EUR/GBP Drops Near 0.8400 Ahead of Eurozone Retail Sales
EUR/GBP Drops Near 0.8400 Ahead of Eurozone Retail Sales EUR/GBP surrenders its recent gains from the previous session, trading around 0.8420 during Thursday’s Asian session. Traders are closely watching the Eurozone Retail Sales data set to be released later in the day. The decline in the EUR/GBP pair is driven by growing speculation that the […]
Gold Price Struggles to Gain Momentum as Traders Await New Catalysts
Gold Price Struggles to Gain Momentum as Traders Await New Catalysts The Gold price (XAU/USD) has rebounded from multi-day lows but remains under the $2,500 mark amid a renewed bid in the U.S. Dollar (USD) on Wednesday. Despite this, ongoing geopolitical risks and the potential for imminent Federal Reserve (Fed) rate cuts could support the […]
WTI Breaks Below $69.50 Amid Potential Libyan Dispute Resolution
WTI Breaks Below $69.50 Amid Potential Libyan Dispute Resolution West Texas Intermediate (WTI) oil prices extended their losses for the second consecutive day, trading around $69.40 per barrel during the Asian session on Wednesday. This decline is attributed to the potential resolution of a political dispute that had halted Libyan oil exports, alongside concerns over […]
GBP/USD Holds Steady Above 1.3100 Ahead of Fed Beige Book
GBP/USD Holds Steady Above 1.3100 Ahead of Fed Beige Book The GBP/USD pair remains stable around 1.3110 during the early European session on Wednesday. However, with a cautious market sentiment ahead of key U.S. events, the U.S. Dollar (USD) could gain some support, potentially pushing the pair lower. The U.S. JOLTS Job Openings and the […]
Gold Price Declines as Traders Await US PMI Data
Gold Price Declines as Traders Await US PMI Data The price of gold (XAU/USD) is under pressure, falling on Tuesday due to a stronger US Dollar (USD) and rising US Treasury bond yields. Despite this, expectations of a potential interest rate cut by the US Federal Reserve (Fed) in September may provide some support for […]
USD/CAD Nears 1.3550 as Traders Evaluate ISM Manufacturing PMI
USD/CAD Nears 1.3550 as Traders Evaluate ISM Manufacturing PMI The USD/CAD pair is experiencing gains for the second straight day, trading around 1.3520 during early European hours on Tuesday. This upward movement is driven by a stronger US Dollar (USD), amid diminishing chances of an aggressive interest rate cut by the US Federal Reserve in […]
How to Trade the EUR/CHF Currency Pair
How to Trade the EUR/CHF Currency Pair Although Switzerland is not a member of the European Union (EU), it maintains a close relationship with the EU through over 100 bilateral treaties, allowing it to participate in some aspects of the EU’s single market. Historically, the Swiss franc was pegged to the euro at a rate […]
WTI Falls to Around $72.50 as OPEC+ Plans Production Increase
WTI Falls to Around $72.50 as OPEC+ Plans Production Increase West Texas Intermediate (WTI) crude oil prices have declined for the second consecutive session, trading near $72.50 per barrel during Monday’s Asian trading hours. This downward trend is largely attributed to reports that the Organization of the Petroleum Exporting Countries and their allies (OPEC+) are […]
Japanese Yen Pares Intraday Gains Despite Hawkish BoJ Stance
Japanese Yen Pares Intraday Gains Despite Hawkish BoJ Stance The Japanese Yen (JPY) has lost momentum against the US Dollar (USD), reversing some intraday gains after the release of the US Personal Consumption Expenditures (PCE) Index data for July. This data dampened expectations for a significant interest rate cut by the Federal Reserve (Fed) in […]
USD/CHF weakens below 0.8500, eyes on Swiss CPI, GDP data
USD/CHF weakens below 0.8500, eyes on Swiss CPI, GDP data The USD/CHF pair declines towards 0.8490 during early European trading on Monday. This drop is driven by a weaker US Dollar (USD) amid rising expectations that the US Federal Reserve (Fed) might cut interest rates in its September meeting. Upcoming economic data from Switzerland, including […]
Gold Price Gains Momentum as Traders Await US GDP Data
Gold Price Gains Momentum as Traders Await US GDP Data Gold prices (XAU/USD) are recovering on Thursday, bouncing back from weekly lows in the sub-$2,500 region per troy ounce. The potential for US interest rate cuts is boosting gold demand, as lower interest rates decrease the opportunity cost of holding non-yielding gold. Political uncertainty in […]
USD/CHF Extends Decline Near 0.8400 as Investors Await US GDP Data
USD/CHF Extends Decline Near 0.8400 as Investors Await US GDP Data The USD/CHF pair is experiencing selling pressure, trading around 0.8405 during early European hours on Thursday. Dovish comments from US Federal Reserve (Fed) officials continue to weigh on the US Dollar (USD). At the Fed’s annual Jackson Hole retreat last week, Fed Chair Jerome […]
Pound Sterling Drops from Recent Highs as Attention Turns to US Core PCE Inflation
Pound Sterling Drops from Recent Highs as Attention Turns to US Core PCE Inflation The Pound Sterling (GBP) has pulled back from a more-than-two-year high of 1.3266 against the US Dollar (USD) during Wednesday’s London session. The GBP/USD pair has dipped as the US Dollar regains some strength, with investors now focusing on the upcoming […]
USD/CAD Rebounds Above 1.3450 as Risk Sentiment Worsens Ahead of Fedspeak
USD/CAD Rebounds Above 1.3450 as Risk Sentiment Worsens Ahead of Fedspeak The USD/CAD pair has regained some ground, trading around 1.3460 during the early European session on Wednesday, breaking a three-day losing streak. This recovery is supported by a modest bounce-back in the US Dollar (USD). Market participants will look for further direction from speeches […]
Forex Today: Choppy Market Action Persists as Investors Await Next Catalyst
Forex Today: Choppy Market Action Persists as Investors Await Next Catalyst After hitting its lowest level in over a year near 100.50, the US Dollar Index (DXY) rebounded toward 101.00 during the European session on Wednesday. With no high-impact economic data releases scheduled for midweek, investors remain focused on central bank commentary and geopolitical developments. […]
Top 5 Benefits of Using a Demo Trading Account
When you talk to any experienced trader, they will likely list countless advantages of using a demo trading account, especially for beginners. Here are five key benefits you might want to consider: Develop Your Trading Skills in a Risk-Free Environment A demo trading account is like having access to free Forex training. It allows you […]
Rate Cuts Could Facilitate a Soft Landing: UBS
Rate Cuts Could Facilitate a Soft Landing: UBS In a note released on Monday, UBS Financial Services reiterated its forecast that the U.S. economy is on track for a soft landing, despite acknowledging significant risks of a potential downturn. Consumer spending will be a critical factor in determining whether the economy can achieve this outcome. […]
Australian Dollar Advances on Improved Risk Sentiment
Australian Dollar Advances on Improved Risk Sentiment The Australian Dollar (AUD) has moved higher against the US Dollar (USD) on Tuesday, hovering just below the seven-month high of 0.6798 reached on Monday. The downside for the AUD/USD pair appears limited as traders anticipate diverging policy outlooks between the Reserve Bank of Australia (RBA) and the […]