Share: Gold prices moves marginally lower, trading within $2,020-$2,024, reflecting cautious investor sentiment. US employment strength and PMI figures support the Fed's inclination to maintain current rate levels. Rising US Treasury yields … [Continue reading]
S&P 500 Index has further to go, with year-end target of 5,100 – Deutsche Bank
Share: Economists at Deutsche Bank expect the S&P 500 Index to extend its race higher over the course of the year. S&P 500 to 5,100 by Q4 2024 We set a 2024 S&P 500 year-end target of 5,100. All measures of earnings beats in the US … [Continue reading]
EUR/USD maintains position around 1.0850 after mixed Eurozone, German PMI, US PMI eyed
Share: EUR/USD rises even as Fed Minutes reflected concerns over premature interest-rate cuts. Eurozone, German PMI data for February suggest improving activity in the services sector, but manufacturing lags. The US Dollar loses ground despite … [Continue reading]
EUR/GBP rises to near 0.8570 after retracing recent losses, awaits PMI from UK, Eurozone
Share: EUR/GBP edges higher after BoE’s Dhingra advocated for rate cuts. Euro could experience pressure as a result of market caution stemming from diminishing expectations of reducing borrowing costs globally. Thursday brings PMI data from the … [Continue reading]
Australian Dollar gains ground on improved Aussie Services PMI, subdued US Dollar
Share: Australian Dollar continues its winning streak after the positive Services PMI on Thursday. Australia’s ASX 200 extends losses on weak sentiment due to expectations of prolonged higher borrowing costs. FOMC Minutes expressed caution … [Continue reading]
Gold price hovers around the 50-day SMA as traders eye flash PMIs
Share: Gold remains stable within the $2020-30 range following the Fed's latest monetary policy insights. US Treasury yields and the Dollar show minimal reaction to Fed's commitment to inflation targets. Market anticipates potential rate … [Continue reading]
USD/CAD churns on Wednesday ahead of Fed meeting Minutes
Share: USD/CAD tested a new high for the week but remains tepid. Canada’s New Housing Price Index declined slightly in January. Fed’s FOMC meeting Minutes to be the key release for Wednesday. USD/CAD briefly tested a fresh high for the week, but … [Continue reading]
Natural Gas jumps 8% with major supply side disruption ahead
Share: Natural Gas up over 8% intraday in European trading. Traders are sending Gas higher as the supply side is set to get shaken up. The US Dollar Index is back above 104 after its decline Tuesday and ahead of the Fed Minutes. … [Continue reading]
AUD/USD Outlook: Bulls have the upper hand near multi-week top, FOMC minutes awaited
Share: AUD/USD gains positive traction for the sixth straight day and moves closer to a multi-week top. The optimism over China and RBA's signal of more rate increases/no cuts soon benefit the Aussie. Bulls now look to the release of the … [Continue reading]
Gold Price Forecast: XAU/USD buyers retain control, with eyes on Fed Minutes
Share: Gold price sits at multi-day highs near $2,030 ahead of the Fed Minutes. US Dollar stays weak with the US Treasury bond yields, despite a tepid risk tone. Gold buyers flex muscles after recapturing 21-day SMA near $2,025. RSI flips … [Continue reading]