The GBP/USD pair tumbles to new three-day low as ‘evening star’ chart pattern emerges. Buyers’ momentum begins to fade as RSI aims toward the 50-midline. If the pair drops below 1.2700, look for further losses; otherwise, bulls can challenge 1.2800.The British Pound fell to a new weekly low against the …

The US dollar managed to regain some late traction and trimmed most of its daily losses amidst a decent bounce in US yields and diminishing expectations of a rate cut by the Fed in September.Key Developments:The USD Index (DXY) rebounded from multi-day lows near 104.30 on the back of te …

Crude oil prices saw a noticeable surge, with the price of West Texas Intermediate crude exceeding the $80 per barrel barrier, Brent oil rose to more than $84.19 per barrel, while energy markets are closely watching recent developments in particular OPEC and its allies’ actions within the framework of OPEC …

Despite pressure from high US Treasury yields, gold gains more than 0.30%. Governor Michelle Bowman and other Fed officials’ pessimistic comments restrain Gold’s ascent. The release of US core PCE inflation data is of interest to traders of XAU/USD. Late in the North American session, the price of gold saw …

China’s 2024 economic growth target was raised by the International Monetary Fund from 4.6% to 5%. This upward revision is a result of China’s efforts to support its real estate sector and follows a robust first quarter performance1. Key Quotes, Insights Robust Q1: China’s proactive efforts to boost its real …

US markets return after a long weekend, with Fedspeak dominating headlines. The Canadian Dollar is softer on Tuesday, reflecting some gains from the start of the trading week. The Canadian Dollar is softer as investors await the US Gross Domestic Product (GDP) and Personal Consumption Expenditure (PCE) inflation due on …

The strong Consumer Confidence and Housing sector data was not enough to trigger big movements in the US dollar. Next highlight will be Wednesday’s Fed’s Beige Book report where markets will get a clearer outlook on the US economy’s health.PCE and GDP revisions are the week’s highlights. The US Dollar …

Speaking before the Barclays-CEPR International Monetary Policy Forum, Federal Reserve Bank of Minneapolis President Neel Kashkari said the US central bank’s policy stance is restrictive, but policymakers haven’t entirely ruled out additional interest-rate increases.“I don’t think anybody has totally taken rate increases off the table,” Kashkari said Tuesday at an …

Bitcoin closed on an upward trajectory, driven by news of collaboration between Argentina’s Securities and Exchange Commission and El Salvador. The two countries are exploring further adoption of cryptocurrencies. BTC’s global spread closed at $69,528 per unit, slightly higher than the previous day’s closing price of $68,489. However, the larger-cap …

The euro closed Monday’s trading higher rise, driven by an improvement in risk appetite cross financial markets, fresh German economic data, in addition to some other factors related to monetary policy. Wall Street has seen intensive stock buying since the beginning of morning trading in the markets on the first …