Share: USD/INR is confidently defending its immediate support of 81.70 despite a weak USD Index and a nosedive move in the oil price. A minor recovery in the S&P500 futures could be a dead cat bounce move as US equities were heavily beaten on … [Continue reading]
US Dollar Index: DXY stays depressed below 102.00 as mixed US employment signals prod Fed hawks
Share: US Dollar Index remains pressured after reversing from three-week high. Fears of easing US job market strength, limited scope for Fed hawks amid recession woes challenge DXY bulls. Banking sector fears, hopes of no policy pivot in 2023 put a … [Continue reading]
Silver Price Analysis: XAG/USD surges back above $25.00 on US Treasury yields fall
Share: XAG/USD bounced off the weekly lows below the 20-day EMA and reclaimed $25.00. A sour sentiment, and falling US T-bond yields, triggered flows to XAG. XAG/USD would remain upwards above $25.50; otherwise, sellers can drag prices to the … [Continue reading]
US Dollar retreats after US data, eyes on Fed policy decisions
Share: US Dollar starts the month of May on a firm footing, gathers strength against its major rivals. US Dollar Index climbed to its highest level in three weeks above 102.0. Federal Reserve's policy meeting could significantly influence the US … [Continue reading]
Silver Price Analysis: XAG/USD flirts with 23.6% Fibo., bears await break below $24.50-40 support
Share: Silver extends the overnight sharp fall and drifts lower for the second successive day on Tuesday. The mixed technical setup warrants caution before positioning for any further depreciating move. A sustained weakness below the $24.50-40 area … [Continue reading]
EUR/USD approaches 1.1000 as USD Index retreats ahead of Eurozone Inflation and ECB-Fed policy
Share: EUR/USD is marching towards 1.1000 after a recovery move as the USD Index has dropped after a short-lived recovery. Federal Reserve is widely anticipated to raise interest rates by 25bps to continue to maintain pressure on US CPI. … [Continue reading]
Gold Price Forecast: XAU/USD struggles below $2,000 amid US default fears, hawkish Fed bets
Share: Gold price remains sluggish ahead of the key United States data, events. First Republic Bank-induced relief contrasts with fears of US debt ceiling expiry to prod XAU/USD bulls. Mixed US PMIs, holidays in major markets offered softer start … [Continue reading]
Forex Today: US Dollar strengthens ahead of Fed
Share: What you need to know on Tuesday, May 2: Financial markets were quite volatile Monday, despite most major countries celebrating Labour Day, keeping local markets closed. The US Dollar edged higher against its rivals, initially extending … [Continue reading]
EUR/USD falls as ISM Manufacturing PMI improves, boosting USD on Fed tightening speculation
Share: EUR/USD dips as ISM Manufacturing PMI for April shows improvement but falls short of expansionary territory. IMF Chief Downplays de-dollarization concerns amid banking sector vulnerabilities. EU Inflation Figures and HCOB Manufacturing PMI … [Continue reading]
ISM Manufacturing PMI Preview: Improvement expected in April, still within contraction territory
Share: The ISM Manufacturing PMI is set to rise to 47.0 from 46.9, New Orders seen higher at 45.5. The ISM Prices Paid Index is seen expanding to 50.4 from 49.2 in the previous month. Purchasing Managers’ Index will be released by the ISM at 14:00 … [Continue reading]