Spot Silver is surging late on Friday, tests 12-week high
XAG/USD tapped $24.30 in the back half of Friday’s trading, testing Silver’s highest bids in almost 12 weeks. Market sentiment is testing higher heading into the trading week’s close, and markets are set to see an early drop in trading volumes. Wall Street will be going dark a little bit early today, with US markets […]
USD/CAD weakens due to the likelihood of no more rate hikes by the Fed
USD/CAD continues to lose ground for the third consecutive session, bidding lower near 1.3680 during the Asian hours on Thursday. The USD/CAD pair encounters a hurdle as market participants are adjusting to the likelihood of no additional rate hikes by the Fed. which erodes the safe-haven allure of the US Dollar (USD). However, the Canadian […]
USD/CAD attracts fresh buyers on Wednesday
The USD/CAD pair regains positive traction on Wednesday and holds its neck above the 1.3700 round-figure mark through the first half of the European session. The Canadian Dollar (CAD) is undermined by softer domestic consumer inflation figures released on Tuesday, which now seem to have dashed hopes for any further rate hikes by the Bank […]
EUR/USD reaches fresh three-month highs around 1.0965
EUR/USD advances for the fourth consecutive session, hitting new peaks around 1.0965 on turnaround Tuesday. The continuation of the upward bias could see the psychological threshold of 1.1000 revisited prior to the August high of 1.1064 (August 10). So far, while above the significant 200-day SMA, today at 1.0806, the pair’s outlook should remain constructive.
EUR/JPY drops to multi-day lows in the sub-162.00 area
EUR/JPY extends the decline below the 162.00 support at the beginning of the week. Further downside appears well on the cards for the cross in the short-term horizon. That said, losses could then accelerate to the provisional 55-day SMA at 158.87 ahead of the interim 100-day SMA at 158.02. So far, the longer-term positive outlook […]
Gold price gains traction for the second straight day
Gold price (XAU/USD) scales higher for the second straight day – also marking the fourth day of a positive move in the previous five – and retests a nearly two-week high, around the $1.987-1,988 region during the first half of the European session. The incoming US macro data, including the softer US CPI and PPI […]
The XAU/USD escalated to a high of $1,987
The XAU/USD Gold spot price experienced an impressive upward spike on Thursday, rising toward $1,985 and seeing a daily gain of 1.35%. The metal’s momentum was driven by a decline in US Treasuries, which fell after the report of weak US data suggesting that markets are betting on lower odds of additional tightening by the […]
EUR/USD comes under pressure following new highs near 1.0900
EUR/USD surrenders part of the recent advance to three-month highs just below 1.0900 the figure on Wednesday. The continuation of the upward bias could see the weekly high of 1.0945 (August 30) revisited sooner rather than later. Once cleared, spot could challenge the psychological threshold of 1.1000. So far, while above the significant 200-day SMA, […]
Gold price trades back-and-forth
Gold price (XAU/USD) struggles to extend its recovery as investors remain anxious ahead of US inflation data for October, which will be published at 13:30 GMT. The precious metal consolidates with investors expected to wait until after the release before building fresh positions, as the inflation data will provide them with greater clarity about the […]
EUR/USD trades in an inconclusive fashion below 1.0700
EUR/USD trades in an inconclusive fashion below the 1.0700 mark at the beginning of the week. If bears regain the initiative, they could initially drag the pair to the interim 55-day SMA, today at 1.0639. The loss of this region could open the door to a probable visit to the weekly low of 1.0495 (October […]
