AUD/USD remains bearish for the week, extending its losses by almost 1.80%. Sentiment remains negative due to high inflation reports from the US, further cementing the Fed’s aggressive tightening. AUD/USD Price Analysis: Tipped Down; Unless the buyers retake 0.6800, the downside pressure continues. The AUD/USD cuts two consecutive days of gains and falls during the […]
Tag: macroeconomics
Forex Today: Fed Rate Hike Expectations Drive Dollar
This is what you need to know to trade today Thursday July 14: Following Wednesday’s volatility, the DXY dollar index gained bullish momentum early on Thursday and has started to climb towards multi-decade highs above 108.50. Safe Haven Money Flows and Dovish Fed Expectations Fuel Dollar Recovery in the second half of the week, while […]
AUD/USD rises above 0.6750 after US CPI and USD weakness
Risk aversion was no excuse for AUD/USD to rise, but remains negative on the week. Inflation in the US exceeds 9%, for the first time since 1981; the odds of the Fed raising 100 basis points stand at 84%. The US 2yr-10yr yield curve inverted the most since 2001; Is the recession just around the […]
Forex Today: Dollar Stabilizes Ahead of Key Inflation Data
This is what you need to know to trade today Wednesday July 13: Following a downward correction in the first half on Tuesday, the dollar regained its strength amid sour market sentiment during the American session, with the DXY dollar index closing the day flat. The DXY index remains relatively calm above 108.00 early on […]
EUR/USD remains stable, on the verge of parity around 1.0040 as USD weakens
EUR/USD trims part of its Monday losses and clings above parity but just above the July 10 low. Recession fears persist as the US 2-year and 10-year yield curve remains inverted. The Fed’s Barkin is hesitant to raise 50 or 75 basis points at the July policy meeting. The EU and German ZEW missed expectations, […]
AUD/USD falls to a new two-year low, below 0.6750
On Monday, AUD/USD plummets mainly on risk aversion spurred by the resurgence of Covid-19 in China. US economic data and Fed spokesmen will continue to be the stars of the week; US inflation and consumer sentiment will be closely watched. AUD/USD Price Analysis: Tilted to the downside, and a break below 0.6700 would expose May […]
Gold Forecast: XAU/USD advances strongly, hovering around $1,750 on strong US data.
On Friday, gold is up nearly 0.40%, but is still down 3.53% on the week. The shiny metal regained some of its shine due to a weaker US dollar and mixed sentiment. Gold Price Forecast (XAUUSD): A Falling Wedge Suggests Upside Pressure Might Be Building But Buyers Need To Reclaim $1,773; otherwise, gold can fall […]
AUD/USD hovers around 0.6835 after hitting a three-day high on sentiment change
AUD/USD is still up 0.37% on the week. The upbeat mood, soft US dollar and rising commodity prices supported AUD/USD. Fed members backed a 75 basis point rate hike, saying the US economy is strong. On Friday, the AUD/USD remains almost unchanged, amid a positive tone in the market, as US stocks rise, but remain […]
Forex Today: Sentiment Turns Cautious as Focus Turns to US NFP Employment Report.
This is what you need to know to trade today friday july 8: Following Thursday’s turmoil in the markets, investors seem to have turned cautious ahead of the NFP jobs report being released on Friday June in the United States. DXY dollar index continues to rise above 107.00, US stock index futures down 0.4%-0.6% and […]
GBP/USD recovers the 1.2000 level after the resignation of British PM Johnson, and risk appetite
UK Prime Minister Boris Johnson has resigned from his post and will remain until a new prime minister is elected. USD is trading lower amid rising risk appetite. The BoE’s Pill and Mann support a faster pace of rate hikes. The Fed’s Waller backs a 75 basis point hike, adding that the US economy is […]
