Gold price attracts dip-buyers and draws support from a combination of supporting factors. The US political uncertainty and Middle East tensions underpin the safe-haven XAU/USD. The easing monetary policy environment offsets rising US bond … [Continue reading]
WTI flat lines below $70.00 mark; demand concerns continue to cap the upside
WTI lacks any firm intraday direction on Tuesday amid mixed fundamental cues. Concerns about slowing demand continue to act as a headwind for Oil prices. Middle East tensions warrant some caution before positioning for further losses. West Texas … [Continue reading]
Fed’s Daly: Rate cuts to resume, but policy rate remains dependent on inflation declines
Federal Reserve (Fed) Bank of San Francisco President Mary Daly noted late Monday that while she expects the Fed to continue slowly easing interest rates lower in the coming quarters, the Fed is still maintaining a data-dependent approach. Key … [Continue reading]
Mexican Peso dives amid US election fears, judicial reform concerns
Mexican Peso falls to a six-week low as former President Trump leads US election polls, threatening a 200% tariff on Mexican cars. Fears of a constitutional crisis in Mexico intensify after President Sheinbaum defies a court ruling to remove a … [Continue reading]
US Dollar starts week off calm, though resides near October’s high
The US Dollar trades mildly up as the possible escalation in the Middle East conflict drives flows towards the Greenback. Fed speakers are starting to align with market expectations for gradual to no rate cuts this year. The US Dollar … [Continue reading]
DXY: Rejected at 200-DMA – OCBC
The Dollar Index (DXY) drifted lower, tracking the decline in UST yields. DXY was last at 103.60 levels, OCBC’s FX analyst Frances Cheung and Christopher Wong note. DXY pullback is not ruled out “Softer housing data was the trigger. Elsewhere, Fed’s … [Continue reading]
USD/INR edges lower on softer US Dollar
The Indian Rupee strengthens in Monday’s Asian session. Substantial equity outflows could undermine the INR, but likely RBI intervention might cap its losses. Investors await Fedspeak on Monday for fresh impetus. The Indian Rupee … [Continue reading]
EUR/USD hovers near 1.0850, downside seems possible due to shift in policies outlook
EUR/USD may face challenges due to market perception changes regarding central banks’ policy outlooks. The US Dollar gained ground due to the fading likelihood of an aggressive rate cut by the Fed in November. The ECB may accelerate its pace of … [Continue reading]
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XRP rally likely as SEC appeal does not contest legal clarity of Ripple’s token
XRP traders around $0.55 on Friday, gains less than 1% on the day. SEC’s appeal in Ripple lawsuit is now publicly available and does not raise a question on the altcoin’s legal status. SEC vs. Ripple lawsuit’s July 2023 ruling provided … [Continue reading]