The AUD/USD pair trades near 0.7020 on Wednesday, as the Australian Dollar (AUD) continues to lose value after the latest United States (US) inflation report was released mostly in line with expectations, reinforcing the view that the Federal Reserve … [Continue reading]
United States MBA Mortgage Applications rose from previous -2.5% to 10.8% in June 5
Cardano edges lower to $0.1600 signaling a potential extension of the 30% loss from last week. The altcoin remains under intense selling pressure, weighing on its retail support. Still, a spike in dormant supply re-entering circulation signals that … [Continue reading]
Oil: Upside risks build as supply tightens – ING
ING analysts Warren Patterson and Ewa Manthey note that WTI and Brent fell sharply but see upside for Oil prices as US–Iran tensions persist and no peace deal is in sight. They highlight tightening global and US Oil markets, falling inventories, and … [Continue reading]
British Pound consolidates below 1.3400 vs USD amid fresh Iran tensions, ahead of US CPI
The GBP/USD pair struggles to capitalize on its recovery gains recorded over the past two days, from a three-week low, and oscillates in a narrow band during the Asian session on Wednesday. Spot prices currently trade around the 1.3365-1.3370 area, … [Continue reading]
United States API Weekly Crude Oil Stock came in at -9.119M, below expectations (-3.4M) in June 5
AUD/USD fades Monday’s optimism and trades with decent losses in the low 0.7000s ahead of the opening bell in Asia. Indeed, spot fails to capitalise on the offered stance of the Greenback and the relatively easing tensions in the Middle East on … [Continue reading]
18 consecutive months and running: China’s central bank extends Gold-buying spree
China’s central bank, one of the major Gold purchasers worldwide, continued to add the precious metal to its vaults in April, in a sign that demand from sovereigns remains high.The People’s Bank of China (PBoC) bought 8 tonnes of Gold in April, the … [Continue reading]
United States Goods Trade Balance dipped from previous $-82.4B to $-83.7B in April
The Australian Dollar posts moderate gains against the US Dollar on Tuesday, regaining some of the ground lost last week, although it remains at its lowest level in nearly two months. News that Israel and Iran halted hostilities has triggered a mild … [Continue reading]
Dow Jones futures ease as market mood remains cautious
Dow Jones futures inch lower 0.02%, trading above 50,850 during the European hours on Tuesday, ahead of the US regular opening. However, S&P 500 futures gain 0.21% to near 7,430 and Nasdaq 100 futures rise 0.51%, trading near 29,600 at the time … [Continue reading]
Gold Price Forecast: XAU/USD rebounds but not out of the woods yet
Gold is trying hard to build on the previous rebound from three-month lows of $4,269, holding above the $4,300 level in Asia on Tuesday.Gold awaits US CPI inflation data for a fresh directionGold is seeing a dead cat bounce as the US Dollar … [Continue reading]
South Korea Gross Domestic Product Growth (QoQ) registered at 1.8% above expectations (1.7%) in 1Q
The Australian Dollar spent Monday trying to talk itself into a recovery, and the tape was not buying it. AUD/USD has ridden a China-and-commodities narrative for months, one that conveniently glossed over how shaky both legs of that trade … [Continue reading]