Gold Price Holds Gains Around $2,670, Supported by Softer Risk Sentiment
Gold Price Holds Gains Around $2,670, Supported by Softer Risk Sentiment Gold (XAU/USD) continues to edge higher for the second consecutive day on Wednesday, extending its recent positive streak, reaching a one-and-a-half-week high around $2,670 during the Asian session. The ongoing geopolitical tensions in the Middle East are fueling a risk-off sentiment, which is providing […]
Japanese Yen Consolidates Against USD, Hovers Near Lowest Level Since Early August
Japanese Yen Consolidates Against USD, Hovers Near Lowest Level Since Early August The Japanese Yen (JPY) continues its sideways consolidation against the US Dollar (USD), remaining near its lowest level since early August during Monday’s early European session. Comments from Japanese Prime Minister Shigeru Ishiba last week, which were critical of further monetary tightening, have […]
Gold Price Holds Intraday Gains, But USD Strength Limits Upside Ahead of US PPI Data
Gold Price Holds Intraday Gains, But USD Strength Limits Upside Ahead of US PPI Data Gold (XAU/USD) has retreated slightly from a three-day high, trading around the $2,640 level during early European hours on Friday. Despite the dip, the precious metal remains up over 0.40% for the day. A rise in U.S. weekly jobless claims […]
How to Use Forex Technical Analysis to Gain Insights on Market Trends
Forex trading provides opportunities to profit from market fluctuations, but understanding trends and key data is crucial for effective trading. This is where technical analysis becomes essential, as it focuses on price movements and trading volume to uncover patterns and market direction. What Is Technical Analysis? Technical analysis involves studying price movements and volume to […]
Gold Price Recovers from Multi-Week Low, but Upside Potential Remains Limited Ahead of US CPI
Gold Price Recovers from Multi-Week Low, but Upside Potential Remains Limited Ahead of US CPI Gold (XAU/USD) is experiencing a modest rebound on Thursday, recovering from a six-day losing streak that pushed prices to a near three-week low, around the $2,605-$2,604 range. This intraday uptick is likely due to repositioning ahead of the crucial US […]
New Zealand Dollar Hits Seven-Week Low After RBNZ Cuts Interest Rate by 50 bps
New Zealand Dollar Hits Seven-Week Low After RBNZ Cuts Interest Rate by 50 bps The New Zealand Dollar (NZD) has dropped to its lowest level since mid-August, following the Reserve Bank of New Zealand’s (RBNZ) decision to cut the Official Cash Rate (OCR) by 50 basis points, lowering it from 5.25% to 4.75% at the […]
WTI Crude Oil Rises to $73.50 Amid Middle-East Tensions and Potential Supply Disruption
WTI Crude Oil Rises to $73.50 Amid Middle-East Tensions and Potential Supply Disruption West Texas Intermediate (WTI) crude oil continues its upward trend for the fourth consecutive day, trading near $73.50 per barrel during Friday’s Asian session. The rise in oil prices is primarily driven by escalating geopolitical tensions in the Middle East, raising concerns […]
Bitcoin and Crypto Market Continue Decline Despite Powell’s Hints at Rate Cuts
Bitcoin and Crypto Market Continue Decline Despite Powell’s Hints at Rate Cuts The cryptocurrency market remained in a downtrend on Monday, despite Federal Reserve (Fed) Chair Jerome Powell hinting at possible further interest rate cuts later this year. Crypto Market Slips Amid Speculation of Rate Cuts Fed Chairman Jerome Powell indicated that while the recent […]
How Responsible is the Polish Central Bank? – Commerzbank Analysis
How Responsible is the Polish Central Bank? – Commerzbank Analysis The Polish zloty weakened against the euro and other CE3 currencies yesterday after Poland’s Constitutional Court issued a controversial ruling. The court declared that NBP governor Adam Glapinski could not be held accountable by a parliamentary committee, the State Tribunal, or through any report by […]
EUR/USD Approaches YTD Highs Near 1.1050 on Expectations of Fed Rate Cuts
EUR/USD Approaches YTD Highs Near 1.1050 on Expectations of Fed Rate Cuts The EUR/USD pair climbed to year-to-date (YTD) highs, nearing 1.1040, during early European trading on Monday. This rise is supported by a broad weakening of the US Dollar (USD) amid increasing speculation that the Federal Reserve (Fed) might cut interest rates in September. […]
Gold Price Awaiting US Macro Data for Potential Gains
Gold Price Awaiting US Macro Data for Potential Gains Gold prices (XAU/USD) saw a decline on Wednesday as investors adjusted their expectations for the Federal Reserve’s (Fed) policy after the release of US consumer inflation data. However, persistent geopolitical tensions in the Middle East, expectations of the Fed initiating a rate-cutting cycle soon, and a […]
EUR/USD Appreciates Above 1.0900, Upside Limited by Middle East Tensions
EUR/USD Appreciates Above 1.0900, Upside Limited by Middle East Tensions The EUR/USD pair has broken its four-day losing streak, trading around 1.0920 during the Asian session on Monday. Traders are anticipating the preliminary Gross Domestic Product (GDP) data for the Eurozone’s second quarter, set for release on Wednesday. However, the Euro, being sensitive to risk, […]
Australian Dollar Appreciates Amid Hawkish Sentiment Surrounding RBA
Australian Dollar Appreciates Amid Hawkish Sentiment Surrounding RBA The Australian Dollar (AUD) strengthened against the US Dollar (USD) following comments from Reserve Bank of Australia (RBA) Governor Michele Bullock on Thursday. Bullock emphasized the need to remain vigilant about inflation risks, indicating the possibility of further rate hikes if necessary. She noted that inflation might […]
GBP/JPY Slides to 205.00 Amid Intervention Fears
GBP/JPY Slides to 205.00 Amid Intervention Fears The GBP/JPY pair continued its downward trend for the second consecutive day on Friday, moving away from its highest level since August 2008, which was around 206.15 earlier this week. Currently, the spot prices are trading just above the 205.00 psychological mark, down approximately 0.35% for the day. […]
Topix and Nikkei Hit Record Highs in Japan Stock Rally
Topix and Nikkei Hit Record Highs in Japan Stock Rally Japan’s Topix stock index surged past its bubble-era peak to reach a record high, signaling a broad-based rally beyond just a few stocks. The benchmark index rose as much as 0.6% to 2,890.52, exceeding the previous intraday record set in December 1989. Most of the […]
Gold Price Hits Multi-Day High, Awaits FOMC Minutes for Direction
Gold Price Hits Multi-Day High, Awaits FOMC Minutes for Direction Gold prices (XAU/USD) are seeing renewed buying interest during the Asian session on Wednesday, building on the previous day’s rebound from the $2,319-$2,318 support zone. Currently, the precious metal is positioned near the top end of its short-term trading range, which has held steady over […]
Pound Sterling Steady Ahead of US Core PCE Inflation Data
Pound Sterling Steady Ahead of US Core PCE Inflation Data The Pound Sterling (GBP) remains subdued against the US Dollar (USD) during Friday’s London session. The GBP/USD pair has edged down this week as investors exercise caution ahead of the US core Personal Consumption Expenditures (PCE) Price Index data for May, set to be released […]
Australian Dollar Rises as Higher Inflation Lowers RBA Rate Cut Odds
Australian Dollar Rises as Higher Inflation Lowers RBA Rate Cut Odds The Australian Dollar (AUD) has gained traction following the release of May’s Monthly Consumer Price Index (CPI), which came in higher than expected. This persistently high inflation poses a challenge to the Reserve Bank of Australia’s (RBA) potential rate cuts, thereby providing support to […]