Gold price falls on improving risk sentiment and an higher-than-expected rise in US employment costs. Positive gains in Asia, strong US earnings and robust European GDP data have all helped boost sentiment. Gold price may be unfolding a Measured Move price pattern lower on the charts. The Gold price (XAU/USD) weakens to just above the $2,300 level
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The Japanese Yen struggles to build on the previous day’s solid recovery from a multi-decade low. The divergent BoJ-Fed policy expectations and a positive risk tone undermine the safe-haven JPY. The emergence of some USD buying provides an additional boost to the USD/JPY pair on Tuesday. The Japanese Yen (JPY) staged a strong intraday recovery
AUD/USD is in a short-term uptrend that is extending. The pair is pulling back within a rising channel. It will probably find support at the lower channel line and then resume its uptrend. AUD/USD extends its short-term uptrend as it trades in the mid-0.6550s on Monday. AUD/USD 4-hour Chartç The pair has formed a neat
The Japanese Yen dives to a nearly 40-year low amid relatively thin liquidity on Monday. The divergent BoJ-Fed monetary policy and a positive risk tone weigh heavily on the JPY. Intervention fears cap USD/JPY amid a modest USD downtick and overbought conditions. The Japanese Yen (JPY) remains under heavy selling pressure on the first day
Canadian Dollar gets pushed around as investors focus elsewhere. Canada absent from economic calendar until next week. US PCE inflation remains higher than expected, weighing on rate cut hopes. The Canadian Dollar (CAD) took a back seat to broader market flows on Friday as investor focus remains pinned on decaying hopes for a rate cut
Mexican Peso strengthens against US Dollar, buoyed by positive market mood, mixed economic reports. US inflation remains hot as core PCE Price Index increases above March expectations. Mexico shows a deficit, yet Unemployment Rate drops, presenting mixed economic scenario. The Mexican Peso counterattacks registered solid gains versus the US Dollar on Friday as economic data
Alphabet reported Q1 earnings late Thursday that beat Wall Street estimates. YouTube advertising and the Cloud segment continue growing strong. Alphabet CEO Sundar Pichai introduces $0.20 cash dividend. GOOGL stock is trading between $169.31 and $174.68, Fibo levels. Alphabet (GOOGL), the parent of Google and YouTube, is clinging to a 10% gain midway through Friday after posting
The Japanese Yen weakens across the board after BoJ announced its policy decision. A shortlived spike in the Yen may be testament to an attempt by the Japanese authorities to intervene. US PCE Price Index shows higher-than-expected inflation but does little to impact USD/JPY which almost touches 157.00. The Japanese Yen (JPY) plummets to a
Gold price faces selling pressure near $2,350 as US Dollar rebounds. Higher US core PCE inflation data has prompted the US Dollar’s recovery. Market expectations for the Fed delaying rate cuts remain firm. Gold price (XAU/USD) falls from $2,350 in Friday’s early New York session as the United States annual core Personal Consumption Expenditure Price Index (PCE) data for
Following his meeting with US Secretary of State Antony Blinken early Friday, China’s Foreign Minister Wang Yi said that the Sino-US “relationship has stabilized but negative factors are building.” Additional comments Sliding into conflict with the US would be a lose-lose situation. We urge the US not to interfere with China’s internal affairs. In response,
It’s been a surprising week for the markets. Firstly, the US tech giants did not impact the markets as a unified block with the market favouring Tesla’s results over those from Meta, which is on track to record a deep decline on Thursday. Second, M&A activity in the UK market, which is propelling the FTSE
WTI edges lower to $82.45 on Thursday as the fear of wider war in the Middle East eased. Higher bets that the US Fed will delay rate cuts support the Greenback. US commercial crude stockpiles last week fell by 6.368 million barrels, the largest drawdown since mid-January. Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.45 on
The Pound Sterling struggles to hold recovery, driven by upbeat preliminary S&P Global/CIPS PMI report for April. Investors speculate that the BoE will shift to rate cuts in June or August meeting. BoE Haskel wants to see more slack in labor demand to gain confidence that inflation will sustainably return to the 2% target. The Pound Sterling
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The US Dollar steadies after a step back earlier as the Euro’s recovery weighs on the Greenback. Surprisingly upbeat PMI data from France, Germany and the Eurozone trigger substantial strength in the Euro. The US Dollar Index eases and snaps below 106.00. The US Dollar (USD) is a touch softer on Tuesday ahead of US
WTI loses momentum to nearly one-month lows of $82.00 on Tuesday. Easing tensions between Israel and Iran limits the WTI’s downside. A large build in the US stockpile in recent weeks and a hawkish Fed weigh on the black gold. Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.00 on Tuesday. The black gold edges lower on
Gold price drops as investors see no immediate escalation in Israel-Iran tensions. Fizzling Fed rate cut prospects combined with easing geopolitical fears weigh on Gold. Fed’s Goolsbee said progress in taming inflation has stalled. Gold price (XAU/USD) dips vertically after failing to recapture the crucial resistance of $2,400 in Monday’s early American session, driven by less
Gold price trades on a softer note near $2,385 on Monday. The hawkish shift in market sentiment could dampen demand for yellow metal. The rising conflict between Israel and Iran might lift the gold price. Gold Price (XAU/USD) attracts some sellers around $2,385 on Monday during the early Asian trading hours. The hawkish comments by Federal
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