Euro-Dollar edged higher to near the round-level resistance of 1.0800 in European trading on Friday, with the performance of the currency pair remaining weak in the past few days. EURUSD failed to discover significant buying interest, even though the Fed has leaned towards pivoting to policy normalisation in September. On Wednesday, the Federal Reserve kept … Read more
West Texas Intermediate (WTI) inched higher to near $76.50 per barrel in Friday’s Asian trading, with the price of crude oil finding support from supply risks arising from heightened geopolitical tensions in the Middle East, despite ongoing global demand concerns. Markets are closely watching Iran’s reaction to the assassination of Hamas leader Ismail Haniyeh. According … Read more
Silver (XAGUSD) fell sharply to near $28.70 in Thursday’s European trading after posting a fresh weekly high at $29.16. The white metal dropped as the US Dollar rebounds strongly, and the Caixin Manufacturing PMI surprisingly contracted in July. The DXY Dollar Index, which tracks the greenback’s value against six major currencies, jumped higher to near … Read more
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
The US jobs report highlights a super hot US economy, underscoring that there is a real risk that interest rates won’t be cut until 2025, the CEO of a leading financial advisory and fintech has warned. The U.S. economy added 272,000 non-farm jobs in May, much more than expected, while Wall Street had forecast an … 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
Gold traders and investors expected the European Central Bank to cut interest rates by 25 basis points for the first time since 2019 in its meeting on Thursday, making it the first reversal in the bank’s hawkish monetary policy in five years. The Euro and the equities markets in Europe had already priced a major chunk of … 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
USDJPY bulls are further encouraged by a weakening Japanese Yen following data that shows real wages declining for the 25th straight month in April, as domestic inflation in Japan continues to outpace wage growth. The data will make it harder for the Bank of Japan to normalise policy, as it hopes to lift the bank’s … 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.