Gold is back on the front foot Wednesday, reclaiming the key $4,200 level per ounce and reversing Tuesday’s pullback. Stronger risk appetite in equities is still a headwind for the safe-haven trade, but persistent softness in the Greenback is giving … [Continue reading]
Gold floats around $4,200 amid US Dollar slide and growing Fed-pivot bets
Gold price declines some 0.20% on Wednesday as US economic data, although mixed, reaffirmes traders’ expectations for a rate cut next week at the Fed's meeting. XAU/USD trades above $4,200 after bouncing off daily highss of $4,240.Bullion declines … [Continue reading]
JPY advances on narrowing yield spreads to 2022 Lows – Scotiabank
The Japanese Yen (JPY) is strengthening again, up 0.3% against the US Dollar (USD) as USD/JPY moves back toward Monday’s lows and threatens a broader retracement of its mid-November weakness, Scotiabank's Chief FX Strategists Shaun Osborne and Eric … [Continue reading]
EUR: November eurozone inflation meets expectations – Commerzbank
Eurozone inflation for November came in largely as expected, with headline at 2.2% y/y and core at 2.4%, leaving the ECB’s policy stance unchanged. With no market pressure for rate changes and core inflation above target, the Euro (EUR) remains … [Continue reading]
Australian Dollar continues scaling higher as hawkish RBA offsets softer Q3 GDP
The Australian Dollar (AUD) prolongs a two-week-old uptrend against a broadly weaker US Dollar (USD) and climbs to its highest level since late October during the Asian session on Wednesday. Diminishing odds for more policy easing by the Reserve Bank … [Continue reading]
NZD/USD gathers strength to near 0.5750 on upbeat Chinese PMI, Fed rate cut bets
The NZD/USD pair gathers strength near 0.5745 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) edges higher against the US Dollar (USD) after the Chinese economic data. Traders await the release of the US ADP Employment … [Continue reading]
Dow Jones Industrial Average grabs a cautious bullish candle on Tuesday
The Dow Jones Industrial Average (DJIA) faced a messy session on Tuesday, exploring early upside and challenging the 47,600 level before getting knocked back down once again and ending the day on a cautious high note. New-old players in the AI space … [Continue reading]
Gold Price Forecast: Further upside could challenge the all-time high
Gold’s rebound hit a bit of a ceiling around Monday’s highs above $4,260, and that paved the way for a pullback below $4,200 on turnaround Tuesday.The dip comes as the US Dollar makes a modest push higher and Treasury yields send mixed signals: … [Continue reading]
USD/CHF Price Forecast: Looking for direction around 0.8050
The US Dollar remains practically flat around 0.8050 on Tuesday after whipsawing between 0.8070 and 0.8000 over the previous two trading days. The immediate trend remains bearish, from 0.8100 highs, but the long wicks in the daily chart highlight an … [Continue reading]
Spain Unemployment Change came in at -18.8K, below expectations (-12.4K) in November
Gold reverses an Asian session dip to sub-$4,200 levels and trades with modest losses just below the highest level since October 20, touched the previous day. The growing acceptance that the US Federal Reserve will lower borrowing costs … [Continue reading]