The AUD/JPY pair declined to 96.45 on Friday resuming the losses after three sessions with gains. However, technical indicators suggest a shift towards neutral territory, with the RSI moving out of the oversold zone and the MACD showing decreasing … [Continue reading]
Gold ends the week firm as traders await US inflation data
Gold advances for the second day on Friday, buoyed by expectations of Fed easing in September. US economic data shows deceleration but not enough to stoke recession fears. Ongoing Middle East tensions between Israel, Lebanon and Iran keep Gold demand … [Continue reading]
EUR/USD churns after a week of directionless weight-shifting
EUR/USD wrapped up the trading week nearly where it started. Market balance has broadly recovered as wait to Fed cuts resumes. Coming up next week: EU GDP & US CPI inflation. EUR/USD finished off a sedate trading week close to where it began, … [Continue reading]
Ripple set to begin testing stablecoin launch after ending case with SEC
Ripple announced the private testing of its stablecoin RLUSD on XRP Ledger and Ethereum. RLUSD is awaiting regulatory approval before users can purchase and trade with it. XRP is down over 6% following the announcement. Ripple revealed on … [Continue reading]
NZD/JPY Price Analysis: Cross consolidates near 88.00
NZD/JPY moves sideways after a three-day winning streak, and mixed technical signals emerge. The RSI remains near the oversold area despite rising, and the MACD prints decreasing red bars. Shrinking volume suggests that the selling pressure is … [Continue reading]
GBP/USD trims losses but ends the week lower
GBP/USD chalked in a fourth consecutive down week. Despite early losses, Cable clawed back some ground late in the week. Coming up next week: UK and US CPI inflation updates. GBP/USD wrapped up a fourth straight week in the red, closing lower around … [Continue reading]
US Dollar mildly down ahead of the weekend
Stabilization in risk sentiment lends support to the USD despite lack of fresh fundamentals. Fed officials paint an optimistic picture of the US labor markets despite slow job growth. Market adjusts easing expectations; first rate cut expected in … [Continue reading]
NZD/USD Price Analysis: Consolidation takes place, 0.6000 remains crucial
NZD/USD bulls struggle above 0.6000, bears eye 0.5950. RSI neutralizes at 54, MACD flattens. The pair will tally a 0.80% weekly gain. In Friday's session, the NZD/USD pair declined mildly to 0.6010, marking the seventh consecutive day within a … [Continue reading]
CNY: What’s been driving a stronger renminbi? – MUFG
The main economic data release overnight was the latest CPI report from China for July, MUFG FX analyst Lee Hardman notes. USD/CNY rises back towards the 7.1800 level “The report revealed that headline inflation picked up modestly by 0.3 points to … [Continue reading]
USD/JPY trades sideways above 147.00 as global recession fears ebb
USD/JPY trades back and forth above 147.00 as investors look for fresh guidance on Fed’s rate-cut path. Market speculation for Fed rate cuts in September appears as imminent. The BoJ acknowledged the need to hike interest rates further this year. … [Continue reading]