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]
EUR/USD recovers to 1.0760 amid USD weakness, German Industrial Production data looms
Share: EUR/USD posts modest gains around 1.0760 on the weaker USD. Eurozone Retail Sales were down 1.1% MoM in December, its sharpest fall in a year. Fed’s Harker said a soft landing for the US economy is in sight, citing declining inflation … [Continue reading]
Bitcoin price defends $42,000 support as US ETF market proves better alternative for Chinese investors
Bitcoin (BTC) price has failed to show any directional bias for almost two weeks now, trading horizontally. The odds still favor the upside, however, based on technical and fundamental drivers. Bitcoin, altcoins, stablecoins FAQs Bitcoin is the … [Continue reading]
Canadian Dollar grinds it out as markets chew on mixed data
Share: Canadian Dollar halts the slide but fails to recover ground. Canada’s PMI, Building Permits muddy the waters. BoC Governor Macklem due to speak in Montreal. The Canadian Dollar (CAD) managed to pump the brakes on a two-day backslide on … [Continue reading]
EUR/USD: Three reasons why the Dollar may strengthen against the Euro throughout 2024 – Crédit Agricole
Share: Economists at Crédit Agricole outline three key reasons for its bearish outlook on EUR/USD throughout 2024. Monetary policy divergence The ECB may engage in more aggressive rate cutting than the Fed in 2024, potentially positioning the euro … [Continue reading]
EUR/USD Forecast: Euro needs to clear 1.0800 to extend recovery
Share: EUR/USD recovered above 1.0750 in the early European session on Tuesday. The pair's bearish bias remains intact despite the rebound. Buyers could show interest in case Euro stabilizes above 1.0800. EUR/USD staged a technical correction and … [Continue reading]