Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand. A positive risk tone further contributes to … [Continue reading]
PBoC sets USD/CNY reference rate at 7.1056 vs 7.1058 previous
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or … [Continue reading]
Canadian Dollar stumbles on Thursday after mixed US data flummoxes markets
Canadian Dollar trapped near familiar levels, gives mixed performance. Canada absent from the economic calendar until next week’s GDP. US GDP comes in soft, but PCE hints at still high inflation. The Canadian Dollar (CAD) spread on Thursday, giving … [Continue reading]
US Dollar finds footing with mild gains following GDP and labor market data
US Q1 GDP reveals reduced expansion at 1.6% YoY. On the positive side, weekly Jobless Claims come in strong. Friday’s PCE data from March will dictate the pace of DXY in the short term. The US Dollar Index (DXY) is seen trading mildly down at 105.75 … [Continue reading]
Oil edges up as US inventories decline to lowest level since January
Oil briefly spikes after US weekly EIA data showed a big decline in stockpiles. WTI Oil snaps $83, but faces resistance to break back above it again. The US Dollar Index retreats further, forming a bearish pattern. Oil prices edge … [Continue reading]
Gold price edges higher amid weaker USD and softer risk tone, focus remains on US GDP
Gold price edges higher amid a modest USD downtick, albeit lacks follow-through. A softer risk tone further lends support, though hawkish Fed expectations cap gains. Traders look to the US macro data before positioning for a firm near-term … [Continue reading]
Japanese Yen plummets to fresh 34-year low against USD, around mid-155.00s
The Japanese Yen continues losing ground amid the divergent BoJ-Fed policy expectations. The recent intervention warnings by Japanese authorities do little to provide any respite. Traders now look to the US Q1 GDP report for some impetus ahead of the … [Continue reading]
Ethereum suffers slight pullback, Hong Kong spot ETH ETFs to begin trading on April 30
Ethereum restaking protocol Renzo took a huge hit after its restaked ETH failed to maintain a 1:1 ratio with ETH. While Franklin and Grayscale have seen the SEC postpone its decision on their application, BlackRock amended its spot ETH ETF filing. … [Continue reading]
EUR/USD Forecast: Not out of the woods yet
EUR/USD faltered once again above the 1.0700 hurdle. The Dollar staged a decent rebound amidst higher yields. The focus now shifts to USD Q1 GDP and PCE. The bullish performance of the US Dollar (USD) sparked a mild knee-jerk in EUR/USD, which … [Continue reading]
EUR/USD Forecast: US data missed again, bad news that are good news?
EUR/USD Current price: 1.0682 The German IFO Survey surprised positively in April, all components improved. March US Durable Goods Orders missed expectations despite improving on a monthly basis. EUR/USD seems poised to resume its slide after a … [Continue reading]