AUD/USD resumed its downtrend and revisited the area below 0.6550. The US Dollar traded in a vacillating fashion post-US PCE data. Retail Sales in Australia disappointed expectations in September. The selling pressure returned to the Aussie Dollar … [Continue reading]
How to trade NFP, one of the most volatile events
NFP is the acronym for Nonfarm Payrolls, arguably the most important economic data release in the world. The indicator, which provides a comprehensive snapshot of the health of the US labor market, is typically published on the first Friday of … [Continue reading]
USD/JPY Price Forecast: Post-BoJ slide could be seen as buying opportunity, US PCE data in focus
USD/JPY comes under heavy selling pressure in reaction to BoJ’s hawkish hints. The USD hangs near the weekly low and exerts additional pressure on the pair. Bets for smaller Fed rate cuts should limit losses ahead of the US PCE Price Index. The … [Continue reading]
Gold price holds steady near all-time peak, below $2,800 ahead of US PCE Price Index
Gold price continues to attract haven flows amid US political jitters and Middle East woes. A further rise in the US bond yields revives the USD demand and caps the precious metal. Traders now look to the release of the US PCE Price Index for some … [Continue reading]
EUR/USD holds above 1.0850 on weaker US Dollar, eyes on US PCE data
EUR/USD edges higher to around 1.0855 in Thursday’s early Asian session. Private sector employment increased by 233,000 jobs in October. The Eurozone HICP and the US PCE inflation data will be in the spotlight on Thursday. The … [Continue reading]
Ethereum Price Forecast: ETH could become deflationary again when blobspace gets saturated
Ethereum price today: $2,680 Ethereum could see its burn rate increase again if demand for L2s grows. Bitwise CIO says Ethereum rally is more likely than Bitcoin's if Donald Trump wins the US presidential election. Ethereum could test its yearly … [Continue reading]
US Dollar retreats after strong ADP, missing GDP
The US Dollar turned lower after Wall Street's opening, DXY holds above 104.00. US GDP grew below expectations in the third quarter but still at a pace consistent with a strong economy. The pair remains moving sideways with 104.55 resistance … [Continue reading]
Pound Sterling trades with caution ahead of UK Autumn budget statement
The Pound Sterling wobbles ahead of the UK budget announcement, in which the Labour administration is expected to raise taxes and boost spending. Investors expect the BoE to cut interest rates by 25 bps on November 7. Market participants await US … [Continue reading]
Ripple CTO says nothing on XRPLedger can move without XRP, altcoin gains 2%
XRP price climbs nearly 2% on the day, the altcoin is back above $0.5300. Ripple CTO David Schwartz addresses XRP holder’s concerns about the token’s utility on the blockchain. XRP could gain 13% and test the psychologically important … [Continue reading]
Breaking: Australia’s CPI inflation drops to 0.2% QoQ in Q3 vs. 0.3% expected
Australia’s Consumer Price Index (CPI) rose 0.2% QoQ in the third quarter (Q3) of 2024, compared with the 1.0% increase seen in the second quarter, according to the latest data published by the Australian Bureau of Statistics (ABS) on … [Continue reading]