Share: EUR/USD to finish the week above 1.0600 after hitting a weekly low of 1.0533. A risk-on impulse and falling UST bond yields are a headwind for the US Dollar. US ISM Non-Manufacturing data showed the US economy remains resilient. EUR/USD … [Continue reading]
AUD/USD consolidates at around 0.6740 for the week, with traders eyeing Fed speeches
Share: AUD/USD is set to finish the week with solid gains of 0.28%. The US ISM Services PMI was a tick lower than the previous month’s data, signaling the US economy is solid. AUD/USD traders eye Federal Reserve speeches throughout the day. The … [Continue reading]
Australia: RBA expected to hike rates next week – UOB
Share: Lee Sue Ann, Economist at UOB Group, sees the RBA raising the OCR by 25 bps at the March 7 meeting. Key Takeaways “The RBA has stated that its priority is to return inflation to target, and that further increases in interest rates will be … [Continue reading]
Crude Oil Futures: Rebound could run out of steam
Share: Considering advanced figures from CME Group for crude oil futures markets, open interest went up for the second session in a row on Thursday, now by just 234 contracts. On the other hand, volume dropped markedly by nearly 170K contracts after … [Continue reading]
WTI Price Analysis: Oil buyers poke multi-day-old resistance line, $78.30 is the key
Share: WTI crude oil price struggles around two-week high, eases from four-month-old resistance line of late. Recently firmer MACD signals, upbeat RSI (14) hints at the quote’s further upside, 100-DMA acts as additional resistance. WTI bears remain … [Continue reading]
GBP/JPY Price Analysis: Struggles at 164.00, back beneath 163.50
Share: GBP/JPY is about to finish the week almost flat. A multi-month downslope resistance trendline has held the GBP/JPY from re-testing YTD highs. GBP/JPY Price Analysis: Failure to crack 164.00 can pave the way for further downside. The GBP/JPY … [Continue reading]
Gold Price Forecast: Near-term buyers defend the $1,830 area
Share: XAU/USD Current price: $1,835.59 Signs of persistently high inflation maintain market players in cautious mode. Government bond yields keep reaching multi-year highs amid price pressure concerns. XAU/USD lost upward momentum, but buyers are … [Continue reading]
EUR/USD to drift higher later in the year – MUFG
Share: In February, the Euro weakened further versus the US Dollar moving from 1.0866 to 1.0612. Economists at MUFG Bank expect the world’s most popular currency pair to move back higher later in the year. ECB is set to be on hold for longer than … [Continue reading]
Gold Price Forecast: Bulls halt rally as US Treasury yields rise
Share: Gold price breaks out of descending parallel channel as market mood improves. US Dollar sell-off halted by rising US Treasury bond yields. ISM Services PMI release is still awaited for fresh impulse on XAU/USD. Gold … [Continue reading]
Gold Price Forecast: XAU/USD drops towards 200-SMA retest as yields underpin US Dollar rebound
Share: Gold price holds lower ground after reversing from one-week high, snaps three-day winning streak. US Treasury bond yields refresh multi-month highs amid inflation, rate hike fears. China-linked optimism fades ahead of G20; US data, Fed talks … [Continue reading]