Share: The NZD/JPY rose to 91.05 on Thursday, registering a 0.70% rally. The Yen was one of the worst-performing currencies due to dovish BoJ comments. On the four-hour chart, overbought conditions suggest a possible correction in the near term. … [Continue reading]
US Dollar trades higher, bolstered by positive Jobless Claims
Share: The DXY stabilized at 104.15 on Thursday after reaching a daily high of 104.40. Weekly Jobless Claims came in higher than expected in the week ended in February 3. Markets digest Fed official Barkin's words. The US Dollar (USD) … [Continue reading]
Fed’s Barkin: We have time to be patient on rate changes
Share: Federal Reserve (Fed) Bank of Richmond President Thomas Barkin told Bloomberg on Thursday that economic data has been remarkable across the board but noted that he is cautious about the accuracy of numbers at the turn of the year. Barkin … [Continue reading]
USD/JPY to decline toward 141.00 by the end of the year – Wells Fargo
Share: Economists at Wells Fargo expect a stronger Japanese Yen (JPY) versus the US Dollar (USD) through 2024. Japanese Yen to be an outperformer this year The Yen has been on the defensive early this year as soft Japanese data keep the Bank … [Continue reading]
Gold Price Forecast: XAU/USD needs acceptance above $2,050 to unleash the upside
Share: Gold price is stuck in a familiar range between $2,030 and $2,040 early Thursday. Risk-on rally in global stocks weighs on the US Dollar amid subdued US Treasury bond yields. The path of least resistance for Gold price appears to the … [Continue reading]
Gold Price Forecast: XAU/USD remains confined above $2,030 ahead of Chinese data
Share: Gold price oscillates in a narrow trading range around $2,035 on the softer USD. Four Fed officials emphasized that they don’t see an urgent case to cut rates and more evidence of inflation data is needed. The ongoing Middle East … [Continue reading]
Crude Oil continues thin recovery, WTI struggles to reclaim $74
Share: Crude Oil prices grind higher in thin markets. Price recovery hobbled by another supplies buildup. Geopolitical risks remain key driver for bullish price momentum. West Texas Intermediate (WTI) US Crude Oil is taking halting steps higher on … [Continue reading]
EUR/USD: It is about rates, more than growth – SocGen
Share: The Dollar ekes out modest gains from US exceptionalism. Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes FX market outlook. Correlation between FX and rate differentials remains strikingly strong Another week started … [Continue reading]
GBP/JPY retakes 187.00 mark, looks to build on momentum amid positive risk tone
Share: GBP/JPY gains positive traction and is supported by a combination of factors. A positive risk tone undermines the JPY and acts as a tailwind for spot prices. Bulls seem unaffected by the prospects of BoE rate interest rate cuts in 2024. The … [Continue reading]
Australian Dollar consolidates after trimming intraday gains amid a stable US Dollar
Share: Australian Dollar rises as US Dollar loses ground due to the downbeat US bond yields. Australia's currency strengthens on hawkish remarks from RBA’s Bullock. Fed’s Powell emphasized on closely monitoring inflation's movement toward the 2% … [Continue reading]