AUD/USD Current Price: 0.6293 The Reserve Bank of Australia is still concerned about too high inflation. US Dollar demand was subdued amid higher equities and stable yields. AUD/USD fails to extend gains beyond a Fibonacci resistance at … [Continue reading]
Gold Price Forecast: Do not look at XAU/USD as a safe-haven – TDS
Aggressive Federal Reserve rate hike bets as inflation expectations remain high are set to weigh on gold, strategists at TD Securities report. Investors unlikely to grow their appetite for gold “A flat and inverted yield curve has historically … [Continue reading]
GBP/USD: 1.15 is not realistic without a further round of dollar selling – SocGen
GBP/USD was able to return above 1.14. However, the pair is on the back foot again. Economists at Société Générale believe that cable is unlikely to surpass the 1.15 level. Break above 1.1495/1.1550 is essential for extension in bounce “Cable is in … [Continue reading]
New Zealand: OCR now expected to peak at 5% – Westpac
With inflation continuing to run hot, economists at Westpac have revised up their forecast for the Official Cash Rate. They now expect the cash rate to peak at 5%. Inflation refuses to die, activity holding firm “We now expect the OCR to reach a peak … [Continue reading]
GBP/USD Price Analysis: Tests the upside break of triangle near 1.1350
An explosion of a neutral triangle results in wider ticks and heavy volume. A bull cross, represented by 20-and 50-EMAs, indicates more upside ahead. For a confident upside, the RSI (14) is needed to sustain in the bullish range of 60.00-80.00. The … [Continue reading]
When is New Zealand CPI and how might it affect NZD/USD?
We have Statistics New Zealand that will be releasing the third quarter Consumer Price Index inflation data this morning in Asia. There’s a lot of room for the headline CPI number to surprise on the upside or the … [Continue reading]
UK’s Jeremy Hunt: There remain many difficult decisions to be announced
British Finance Minister Jeremy Hunt is speaking to the House of Commons following the Leader of the House Penny Mordaunt. Earlier on Monday, Hunt announced the UK government will reverse almost all tax measures announced on the mini-budget. Speaking … [Continue reading]
UK PM Truss: We have taken action to chart a new course for growth
Following new Chancellor Jeremy Hunt’s fiscal U-turn, UK Prime Minister Liz Truss said that ”we have taken action to chart a new course for growth that supports and delivers for people across the United Kingdom.” She noted, “the British people … [Continue reading]
USD/CAD to keep moving up closer to 1.40 – MUFG
The Canadian dollar remains the second-best performing G10 currency year-to-date although it has traded on a weaker footing over the past month. Economists at MUFG Bank expect the USD/CAD to hover around the 1.40 level. Fed remains on course to … [Continue reading]
EUR/USD Price Analysis: Approaches 0.9790 resistance confluence
EUR/USD picks up bids to reverse previous pullback form 100-EMA. 38.2% Fibonacci retracement level adds strength to the upside filter. Three-week-old horizontal support zone restricts immediate downside. EUR/USD remains mildly bid around 0.9750 as … [Continue reading]