The gold price rally has become one of the standout stories in global markets, capturing the attention of investors and analysts alike. As major banks forecast that this record-breaking rally will continue into 2025, all eyes are on the precious metal. In 2024, gold surged to new heights, supported by a confluence of factors. Analysts…
On Sept. 11, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) announced that it was “paving the way towards real-world solutions that will enable our members to access and transact with regulated digital assets and currencies.” The organization has a vision of enabling its members to transact with both traditional and emerging crypto assets on…
For very good reason the market is preoccupied by the potential policy decisions of the Federal Reserve, Rabobank’s Senior FX Strategist Jane Foley notes. Risk of EUR/USD dips back to 1.10 “In July, market expectations regarding a possible September rate cut from the Fed began to firm up. Consequently, since the start of that month…
A US regulator says a former JPMorgan Chase employee has admitted to stealing thousands of dollars from customers’ accounts and from the bank’s ATMs. The Office of the Comptroller of the Currency (OCC) says Roberto Garcia, a former Chase personal banker, stole approximately $12,948 from the bank while serving as an ATM custodian in Miami,…
Supply news made the headlines this week. Libya’s production losses initially grew from day to day, peaking at 700 thousand barrels per day. OPEC+ continues its efforts to stabilize prices “In the second half of the week, after an agreement between the conflicting parties in the east and west of the country became apparent, the…
The Australian Dollar’s (AUD) double-top bearish reversal gets underway, OCBC FX strategists Frances Cheung and Christopher Wong note. Further downside towards 0.6640 is possible “Pair was last at 0.6715 levels. Bullish momentum on daily chart faded while RSI fell. Recent pullback may have found an interim support at 0.67 (21 DMA). Decisive break may open…
The Gold price is scratching last week’s all-time high and could still climb a little higher. But the upward momentum seems to be gone for now, Commerzbank’s FX Analyst Barbara Lambrecht notes. Upward momentum seems to be gone “After all, some expectations of interest rate cuts have been priced in. At first glance, the impact…
The Euro (EUR) is likely to trade in a range between 1.1085 and 1.1155. Solid momentum indicates further EUR strength; it remains to be seen if the 2023 high of 1.1275 is within reach, UOB Group FX strategists Quek Ser Leang and Peter Chia note. Momentum may take EUR/USD above 1.1155 24-HOUR VIEW: “We expected…
Large-scale CTA buying activity may have supported Platinum markets last session, but signs of buying exhaustion could now morph into selling activity, TDS Senior Commodity Strategist Daniel Ghali notes. Palladium may still jump higher “Prices will now have to rally towards $995/oz to keep CTAs from shedding some of their recently added length, and a big downtape…
We expect notable CTA buying activity in Copper markets this session to set the stage for subsequent buying exhaustion, TDS senior commodity strategist Daniel Ghali notes. CTA buying activity in Copper to slow down “CTA trend followers will now be tapped out without a substantial rally propelling Copper prices back towards the $9,800/t mark. The…