Gold retreats from record high as Powell cools cut bets, US Dollar strengthens
Gold (XAU/USD) price turns negatively on Wednesday after rallying for three consecutive trading days, which pushed the yellow metal to a record high at $3,791, before retreating somewhat as investors digest Federal Resever (Fed) Chair Jerome Powell’s comments, which seem to pour cold water on rate c
Forex Today: SNB rate call, US GDP, Japan Tokyo CPI inflation on deck
The US Dollar lurched higher on Wednesday, sparked by a fresh round of risk aversion across the broader markets. Central banks worldwide are grappling with two-speed economies of varying degrees, and many are battling a steepening slowdown in economic activity.
Dow Jones Industrial Average extends declines from record highs
The Dow Jones Industrial Average (DJIA) followed the broader market lower on Wednesday, shedding 270 points at its lowest. Investors are taking profits and trimming their exposure to the AI-fueled tech rally ahead of the latest US employment figures and inflation data.
The bullion’s unstoppable rise to new heights
Investors continue to relentlessly allocate capital into the safe haven commodity, fuelling its ascent to fresh record highs week after week, as a confluence of bullish catalysts supercharges their conviction. The precious metal has recorded an impressive 40% gain year to date, its strongest gain performance since 1979 and analysts have upwardly revised their end […]
Eurozone flashes signs of life
Euro traders rejoiced earlier today after manufacturing and services updates from the bloc showcased a possible end of the long-lasting tarnishing trend and signalled that brighter days may lie ahead. Services activity appears to be at the early stages of escaping long periods of stagnation or mild contraction and instead return to expansion, as the […]
Gold’s Weekly Update: Gold bulls renew their interest
Gold’s price was on the rise after the Fed cut rates and signaled that more easing of its monetary policy is in the pipeline. We are to have a look at the Fed’s decision and how the bank’s stance could affect gold’s price onwards, but also have a look at the negative correlation of the […]
PBOC maintains cautious stance despite weak domestic activity
The People’s Bank of China opted to stand pat for a fourth consecutive meeting and kept both of its loan prime rates intact near historical levels, in line with market expectations, avoiding additional stimulus injections albeit the persistent slacking of domestic consumption and loss of economic momentum. The 1-year loan prime rate, a proxy for […]
NZD/USD remains subdued near 0.5850 following PBOC rate decision
NZD/USD continues its losing streak for the fourth successive session, trading around 0.5860 during the Asian hours on Monday.
Silver Price Forecast: XAG/USD climbs beyond $43.00, highest since September 2011
Silver (XAG/USD) builds on Friday’s breakout momentum above the $43.00 mark and touches a fresh high since September 2011 at the start of a new week.
USD/CAD rises to near 1.3800 due to Fed’s cautious policy outlook
USD/CAD recovers its recent losses, trading around 1.3800 during the Asian hours on Monday.
WTI rises above $63.20 amid geopolitical risks
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.20 during the early Asian trading hours on Friday. The WTI rises amid escalating geopolitical tension in Europe and the Middle East.
BoJ surprises with ETF and REIT sale announcement
The Bank of Japan kept its policy rate intact at the 0.5% level at its September meeting, in line with broader market expectations, but surprised the markets by announcing that it will begin unwinding its ETF and REIT holdings portfolio, in a step to further normalize its monetary policy practices. Albeit keeping rates at their […]
Crude oil flatlines near the $64 per barrel area as potency of catalysts dry out
Technical Analysis of Oil WTI Chart – Crude temporarily bottoms above the $61 per barrel area possible charge of the $65 area at bay Buying and selling pressures neutralized each other this week and crude futures are currently gyratingaround the $64 per barrel area, striving to keep the distance from the $61.50 (S1) base area […]
Bank of England up next for a decision
After markets digested the Federal Reserve’s rate decision, the speech of Fed Chair Powel and the renewed projections of the FOMC committee for the foreseeable future, now attention is expected to shift, cross the Atlantic and fixate upon the respective policy decision from the Bank of England. BoE has slashed rates multiple times this year, […]
WTI edges lower below $63.50 on concerns over oil demand
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.40 during the early European trading hours on Thursday. The WTI declines amid concerns over the US economy and excess supplies.
Forex Today: Eyes on the BoE verdict after Fed’s cautious cut
Here is what you need to know on Thursday, September 18:
Crude Oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Thursday, early in the European session. WTI trades at $63.38 per barrel, down from Wednesday’s close at $63.63.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $67.28 after its previous daily close at $67.53.
Japanese Yen sticks to negative bias; looks to BoJ policy update for fresh impetus
The Japanese Yen (JPY) drifts lower for the second straight day on Thursday and retreats further from its highest level since July 7, touched against a broadly firmer US Dollar (USD) the previous day.
All about the Fed
Without a shadow of a doubt, the main attraction of today’s session is the Federal Reserve’s rate decision for the September meeting and albeit money markets almost fully pricing in a 25bps cut, a small minority bets that a jumbo 50bps cut could also be on the table. Even though inflationary pressures remain above the […]
Strength of US consumer gets an update
The highlight for investors during today’s session is the US retail sales update which will showcase how consumer spending trends evolved in the month of August. So far retail spending activity has been robust, albeit a few short-lived hiccups, indicating that despite the Fed’s tightening efforts to constrict inflationary pressures, the US consumer remains resilient […]