Australia’s trade balance surplus, Chinese stimulus and US dollar weakness fueled AUD/USD higher. US initial jobless claims rose more than expected, showing a moderation in the labor market. The Fed’s Waller and St. Louis Fed President Bullard will give remarks. AUD erases Wednesday’s losses and rises towards the 14 June low around 0.6850, but has […]
Tag: macroeconomics
Gold Forecast: XAU/USD advances towards $1,740, after hitting a 9-month low near $1,730
The yellow metal was bolstered by upbeat sentiment and a weak US dollar. Gold’s rally could be short-lived as US Treasury yields rise, a headwind for XAUUSD prices. Gold Price Forecast (XAUUSD): Could rally towards $1760 before continuing lower. Gold (XAU/USD) bounces off multi-month lows around $1,730 and rises during the American session as recession […]
Forex Today: Dollar Shows No Signs Of Slowing, Focus Turns To Fed Speeches
This is what you need to know to trade today Thursday July 7: The dollar continued to outperform its rivals and the DXY index rose on Wednesday to its highest level in almost two decades above 107.00 before entering a consolidation phase early on Thursday. Market sentiment appears to be improving in the European morning, […]
Silver Forecast: XAGUSD remains above $19.20 after FOMC Minutes
Silver erases some earlier losses and is up more than 0.10% on Wednesday. The FOMC minutes showed the Fed’s commitment to tackle inflation, even if the economy slows. The Fed could even move to a “tighter stance” if inflation persists. Fed officials reiterated that a 75 basis point hike in July might be appropriate. Silver […]
USD/CAD moves steadily towards 1.3100 as investors prepare for the FOMC Minutes
The Loonie weakened on the week, weighed down by the strength of the dollar and the drop in energy prices. Global stocks fell, illustrating a subdued market mood courtesy of recession fears and China’s Covid-19 outbreak. USD/CAD traders brace for June FOMC monetary policy minutes. The USD/CAD rose for the second day in a row, […]
AUD/USD hovers around 0.6800 after US data.
AUD/USD is almost sideways for the day, but risks are skewed to the downside. Concern about a global economic recession prevails; USD rose to a 52-week high as DXY broke above 107,000. Analysts at Credit Suisse see the pair as likely to drop towards 0.6460 once it breaks above 0.6757. The AUD/USD rebounds from Tuesday’s […]
US: ISM services PMI falls to 55.3 points in June vs. 54.5 expected
The ISM Services PMI fell in June but beat market expectations. The DXY dollar index is trading at its highest level in nearly two decades above 107.00. The ISM services PMI fell to 55.3 points in June from 55.9 in May, showing that business activity in the services sector expanded at a slightly lower rate. […]
US: S&P Global Services PMI falls to 52.7 (final) in June
S&P Global Services PMI in the US falls modestly in June. The DXY dollar index is holding on to strong daily gains near 107.00. Business activity in the US services sector expanded at a softer pace in June that in May, with the S&P Global services PMI falling to 52.7 points (final) from 53.4 in […]
Forex Today: Dollar takes a breather ahead of key US data and FOMC minutes
This is what you need to know to trade today Wednesday July 6: The The US dollar index DXY rose on Tuesday to its highest level in almost two decades and ended up gaining more than 1% on the day buoyed by safe-haven money flows. The 2-10 year US Treasury yield curve has inverted, suggesting […]
USD/JPY remains firm around 135.70 despite dollar strength
USD/JPY is teetering in a 100 pip range on Tuesday, capped by a strong US dollar and falling US Treasury yields. Risk aversion increased the appetite for haven assets, with the greenback taking the lead. US Treasury yields fall more than 13 basis points and are back below 2.80%. The USD/JPY remains almost unchanged in […]
