Silver prices (XAG/USD) broadly unchanged on Wednesday, according to FXStreet data. Silver trades at $26.97 per troy ounce, broadly unchanged 0.05% from the $26.99 it cost on Tuesday. Silver prices have increased by 13.35% since the beginning of the … [Continue reading]
EUR/USD extends its decline near 1.0900 on the recovery of US Dollar
EUR/USD trades in negative territory for the second consecutive day around 1.0915 in Wednesday’s Asian session. Traders expect a deeper Fed rate cut in September this year. The disappointing Eurozone June Retail Sales report exerts some … [Continue reading]
NZD/USD gathers strength above 0.5950 after better-than-expected New Zealand employment data
NZD/USD gains momentum around 0.5980 in Wednesday’s early Asian session, gaining 0.54% on the day. New Zealand’s Unemployment Rate ticked higher to the highest since March 2021, rising to 4.6% in Q2 vs. 4.3 prior. Fed’s Daly expects … [Continue reading]
Ethereum crash saw ETF and crypto-native investors buying the dip heavily
Ethereum ETF investors show strength, forcing net inflows despite the bearish turbulence. Ethereum exchange netflows witnessed an exodus of 152.4K ETH, suggesting investors bought the dip heavily after massive sell-off. Ethereum may have … [Continue reading]
NEAR protocol eyes for a rally based on positive on-chain data
Integrating BTSE DEX with Orderly-Chain highlights NEAR Protocol's expanding utility and adoption in the decentralized finance (DeFi) sector. On-chain data shows that NEAR's Total Swap Volume on Ethereum and BSC chains has surpassed $400 million. … [Continue reading]
Pound Sterling slumps to near 1.2700 on global risk-aversion
The Pound Sterling falls against the US Dollar to near 1.2700 amid weak appeal for risk-sensitive currencies. Investors worry that the US economy could enter a recession. The British currency will be guided by market speculation for BoE rate cuts. … [Continue reading]
FX option expiries for Aug 6 NY cut
FX option expiries for Aug 6 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - EUR/USD: EUR amounts 1.0700 800m 1.0815 1.7b 1.0820 459m 1.0830 900m 1.0885 628m 1.0895 499m 1.0935 786m - GBP/USD: … [Continue reading]
Australian Dollar appreciates as traders expect RBA to maintain current interest rates
The Australian Dollar advances ahead of Tuesday’s RBA policy decision. The RBA is expected to maintain the Official Cash Rate at 4.35% for the sixth consecutive meeting. The US Dollar declines as recent downbeat labor data fuels odds of a Fed … [Continue reading]
Mexican Peso plunges on US hard-landing concerns
Mexican Peso recovers from yearly low, trades at 19.49, still down over 1.70%. Safe-haven demand for Yen and Franc amid turmoil impacts emerging market currencies. Wall Street indices' losses heighten financial market stress, affecting USD/MXN … [Continue reading]
AUD/USD Forecast: Risks remain on the downside prior to the RBA
AUD/USD dropped to new 2024 lows around 0.6350. The broad-based sell-off in the risk complex hurt AUD and commodities. The RBA is widely expected to keep its interest rate at 4.35%. AUD/USD extended its retracement further and reached a new 2024 … [Continue reading]