EUR/USD Surges as Disappointing US NFP Sparks Recession Fears
The EUR/USD pair rallied on Friday after the release of weaker-than-expected US Nonfarm Payroll (NFP) data, which fueled concerns about a potential economic slowdown in the US. The market’s risk-off sentiment led to a broad decline in equities and a flight to safe-haven assets, causing the US Dollar to tumble across the board. Key Data […]
Gold Price Retreats on Recession Fears Following ISM Report
Gold price (XAU/USD) experiences a slight decline during the North American session, settling around $2,438 after reaching a daily high of $2,462. This dip is attributed to a stronger US Dollar, fueled by heightened recession fears in the wake of a disappointing ISM report. Market Sentiment: The financial markets reacted negatively to the Institute for […]
EUR/JPY Plunges Below 163.00 on Hawkish Bank of Japan Move
EUR/JPY experienced a sharp decline on Wednesday, hitting its weakest point since mid-April at 162.20. This significant drop is attributed to the Bank of Japan’s (BoJ) unexpected decision to raise its policy rate by 15 basis points (bps) to 0.15%-0.25% and announce a tapering of Japanese government bond (JGB) purchases. Bank of Japan’s Hawkish […]
Gold Price Rebounds as Geopolitical Concerns Ease, Market Awaits Fed Decision
Gold price (XAU/USD) is recovering from a recent pullback, gaining momentum during Tuesday’s Asian and European sessions. The precious metal has found support around $2,390 after a slight dip on Monday. XAU/USD Market Sentiment: Easing geopolitical tensions in the Middle East have contributed to the gold price rebound, as Israeli authorities have indicated a […]
US Dollar Advances as Market Awaits Fed’s Policy Decision and Labor Data
The US Dollar Index (DXY) strengthened on Monday despite lingering uncertainties surrounding the Federal Reserve’s (Fed) September rate cut decision. While signs of disinflation are evident, the overall robust performance of the US economy, reflected in recent Q2 GDP and July S&P Global PMIs data, might encourage the Fed to adopt a cautious approach towards […]
Pound Sterling Holds Steady Despite US Core PCE Inflation Surprise
The Pound Sterling (GBP) maintains its position above a two-week low of 1.2845 against the US Dollar (USD) in Friday’s American session. This stability comes despite the release of hotter-than-expected US core Personal Consumption Expenditures (PCE) price index data for June. Market Reaction: The core PCE inflation, a key indicator for the Federal Reserve (Fed), […]
AUD/USD Plummets Towards 0.6500 Amid China’s Economic Concerns
The AUD/USD pair continues its downward trajectory, now heading towards the 0.6500 support level. This decline marks the ninth consecutive trading session of losses for the Australian Dollar (AUD). The primary driver behind this weakness is the growing apprehension surrounding China’s economic outlook and its potential impact on Australia. Several factors have contributed to the […]
Canadian Dollar Dips After BoC Rate Cut, Growth Forecasts Lowered
The Canadian Dollar (CAD) briefly touched a 14-week low against the US Dollar (USD) after the Bank of Canada (BoC) cut interest rates by 25 basis points, as widely anticipated. However, the CAD was further weakened by significant downward revisions to the BoC’s Canadian GDP growth forecasts, leading to the USD/CAD pair potentially recording a […]
Mexican Peso Plummets as USD/MXN Surges Past 18.00 on Judiciary Reform Concerns
The Mexican Peso experienced a sharp decline during Tuesday’s North American session, falling over 1.00% against the US Dollar, which registered modest gains amid declining US Treasury bond yields. Market participants are keenly awaiting Mexico’s mid-month inflation figures, due on Wednesday, alongside US GDP and inflation data, as these could significantly impact the Mexican currency’s […]
Gold Price Extends Decline Amidst Rising US Yields and Political Developments
Gold prices have continued their downward trend for the fourth consecutive day, hovering around $2,400. This decline is primarily attributed to rising US Treasury bond yields and the strengthening US Dollar following news of President Biden’s withdrawal from the presidential race and endorsement of Vice President Kamala Harris. Market sentiment has been influenced by the […]
