Gold (XAU/USD) struggles to gain any traction and remains confined in a narrow range near the weekly low through the early European session on Friday amid a bearish fundamental backdrop. The US Dollar (USD) pulls back slightly following a … [Continue reading]
United States Dollar Index approaches 101.80 as bond yields keep rallying
The US Dollar continues to outperform its peers as United States (US) Treasury Yields keep rallying due to firm expectations of more interest rate hikes by the Federal Reserve (Fed) in the near term.As of writing, the US Dollar Index (DXY), which … [Continue reading]
Japanese Yen keeps sliding as Tokyo repeats its warning and holds fire
Finance Minister Katayama said on Thursday that the principles behind the joint US-Japan intervention of July 31 are still alive, and USD/JPY went on to touch 159.00, its highest since early September. The pair is trading just under 159.00, on track … [Continue reading]
Australian Dollar Price Forecast: Bearish bias below 0.7000
The Australian Dollar (AUD) has remained on the defensive for the fourth consecutive day on Thursday, motivating AUD/USD to come under extra pressure and flirt with the key 0.7000 zone.Indeed, spot has suffered once again the persistent buying … [Continue reading]
Canada: Revised demographics reshape growth view – RBC
Royal Bank of Canada economist Rachel Battaglia explains that Statistics Canada’s upward revision to population data has erased earlier signs of negative growth and now shows Canada’s population rising 0.5% year-over-year in Q2. The changes soften … [Continue reading]
US Dollar: Higher yields support currency – MUFG
MUFG’s Derek Halpenny notes the US Dollar (USD) is strengthening as US fixed income sells off, driving global bond weakness and higher yields across the curve. A poor 5-year UST auction and strong US and global PMIs are reinforcing hawkish Federal … [Continue reading]
EUR/USD Price Forecast: Trades below 1.1400, near two-month low ahead of Trump-Xi summit
The EUR/USD pair drifts lower for the third straight day, hitting a fresh low since July 28 during the Asian session on Thursday, though it lacks follow-through. Spot prices currently trade around the 1.1380-1.1375 region, nearly unchanged for the … [Continue reading]
Australia unemployment rate forecast to remain steady at 4.5% in August
Australia will release the August monthly employment report on Thursday at 01:30 GMT. Ahead of the announcement, analysts expect the country to have added 20K new jobs in the month, while the Unemployment Rate is expected to remain steady at 4.5%. … [Continue reading]
USD/CHF Price Forecast: Bulls retake control, eye 0.8300 break
The USD/CHF pair climbs some 0.52% on Wednesday as the uptrend resumes following a retracement after hitting a yearly high on September 16 at 0.8263, which dragged the exchange rate below 0.8200, before recovering some ground. At the time of writing, … [Continue reading]
Three rate hikes, one warning: The inflation fight isn’t over
It is rare for the world's biggest central banks to move in the same direction.Yet within the space of just over a week, the European Central Bank (ECB), the Federal Reserve (Fed) and the Bank of Japan (BoJ) all raised interest rates, while the Bank … [Continue reading]