Gold retains its positive bias for the third straight day and advances toward $4,750 on Thursday. Bulls seem hesitant however, and opt to wait for further clarity over a potential US-Iran peace deal before positioning for further gains. … [Continue reading]
CEE FX: Fiscal divergence and carry risk – BNY
BNY’s Geoff Yu highlights growing fiscal stress in Central and Eastern Europe (CEE) as a key driver for regional FX and carry trades. Romania faces acute fiscal and external imbalances, while Poland and Hungary show better current account and Foreign … [Continue reading]
EUR/JPY trades flat around 183.75 while investors remain on toes amid intervention hopes
The EUR/JPY pair trades in a tight range around 183.75 during the Asian trading session on Thursday. The pair struggles for a direction as investors remain on the sidelines amid hopes that Japan’s Ministry of Finance (MoF) could intervene … [Continue reading]
GBP/USD hesitates with NFP and UK construction PMI in focus
GBP/USD gained around 0.4% on Wednesday, settling close to 1.3595 after testing 1.3645 and failing to clear the 1.3600 handle on the close. The pair has hesitated at the upper end of recent congestion, with a cluster of upper wicks and small-bodied … [Continue reading]
Carry trade: Profit-taking risk builds into H2 – BNY
BNY’s Geoff Yu notes that the iFlow Carry index briefly turned negatively significant as investors sold nine of fifteen high-yield currencies, suggesting growing profit-taking after a resilient run. He stresses that central banks are now signaling … [Continue reading]
Canada Ivey Purchasing Managers Index s.a came in at 57.7, above forecasts (49.9) in April
Gold extends its intraday ascent and climbs to an over one-week high, re-attempting $4,700 on Wednesday. The US Dollar weakens across the board amid optimism over a potential US-Iran peace deal, helping the commodity to build on its recovery … [Continue reading]
ADP Employment Report set to highlight resilient hiring levels, easing labor market concerns
Developments in the Middle East conflict are likely to remain at the forefront this week, but investors will also keep an eye on a string of US labour market figures. One of the most relevant releases for April will be Wednesday’s Employment Change … [Continue reading]
WTI Price Forecast: Seems vulnerable near mid-97.00s; break below 38.2% Fibo. awaited
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some follow-through sellers for the second straight day and drops to a one-week low during the Asian session on Wednesday. The commodity currently trades near mid-$97.00s, … [Continue reading]
Ireland AIB Services PMI declined to 49.7 in April from previous 50.7
Ethereum is holding above $2,300 on Tuesday, up 0.8% on the day and more than 3% over the past week despite persistent bearish signals across key metrics. The onchain supply metric shows that retailers have been strong distributors in the past week, … [Continue reading]
Forex Today: DXY steadies as resilient US data keep FX markets on edge
Here is what you need to know for Wednesday, May 6:The US Dollar Index (DXY) is trading with a neutral tone near the 98.50 area, supported by safe-haven demand and elevated US yields even after upbeat US data. Price action remains choppy amid … [Continue reading]