The EURUSD currency pair weakened to near 1.0835 in Monday’s European trading, declining amid uncertainty ahead of the Eurozone preliminary Harmonized Index of Consumer Prices (HICP) for July and the Fed’s monetary policy announcement on Wednesday. The Eurozone inflation data will indicate whether market expectations for two more rate cuts by the European Central Bank this … Read more
EURUSD remains on the backfoot on Tuesday, slightly above 1.0700, as the major currency pair comes under pressure due to expected decline in the preliminary Eurozone HICP data for June. The annual Harmonised Index of Consumer Prices decelerated to 2.5%, as expected, year-on-year from May’s reading of 2.6%. In the same period, the core HICP, which … Read more
USDJPY spiked higher by over half a percent just after the release of US nonfarm payrolls (NFP) data, on Friday. USDJPY traded in the upper 156s after the US Dollar strengthened as a result of the better-than-expected results. Nonfarm payrolls showed the number of employed people in the US rose by 272,000 in May, when … Read more
Silver recovered further to $30.60 in Thursday’s Asian trading. The white metal discovers strong buying interest, as normalising US labour market conditions boost speculation that the Federal Reserve will start reducing interest rates in the September meeting. The CME FedWatch tool shows that traders see a 68% chance for rate cuts in September. The probability … Read more
Silver (XAG/USD) declined below .00 in Tuesday’s European session as the DXY Dollar Index rebounded. The speculation for the Fed reducing interest rates in September has strengthened due to signs of economic slowdown in the US.
The price of silver jumped to .80 after steady JOLTS job opening figures were reported by the United States Bureau of Labor Statistics.