GBP/USD up 0.10% amid central bank caution
The Pound Sterling (GBP) edges up moderately against the US Dollar (USD) in the mid-North American session but trades sideways unable to reclaim a key resistance level at the 50-day moving average (DMA). US and UK central bank speakers adopting a cautious stance and the lack of important economic data would likely keep the major […]
Gold price faces pressure
Gold price (XAU/USD) falls sharply in the late European session on Thursday as uncertainty over the timing of interest rate cuts by the Federal Reserve (Fed) deepens. In the monetary policy speeches this week, none of the Fed policymakers have provided any concrete timeline for rate cuts. The opportunity cost of holding Gold, a non-yielding […]
Crude Oil prices grind higher in thin markets
West Texas Intermediate (WTI) US Crude Oil is taking halting steps higher on Wednesday, trying to stake ground above $74.00 per barrel as another buildup in US barrel stocks keeps prices pinned on the low end. The Energy Information Administration (EIA) warned this week that the US could see a significant slowdown in its pace […]
Gold price consolidates after a two-day sell-off
Gold price (XAU/USD) struggles to find a direction in Tuesday’s European session amid a lack of data drivers as the economic calendar in the United States is light this week. The two-day sell-off in the precious metal has paused for a while as various Federal Reserve (Fed) are lined up to provide their outlook on […]
GBP/USD: Pound Sterling remains under pressure as the Fed’s hopes for an early rate cut wane
The Pound Sterling (GBP) continues to face the wrath of dismal market sentiment in the European session on Monday. The GBP/USD pair dropped sharply as resilient United States Nonfarm Payrolls (NFP) data on Friday have dented expectations of a rate cut from the Federal Reserve (Fed) at March’s monetary policy meeting. The solid US job […]
USD/CAD drops sharply to 1.3370
The USD/CAD pair has dropped to near Thursday’s low around 1.3367 in the European session on Friday. The Loonie asset faces selling pressure as the US Dollar Index (DXY) has dropped sharply ahead of the United States Nonfarm Payrolls (NFP) data for January, which will be published at 13:30 GMT. As per the estimates, US […]
EUR/USD recovers to 1.0817 following Fed’s steady rate decision
The EUR/USD trims some losses, though it remains virtually unchanged after the US Federal Reserve (Fed) decided to hold rates unchanged and shrugged off market bets to cut rates in March. Nevertheless, the US central bank is looking forward to easing policy. At the time of writing, the pair exchanges hands at 1.0817 after testing […]
The AUD/USD fell below 0.6600 following Powell’s presser
In Wednesday’s session, the AUD/USD fell towards 0.6560 after initially rising above 0.6600. The Federal Reserve (Fed) didn’t change its policy as expected but Jerome Powell considered that cutting in March wasn’t likely during its presser which made the US Dollar recover. In addition, Jerome Powell noted that the inflation data from the last six […]
AUD/USD drops below 0.6600
The AUD/USD pair has dropped below the round-level support of 0.6600 in the late European session. The Aussie asset faces a sell-off as the market mood has turned downbeat due to deepening Middle East tensions. S&P500 futures are facing decent losses in the early New York session, portraying a decline in the risk appetite of […]
The DXY Index is exhibiting firm gains
The US Dollar (USD) Index soared on Monday, trading at 103.75 with gains hitting highs unseen since mid-December. This surge comes ahead of what is anticipated to be an eventful week with the first Federal Reserve (Fed) decision of 2024 on Wednesday and key labor market figures from the US on Friday. In that sense, […]
