Gold price is set to extend upside
Gold price (XAU/USD) looks set to rally further after a significant decline in the United States core Personal Consumption Expenditure price index (PCE) in November has boosted hopes of early rate cuts by the Federal Reserve (Fed). Market participants are pricing in the first rate cut by the Fed in March, and second in May […]
Silver price recovers swiftly
Silver price (XAG/USD) gathers strength for more upside as the United States Bureau of Economic Analysis (BEA) reported a softer-than-anticipated core Personal Consumption Expenditure (PCE) price index report for November. Monthly US core PCE data grew slightly by 0.1% while investors projected a growth rate of 0.2% as recorded for October. On an annualized basis, […]
Gold price picks strength after downbeat final Q3 GDP data
Gold price (XAU/USD) attempts to resume upside journey after the United States Bureau of Economic Analysis (BEA) reported in its final estimate report that the economy grew by 4.9% against estimates and the former reading of 5.2%. This has brought a sharp sell-off in the US Dollar, which has already been on the back foot […]
AUD/USD struggles for a direction as investors shift focus towards the US core PCE price index data
The AUD/USD pair trades sideways inside Tuesday’s trading range of 0.6700-0.6775 in the early New York session. The Aussie asset struggles for a direction as investors shift focus towards the United States core Personal Consumption Expenditure price index (PCE) data for November, which will be published on Friday. The S&P500 opens on a negative note […]
EUR/JPY aims a stabilization above 158.00
The EUR/JPY pair run swiftly above the crucial resistance of 158.00 in the European session. The strength in the cross is backed by absence of cues regarding an exit from the ultra-loose monetary policy stance in the last interest rate meeting of 2023 by the Bank of Japan (BoJ). The BoJ was widely anticipated to […]
The Dollar remains weak with the CAD supported by higher Oil prices
The Dollar remains depressed, with upside attempts limited below 1.3400. The Canadian Dollar is taking advantage of the recent recovery in Oil prices, with the market awaiting Canadian consumer inflation data, due on Tuesday. British Petroleum (BP) is halting an oil tanker from crossing the Red Sea following reports from the UK Navy of an […]
NZD/USD extends its gains amid the improved Kiwi Manufacturing Index
NZD/USD continues its winning streak for the fifth successive day on the downbeat US Dollar (USD). The NZD/USD pair trades around 0.6220 during the European hours on Friday. Investors are expected to closely monitor the S&P Global Purchasing Managers Index (PMI) data on Friday. Even positive economic data from the United States (US), including a […]
The Australian Dollar is steady at four-month highs above 0.6700
The Aussie Dollar is consolidating gains at multi-month highs, with downside attempts capped above previous lows at 0.6690. The Greenback remains sold with the US Dollar Index pushing against key support at 102.45, weighed by the unexpectedly dovish tone of Wednesday’s Fed monetary policy statement. Fed Chair Powell showed optimism about the colling inflation and […]
WTI Oil is off the lows for this Wednesday and heads back to $70
Oil prices are trying to avoid another meltdown as WTI crude tries to head back to $70 as OPEC issued its report where it sticks to a shortfall in the coming quarters. Meanwhile, bears gained a boost on Tuesday after US Consumer Price Index numbers revealed yet again very sticky inflation. This will urge the […]
GBP/USD trading at 1.2556, experiencing minimal change
The GBP/USD is virtually unchanged amid a volatile session that witnessed the pair traveling at around 90 plus pip range, directionless after a report of inflation in the United States (US). Initially boosted the Pound Sterling (GBP), but in the end, the Greenback (USD) was bolstered. The pair is trading at 1.2556, almost flat. The […]
