AUD/USD rebounds from 0.6270 to 0.6316
AUD/USD turned green in the day trades with gains of 0.17% after hitting a daily low of 0.6270, but upbeat growth data from the United States (US) bolstered the Greenback (USD), a headwind for the Aussie (AUD). Nevertheless, the Aussie’s (AUD) remained strong as the pair exchanged hands at 0.6316. The US Bureau of Economic […]
Gold price holds onto recovery
Gold price (XAU/USD) clings to gains around $1,970 on Wednesday, prompted by a decline in long-term US bond yields. The precious metal managed to recover swiftly as the near-term trend remains firmer amid the Israel-Palestine conflict. The risks of widening tensions in the region persist as the Israeli troops are preparing to enter Gaza. A […]
US Dollar Index clings to strong daily gains above 106.00
The economic activity in the US private sector continued to expand at a modest pace in early October, with S&P Global Composite PMI rising to 51 from 50.2 in September. The Manufacturing PMI edged higher to 50 from 49.8 in the same period, while the Services PMI rose to 50.9 from 50.1. Both of these […]
EUR/GBP finds buyers’ interest near 0.8700
The EUR/GBP pair discovers buying interest rates after correcting to near the round-level support of 0.8700 in the European session. The cross recovers swiftly as investors hope that the Bank of England (BoE) will keep interest rates unchanged at 5.25% for the second time in a row. The UK factory data remained weak in September […]
Gold price extends upside as Israel prepares to attack Hamas group
Gold price (XAU/USD) rose sharply as Middle East tensions kept escalating and the Federal Reserve (Fed) Chair Jerome Powell endorsed a stable interest rate policy in his speech on Thursday. The demand for bullion strengthened as Israeli troops prepared to enter the Gaza strip with the goal of dismantling Hamas, the Palestinian military group. Meanwhile, […]
Gold price looks for guidance on interest rates from Fed Chair Jerome Powell
Gold price (XAU/USD) faced a nominal sell-off after registering a fresh two-month high as investors shifted focus to the speech from Federal Reserve (Fed) Chair Jerome Powell, which is likely to give clues about the interest rate outlook for the remainder of 2023. The broader outlook for Gold is still bullish as Middle East tensions […]
Pound Sterling attempts a recovery move
The Pound Sterling (GBP) discovered buying interest after the United Kingdom ONS reported that inflation in September remained higher than expectations. The GBP/USD pair could come out of the woods as the stalled inflation report would elevate risks of further policy-tightening by the Bank of England (BoE) in the November monetary policy meeting. A sticky […]
Gold price kicks off the new week on a weaker note
Gold price (XAU/USD) rallied to over a three-week high, around the $1,932-1,933 area on Friday in the wake of the intensifying Israel-Hamas conflict, which forced investors to take refuge in traditional safe-haven assets. Apart from this, expectations that the Federal Reserve (Fed) is nearing the end of its rate-hiking cycle provided an additional boost to […]
Gold price revives strongly
Gold price (XAU/USD) has revived after a knee-jerk move on Thursday, a result of the United States Consumer Price Index (CPI) report for September showing headline inflation above expectations. The precious metal recovered quickly as traders’ bets for an unchanged interest rate decision by the Federal Reserve (Fed) at its November monetary policy meeting became […]
NZD/USD faces selling pressure near 0.6040
The NZD/USD pair dropped to near the psychological support of 0.6000 after facing selling pressure near 0.6040 in the European session. The Kiwi asset was offered as the US Dollar Index (DXY) discovered an interim support near 105.00. The market mood is still upbeat as the Federal Reserve (Fed) is expected to keep interest rates […]
