Decentralized finance (DeFi) lending protocol Morpho announced Friday it raised $175 million in a funding round led by Paradigm, Andreessen Horowitz's crypto arm (a16z Crypto) and Ribbit Capital.The funding round also attracted participation from … [Continue reading]
Forecasting the upcoming week: US Dollar’s resilience faces Fed minutes and jobless claims
The upcoming week will bring a fresh test for major currency pairs as investors return from the US Independence Day holiday and continue to digest weaker US labor market data. The release of the last Federal Open Market Committee (FOMC) minutes and … [Continue reading]
Chinese Yuan: Range trade bias stays neutral against US Dollar – UOB
UOB’s Quek Ser Leang notes that USD/CNH has seen a slight pickup in downward momentum, but still expects the pair to remain range-bound. The bank now looks for a lower intraday band around 6.7820–6.7940, while its 1–3 week view stays neutral, with … [Continue reading]
NZD/USD Price Forecast: Rebounds above 0.5700, bears guard 0.5750
The Kiwi Dollar clears the 0.5700 figure on Friday, clings to gains of over 0.22% against the Greenback after hitting a daily low of 0.5689. At the time of writing, the NZD/USD trades at 0.5709.NZD/USD Price Forecast: Technical outlookThe NZD/USD … [Continue reading]
Singapore Dollar: Seen consolidating in range against US Dollar – Commerzbank
Commerzbank highlights that strong Singapore manufacturing and electronics PMIs underpin a constructive growth outlook, with Q2 GDP expected to exceed Q1’s 6% expansion. Against this backdrop, USD/SGD has eased slightly but remains near this year’s … [Continue reading]
Chinese Yuan: Bulls extend gains on PMI resilience – Societe Generale
Societe Generale notes that stronger-than-expected China PMI data suggest slow but steady growth, reducing urgency for the PBoC to ease policy. The bank highlights that USD/CNY has fallen back below its 50-day moving average as Yuan strength reflects … [Continue reading]
Japanese Yen holds steady amid US Independence Day holiday
The USD/JPY pair posts modest gains on Friday amid thin trading due to the US Independence Day holiday. The US Dollar (USD) stabilizes against the Japanese Yen (JPY) after a sharp decline on Thursday following softer-than-expected United States (US) … [Continue reading]
Silver Price Forecast: XAG reclaims $60 as RSI recovery targets $65 breakout
Silver (XAG/USD) prices reclaim the $60.00 mark for the second straight day on Friday, extending their weekly gains to over 5.50% and trading at $62.42 amid broader US Dollar weakness, pushing the white metal to an eight-day high of $62.89.XAG/USD … [Continue reading]
Gold price climbs as weak NFP cool Fed hike bets
Gold (XAU/USD) price rises by more than 1% on Friday as investors digest a softer-than-expected US jobs report, trimming hawkish bets despite higher inflation. At the time of writing, the XAU/USD pair trades at $4,174, after bouncing off daily lows … [Continue reading]
Euro: Slightly reduced upside as policy paths diverge – ABN AMRO
ABN AMRO’s Bill Diviney expects the US Dollar to weaken broadly but notes slightly less upside for EUR/USD after revising the bank’s ECB outlook and incorporating French and US election risks. With the ECB seen delivering one more hike and the Fed … [Continue reading]