The week that wasThe US Dollar spent the week on the back foot, pulling back from last week’s highs and dragging the US Dollar Index (DXY) down toward the 97.50 area, still moving within the broader consolidation that’s been in place since early … [Continue reading]
EUR/USD holds modest bid amid US shutdown and mixed PMI readings
The Euro (EUR) trades with a modest bid against the US Dollar (USD) on Friday, with EUR/USD stuck in this week’s range of 1.1750-1.1700. At the time of writing, the pair is trading around 1.1745, up about 0.22% on the day, as traders weigh the latest … [Continue reading]
US Services PMI forecast to show sustained momentum in September
The Institute for Supply Management (ISM) is scheduled to release the September Services Purchasing Managers’ Index (PMI) this Friday. The report is a well-trusted measure of business performance in the sector, but it is usually published on the same … [Continue reading]
France Industrial Output (MoM) below expectations (0.3%) in August: Actual (-0.7%)
Gold is flatlining in a tight range above $3,850 early Friday, following its two-way business on Wednesday, on track to register the seventh consecutive weekly rise. The Artificial Intelligence (AI) frenzy-driven record highs on global stocks … [Continue reading]
Silver Price Forecast: XAG/USD edges lower to near $46.50 on profit-taking
The Silver price (XAG/USD) declines to near $46.65 during the Asian trading hours on Friday. The white metal retreats from an all-time high on some profit-taking. The potential downside for silver might be limited amid safe-haven flows, bolstered by … [Continue reading]
Ethereum Price Forecast: ETH tackles $4,500 resistance following rising whale demand
Ethereum price today: $4,480Ethereum whales have bought over 840,000 ETH in the past two weeks.The balance on accumulation addresses grew by a record 5.6 million ETH in September, despite the price decline in the month.ETH has broken above the 50-day … [Continue reading]
Gold Price Forecast: XAU/USD recovers after flirting with $3,820
XAU/USD Current price: $3,845.50Risk aversion kicked in during at the American opening, after the US misses data releases.Hawkish comments from Federal Reserve Lorie Logan temporarily supported the USD.XAU/USD could extend its bearish downward … [Continue reading]
How could federal government shutdown affect the US Dollar?
The United States’ (US) federal government officially shut down on Wednesday as lawmakers failed to pass funding by the deadline. Following a second round of voting, the Senate rejected House Republicans’ stopgap bill to restore funding. Why … [Continue reading]
Pound Sterling rises further against Greenback on weakening US job market
The Pound Sterling (GBP) ticks up to near 1.3500 against the US Dollar (USD) during the European trading session on Thursday. The GBP/USD pair edges higher as the US Dollar (USD) remains on the backfoot, with the United States (US) job market slowing … [Continue reading]
EUR/USD posts modest gains above 1.1700 as Supreme Court allows Fed’s Cook to stay in her post
EUR/USD trades with mild gains around 1.1735 in Thursday’s Asian session. Traders pondered the length of the US government shutdown and its effect on economic data releases.Fed Governor Cook to stay in her job until January. The … [Continue reading]