This is what you need to know to trade today Thursday, August 4: While FOMC officials balked at the market view that the Fed might start to cut interest rates in the second half of the day, the dollar remained strong against its rivals on Wednesday. Market action remains relatively subdued in early morning Europe […]
Tag: macroeconomics
Silver Price Analysis: XAG/USD climbs around $20.00 despite improving sentiment
Silver price clings to $20.00 despite market risk appetite. Upbeat US non-manufacturing PMI data kept investors spirited, who believe the US could dodge a recession. Federal Reserve officials stressed their commitment to reduce inflation. silver prices they are pushing against $20, after falling on Tuesday due to the appreciation of the US dollar amid a […]
Forex Today: Dollar Recovery Loses Strength Ahead of Key Data Release
This is what you need to know to trade today Wednesday, August 3: The DXY dollar index snapped a four-day losing streak on Tuesday as it escalating geopolitical tensions it allowed safe-haven money flows to continue to dominate financial markets. There appears to be a modest improvement in risk sentiment early on Wednesday, with US […]
EUR/USD trades at 1.0200, falls on risk aversion
The shared currency struggled near 1.0300 and fell below 1.0200 before recovering to the current level. Risk aversion keeps traders flowing into safe-haven currencies like the dollar. EUR/USD Price Analysis: If it fails to hold above 1.0200, EUR/USD could drop towards 1.0100; otherwise, a rally to 1.0300 is anticipated. The EUR continues to weigh and […]
USD/CAD remains above the 50-day EMA
USD/CAD has risen on risk-off momentum, spurred by US-China geopolitical jitters. In the currency space, haven pairs like the dollar, yen and Swiss franc are appreciating. Fed Daly: The Fed must remain committed to reducing inflation. The USD/CAD it rises above the 50-day EMA, due to several factors, such as the visit of the Speaker […]
US: JOLTS Job Postings Drop to 10.7 Million in June
US JOLTS Job Openings declined sharply in June. The dollar index extends its recovery towards 106.00. The number of job openings fell to 10.7 million on the last business day of June, the US Bureau of Labor Statistics reported Tuesday in its Summary of Job Offers and Labor Rotation (JOLTS). This figure is slightly lower […]
Forex Today: Markets Turn Cautious Ahead of US PMI Data
This is what you need to know to trade today monday august 1: Despite the high inflation data in the US, the dollar struggled to find demand on Friday and the DXY dollar index ended up closing for the second week in a row in negative territory. The index remains relatively calm below 106.00 on […]
NZD/USD falls after US PCE suggests more Fed rate hikes are needed
The NZD/USD will end the week with a minimal gain of 0.36%. Sentiment in currency markets deteriorated on news that US PCE is approaching the 7% threshold. NZD/USD Price Analysis: With a neutral bias to the downside and could head towards 0.6100 in the short term. The NZD/USD retreats from four-week highs around 0.6328, towards […]
AUD/USD recovers towards 0.6975 after US PCE, but remains bearish
AUD/USD dipped from multi-week highs around 0.7031 and fell on risk aversion momentum in FX markets. The Fed’s Bostic said the Fed needs to do more in terms of interest rates, while saying the US is not in a recession. The Fed’s favorite inflation gauge gives the green light for another rate hike. AUD falls […]
US: Cost of Employment Index falls to 1.3% in the second quarter vs. 1.2% expected
The US Employment Cost Index rose 1.3% in the second quarter. The US dollar index remains in positive territory above 106.00. The US Bureau of Labor Statistics (BLS) reported on Friday that the Cost of Employment Index rose 1.3% in the second quarter, down from 1.4% in the first quarter, but slightly above the market […]
