The US Dollar snaps below the first important support
The US Dollar (USD) is accelerating the trimming of its weekly gains, which got booked on Tuesday in the aftermath of the red-hot inflation report. Several analysts and economists were quick to write off the report as a one-off, with even US Federal Reserve member Austan Goolsbee saying that markets should not take into account […]
EUR/USD recovers from dip into 1.0700
EUR/USD found thin footing to stage a rebound from a decline into 1.0700, but the high side is looking far away as the pair remains challenged by bearish flows as the US Dollar (USD) finds broad-market support after US inflation figures on Wednesday spooked market sentiment. European Gross Domestic Product (GDP) figures met expectations, but […]
Pound Sterling jumps strongly on upbeat UK labor market data
The Pound Sterling (GBP) discovers a stellar buying interest in Tuesday’s early European session as the United Kingdom Office for National Statistics (ONS) has reported upbeat employment data for the three months ending December. The labor demand remains upbeat, and Average Earnings rose at a higher pace than the expectations of market participants. Hiring from […]
Pound Sterling drops as market mood turns downbeat
The Pound Sterling (GBP) drops vertically amid dismal market sentiment in Monday’s European session. The GBP/USD pair is expected to remain volatile as investors await the United Kingdom employment and the United States Consumer Price Index (CPI) data on Tuesday. UK Average Earnings will be in focus as Bank of England (BoE) Deputy Governor Sarah […]
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 […]
