US Dollar recovers following last Friday’s gains. Inflation data takes center stage, CPI expected to show moderation. Fed easing expectations have steadied with market pricing in less aggressive cuts. The US Dollar Index (DXY), a measure of the US Dollar against a basket of six currencies, extended its recovery on Monday ahead of key inflation…
The Mexican Peso extends its downtrend but appears to be finding a floor. The weakness of rivals, such as the US Dollar, as well as uncertainty over the direction of Mexico’s monetary policy are supportive factors. USD/MXN steadily rises in a mildly bullish channel. The Mexican Peso (MXN) trades flattish and mixed on Monday after…
US Dollar recovers ground after mixed August Nonfarm Payrolls data. Fed official downplayed discussions of a larger rate cut in September than 25 bps. Markets are seeing 40% odds of a 50 bps cut in the next Fed meeting. The US Dollar Index (DXY), a measure of the US Dollar against a basket of six…
The US Dollar trades sideways ahead of a very chunky data release on Thursday. Markets are still worried about headwinds for Europe and the Nvidia subpoena. The US Dollar Index retreats and flirts with a break below 101.00. The US Dollar (USD) trades softer on Thursday, with a lot of data points set to be…
Gold prices fall during a quiet North American session with US markets closed for Labor Day. Upcoming US economic reports — ISM PMIs, JOLTS job openings, ADP Employment Change, and Nonfarm Payrolls — set to influence Fed rate decision. Fed Chair Powell at Jackson Hole noted that inflation was easing but increasing employment risks, raising…
Gold continues unfolding a mini-range above $2,500. The upside is capped by a recovering US Dollar on the back of easing concerns about the US economy. Labor market data out this week could be key, with Nonfarm Payrolls the main release on Friday. Gold (XAU/USD) continues trading in a familiar range just above $2,500 on…
Gold falls below $2,500 following US PCE report, boosting likelihood of September Fed rate cut. Fed’s cautious policy easing strategy stirs uncertainty; markets favor a 25 bps cut. Traders’ bets on a 25 bps rate cut rise to 69%; odds for a 50 bps reduction fall to 31%, per CME FedWatch Tool. Gold prices tumbled…
The Pound Sterling falls below 1.3150 against the US Dollar after sticky US core PCE inflation. A decline in market expectations for the Fed’s large interest rate cuts supported the US Dollar. The policy-easing spell from the BoE is expected to be slower than that of its major peers. The Pound Sterling (GBP) extends its two-day losing spree…
Gold prices climb despite upbeat US Q2 GDP revision and drop in unemployment claims. Despite rising US Treasury yields (10-year at 3.86%) and DXY up 0.33% to 101.38, Gold’s upward trend continues. Focus shifts to upcoming core PCE data, expected to slightly increase, potentially impacting Fed decisions. CME FedWatch Tool shows 65.5% likelihood of a…
Recovering US yields supported the USD on Wednesday. The August NFP release is the most important reading for the Fed’s policy decision. Current market pricing still sees 100 bps of easing by year-end. The US Dollar, measured by the US Dollar Index (DXY), recovered modestly on Wednesday, after closing lower on Tuesday. The 10-year US…