Share: EUR/GBP edges higher after BoE’s Dhingra advocated for rate cuts. Euro could experience pressure as a result of market caution stemming from diminishing expectations of reducing borrowing costs globally. Thursday brings PMI data from the … [Continue reading]
Australian Dollar gains ground on improved Aussie Services PMI, subdued US Dollar
Share: Australian Dollar continues its winning streak after the positive Services PMI on Thursday. Australia’s ASX 200 extends losses on weak sentiment due to expectations of prolonged higher borrowing costs. FOMC Minutes expressed caution … [Continue reading]
Gold price hovers around the 50-day SMA as traders eye flash PMIs
Share: Gold remains stable within the $2020-30 range following the Fed's latest monetary policy insights. US Treasury yields and the Dollar show minimal reaction to Fed's commitment to inflation targets. Market anticipates potential rate … [Continue reading]
USD/CAD churns on Wednesday ahead of Fed meeting Minutes
Share: USD/CAD tested a new high for the week but remains tepid. Canada’s New Housing Price Index declined slightly in January. Fed’s FOMC meeting Minutes to be the key release for Wednesday. USD/CAD briefly tested a fresh high for the week, but … [Continue reading]
Natural Gas jumps 8% with major supply side disruption ahead
Share: Natural Gas up over 8% intraday in European trading. Traders are sending Gas higher as the supply side is set to get shaken up. The US Dollar Index is back above 104 after its decline Tuesday and ahead of the Fed Minutes. … [Continue reading]
AUD/USD Outlook: Bulls have the upper hand near multi-week top, FOMC minutes awaited
Share: AUD/USD gains positive traction for the sixth straight day and moves closer to a multi-week top. The optimism over China and RBA's signal of more rate increases/no cuts soon benefit the Aussie. Bulls now look to the release of the … [Continue reading]
Gold Price Forecast: XAU/USD buyers retain control, with eyes on Fed Minutes
Share: Gold price sits at multi-day highs near $2,030 ahead of the Fed Minutes. US Dollar stays weak with the US Treasury bond yields, despite a tepid risk tone. Gold buyers flex muscles after recapturing 21-day SMA near $2,025. RSI flips … [Continue reading]
NZD/USD snaps the five-day winning streak above 0.6160, FOMC Minutes eyed
Share: NZD/USD trades on a softer note near 0.6162 in Wednesday’s early Asian session. Investors have priced in four rate cuts in 2024, beginning in June. The New Zealand Producer Price Index (PPI) Output Q4 came in at 0.7% QoQ versus 0.8% … [Continue reading]
USD/CAD dips and rallies after Canadian CPI inflation recedes faster than expected
Share: USD/CAD saw early declines before getting bolstered by a weak Canadian CPI. Canadian CPI inflation fell to 2.9% from the previous 3.4% YoY. Wednesday’s FOMC Meeting Minutes in the barrel as investors focus on rates. USD/CAD fell to a daily … [Continue reading]
Breaking: Canada CPI inflation falls to 2.9% vs. 3.3% expected
Share: Inflation in Canada, as measured by the change in the Consumer Price Index (CPI), softened to 2.9% on a yearly basis in January from 3.4% in December, Statistics Canada reported on Tuesday. This reading came in below the market expectation of … [Continue reading]