Gold Price Nears Weekly High Ahead of US NFP Report, Remains Below $2,525 Resistance
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Gold Price Nears Weekly High Ahead of US NFP Report, Remains Below $2,525 Resistance Gold price (XAU/USD) is trading near its weekly high for the third consecutive day on Friday, ahead of the European session. Despite this upward trend, investors remain cautious as they await the US Nonfarm Payrolls (NFP) report before making any significant […]
Nonfarm Payrolls Data to Test US Labor Market in August After July’s Slowdown
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Nonfarm Payrolls Data to Test US Labor Market in August After July’s Slowdown The US Bureau of Labor Statistics (BLS) will release the much-anticipated Nonfarm Payrolls (NFP) data for August on Friday at 12:30 GMT. This labor market data is crucial for assessing the US Federal Reserve’s (Fed) upcoming interest rate decisions, particularly regarding a […]
Silver Price Forecast: XAG/USD Holds Below $28.50 as Traders Eye US PMI Data
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Silver Price Forecast: XAG/USD Holds Below $28.50 as Traders Eye US PMI Data Silver (XAG/USD) is trading with a mild bearish bias around $28.25 early Thursday during the Asian session. A modest recovery in the US Dollar (USD) is weighing on silver prices. However, speculation that the US Federal Reserve (Fed) may implement a deeper […]
Australian Dollar Holds Losses Despite Hawkish RBA Bullock, ISM Manufacturing PMI in Focus
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Australian Dollar Holds Losses Despite Hawkish RBA Bullock, ISM Manufacturing PMI in Focus The Australian Dollar (AUD) remains under pressure against the US Dollar (USD) despite positive Trade Balance data released on Thursday. Australia’s trade surplus widened to 6,009 million AUD in July, surpassing both the expected 5,150 million and the prior figure of 5,589 […]
Gold Price Struggles to Gain Momentum as Traders Await New Catalysts
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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
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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
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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
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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
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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
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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
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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
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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 […]
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 […]
USD/CAD Rebounds Above 1.3450 as Risk Sentiment Worsens Ahead of Fedspeak
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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
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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
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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
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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. […]