US bond yields and a positive risk tone might cap any further positive move. Gold price (XAU/USD) attracts some buyers during the Asian session on Thursday and