FX

Gold appreciates with risk appetite returning as geopolitical fears ease..  Hopes that the Fed might hint towards monetary easing on Wednesday keep US Treasury yields near mid-term lows.  XAU/USD needs to break the $2,400 resistance to cancel the broader bearish structure. Gold price (XAU/USD) found buyers after a moderate pullback on Monday. The precious metal

EUR/USD lost grip of the 1.0850 level, poised for further downside. EU GDP data due on Tuesday as Fed rate call looms ahead. US NFP jobs data dump slated for Friday as markets bet on September rate cut. EUR/USD lost control of a near-term bullish recovery, testing into fresh two-week lows near the 1.0800 handle

The US Dollar (USD) is expected to trade in a range between 153.20 and 154.70. Weakness in USD appears to be stabilising; a breach of 155.00 would indicate that USD is not declining further, UOB Group FX analysts Quek Ser Leang and Peter Chia note. Closest resistance is at 154.70 24-HOUR VIEW: “After USD plummeted

AUD/USD holds positive ground near 0.6555 in Monday’s early Asian session.  The US PCE inflation increases 2.5% YoY in June, underscoring an improving inflation environment.  The RBA’s hawkish stance might support the Aussie.  The AUD/USD pair trades on a stronger note around 0.6555 during the early Asian session on Monday. The rising bets that the

NZD/USD slightly rebounds, hovering near the 0.5900 mark, but remains under a clear bearish influence. The pair lost more than 4% in July, underscoring a strong bearish outlook. The 0.5850 area is the last barrier against the sellers. In Friday’s session, the NZD/USD took a slight break from its continual downward trajectory, mildly rebounding to

Gold price bounces from daily lows of $2,356, now at $2,385. Fed’s preferred inflation gauge shows mixed results, edging closer to the 2% target. US Treasury yields slump as bonds rally, signaling potential for multiple Fed rate cuts this year. Gold price makes a U-turn after diving to two-week lows of $2,353 edges higher some

US Dollar DXY struggling to rebound amid mixed PCE figures and anticipations of Fed cuts. The possibility of a rate decrease by the Fed in September remains, though somewhat toned down. All eyes are now on next week’s FOMC decision. On Friday, the US Dollar, as depicted by the DXY, displayed some resilience despite encountering

Executive Board member of the European Central Bank (ECB) Isabel Schnabel hit the wires late on Friday noting that a single cut from the ECB doesn’t necessarily guarantee follow-up cuts, and that inflation in the EU, particularly services inflation, is proving a tricky beast to slay. Key highlights The first cut doesn’t automatically lead to

The US Dollar (USD) is expected to trade in a range between 152.80 and 154.80. Weakness in USD appears to be stabilizing; a breach of 155.00 would indicate that USD is not declining further, UOB Group FX analysts Quek Ser Leang and Peter Chia note. A breach of 155.00 to indicate USD has stabilized 24-HOUR

GBP/USD slid below 1.2860 on Thursday as GBP softens. Markets see roughly-even odds of a BoE rate cut. Lopsided US data bolstered the Greenback slightly, adding to Cable losses. GBP/USD floundered on Thursday, chalking in a third straight trading day in the red and declining below 1.2860 as market expectations of a Bank of England

The United States Gross Domestic Product is seen expanding at an annualized rate of 2% in Q2. The current resilience of the US economy bolsters the case for a soft landing. Markets expect the US Federal Reserve to start its easing cycle in September. The US Bureau of Economic Analysis (BEA) will publish the first

The Dow Jones shed over 500 points in the midweek market session. Investors balked after US PMIs came in firmly mixed and key earnings missed. US Manufacturing set to slow further, but Services PMIs expanded. The Dow Jones Industrial Average (DJIA) fell over 500 points on Wednesday after US Purchasing Managers Index (PMI) figures came

Gold is trading higher as stagflation fears bite, suggesting inflation may remain elevated amid slower growth.  The nomination of Kamala Harris as the Democrat presidential candidate further aids Gold as her policies are seen as less inflationary.  Gold is potentially unfolding a down-leg within a widening sideways trading range.  Gold (XAU/USD) recovers for a second

The Dow Jones failed to make meaningful headway on Tuesday. A trio of US data prints loom overhead throughout the week’s back half. With hopes of a September rate cut pinned, traders will be hoping for easing data. The Dow Jones Industrial Average (DJIA) went nowhere fast on Tuesday, sticking close to the day’s opening

The Pound Sterling falls against the US Dollar as BoE rate-cut bets surge. Weak UK Retail Sales lift bets supporting BoE rate cuts in August. Investors await the preliminary US/UK S&P Global PMI data for July. The Pound Sterling (GBP) continues to hold the key support level of 1.2900 against the US Dollar (USD) in

The FX universe traded mostly within a range bound theme, as investor assessed the political front in the US, while cautiousness kicked in ahead of important data releases due later in the week. Here is what you need to know on Tuesday, July 23: The USD Index (DXY) saw its recent uptick somewhat curtailed, faltering

There is scope for the Australian Dollar (AUD) to drop below 0.6660; it is too early to determine if 0.6640 is within reach, UOB Group FX strategists Quek Ser Leang and Peter Chia note. Is set to test 0.6640 24-HOUR VIEW: “We indicated last Friday that AUD could dip below 0.6680. We also indicated that

Friday’s trading session saw the NZD/JPY pair resuming its losses, exacerbating the bearish momentum. Cross ends the week with a near 2% loss. Sellers are pointing towards the 100-day SMA. In Friday’s trading session, the NZD/JPY pair extended its losses and slumped to 94.65, marking a 0.50% decline. Even though a slight rebound occurred on