Market Update

The USD/JPY pair is facing daily resistance as well as a break of the hourly trendline support that is expected to expose the asset at the 137’s figure. The asset is trading at 137.14 at the time of writing.A break below the said level could open the way for a …

US dollar loses some momentum on risk appetite as attention shifts to Jackson Hole. The EUR/USD pair looks unable to recover 1.0000, and instead, holds near 20-year lows.The EUR/USD rose from the daily low at 0.9907 to 0.9998 in a few minutes around the London fix, on the back of …

Treasury yields advanced Wednesday morning, led by the 2-year maturity which reflects the near-term path of Fed’s policy, as investors digested hawkish comments from regional central-bank official Neel Kashkari.On Tuesday, Kashkari, president of the Minneapolis Fed, said that the central bank needs to push ahead with tightening monetary policy until …

Gold has extended its bullish correction to the 38.2%$ ratio target and now has a chance of a deeper correction. Jackson Hole symposium is looming and signals by Jerome Powell are most awaited for direction and clues.The dollar benefited from higher US yields following the demand from domestic and international …

Analysts believe the US Dollar strength through the end of 2022 as a result of the hawkish Fed. They point out the dollar could peak during the fourth quarter of 2022, starting a period of cyclical weakness against most currencies in 2023 as the US economy enters recession and the …

The Swiss National Bank imposed a minimum exchange rate against the Euro. Fears are, currently, accelerating of a new Euro crisis is broadly spreading. There are several signals that the Euro is weakening again. This week, the shared currency fell to a new all-time low against the Swiss franc. The …

A spokesperson for Iran’s Foreign Ministry said on Wednesday that Iran has received the United States’ response to the draft agreement proposed by the European Union.The Iranian official has also said Tehran has started assessing the US comments on the draft deal. With the initial market reaction to this headline, …

US Pending home sales dropped 19.9% in July compared with July 2021. This economic reading is a a measure of signed contracts on existing homes. The figure fell along eight out of the past nine months as rising mortgage rates made housing less affordable.Pending home sales, a measure of signed …

The GBP/USD pair turned south and trades a handful of pips below the 1.1800 level, not far above a fresh multi-month low of 1,1716 posted on Tuesday. The greenback regains its dominance across the FX board, following a short-lived knee-jerk on Tuesday, following the release of tepid US growth-related figures. …

With a big deal of market volatility, gold prices have pushed to session highs. The housing market, an important pillar of US economic growth, continued to weaken as consumers bought fewer new homes than expected last month. The S&P Global flash PMI reading also has benefited the precious metal, which …