FX

Share: The US Dollar trades softer across the board on Wednesday.  US Federal Reserve Chairman Jerome Powell is heading to Capitol Hill for his semi-annual testimony.  The US Dollar Index snaps an important support, looking bleak ahead of the ECB decision and NFP data. The US Dollar (USD) is facing some firm selling pressure on

Share: Australia’s Gross Domestic Product (GDP) grew 0.2% in the fourth quarter of 2023 compared with the 0.3% growth in Q3, the Australian Bureau of Statistics (ABS) showed on Wednesday. This reading came in below expectations of 0.3%. The annual fourth-quarter GDP expanded by 1.5%, compared with the 2.1% growth in Q3 while beating estimates of a

Share: Natural Gas prices are jumping higher in both the European and US futures markets.  US gas exports declined at the end of February, while some US producers are cutting output. The US Dollar Index trades around 104.00 ahead of Super Tuesday and US PMI numbers.  Natural Gas (XNG/USD) trades in the green for a

Share: USD/CAD remains flat around 1.3575 in Tuesday’s early Asian session.  Fed’s Bostic said there’s no urgency to cut interest rates given the US economy’s strength.  The BoC is expected to hold rates at 5% at its June meeting on Wednesday. The USD/CAD pair holds below the 1.3600 barrier during the early Asian trading hours

Share: EUR/USD nudges higher. Economists at Scotiabank analyze the pair’s outlook. Narrower EZ/USD spread lifts EUR EUR/USD has been supported by narrowing spreads versus the USD in the past couple of weeks. A clearly dovish ECB may undermine that trend, and weigh on the EUR, but a hold and ‘no rush’ messaging may support a firmer

Share: Gold price holds positive ground near $2,085.55 in Monday’s early Asian session.  The US ISM Manufacturing PMI came in worse than expected, dropping to 47.8 in February from 49.1 in January.  Fed’s Bostic said the central bank would cut rates in the summertime if the economy evolves as he expects.  Gold price (XAU/USD) rose

Share: EUR/USD vaults back into 1.0840 following market pivot. Market risk sentiment sees a late-week recovery on Friday. US Manufacturing PMI unexpectedly declines, sparking rate cut hopes. EUR/USD caught a bounce from 1.0800 after markets pivoted into a risk-on stance following Friday’s US ISM Manufacturing Purchasing Managers Index (PMI) declined, flubbing forecasts and stepping deeper

Share: Gold price catapults to $2,088.33, marking a significant rally in response to US economic reports and bond yield dynamics. Mixed manufacturing PMI reports fuel Gold’s ascent with ISM data indicating contraction in US manufacturing sector. Declining US Treasury yields bolster Gold’s attractiveness, pushing XAU/USD to new year-to-date peak. Gold price soars to a new

Share: Another shutdown is looming in the US. What does all this mean for the Dollar? Economists at Commerzbank analyze Greenback’s outlook. Yet another shutdown in the US?  This is not the first time that a shutdown is looming. There have also been longer actual shutdowns until an agreement was reached in Congress. In the

Share: The latest Monetary Policy Report from the Federal Reserve (Fed) highlights the US central bank’s stance on the current economic and inflation outlook, and what it will take for Fed policymakers to feel comfortable enough to begin cutting interest rates. Key highlights Inflation expectations are broadly consistent with 2% goal. Labor market remains tight,

Share: WTI Oil jumps to $78, trying to break higher. Oil traders are seeing bullish signals as US macroeconomic data points to a recovery and OPEC looks set to lengthen its production cuts.  The US Dollar Index is back above 104.00, though it is unable to clearly break away from a pivotal level.  Oil prices

Share: Crude Oil capped after US stocks increase. US PCE print limits risk appetite. Geopolitical headline tension is easing slightly. West Texas Intermediate (WTI) US Crude Oil traded closely with the $78.00 handle on Thursday as bullish Crude Oil momentum stopped in its tracks as rising US Crude Oil stocks begin to weigh on energy

Share: NZD/USD plunged by after the Reserve Bank of New Zealand (RBNZ) reverted to a dovish hold. Economists at DBS Bank analyze Kiwi’s outlook. Fed Chair Powell will seek to discourage markets from repricing excessive rate cuts With the RBNZ’s rate hike bias diminished, NZD/USD is vulnerable to a stronger Greenback on US data surprises

Share: EUR/USD drifted below 1.0800 after EU sentiment missed the mark. US GDP came in mixed, driving EUR/USD back to baseline. US PCE inflation to be the key data release this week. EUR/USD sagged early Friday after European sentiment indicators came in below expectations, and a lopsided print in US Gross Domestic Product (GDP) figures

Share: Gold price falls sharply as Fed policymakers maintain a hawkish narrative. The US Dollar strengthens as market expectations for early Fed rate cuts ease. Investors await the US core PCE inflation data for fresh guidance. Gold price (XAU/USD) comes under pressure in Wednesday’s European session as Federal Reserve (Fed) policymakers are not interested in

Share: GBP/USD lacked momentum on Tuesday. US data missed the mark, traders await US GDP. US PCE inflation also due this week for Fed watchers. GBP/USD cycled around 1.2680 on Tuesday as markets look for a fresh push from the Federal Reserve (Fed) with investors steadily pushing away from elevated rate cut bets. US Gross

Share: US stock index futures trade marginally higher following Monday’s choppy action. January Durable Goods Orders data will be featured in the US economic docket. Stock markets could react to US PCE inflation figures later in the week. S&P 500 futures rise 0.10%, Dow Jones futures are unchanged, and Nasdaq futures gain 0.19% ahead of

Share: USD/CAD continues Friday’s thin drift near the 1.3500 handle. Canada wholesale trade likely fell 0.6% in January. US New Home Sales rose 1.5% vs 7.2% previous, Durable Goods due tomorrow. USD/CAD is stuck in a slow drift near 1.3500 as markets gear up for the week. Economic data remains thin on Monday, and traders