EUR/GBP edges higher to 0.8724
The EUR/GBP rallies for the fourth straight day in the mid-North American session, gains a minimal 0.08%, trading at 0.8724 after hitting a daily low of 0.8693. The cross-pair is upward biased once it reclaimed the 200-day moving average (DMA) at 0.8687. Nevertheless, the uptrend appears to have lost some steam, as the Average True […]
USD/CAD sets to recapture 1.3800 amid a risk-off mood
The USD/CAD pair extends a rally inch far from the round-level resistance of 1.3800 in the European session. The Loonie asset is expected to recapture the critical resistance of 1.3800, being supported by a strong recovery in the US Dollar due to a risk-off mood ahead of the speech from Federal Reserve (Fed) Chair Jerome […]
AUD/USD faces an intense sell-off above 0.6500
The AUD/USD pair fell sharply after facing intense selling pressure above the psychological resistance of 0.6500 in the early New York session. Bears gripped the Aussie asset tightly as the risk-on market mood faded away. The S&P500 opens on a negative note as investors turn anxious ahead of the speech from Federal Reserve (Fed) Chair […]
AUD/USD trades sideways near 0.6500
The AUD/USD pair juggles in a narrow range near the psychological hurdle of 0.6500 in the early New York session. The Aussie asset turns sideways as investors await the interest rate decision by the Reserve Bank of Australia (RBA), which will be announced on Tuesday. The S&P500 opens on a slightly bullish note amid an […]
Gold price capitalizes on softer-than-anticipated US labor market data
Gold price (XAU/USD) delivers a consolidation breakout as the United States Bureau of Labor Statistics (BLS) has reported that job growth slowed in October. The Nonfarm Payrolls (NFP) were lower at 150K than expectations of 180K and the 297K payroll additions in September, which were revised lower. Economists expected slower job growth in October as […]
EUR/GBP encounters resistance at 0.8730
Following the Bank of England meeting, the Pound gained momentum. The EUR/GBP pair trimmed its daily gains and moved lower towards the 0.8700 level. As expected, the Bank of England (BoE) decided to keep its bank rate unchanged at 5.25%. However, three members of the Monetary Policy Committee (Greene, Haskel, and Mann) voted in favor […]
WTI attempts recovery from $80.50
West Texas Intermediate (WTI), futures on NYMEX, find bets near $80.50 on expectations that the Federal Reserve (Fed) will keep interest rates unchanged in the range of 5.25-5.50%. The Fed is widely to keep policy steady due to a gradual decline in consumer inflation and higher US long-term bond yields, which are impacting business investment […]
Gold price looks for a direction as the focus shifts to Fed policy
Gold price (XAU/USD) struggles for direction as market participants eye the interest rate decision by the Federal Reserve (Fed) and further developments in the Israel-Palestine war. The near-term demand for the precious metal is bullish as Middle East tensions are seen escalating further. The Israeli military troops are gradually entering Gaza for the ground assault […]
Gold price falls back marginally from a five-month high
Gold price (XAU/USD) recovered toward a fresh five-month high after a moderate correction. The precious metal slips marginally as investors turn cautious on expectations that the Federal Reserve (Fed) will keep its doors open for further policy tightening and maintain the dialogue of ‘higher for longer interest rates’. The near-term outlook for bullion remains upbeat […]
USD/CAD sets to recapture annual high around 1.3870
The USD/CAD pair comes closer to an annual high of around 1.3870 as global oil prices retreat after facing stiff barricades above the crucial resistance of $85.00. The Lonnie asset gains almost 0.15%, at the time of writing, despite a sell-off in the US Dollar. The Loonie asset strengthened despite a sharp fall in the […]
