FX

The Australian Dollar appreciates following the PBoC’s rate cuts on Monday. The PBoC has reduced the 1- and 5-year Loan Prime Rates to 3.10% and 3.60%, respectively. The Aussie Dollar appreciated as domestic upbeat labor data has lowered the odds of a RBA’s rate cut this year. The Australian Dollar (AUD) extended its winning streak

EUR/USD rebounded on Friday, clipping a week-long losing streak. A last-second recovery in Fiber bids came from broad-market Greenback weakness. The Euro remains poised for further losses after another rate cut from the ECB this week. EUR/USD drifted into a rebound on Friday, snapping a four-day losing streak. A wider selloff in Greenback flows off

Gold rises 0.98%, reaching $2,720 as geopolitical tensions and US election concerns drive demand for safe-haven assets. Falling US Treasury yields and the weakening US Dollar further boost Bullion prices, with the US Dollar Index dropping to 103.45. Analysts predict continued Gold gains with Citi’s Max Layton forecasting prices could reach $3,000 an ounce within

Silver surges past $32.00, driven by falling US Treasury yields, with prices up 2.26% during the North American session. The RSI indicates growing bullish momentum, with key resistance levels at $32.95 and $33.00 in sight. A pullback below $32.00 could see support at $31.32, with stronger backing around the 50-DMA at $30.13. Silver’s price skyrocketed

Both OPEC and the IEA revised their oil demand forecasts downwards again this week, Commerzbank commodity analyst Carsten Fritsch notes. Oil market to face a significant oversupply next year “OPEC now expects an increase of 1.9 million barrels per day this year and 1.7 million barrels per day next year. That is 100,000 barrels per

The Australian Dollar rises as the solid employment data diminish the odds of RBA’s rate cuts in 2024. China’s Gross Domestic Product is expected to report 4.5% growth YoY in Q3, compared to the previous 4.7% reading. The US Dollar received support from a solid US Retail Sales report, fueling the likelihood of the Fed delivering

The US Dollar (USD) is likely to trade in a range between 7.1100 and 7.1430. In the longer run, strong and sudden surge suggests further USD strength to 7.1600, potentially 7.1900, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. USD to trade in a range between 7.1100 and 7.1430 24-HOUR VIEW: “Two

Mexican Peso weakened as US Dollar gains despite falling US yields. IMF downgrades Mexico’s 2024 GDP growth outlook, citing capacity constraints and tight monetary policy. US import prices fell sharply in September, while Fed’s Bostic remains optimistic about inflation hitting the 2% target. The Mexican Peso depreciated in early trading on Wednesday as the US

The second largest U.S. bank performed better than expected, led by investment banking revenue. Banks have performed better than anticipated so far in the third quarter, and that includes Bank of America (NYSE:BAC). The nation’s second largest bank topped revenue estimates in the quarter, bringing in $25.3 billion in income. That was up less slightly

Gold price attracts some haven flows amid the risk-off mood and Middle East tensions. A modest USD downtick further benefits the XUA/USD, though the upside seems limited. Bets for smaller rate cuts by the Fed should limit the USD losses and cap the yellow metal. Gold price (XAU/USD) edges higher for the second straight day

GBP/USD remains confined in a familiar range held over the past week or so. Traders opt to wait on the sidelines ahead of the release of the UK CPI report. The technical setup favors bears and supports prospects for further losses. The GBP/USD pair extends its sideways consolidative price move on Wednesday and remains confined

Gold price reverses an Asian session dip and climbs to over a one-week top on Monday.  Geopolitical risks and bets that the Fed will cut rates continue to underpin the XAU/USD.  Odds for a less aggressive Fed easing boost the USD and might cap gains for the commodity.  Gold price (XAU/USD) turns positive for the

Gold gains 1% on Friday, set to end the week with 0.20% gains. US PPI data was slightly above expectations, suggesting inflation is down but stalling above target, while UoM Consumer Sentiment highlights concerns over rising living costs. Despite higher US Treasury yields, with the 10-year note rising to 4.081%, Bullion prices remain supported as

JPMorgan stock sails ahead on an impressive Q3 showing. GAAP EPS arrives 10% above Wall Street consensus.  Revenue benefits from investment banking, wealth management fees. Traders focus on setting new all-time high. JPMorgan (JPM) stock surged over 5% on Friday after the nation’s largest bank released earnings that strongly beat consensus. The Producer Price Index (PPI)

The Dow Jones climbed into an all-time peak on Friday. US PPI figures showed September producer-level inflation stayed flat overall. Upbeat bank earnings helped to further bolster equities. The Dow Jones Industrial Average (DJIA) rose over 400 points bottom-to-top on Friday, bolstered into a fresh record high of 42,837 after US Producer Price Index (PPI)

UK GDP expands 0.2% MoM in August, matches estimates GBP/USD battles 1.3050 after the UK data. The UK economy expanded by 0.2% over the month in August, having stagnated for the second consecutive month in July, the latest data published by the Office for National Statistics (ONS) showed on Friday. The reading matched the market

The Japanese Yen dropped to a two-month low against the USD amid the BoJ rate-hike uncertainty.  Some repositioning trade ahead of the US CPI report prompts profit-taking around the USD/JPY pair.  Rising bets for a 25 bps Fed rate cut move in November to limit losses for the USD and spot prices. The Japanese Yen

The US Dollar trades in the green against nearly every G10 currency on Wednesday.  Chinese markets are selling off again for the second day in a row on weak Golden Week numbers.  The US Dollar Index trades above 102.50 and looks to be on its way to 103.00. The US Dollar (USD) is tying up