Share: Following Monday’s Powell-driven sharp rebound in the US Dollar, the risk-linked galaxy managed to regain some balance as the sessions passed by, sparking a decent recovery in the likes of the single currency and the British Pound in an … [Continue reading]
Natural Gas in the eye of a US political storm
Share: Natural Gas hits another rock bottom level by hitting $1.85. Traders are sending Gas prices lower with pressure mounting on ending Biden’s Gas moratorium. The US Dollar Index eases and heads back to test 104 with a possible break towards the … [Continue reading]
Canada Jobs Report Preview: Anticipated Increase in Unemployment Rate
Share: The Unemployment Rate in Canada is expected to tick higher in January. A positive surprise could prompt the Bank of Canada to delay rate cut plans. Further cooling of the labour market could put the Canadian Dollar under … [Continue reading]
NZD/USD rises to near 0.6120 on ANZ prediction of RBNZ rate hike in February
Share: NZD/USD gains ground on the expectation of RBNZ to increase interest rates in February. ANZ anticipates the RBNZ to increase OCR by a 25-basis point in both February and April. Reuters poll anticipates that the PBOC will maintain the … [Continue reading]
NZD/JPY rallies to multi-month highs due to dovish BoJ
Share: The NZD/JPY rose to 91.05 on Thursday, registering a 0.70% rally. The Yen was one of the worst-performing currencies due to dovish BoJ comments. On the four-hour chart, overbought conditions suggest a possible correction in the near term. … [Continue reading]
US Dollar trades higher, bolstered by positive Jobless Claims
Share: The DXY stabilized at 104.15 on Thursday after reaching a daily high of 104.40. Weekly Jobless Claims came in higher than expected in the week ended in February 3. Markets digest Fed official Barkin's words. The US Dollar (USD) … [Continue reading]
Fed’s Barkin: We have time to be patient on rate changes
Share: Federal Reserve (Fed) Bank of Richmond President Thomas Barkin told Bloomberg on Thursday that economic data has been remarkable across the board but noted that he is cautious about the accuracy of numbers at the turn of the year. Barkin … [Continue reading]
USD/JPY to decline toward 141.00 by the end of the year – Wells Fargo
Share: Economists at Wells Fargo expect a stronger Japanese Yen (JPY) versus the US Dollar (USD) through 2024. Japanese Yen to be an outperformer this year The Yen has been on the defensive early this year as soft Japanese data keep the Bank … [Continue reading]
Gold Price Forecast: XAU/USD needs acceptance above $2,050 to unleash the upside
Share: Gold price is stuck in a familiar range between $2,030 and $2,040 early Thursday. Risk-on rally in global stocks weighs on the US Dollar amid subdued US Treasury bond yields. The path of least resistance for Gold price appears to the … [Continue reading]
Gold Price Forecast: XAU/USD remains confined above $2,030 ahead of Chinese data
Share: Gold price oscillates in a narrow trading range around $2,035 on the softer USD. Four Fed officials emphasized that they don’t see an urgent case to cut rates and more evidence of inflation data is needed. The ongoing Middle East … [Continue reading]