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 […]
Oil Retreats as Markets Shift Focus to Demand Concerns
Oil Retreats as Markets Shift Focus to Demand Concerns Oil prices declined on Tuesday, ending a five-day rally as the market shifted its focus back to concerns over demand, following OPEC’s recent downward revision of its 2024 demand growth forecast due to weaker expectations in China. Global benchmark Brent crude futures dropped by 57 cents, […]
What’s Moving Markets: US CPI, Retail Earnings, and UK Inflation
What’s Moving Markets: US CPI, Retail Earnings, and UK Inflation Wall Street is poised to start the week slightly higher as investors closely watch the latest inflation data, seeking confirmation that the Federal Reserve might begin cutting interest rates in September. While the quarterly earnings season is winding down, the retail sector will take center […]
Gold Prices Slip as Recession Fears Diminish, Set for Weekly Losses
Gold Prices Slip as Recession Fears Diminish, Set for Weekly Losses Gold prices dipped in Asian trading on Friday, weighed down by positive U.S. labor data that boosted risk appetite and reduced demand for safe-haven assets. This decline put the yellow metal on track for weekly losses. In the industrial metals sector, copper prices also […]
Asian Stocks Climb on Eased Recession Worries, Positive China Inflation Data
Asian Stocks Climb on Eased Recession Worries, Positive China Inflation Data Asian stock markets saw gains on Friday as fears of an imminent U.S. recession eased, bolstered by mildly encouraging inflation data from China, which lifted investor sentiment. However, despite the upbeat session, regional markets were still on track to post weekly losses, having experienced […]
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 […]
EUR/USD Continues to Decline Near 1.0900 Amid US Dollar Strength
EUR/USD Continues to Decline Near 1.0900 Amid US Dollar Strength The EUR/USD pair is trading lower around 1.0915 after pulling back from seven-month highs near 1.1008 during the Asian session on Wednesday. A stronger US Dollar (USD) is putting downward pressure on the pair. Investors are now looking ahead to Germany’s June Trade Balance and […]
Gold Price Trades with Modest Losses Below $2,400, Downside Potential Appears Limited
Gold Price Trades with Modest Losses Below $2,400, Downside Potential Appears Limited Gold (XAU/USD) is struggling to build on the previous day’s rebound from the 50-day Simple Moving Average (SMA) support around the $2,365-$2,364 region, a one-week low, attracting some intraday selling pressure on Tuesday. The dip is driven by renewed US Dollar (USD) strength, […]
Australian Dollar Rises After Hawkish Remarks from RBA Governor Bullock
Australian Dollar Rises After Hawkish Remarks from RBA Governor Bullock The Australian Dollar (AUD) has strengthened following the Reserve Bank of Australia’s (RBA) recent monetary policy decision on Tuesday. The RBA opted to keep the Official Cash Rate (OCR) steady at 4.35% for the sixth consecutive time. After the decision, RBA Governor Michele Bullock spoke […]
EUR/JPY Stabilizes Around 157.00, Rebounds Following PMI Data
EUR/JPY Stabilizes Around 157.00, Rebounds Following PMI Data EUR/JPY continues its downtrend for the sixth consecutive day, trading around 156.90 during the early European session on Monday. However, the pair has trimmed some of its intraday losses after the release of key economic data, including the Eurozone Producer Price Index (PPI) and Germany’s Purchasing Managers’ […]
China’s Central Bank to Adjust Temporary Repos Based on Market Conditions
China’s Central Bank to Adjust Temporary Repos Based on Market Conditions The People’s Bank of China (PBOC) has announced measures to exert greater control over market interest rates by implementing additional open market operations and tightening the range within which short-term rates can fluctuate. The PBOC will now conduct bond repurchase or reverse repurchase operations […]
USD/CHF Extends Losses Amid Rising Fed Rate Cut Prospects
USD/CHF Extends Losses Amid Rising Fed Rate Cut Prospects The USD/CHF pair continues its decline for the fourth consecutive trading day on Monday, staying below the key psychological level of 0.9000. This decline is primarily driven by a weakening US Dollar (USD) amid increasing speculation that the Federal Reserve (Fed) will shift towards policy normalization […]
Pound Holds Steady as Labour Eyes Election Majority
Pound Holds Steady as Labour Eyes Election Majority UK equity-index futures rose, and the pound maintained its recent gains following an exit poll suggesting the Labour Party will secure a clear mandate for greater economic stability. Contracts on the FTSE 100 Index increased by 0.2%, while the pound remained steady around $1.276. Early results indicated […]
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. […]
Gold Price Near Two-Week High Amid Upbeat Market Mood
Gold Price Near Two-Week High Amid Upbeat Market Mood During the Asian session on Thursday, the gold price (XAU/USD) maintained a positive bias and remained just below the nearly two-week high reached the previous day. However, the strong bullish sentiment across global equity markets acted as a headwind for the safe-haven precious metal, particularly amid […]
Fed Sought More Inflation Data in June Minutes
Fed Sought More Inflation Data in June Minutes At their last policy meeting, Federal Reserve officials were divided on how long to maintain elevated interest rates and were awaiting more evidence that inflation is cooling. The minutes from the Federal Open Market Committee (FOMC) meeting, which ended on June 12, revealed that officials did not […]
EUR/JPY Rises Above 173.50, Focus on Eurozone PMI
EUR/JPY Rises Above 173.50, Focus on Eurozone PMI The EUR/JPY pair remains in positive territory for the sixth consecutive day, trading near 173.80 during the early European session on Wednesday. This sustained upward movement is primarily due to the weakening Japanese Yen (JPY), which has been impacted by recent data indicating a contraction in Japanese […]
Asian Shares Mixed After Wall Street Gains
Asian Shares Mixed After Wall Street Gains Asian stocks experienced mixed performance on Tuesday following gains on Wall Street and a surge in U.S. bond yields as election-related issues influenced global markets. U.S. futures declined, while oil prices increased. The Japanese yen fell to a near 38-year low, hitting 161.67 yen to the dollar early […]