Gold benefits from a weaker US Dollar, and edges up 0.45%, amid firm US Treasury bond yields. Investors eye the upcoming PCE Price Index, the Fed’s preferred inflation measure, which could impact rate cut expectations. The US Dollar Index (DXY) falls as the CME FedWatch Tool indicates a 66% chance of a rate cut in…
The Japanese Yen holds ground, possibly due to verbal intervention by Japanese authorities. Japan’s Masato Kanda said he would intervene around the clock if necessary. The US Dollar edges higher as Fed officials keep delaying the timing of the first interest rate cut in 2024. The Japanese Yen (JPY) holds its position, possibly due to verbal…
Gold reverses gains after hitting daily high of $2,368, down more than 1.70%. Strong US S&P Global PMI data boosts the US Dollar, with the DXY rising 0.14% to 105.80. Mixed US economic data keeps Fed rate cut speculation alive. Gold prices reversed course on Friday, moving down more than 1.70%. Economic data from the…
Australian Dollar has suffered extended declines in recent sessions as RBA gains slowly fade. PMI figures from Australia reveal weaker-than-expected data. Fragility in the Australian economy seems to be driving demand off the Aussie. In Friday’s session, the Australian Dollar (AUD) intensified its losses against its peers. The AUD/USD duo has been testing its notable…
The Australian Dollar holds positive ground on Thursday. The Aussie edges higher as Australian PMI reading has maintained expansion in June. Investors await the advanced US S&P Global PMI data, which is due on Friday. The Australian Dollar (AUD) trades with mild gains in Thursday’s early Asian session. The Aussie edges higher after the recent Australian…
Oil holds above $80 on Thursday, setting forth another profitable weekly performance. Traders keep prices supported as tensions in the Middle East intensify. The US Dollar Index trades back around 105.50 amid rising safe-haven inflows. Oil price is shooting higher for a second week in a row and holds above $80 on Thursday after tensions…
Mexican Peso edges down after recovering over the past five trading days, exchanging hands at 18.41 against the US Dollar. Political developments, including judiciary reform, weigh on sentiment, sparking flows out of the Peso. Fed officials maintain cautious stance on inflation, affecting market expectations on monetary policy. The Mexican Peso registers minuscule losses versus the…
The Mexican Peso trades in a tight range on Tuesday as the currency recovers from the post-election sell-off. President-elect Claudia Sheinbaum seeks to calm markets with positive messages about the economy and the popularity of reforms. USD/MXN continues pulling back in the midst of a short and medium-term uptrend. The Mexican Peso (MXN) trades higher…
Interest rate in Australia is set to stay steady at 4.35% for the fifth consecutive meeting in May. Reserve Bank of Australia Governor Michele Bullock will hold a press conference at 05:30 GMT. The Australian Dollar could see a big reaction to RBA’s policy statement and Bullock’s words. The Reserve Bank of Australia (RBA) is…
Gold soars above $2,330 as investors bet on Fed rate cuts later this year. Risk aversion due to European political turmoil boosts demand for safe-haven assets like gold. US Consumer Sentiment dips in June, inflation expectations remain above Fed’s 2% target. XAU/USD is underpinned by fall of 10-year US Treasury yield. Gold’s price spiked during…