USD/JPY drops slightly after intervention talk from Japan’s chief of FX, Masato Kanda. Recent weakness in the Yen should be attributed to speculation not fundamentals, Kanda said. The authorities may intervene to correct the situation, propping up the Yen.
Gold price (XAU/USD) drops to $2,150 in Tuesday’s European session as a strong US Dollar weighs heavily on the precious metal. The appeal for Gold remains subdued amid uncertainty ahead of the Federal Reserve’s monetary policy decision and the release of the quarterly dot plot on Wednesday. The Fed is widely expected to keep interest rates unchanged in the range...
GBP/USD is trading in a range above 1.2700, consolidating recent losses in early Europe on Monday. The US Dollar holds the upside, keeping the pair on the back foot, despite a risk-on market environment. All eyes remain on this week's Fed decision.
GBP/USD came under heavy bearish pressure on Thursday and lost more than 1% on a daily basis for the first time since October. The pair continues to push lower on Friday and was last seen losing more than 0.5% below 1.2600. The Bank of England maintained the bank rate at 5.25% as widely anticipated. The policy statement revealed that seven policymakers voted in...
Gold trades deep in negative territory below $2,170 on Friday as the persistent USD strength doesn't allow XAU/USD to benefit from declining bond yields. The pair still looks to post small weekly gains after having pulled away from the record high it set above $2,220 on Wednesday.
The NZD/USD pair surrenders its intraday gains and turns negative in the early New York session on Thursday. The Kiwi asset falls back as the US Dollar rebounds sharply from its five-day low of 0.6060. The US Dollar Index (DXY) rises strongly to 103.76 as the Federal Reserve (Fed) has revised United States Gross Domestic Product (GDP) forecasts higher for...
Gold made a sharp U-turn and dropped below $2,180 after setting a new all-time high above $2,220 earlier in the day. The benchmark 10-year US Treasury bond yield started to recover toward 4.3% after upbeat US data, causing XAU/USD to deepen its correction.
UK GDP data released today underwhelmed as the UK economy shrank by 0.3% for the month of October. Having avoided a contraction during the July-September period it appears the luck has finally run out. The July- September period largely coincided with the UK summer which could in part explain the GDP number posted. The increase in visitors and travel by UK...
Gold price (XAU/USD) attracts some dip-buying on Friday and reverses a major part of the previous day's slide back closer to the $2,150 level, or the weekly low. Despite the hotter-than-expected US Producer Price Index (PPI), the markets are still pricing in a greater chance that the Federal Reserve (Fed) will start cutting interest rates in June. This is...
Gold finds renewed space to maneuver, shrugging off some of its recent weakness and bouncing back past the $2,180 mark per troy ounce following the Fed's decision to keep its policy rates unchanged and the dovish tone from Chair Powell.
Bitcoin, the largest cryptocurrency by market capitalization, declined nearly 6%, dropping below the $65,000 level for the first time in nearly ten days. The asset’s price drop ushered massive liquidation in derivatives markets. Several altcoins and meme coins noted massive drawdowns in response to Bitcoin’s correction. The biggest declines were noted by Sei...
USD/CAD moves downward to near 1.3470 during the Asian session on Thursday, extending its losses for the second successive day. The Canadian Dollar (CAD) likely found support from rising Crude oil prices. West Texas Intermediate (WTI) crude oil prices edge higher, reaching close to $81.70 by the time of reporting. This increase may have bolstered the CAD, as the...
EUR/USD buyers took a break last week, leaving the weakened US Dollar some room to marginally advance. The EUR/USD pair was down from its Monday opening at 1.0938 and settled at around 1.0890.
USD/CAD continues its upward trend for the fourth consecutive session, trading near the significant level of 1.3540. The US Dollar advances, propelled by higher US Treasury yields. Bond markets are facing selling pressure as additional signs of resilience in the United States economy emerge, prompting traders to revise their expectations for fewer interest rate...
AUD/USD is extending losses toward 0.6500 in early Europe on Tuesday. The Aussie Dollar remains offered after the RBA held policy rate. Markets digest the less hawkish policy statement while Governor Bullock's words add to the Aussie's downside.
Gold price (XAU/USD) remains under some selling pressure for the third successive day on Monday – also marking the fourth day of a negative move in the previous five – and drops to over a one-week low. The precious metal maintains its offered tone below the $2,1,50 level through the early part of the European session amid expectations that the Federal Reserve...
GBP/JPY rallied and dipped before recovering to the midrange on Thursday, spinning in place near the 189.00 handle as Guppy traders look for movement from the Bank of Japan (BoJ). The BoJ is expected to lift interest rates out of negative rate territory after the Japanese central bank widely telegraphed earlier in the year that high wage increases from spring wage...
Gold price (XAU/USD) attracts some dip-buying on Friday and reverses a major part of the previous day's slide back closer to the $2,150 level, or the weekly low. Despite the hotter-than-expected US Producer Price Index (PPI), the markets are still pricing in a greater chance that the Federal Reserve (Fed) will start cutting interest rates in June. This is...