The Australian Dollar spent this week as a passenger in someone else's trade. A hawkish Federal Open Market Committee (FOMC) and a surging US Dollar dragged the Aussie down to the 0.7000 handle, with the pair's sharp mid-week drop owing more to … [Continue reading]
Gold answers to the Fed, not the fear
Gold is supposed to be the asset you want when the world looks dangerous, which makes this week's price action quietly remarkable. Bullion ended the week down close to 1.5%, its sixth straight week of lower or flat closes, even as a Middle East war … [Continue reading]
The US Dollar remembers how to rally
The US Dollar Index (DXY) spent the back half of this week doing something most desks had written off six months ago: rallying on the prospect of a Federal Reserve (Fed) rate hike. The index pushed to a fresh 13-month high before easing back; the … [Continue reading]
Bitcoin’s weakening sell pressure hints at possible market bottom — CryptoQuant
Bitcoin (BTC) may be approaching the final stages of its current correction as selling pressure eases, according to a CryptoQuant report on Thursday.The report noted that the current phase of realized losses differs significantly from the first major … [Continue reading]
Forecasting the upcoming week: US Dollar loses momentum ahead of key US inflation data
The week ahead will bring a fresh test for major currency pairs as investors digest the first Federal Reserve (Fed) policy decision under Chair Kevin Warsh and look ahead to the United States (US) Personal Consumption Expenditures (PCE) data, global … [Continue reading]
USD/CAD Price Forecast: Uptrend intact as bulls eye 1.4200
The USD/CAD pair rises during the North American session, up 0.27% on Friday and over 1.34% for the week, with the pair remaining upward-biased and set to test higher prices seen last year. At the time of writing, the pair trades at 1.4175, after … [Continue reading]
British Pound rebounds as holiday-thinned trade slows USD bulls
The Pound Sterling recovers some ground after reaching a three-month low on Friday at 1.3163, sponsored by the Fed’s hawkish tilt, but edges up 0.18% amid thin trading conditions due to a holiday in the US. The GBP/USD trades at 1.3226, yet it is … [Continue reading]
Gold: Fed hawkishness and Dollar strength weigh on prices – UOB
UOB Global Economics & Markets Research highlights that Gold eased as hawkish Fed signals and a stronger US Dollar pressured the metal. An interim US–Iran ceasefire reduced inflation fears and contributed to softer Oil, further dampening Gold’s … [Continue reading]
ECB’s Wunsch says central bank may cut rates when the dynamics turn
European Central Bank (ECB) policymaker and the head of Belgium's central bank, Pierre Wunsch, said on Friday that the central bank may cut the interest rates when the dynamics turn.Key quotesECB may cut rates when the dynamics turn.If data is not … [Continue reading]
New Zealand Dollar drops to fresh low since April as hawkish Fed bets support USD
The NZD/USD pair turns lower for the third straight day following a modest Asian session uptick to the 0.5775 region and touches a fresh low since April 8 in the last hour. Spot prices currently trade just below mid-0.5700s and seem poised to … [Continue reading]