Strong Initial Jobless Claims data triggers the USD, yet aggressive easing might limit the upside. Investors await further clues on the US economy. Markets continue to underestimate the Fed and are confident that it will rush to cut. The US Dollar … [Continue reading]
Gold price steadies on firm Fed rate-cut prospects
Gold’s price hovers near $2,400 as the US Dollar and bond yields correct. The Fed is expected to cut interest rates by more than 100 bps this year. Investors await the US weekly jobless claims data. Gold’s price (XAU/USD) slightly recovers from a … [Continue reading]
NZD/USD trims a part of modest intraday gains after softer NZ inflation expectations data
NZD/USD trades with positive bias for the third straight day, albeit lacks follow-through. A fall in New Zealand's (NZ) two-year inflation expectations caps the upside for the pair. Bets for bigger interest rate cuts by the Fed undermine the USD and … [Continue reading]
Ethereum’s decline could prove slingshot effect following ETF inflows, buy signal across technical indicators
Ethereum ETF investors continue their buying pressure with net inflows of $98.4 million. There's no $2 billion worth of ETH supply waiting to flood the market, claims EmberCN. Ethereum's recent drawdown could be a slingshot effect to new highs. … [Continue reading]
XRP breaks past $0.50 even as Ripple traders dumped holdings at nearly $40 million in losses
Ripple traders shed their holdings at nearly $40 million loss in the crypto market crash on Monday. XRP noted a decline in address activity as traders lost interest after mass sell-off. XRP sustained above $0.50 on August 7, nearly a 10% … [Continue reading]
US Dollar Price Forecast: USD extends recovery while markes continue betting on a dovish Fed
Despite market concerns, the US economy continues to grow above trend. The market anticipates 100 bps of Fed easing by year's end. Wednesday won’t have any economic highlights, market sentiment to dictate the pace. The US Dollar, measured by the DXY … [Continue reading]
EUR/CHF not to trend higher medium-term – Rabobank
The overnight fall in the value of the JPY briefly left the CHF as the best performing G10 currency over the past five sessions this morning. In our view, this is not an accolade that the SNB will have welcomed, Rabobank’s senior FX strategist Jane … [Continue reading]
Silver price today: Silver broadly unchanged, according to FXStreet data
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]