The price of gold stumbles below the threshold of $1,760 due to the general strength of the US dollar. Fed officials opposed an “aggressive” stance by the central bank; they emphasized the need to “urgently” bring down inflation again. US housing and labor data were mixed, though mostly ignored by market participants. the price of […]
Tag: macroeconomics
AUD/USD approaches 0.6900, with a mixed mood
AUD/USD posts minimal losses of almost 0.20% due to fragile market sentiment. US employment data, coupled with industrial production and retail sales, provide enough ammunition for a further Fed rate hike in September. The Australian employment report was softer than estimated, although the unemployment rate dipped to 3.4%. The AUD/USD parried some losses from Wednesday, […]
Forex Today: The dollar remains firm awaiting housing data
This is what you need to know to trade today Thursday August 18: The Dollar Index ( DXY ) posted its highest daily close in three weeks on Wednesday and continued to rise during Asian trading hours on Thursday. As market sentiment remains cautious, the dollar continues to outperform its rivals. In the European session, […]
EUR/USD hits a daily high around 1.0202 after the FOMC Minutes
EUR/USD rose nearly 50 pips after the release of the July minutes. All Fed members agreed to raise 75 basis points at the July meeting. Fed members acknowledge that they will slow the pace of tightening at “some point”. The EUR/USD soared over the last hour due to the release of the Federal Reserve Open […]
Forex Today: Markets Turn Cautious, Focus on US Retail Sales and FOMC Minutes
This is what you need to know to trade today Wednesday, August 17: Following Tuesday’s choppy action, the Dollar Index regained its traction early on Wednesday and climbed above 106.60 with investors turning cautious. The data of the Gross Domestic Product of the eurozone for the second quarter will be the protagonists of the European […]
US: Atlanta Fed GDP for the third quarter falls to 1.8%
According to the model GDPNow from the Federal Reserve Bank of Atlantathe US economy is expected to grow at an annualized rate of 1.8% in the third quarter, down from 2.5% in the previous estimate. “Following recent releases from the US Treasury Department’s Office of the Fiscal Service, the US Bureau of Labor Statistics, the […]
Gold Forecast: XAU/USD dips below $1,780, though clings to 50-DMA
The gold price is falling on higher US yields and risk appetite. US housing data continues to deteriorate, adding to Monday’s New York Fed manufacturing index, reigniting recession fears. Investors are awaiting the minutes of the last FOMC meeting on Wednesday and the new spokesperson for the Fed. the price of gold falls due to […]
GBP/USD surges towards 1.2080 after mixed US data
GBP/USD is moving steadily towards the confluence/20-50 DMA around 1.2110. US industrial production surprises to the upside, while housing data continues to deteriorate. Employment figures in the UK were better than expected, reinforcing the case for a 50 basis point Bank of England rate hike. The GBP/USD It breaks three days of losses and approaches […]
Forex Today: Dollar Recovery Halts Before Housing Data
This is what you need to know to trade today tuesday august 16: The dollar is relatively quiet early on Tuesday as markets await the next major catalyst. The Dollar Index gained more than 1% in the two-day rally that started on Friday and was last seen moving sideways near 106.50. The results of the […]
NZD/USD sinks below 0.6400 ahead of RBNZ decision
NZD/USD falls from last week’s highs around 0.6468 on risk aversion. The looming economic slowdown in China and the disappointing New York Fed Empire State Index underpin the US dollar. The Reserve Bank of New Zealand is expected to raise rates by 50 basis points on Wednesday. NZD/USD breaks five days of gains and falls […]
