FX

EUR/USD trades with mild losses near 1.0745 in Wednesday’s early European session.  The negative outlook of the pair remains intact below the key 100-day EMA.  The first upside barrier will emerge at 1.0786; the initial support level is seen at 1.0650. The EUR/USD pair consolidates gains around 1.0745 during the early European session on Wednesday.

USD/CAD corrects sharply as Fed Powell admits progress in the disinflation process. Fed Powell sees risks to price pressures as more balanced. This week, investors will pay close attention to the labor market data for June from the US and Canada. The USD/CAD pair extends its correction to near the round-level support of 1.3700 in

Silver drifts lower during the Asian session on Tuesday and snaps a three-day winning streak. The mixed technical setup warrants some caution before placing aggressive directional bets. A sustained strength beyond the $30.00 mark is needed to negate any near-term negative bias. Silver (XAG/USD) struggles to capitalize on its modest gains registered over the past

In the first half of 2024, the global financial landscape witnessed an increase in the momentum of dedollarisation. The movement is driven by various geopolitical, economic, and strategic factors by countries seeking to diversify their currency holdings and reduce vulnerability to the US monetary policy and financial and economic sanctions, DBS macro analysts Philip Wee

The Japanese Yen hovers around its 38-year low of 161.28. The JPY may limit its downside due to possible intervention by Japanese authorities. The US Dollar struggles as recent inflation data raise expectations of Fed rate cuts in 2024. The Japanese Yen (JPY) remains tepid on Monday near its lowest level of 161.28 since 1986.

Gold falls from daily highs, pressured by elevated US Treasury yields. May US PCE Index meets forecasts, fuels hope for 2024 Fed rate cuts. US 10-year yield hits 4.339%, a high since June 12; DXY at 105.80, down 0.08%. Gold prices retreated during Friday’s session after an inflation report revealed progress in the disinflationary process

AUD rose against USD due to US inflation reduction and a potential dovish stance from the Fed. Soft PCE data from the US may benefit the Aussie policy divergence between the RBA and Fed. RBA’s delayed rate cuts could bolster the Aussie, contrasting with other G10 central banks’ reduction strategies. Friday’s session recorded a significant

US Dollar saw a slight dip at the end of the week, clearing daily gains. US Dollar finds support amid high US Treasury yields. May’s PCE data showed an unexpected deceleration in US inflation. The end of the week saw the US Dollar, as benchmarked by the DXY Index, settle near 105.80, after hitting a

Canadian Dollar bolstered by rising market sentiment. Canada posted a 0.3% uptick in GDP, propping up CAD. US PCE inflation also ticked lower, further bolstering rate cut hopes. The Canadian Dollar (CAD) found some room on the high side on Friday, pushing up by a scant tenth of a percent against the US Dollar amid

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