Gold drifts lower on Thursday as hawkish FOMC Minutes continue to underpin the USD.Hopes for a Russia-Ukraine peace deal further exerted pressure on the XAU/USD pair.The global PMIs could drive the commodity ahead of Fed Chair Powell’s speech on … [Continue reading]
Gold stalls Wednesday’s recovery from 100-day SMA support amid a firmer USD
Gold drifts lower on Thursday as hawkish FOMC Minutes underpin the US Dollar.Hopes for a Russia-Ukraine peace deal also exerted pressure on the XAU/USD pair.The global PMIs could influence the commodity ahead of Fed Chair Powell’s speech on … [Continue reading]
USD/MXN drops as Fed independence threats spur Peso demand
Mexican Peso appreciates 0.25%, as traders punish the Greenback on US political noise.Mexico inflation falls to 3.51% YoY, strengthening odds for a Banxico cut to 7.50% in September.Citi survey: Peso expected to stay strong, USD/MXN seen near 19.50 … [Continue reading]
Forex Today: It’s PMI-day!
The US Dollar (USD) ended another indecisive session trading near the top of its weekly range, as investors weighed the FOMC Minutes against fresh attacks from President Trump on the Federal Reserve, this time directed at Governor Lisa Cook.Here's … [Continue reading]
Canadian Dollar steadies as Fed Minutes and political tensions weigh on Greenback
The Canadian Dollar holds ground after USD/CAD hits a three-month high of 1.3883 in Asian trade.The US Dollar eases as Fed Minutes loom and political pressure builds on the central bank.US President Donald Trump calls for Fed Governor Lisa Cook’s … [Continue reading]
EUR/GBP Price Forecast: Testing key support at the 0.8600 area
The Euro accelerates its reversal with the Pound boosted on hotter UK inflation levels.A higher-than-expected UK CPI bolsters the case for a steady monetary policy over the next months.EUR/GBP: A break below 0.8595 would confirm a double top above … [Continue reading]
Japanese Yen clings to gains as hawkish BoJ expectations offset unimpressive data
The Japanese Yen attracts dip-buyers after an unimpressive domestic data-inspired downtick.The divergent BoJ-Fed expectations continue to act as a tailwind for the lower-yielding JPY.Sustained USD buying could lend support to the USD/JPY pair ahead … [Continue reading]
WTI drifts lower to near $62.00 on talks to end Russian invasion of Ukraine
WTI price tumbles to around $62.05 in Wednesday’s early Asian session.The White House said Russia-Ukraine meeting plans are ‘underway’ following Trump meetings.US crude inventories fell 2.4 million barrels last week, API said. West Texas … [Continue reading]
Ethereum Price Forecast: ETH plunges below $4,200 as investors brace for Powell’s speech
Ethereum investors are expecting increased volatility in the short term as Fed Chair Powell's speech at Jackson Hole approaches.A record high in validator queue exits and sustained ETH ETF outflows could also weigh on market sentiment.ETH tested the … [Continue reading]
Gold retreats from intraday high, trades heavy below $3,330
Gold edges lower on Tuesday, easing from an intraday high of $3,345 as increased risk appetite and a firmer US Dollar weigh on sentiment.A stable US Dollar and slightly lower Treasury yields are offering mixed signals for Gold, limiting strong … [Continue reading]