Share: GBP/JPY meets with some supply on Wednesday, albeit lacks follow-through. Traders look to the UK CPI for some impetus ahead of the BoE on Thursday. Speculations about an imminent shift in the BoJ's dovish stance to cap gains. The GBP/JPY … [Continue reading]
AUD/JPY Price Analysis: Soars to 1 ½ month high; is 96.00 on the horizon?
Share: AUD/JPY rallies to 95.64, its highest level in one-and-a-half months, buoyed by RBA’s latest monetary policy minutes. Following resistance levels in sight: July 25 swing high at 95.85 and the psychological 96.00 mark. Downside risks remain, … [Continue reading]
AUD/USD Forecast: Short-term bullishness lacking conviction
Share: AUD/USD Current Price: 0.6458 RBA minutes reveal no surprises, and the market anticipates no changes at the next meeting. Attention turns to the FOMC, particularly on Powell's remarks and the staff's macroeconomic projections. AUD/USD … [Continue reading]
AUD should stand to benefit when China stabilisation comes into play – OCBC
Share: AUD drifted higher following tentative signs of improvement in China data. Economists at OCBC Bank discuss Aussie’s outlook. Room for gains Looking out, we still favour AUD to trade higher on of expectations that China growth could stabilise … [Continue reading]
Gold price capitalizes on strong bets over Fed steady interest rate policy
Share: Gold price extends winning spell as investors see the Fed keeping interest rates on hold. The Fed is expected to announce an unchanged interest rate decision amid falling inflation and upbeat economic prospects. Worries about an economic … [Continue reading]
Forex Today: Choppy action continues ahead of key events
Share: Here is what you need to know on Tuesday, September 19: Following Monday's indecisive action, markets remain choppy early Tuesday with investors refraining from taking large positions ahead of this week's all important central bank meetings. … [Continue reading]
XRP price at risk as NYDFS removes Ripple from approved-tokens list
Share: XRP, along with another 24 tokens, is no longer greenlit as approved tokens eligible for exchange listing. The New York Department of Financial Services updated its virtual currency oversight regime, approving only eight crypto assets. XRP … [Continue reading]
WTI crude oil nears $91 on OPEC+ cuts and demand uncertainty fueling price surge
Share: WTI trades at $90.48 per barrel, up 0.09%, amid Saudi Arabia and Russia’s 1.3 million barrel production cuts aimed at market stabilization. Citi Bank and Chevron’s CEO predict Brent crude could surpass the $100 per barrel mark, signaling … [Continue reading]
AUD/USD rebounds as investors eye Fed’s decision, as Chinese data boosts the Aussie
Share: AUD/USD trades at 0.6435, recovering from a daily low of 0.6416, as Chinese economic data boosts market sentiment. US Federal Reserve expected to hold rates steady, with a 99% chance of no change, as investors await ‘dot-plots’ for future … [Continue reading]
Upward momentum remains in place for USD ahead of FOMC meeting – MUFG
Share: The Dollar is continuing to trade close to recent highs after regaining upward momentum at the end of last week. Economists at MUFG Bank analyze Greenback’s outlook. The main downside risk for the USD would be if the Fed scraps plans for one … [Continue reading]