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Euro rebounded notably today despite the absence of substantial news from Europe. Sterling followed suit, shrugging off poor UK retail sales data. Conversely, Dollar ignored upbeat durable goods data and weakened alongside Yen and Swiss Franc. Commodity currencies displayed mixed performance. It appears that traders are lightening up their positions ahead of the long weekend

The latest report here today continues to exemplify the notion above. Even before their decision in March, the BOJ was already facing a race against the clock after having already sat on its hands throughout the whole of last year. They wanted to wait on the spring wage negotiations to confirm their conviction. And in

Gold rose on Friday but was set for its first weekly drop in three weeks, as investors lowered expectations of a U.S. interest rate cut after the Federal Reserve‘s latest meeting indicated that there would be a delay in monetary policy easing. FUNDAMENTALS * Spot gold rose 0.2% at $2,332.14 per ounce, as of 0119

Trading has been relatively quiet in Asian session today. Dollar regained some ground overnight following hawkish minutes from the latest FOMC meeting, which revealed that several members are prepared to support further rate hike if necessary. Despite this, the greenback lacks clear follow-through momentum at present. For a more sustained near-term rebound, Dollar will need

The major European stock indices are closing the session with mixed results: German DAX, +0.06% France CAC, +0.13% UK FTSE 100 under, -0.37% Spain’s Ibex, -0.16% Italy’s FTSE MIB +0.02%. As London/European traders look to exit for the day, the Dow industrial average is lower while the S&P and NASDAQ indices are higher. The S&P

Oil prices fell on Thursday for the fourth session in a row, as the prospect of higher-for-longer U.S. interest rates raised worries around demand growth in the world’s biggest oil market. Brent crude oil futures were down 45 cents, or 0.6%, at $81.45 a barrel by 11:50 am ET (1550 GMT). U.S. West Texas Intermediate

As trading progresses into US session, activity in the forex markets remains relatively muted. Euro is showing signs of recovery ahead of key support levels against Dollar and crucial support against Sterling. Eurozone PMIs revealed that economic recovery is strengthening, with Germany, the region’s largest economy, finally catching up. Despite this positive data, Euro’s gains

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Gold prices were listless on Thursday after a recent rally lost steam to dip more than 1% in the previous session, as traders started pulling back their expectations of rate cuts by the U.S. Federal Reserve this year. FUNDAMENTALS * Spot gold held its ground at $2,377.48 per ounce, as of 0113 GMT. Bullion hit

New Zealand Dollar surged sharply higher following RBNZ’s unexpectedly hawkish rate decision. While OCR was left unchanged, the central bank signaled the increased possibility of another rate hike this year and delayed projected timing of the first rate cut to the second half of 2025. However, Kiwi quickly gave back some of its gains after

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Oil prices fell more than 1% on Wednesday, retreating for a third straight day on expectations that U.S. interest rate cuts might be deferred due to sustained inflation, potentially affecting demand in the world’s largest oil user. The market also slipped as U.S. crude oil and gasoline inventories rose last week, according to market sources

Sterling climbed broadly today after data showed that UK disinflation progress was slower than anticipated, with services inflation remaining persistently high. This development dashed hopes for an imminent rate cut by BoE, causing the odds of a rate cut in June to plummet from around 50% to below 20%. Despite this, the notable declines in

We had some data from Japan today: Reuters Tankan, April trade data, March machine orders data. None of it moved the yen too much. We also had comments from Fed officials, Federal Reserve Bank of Cleveland President Loretta Mester and Federal Reserve Bank of Boston President Susan Collins. Both emphasised that rates would be held

Gold prices were steady on Wednesday and hovered above key $2,400 level touched earlier this week, supported by safe-haven buying and the prospect of interest rate cuts from the U.S. Federal Reserve later this year. FUNDAMENTALS * Spot gold held its ground at $2,422.45 per ounce, as of 0106 GMT. Bullion hit a record high

Australian Dollar weakened broadly during Asian session as its recent rally lost momentum. Despite RBA minutes revealing that a rate hike was considered earlier this month, which should have been supportive for the Aussie, this positive sentiment was countered by weak consumer sentiment readings. Additionally, Aussie seemed to be weighed down by a pullback in

Major US stock indices have erased earlier declines in trade in positive territory. The S&P index is probably up 4.78 points or 0.09% at 5312.87. It is above its all-time high closing level of 5308.14. The NASDAQ index which closed at a record level yesterday is currently up 3.01 points or 0.02% at 16797. Anything

Oil prices dropped by more than $1 on Tuesday, extending losses on the potential for lingering U.S. inflation to keep interest rates higher for longer, depressing consumer and industrial demand. Brent crude futures fell by $1.54, or 1.8%, to $82.17 a barrel by 1210 GMT. U.S. West Texas Intermediate crude (WTI) futures for June, which