Dollar firm ahead of Powell testimony, sterling up on hot inflation
Dollar firm ahead of Powell testimony, sterling up on hot inflation The dollar was firmer on Wednesday leading into Federal Reserve Chair Jerome Powell’s appearance before Congress where he is expected to strike a hawkish tone, while sterling firmed slightly after hotter-than-expected British inflation data. The annual pace of British consumer price gains was steady […]
US Dollar holds steady to start week, eyes on central bank speak
US Dollar holds steady to start week, eyes on central bank speak The US Dollar (USD) holds steady early Monday after having suffered large losses against its major rivals last week. Stock and bond markets in the US will be closed in observance of the Juneteenth holiday. The European economic docket will not be featuring […]
XAU/USD defends 100-day SMA ahead of the crucial FOMC decision
XAU/USD defends 100-day SMA ahead of the crucial FOMC decision Gold price once again attracts some buyers near the 100-day Simple Moving Average (SMA) on Wednesday and recovers a part of the previous day’s slide to the weekly low. The XAU/USD sticks to its modest intraday gains heading into the European session and currently trades […]
XAU/USD bears approach $1,930 support on upbeat US Dollar
XAU/USD bears approach $1,930 support on upbeat US Dollar Gold Price (XAU/USD) stays on the bear’s radar for the second consecutive day as the precious metal renews intraday low near $1,945, extending the post-NFP losses amid to early Monday amid firmer US Dollar and the Treasury bond yields. That said, the US Dollar Index (DXY) […]
USD/JPY Regains Strength
USD/JPY Regains Strength USD/JPY climbed higher above the 132.50 resistance zone. A connecting bullish trend line is forming with support near 134.50 on the 4-hour chart. EUR/USD slowly moved below the 1.0620 support zone. The US GDP grew 2.7% in Q4 2022, less than the 2.9% forecast. The US Dollar gained strength for a steady […]
Gold & silver Struggle Despite Weak US dollar
Gold & silver Struggle Despite Weak US dollar Gold came off its earlier highs while silver turned a touch lower in what has been a quietish day. The US dollar fell further lower, extending it sharp losses from Friday when weak ISM data raised speculation that the Fed will be forced to cut interest rates […]
AUD/USD falls to new 18-month low
AUD/USD falls to new 18-month low AUD/USD continues to lose ground and can’t find its footing. The Aussie started the week on the wrong foot, with a decline of 1.0% on Monday. AUD/USD is trading at 0.6266 down 0.52%. Earlier the day, the Australian dollar fell to 0.6247, its lowest level since April 2020. Australia […]
Corporate Earnings of US & China Increases the Nation’s Currency Prices
US Dollar Gets strong as Corporate earnings grow in the market The corporate earnings of the US and China have made their currency strong. Traders were feeling high when they saw that the corporate earnings were running strong and the factors like US/China economic and trade situations were also going strong. All this news came […]