Gold price continues to draw support from bets for a 50 bps Fed rate cut in September. Falling US bond yields and softer USD also act as a tailwind for the non-yielding metal. Bulls, however, seem reluctant and await the release of the US NFP … [Continue reading]
Ethereum’s underperformance could be reason for weak ETH ETF demand
Ethereum ETFs' high outflows signify low institutional interest amid declining ETH CME trading volume. Ethereum underperforms in terms of risk-adjusted returns compared to Nvidia, Bitcoin, Meta, Gold, NASDAQ-100 and others. ETH could follow a key … [Continue reading]
Gold Price Forecast: XAU/USD battles to regain the $2,500 mark
XAU/USD Current price: $2,496.69 Weaker-than-anticipated United States employment data boosted the mood. The US Treasury yield curve turned flat, signalling decreased recession fears. XAU/USD bounced from a fresh weekly low, bears still have a … [Continue reading]
EUR/GBP Price Analysis: Sell-off pauses and consolidates
EUR/GBP has slowed its decline and is consolidating after forming a temporary bottom. The trend remains bearish, however, there are signs the bear trend may be exhausted and about to reverse. EUR/GBP has paused its sell-off within a … [Continue reading]
Gold extends losses despite global market sell-off
Gold continues slowly falling despite risk sentiment turning negative following weak US manufacturing data. Overcrowded long positioning could be the reason the commodity is not rising as expected. Technically, Gold has broken below the … [Continue reading]
S&P Global: New Zealand’s current account deficit must narrow further
Martin Foo, Director at S&P Global Ratings warned in a Bloomberg interview on Wednesday that “New Zealand’s (NZ) current account deficit must narrow further.” Additional quotes “Broadly comfortable with New Zealand’s sovereign rating … [Continue reading]
Australia’s Judo Bank Services PMI rises to 52.5 in August vs. 52.2 expected
The final reading of Australia's Judo Bank Services Purchasing Managers Index (PMI) rose to 52.5 in August from 50.4 in the previous reading. This figure was above the market consensus of 52.2, the latest data published by Judo Bank and S&P … [Continue reading]
XRP breaks past key resistance, Ripple announces plans for Ethereum-compatible smart contracts
Ripple gears up for Ethereum-compatible smart contracts on the XRP Ledger, which should boost functionality. Ripple plans to use the Axelar network for cross-chain token transfers; wrapped XRP is the primary token on the sidechain. XRP crosses … [Continue reading]
USD/CAD Price Forecast: Jumps to near 1.3550
USD/CAD surges to near 1.3550 as the Canadian Dollar weakens ahead of the BoC policy meeting. The US Dollar surrenders its intraday gains with US NFP in focus. The US ISM Manufacturing PMI contracted again in August. The USD/CAD pair climbs to near … [Continue reading]
EUR/CHF: To crawl higher towards its crucial resistance – Société Generale
EUR/CHF has recently risen above 0.9350 and 0.94, Société Generale FX analysts note. Daily MACD is attempting across above its trigger line EUR/CHF has recently carved out a higher trough near 0.9350 than the one achieved in August at … [Continue reading]