Gold finds support above 1805 and rebounds. DXY rises after three days of declines, stable Treasury yields. The Prayed rallied and hit daily highs of $1,820 on Wednesday. Previously the metal had retreated to $1807, from where it rebounded and gained momentum. Trying to catch up The strong pullback that started in the American session […]
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ECB: The process of raising interest rates should be gradual – Pablo H. de Cos
“At a particularly uncertain time, the process of raising interest rates should be gradual“, said on Wednesday the member of the Governing Council of the European Central Bank (ECB) and head of the Spanish central bank, Pablo Hernandez de Kosaccording to Reuters. Featured Statements “A gradual withdrawal of extraordinary monetary stimulus is appropriate in the […]
USD/JPY: A drop below 127.50 loses momentum – UOB
According to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang, expectations for a likely drop below 127.50 in USD/JPY continue to decline. Key comments 24 hour view: “Yesterday we highlighted that ‘price action is likely part of a consolidation’ and we expected USD/JPY ‘to move sideways within a range of 128.70/129.65’. USD/JPY […]
GBP/USD falls below 1.2400 amid modest USD strength
GBP/USD witnesses aggressive selling on Wednesday and breaks a three-day gain streak. The latest UK CPI report fuels stagflation fears and weighs heavily on the British pound. The appearance of some buying around the USD further contributes to the intraday selling trend. The pair GBP/USD extends its heavy intraday losses and falls to a new […]
US Dollar Index DXY: Bulls regain initiative near 103.60
The DXY index reverses recent weakness and revisits 103.60. US yields extend their recovery along the curve after Powell. US housing sector data and the Fed’s Harker speech stand out on today’s economic calendar. After three days on the defensive, the US dollar index DXYwhich measures the strength of the dollar against a basket of […]
USD/JPY bounces off daily lows amid modest USD strength, remains negative near 129.20
A combination of supportive factors help USD/JPY reverse an initial drop below 129.00. Expectations of an aggressive Fed rate hike and rising US bond yields benefit the USD and the pair. A softer risk tone benefits the safe-haven JPY and could limit any significant upside. The pair USD/JPY has managed to rally a few pips […]
Eurozone: Annual inflation remains at 7.4% in April compared to the estimated 7.5%
The Interannual Consumer Price Index (CPI) for the euro zone remained at 7.4% in April, equaling the March figure. The result is one tenth below the 7.5% expected by the market consensus, according to Eurostat. Monthly inflation has met expectations and has fallen to 0.6% from 2.4% previously, reaching its lowest level since January. The […]
Gold Price Forecast: XAU/USD remains under pressure around the $1,810 region
Gold witnessed selling for the second day in a row on Wednesday amid modest dollar strength. Expectations of an aggressive rate hike from the Fed and rising US bond yields helped the dollar stem its recent slide. Recession fears weigh on investor sentiment and could support the yellow metal as a safe haven. The price […]
ECB: Klaas Knot opens the possibility of a 50 basis point move, the euro likes it – Commerzbank
The member of the Governing Council of the European Central Bank (ECB), Klaas Knot said on Tuesday that a 50 basis point rate hike should not be ruled out. EUR/USD jumped higher as an initial reaction to these comments, Commerzbank economists report. Knot’s comments support the euro Klaas Knot yesterday introduced the possibility of steps […]
EUR/USD Price Analysis: The upside remains capped below the 21-day SMA
EUR/USD halts three-day recovery move as USD recovers again. Comments from ECB’s Klaas Knot fuel the bullish wedge breakout, but the 21-day SMA will be a tough nut for EUR bulls to crack. Immediate support is found at 1.0488 as attention turns to Eurozone inflation. EUR/USD is quoting near 1.0520, having hit fresh multi-day highs […]
