The Australian Dollar holds its position after Retail Sales reported no growth in July. Australia’s Retail Sales stagnated month-on-month in July, against the expected 0.3% increase. The US Dollar received support following stronger-than-expected US … [Continue reading]
Gold price rises on Fed rate cut hopes despite strong US data
Gold prices climb despite upbeat US Q2 GDP revision and drop in unemployment claims. Despite rising US Treasury yields (10-year at 3.86%) and DXY up 0.33% to 101.38, Gold's upward trend continues. Focus shifts to upcoming core PCE data, expected to … [Continue reading]
Ripple hovers around important support level as XRP traders take over $8 million in profits
Ripple traders take $8.36 million in profits on Thursday, Santiment data shows. XRP holds steady above $0.57 support, posting nearly 1% gains on the day. Ripple active addresses increased by nearly 30% since August 25, close to 20,000, at … [Continue reading]
US Dollar advances with stakes building up towards US data
The US Dollar trades on the back foot, weakening against most major peers, as traders focus on key US data. Markets cramped on Wednesday on the back of a miss in estimates for Nvidia earnings, benefiting the Dollar. The US Dollar Index popped … [Continue reading]
EUR/GBP weakens below 0.8450, traders await Eurozone inflation data for fresh impetus
EUR/GBP extends its downside around 0.8415 in Thursday’s early European session, losing 0.20% on the day. Rising expectation of additional rate cuts by the ECB weighs on the Euro. BoE’s Bailey 'cautiously optimistic' inflationary … [Continue reading]
Gold Price Forecast: $2,530 remains a tough nut to crack for XAU/USD buyers
Gold price rebounds early Thursday but within the recent familiar range. The US Dollar retreats with Treasury bond yields amid risk-aversion. Nvidia’s guidance and hawkish Fed commentary support risk-off flows. Technically, the path of least … [Continue reading]
GBP/USD backslides as bullish pressure wanes
GBP/USD slid back below 1.3200 on Wednesday. Recent bullish market flows are taking a breather. Rate-cut-hungry markets look ahead to Friday’s US PCE inflation. GBP/USD fell back below 1.3200 on Wednesday after near-term bullish momentum … [Continue reading]
Forex Today: Key data could unveil details on US economy and EMU inflation
The Greenback regained the smile on Wednesday and advanced to weekly tops vs. its main rivals as investors seek further clues regarding the potential Fed’s rate path ahead of key economic data releases. Here is what you need to know on Thursday, … [Continue reading]
AUD/USD Price Forecast: Uptrend proceeds to fresh highs for August
AUD/USD continues rising in line with the dominant uptrend. The RSI is showing bearish divergence with price, however, warning of a possible pull back. AUD/USD extends its rally and makes higher highs as it continues the uptrend it began … [Continue reading]
Pound Sterling corrects mildly as US core PCE inflation hogs limelight
The Pound Sterling drops to near 1.3230 against the US Dollar as the latter gains temporary ground. Economists expect annual core PCE inflation to accelerate to 2.7%. For fresh cues on the BoE interest rate path, investors await Catherine Mann’s … [Continue reading]