The Euro (EUR) is up a marginal 0.1% against the US Dollar (USD) and a mid-performer among the G10 as it consolidates in a tight range in the mid/lower-1.16s, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report. EUR is up … [Continue reading]
Australian Dollar remains weaker as US Dollar gains ahead of Fed Beige Book
Australian Dollar remains subdued despite stronger-than-expected Q2 GDP.China’s Caixin Services PMI rose to 53.0 in August, against the expected 52.5 reading.The CME FedWatch tool indicates that more than 91% of a 25-basis-point Fed rate cut is … [Continue reading]
Australian Dollar stays silent following stronger Q2 GDP, China’s Services PMI
Australian Dollar maintains its position despite GDP expanding 0.6% QoQ in Q2.China’s Caixin Services PMI rose to 53.0 in August, against the expected 52.5 reading.The CME FedWatch tool indicates that more than 91% of a 25-basis-point Fed rate cut is … [Continue reading]
Ethereum Price Forecast: The Ether Machine secures $650 million investment as ETH declines below key support
The Ether Machine announced that it has secured a 150,000 ETH investment worth about $654 million.The announcement follows SharpLink Gaming's statement that it purchased 39,008 ETH last week.ETH has declined below a key ascending trendline support … [Continue reading]
USD/JPY steadies above 148.00 as mixed US PMI data shifts focus to NFP
USD/JPY steadies above 148.00, easing slightly after hitting fresh one-month highs.ISM PMI showed manufacturing contraction persists, while S&P Global signaled the strongest improvement in two years.BoJ Deputy Governor Himino signaled gradual … [Continue reading]
Gold retreats from record $3,508 as US Dollar and yields rebound
Gold retreats after a record peak at $3,508 as the US Dollar and Treasury yields rebound.Safe-haven demand underpins downside as investors hedge against trade policy uncertainty, Fed independence concerns, and geopolitical tensions.Technical outlook … [Continue reading]
Gold surrenders intraday gains to record high as sharp USD bounce prompts profit-taking
Gold retreats from the all-time peak after struggling to find acceptance above the $3,500 psychological mark.A solid USD recovery turns out to be a key factor that prompts profit-taking around the safe-haven commodity.Traders now look forward to the … [Continue reading]
Silver Price Forecast: XAG/USD reaches 14-year highs above $40.50 amid safe-haven demand
Silver price marked $40.85, the highest since September 2011, on Tuesday.US July Personal Consumption Expenditures Price Index pointed to sustained inflationary pressures, adding to uncertainty around potential Fed rate cuts.Silver receives support … [Continue reading]
GBP/USD rises as risk appetite floats higher heading into tense week
GBP/USD climbed 0.3% on Monday, bolstered by a general uptick in market sentiment.Markets are tilted into the risk-on side ahead of a packed data docket.This week will culminate in key US NFP jobs data.GBP/USD found room on the high end on Monday, … [Continue reading]
Silver Price Forecast: XAG/USD consolidates above $40.50 after breakout to 14-year highs
Silver extends rally to fresh 14-year highs, breaking above the key $40.00 level last seen in September 2011.Fed rate cut bets, weak US Dollar, and safe-haven demand continue to fuel bullish momentumTechnical breakout confirmed above the July peak of … [Continue reading]