The AUD/USD advances towards solid resistance around the 0.6970-90 area. Weak US economic activity and manufacturing data reported on Monday increase the chances of a US recession.The AUD/USD climbs during the North American session but faces solid resistance around the 50-day EMA around 0.6971, amidst an upbeat market mood, with …

Gold turns negative as market sentiment deteriorates. The Gold Index slides below $1720, rejected again from above $1730. Meanwhile, the US Dollar recovers momentum, erases losses.Gold prices failed to hold to gains on Monday, hit after Gazprom’s announcement that will slow flows on the Nord Stream 1 pipeline, triggering a …

Dallas Fed Manufacturing Index sharply fell again in July. The US Dollar Index received the news by trimming daily losses, and rises to 106.50. The headline General Business Activity Index of the Federal Reserve Bank of Dallas’s Manufacturing Survey plunged to -22.6 in July from -17.7 in June. This reading …

The US yield curve is still inverted, this has continued for 14 successive days. Fragile market sentiment prevailed on Friday, as equities are seesawing, due to US S&P Global PMI data, flashing a contraction in the services sector and its Composite index, while traders seek safety towards US Treasuries, with …

US stocks retreated on Friday, snapping a three-day winning streak, as some surprisingly weak quarterly updates from companies spooked investors.The S&P 500 fell 37.32 points, or 0.9%, to 3961.63 a day after the broad benchmark index jumped 1%. The Dow Jones Industrial Average edged down 137.61 points, or 0.4%, to …

US crude oil prices stabilized below $95 per barrel for the first time since April in choppy trading circumstances on Friday after the European Union announced it would allow Russian companies to ship oil to third countries under an adjustment of sanctions agreed by member states this week. Under the …

Gold Price is set to finish the week up by almost 1%, snapping five weeks of losses. Investors’ recession-linked fears were renewed on weaker than expected EU and US PMI data.The US 2s-10s yield curve inversion extended for 14 straight days. Gold Price rises for the second consecutive day after …

The USD/CHF pair is poised to finish the week with solid losses of 1.30%. The market sentiment is relatively negative, which constitutes a headwind for the USD/CHF. The USD/CHF tumbles on the back of worse than expected US PMI data, further extending its weekly losses, as sentiment deteriorates due to …

The AUD/USD pair is set to finish the week up by 2.23%. the US Services and Composite PMIs plummeted below 50, suggesting a recession could be near.Hawkish RBA minutes revealed during the week cushioned the AUD/USD from falling further on weak Aussie PMIs. The AUD/USD pair rises for the second …

Data released in Canada on Friday has showed that retail sales rose 2.2% in May surpassing expectations of a 1.6% gain. Analysts at the National Bank of Canada point out sales were pushed up at gasoline stations and motor vehicle/parts dealers. They consider a strong labor market will compensate higher …