United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann report GBP/USD plunged to 1.3375 and closed at 1.3380, a move seen as excessive but still pointing to further downside. Intraday, they see scope for a test of 1.3350 while holding … [Continue reading]
Silver Price Forecast: XAG/USD rises to near $64.00 as oil prices decline
Silver price (XAG/USD) gains ground after posting losses the previous day, trading around $63.80 per troy ounce during the Asian hours on Thursday. The white metal finds support as oil prices retreated amid easing concerns over supply disruptions and … [Continue reading]
The Japanese Yen gives back more of its rally as the Fed raises rates
The Bank of Japan meets on Friday, and the market has a quarter-point hike to 1.25% priced at 100%. The Yen has been falling anyway. USD/JPY is up three sessions in a row, Wednesday's gain was the biggest of the three, and the pair is trading just … [Continue reading]
Federal Reserve set to raise interest rate as dot plot takes center stage
The United States (US) Federal Reserve (Fed) announces its interest rate decision on Wednesday, following another pivotal meeting that could provide key insights into the monetary policy outlook heading into the end of the year.Markets widely expect … [Continue reading]
US Dollar: Modestly bearish path under gridlock – TD Securities
TD Securities’ Jayati Bharadwaj expects a divided Congress to keep macro fundamentals as the main driver for FX, maintaining a modestly bearish view on the Dollar into year-end. The bank argues fiscal gridlock should narrow U.S.-RoW growth and rate … [Continue reading]
Swiss Franc: Watching break of 0.8205 against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann see USD/CHF consolidating just below major resistance at 0.8205 after trading between 0.8164 and 0.8198. They flag potential for a brief move above 0.8205, though a sustained break is uncertain, and maintain that … [Continue reading]
Crypto Overview: Bitcoin falls to $75,000 as CLARITY Act fails to advance – Pi Network, Injective lead losses
Bitcoin (BTC) price trades around $75,000 on Wednesday, following a 3% decline the previous day as the US Senate failed to advance the CLARITY Act to a cloture vote. The broader cryptocurrency market's risk-on sentiment eases, with over $600 million … [Continue reading]
Australian Dollar softens as risk-off mood meets FOMC countdown
The Aussie Dollar loses 0.11% against the Greenback on Tuesday as risk appetite remains negative amid calls from AI company CEOs to slow development, while the FOMC monetary policy meeting looms. Expectations for a Fed rate hike undermine the … [Continue reading]
NZD/USD Price Forecast: Bears break 0.5800 as Kiwi slide deepens
The New Zealand Dollar tumbles against the US Dollar for the second straight day this week, down 0.37% as risk appetite sours, with AI company CEOs expressing concerns about the rapid pace of evolution and as high energy prices push markets to expect … [Continue reading]
Gold finds support near one-month low ahead of Fed interest rate decision
Gold (XAU/USD) trims part of its intraday decline on Tuesday. However, a stronger US Dollar (USD), rising US Treasury yields and US Federal Reserve (Fed) interest rate hike expectations create a challenging backdrop for the non-yielding metal, … [Continue reading]