Share: Economists at the Bank of America expect to see a high USD/JPY pair due to carry-trade. Potential Correction in 2024 We expect the USD/JPY pair to remain high due to carry-trade, forecasting it to reach 147 by September. We align with the … [Continue reading]
USD/CAD sits near two-week high, around 1.3265-70 zone amid modest USD strength
Share: USD/CAD attracts some buyers for the third straight day and is supported by a stronger USD. The Fed’s hawkish outlook continues to act as a tailwind for the Greenback and the major. Tuesday’s softer Canadian CPI print undermines the CAD and … [Continue reading]
US Treasury Secretary Yellen: Hopes to travel to China, wants to reestablish contact, discuss disagreements
Share: "US will continue to take actions to protect national security interests with regards to china even if that imposes some economic cost," said US Treasury Secretary Janet Yellen. Source … [Continue reading]
AUD/USD Forecast: Downtrend persists, focus on 0.6600 support
Share: AUD/USD Current Price: 0.6610 Australia's monthly CPI slowed more than expected, weighing on RBA expectations for next week. The US Dollar strengthened on Fed rate hike expectations and a decline in Wall Street. The AUD/USD remains under … [Continue reading]
EUR/USD Price Analysis: Temporary contention emerges near 1.0880
Share: EUR/USD fades part of the recent optimism and retests 1.0920. Next on the downside comes the 55-day SMA around 1.0880. EUR/USD gives away some of the recent 2-day gains and slips back to the 1.0925/20 band on Wednesday. In case the selling … [Continue reading]
Gold Price Forecast: XAU/USD declines towards $1,900 as spotlight shifts to Fed Powell’s speech
Share: Gold price is declining towards the $1,900.00 support ahead of Fed Powell’s speech. Investors are cautious that hawkish remarks from Jerome Powell would propel fears of a recession in the US economy. Gold price has tumbled to near the … [Continue reading]
Asian Stock Market: Nikkei, ASX lead gainers, China shares dribble as S&P500 Futures, yields retreat
Share: Markets in Asia-Pacific region trade mixed amid cautious mood ahead of key central bankers’ speeches. ASX rallied on downbeat Aussie inflation, Nikkei braces for Japanese government’s intervention. China stocks remain pressured on AI curbs, … [Continue reading]
Azuki Elementals launch raises controversial $38 million worth of Ethereum in under 15 minutes
Share: Azuki Elementals launch marked the most engaging NFT drops in a long time, an outcome linked to 10,000 ETH profile pictures showcased in the sale. Despite the remarkable raise, the milestone is controversial, as creators have been flagged … [Continue reading]
GBP/USD Price Analysis: Bears are waiting to pounce below 1.2800
Share: GBP/USD bears are licking their lips around daily resistance. Bears eye a long squeeze for fresh lows of the week. GBP has been the market's darling this week so far as the initial balance extends higher and higher. However, as … [Continue reading]
Gold Price Forecast: Expectations of further rate hikes to dampen XAU/USD – Commerzbank
Share: Gold lacks direction following rebellion in Russia. Economists at Commerzbank analyze XAU/USD outlook. Yesterday’s rapid correction of the Gold price seems justified As far as the Gold price is concerned, the key question is the extent to … [Continue reading]