Federal Reserve (Fed) governor Stephen Miran spoke at a Fox Business interview on Friday, stating that monetary policy should be forward-looking and that wage gains have moderated.Key takeawaysThe Fed buying gold is not consistent with its … [Continue reading]
Gold plunges below $4,100 as hawkish Fed rhetoric trims December rate cut bets
Gold (XAU/USD) tumbles nearly 2% on Friday, yet it has recovered after reaching a daily low of $4,032 on growing speculation that the Federal Reserve (Fed) might pause its easing cycle as most officials struck a hawkish message.Bullion prices fell … [Continue reading]
XRP downside risks escalate amid muted retail interest
Ripple (XRP) edges lower, trading above $2.25 at the time of writing on Friday. The token's short-term outlook reflects a sticky risk-off sentiment in the broader cryptocurrency market. Low retail demand continues to weigh on the token, … [Continue reading]
USD/JPY rebounds toward nine-month highs as US Dollar steadies
USD/JPY trims early losses on Friday, with the pair rebounding toward nine-month highs as the US Dollar (USD) stabilizes. At the time of writing, USD/JPY is trading around 154.60, recovering from an intraday low near 153.62 and remains on track for … [Continue reading]
United States Baker Hughes US Oil Rig Count above expectations (415): Actual (417)
GBP/USD remains on the back foot on Friday, retreating to the 1.3140 region on the back of the marked upside impulse in the Greenback. In the meantime, worries about the UK’s fiscal discipline and political stability keep the British Pound under … [Continue reading]
US Dollar Weekly Forecast: Near-term top in the offing?
The week that wasThe US Dollar (USD) could not reverse the ongoing bearish tone this week, prompting the US Dollar Index (DXY) to retreat for the second week in a row. That said, the index further extended its rejection from recent multi-week highs … [Continue reading]
NZD/USD climbs on softer US Dollar, RBNZ easing limits Kiwi rebound
NZD/USD trades higher around 0.5680 on Friday, up 0.60% on the day at the time of writing. The pair benefits from a softer US Dollar (USD) as investors remain cautious ahead of the resumption of key US macroeconomic releases, which were delayed due … [Continue reading]
Gold Price Forecast: XAU/USD dips below $4,150 as the US Dollar picks up
Gold (XAU/USD) is heading lower on a choppy trading session on Friday, weighed by a firmer US Dollar amid the risk-averse sentiment. The Precious metal has broken below a previous resistance area, at $4,150 ahead of the US session opening, reaching … [Continue reading]
Spain Harmonized Index of Consumer Prices (MoM) in line with forecasts (0.5%) in October
Bitcoin, Ethereum and Ripple trade in red on Friday after correcting more than 5%, 10% and 2%, respectively, so far this week. BTC has slipped below the $100,000 key level, while ETH and XRP have faced rejection at their resistance levels, … [Continue reading]
China’s NBS: There is short-term pain when new growth drivers replace the old ones
Following the publication of the high-impact China’s activity data, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Friday.Key quotesThere is short-term pain when … [Continue reading]