Gold price makes minor gains as stickier inflation prompts the Federal Reserve to tighten. Gold price registers minimal gains, as traders brace for the weekend, gains 0.16%% after data from the United States (US) showed that inflation remains at high levels, justifying the need for further tightening by the US …
Read More »Market Drivers – US Session 14/04/2023 Markets are digesting mixed signals amid a state of renewed uncertainty. Not even officials of major central banks know what to do or what they will have on their agendas next. After crucial economic data from the US, what is clear is that the …
Read More »NZD/USD firmly holds around 0.6190s ahead of US Consumer Sentiment
The NZD/USD pair is subdued, around the 0.6190s ahead of Friday’s US economic data. The improved risk appetite on Thursday triggered the NZD/USD’s bounce from daily lows despite not good NZ GDP data.The NZD/USD pair is about to finish Thursday’s session flat after diving towards a daily low of 0.6139. …
Read More »EUR/USD hovers around 1.0860s as Fed, ECB decisions eyed
The EUR/USD encountered rejection from the 1.0900 psychological barrier for the second day in a row. On Friday, the pair fell to the 1.08657 territory after US data boosted the expected 25 bps rate hike by the Fed next week. At the time of writing, the EUR/USD is trading at …
Read More »Gold is holding near a 9-month high, thanks to hopes of slowing interest rate hikes
Gold prices stabilized after rising to their highest levels in nearly nine months on Monday, as a weaker dollar and expectations of a slower Federal Reserve interest rate hike added to the yellow metal’s appeal. The price of gold in instant transactions was 1918.66 dollars an ounce at 0548 GMT. …
Read More »Market Drivers – US Session 13/01/2023
The US Dollar Index (DXY), which measures the buck’s performance against a basket of six rivals, erases its earlier gains, down 0.04%, at 102.201. During the session, the USD/CHF cleared the 20-day EMA at 0.9293 and cleared the 0.9300 mark. Nevertheless, as the dollar weakened, the major retreated those gains …
Read More »USD/CAD’s rally stalled on perplexed US dollar
The USD/CAD pair finished Friday’s session with gains, though it hesitated to go past the 1.3400 mark. The pair is trading at 1.3393 at the time of writing. The USD/CAD prolonged its weekly losses and tumbled for the fourth consecutive week, losing 0.36%, but on the day, the USD/CAD is …
Read More »Gold is soaring on Fed’s less hawkish tone, falling T-yields
At the time of writing, gold price is hovering around $1,920 on Friday, hit a new 9-month high as investors anticipate the US central bank to adopt a less aggressive stance following Thursday’s softer inflation data. Bets for a 25-bps rate hike by the Federal Reserve lie at a 94.2% …
Read More »Consumers Feel More Optimistic Into 2023
Consumers kicked off the new year feeling more optimistic about the US economy, according to preliminary results from the University of Michigan’s consumer survey. The consumer sentiment index rose to 64.6 in the first two weeks of January, rising 8% from the previous reading of 59.7 for December and coming …
Read More »Oil rises as investors take risks and increase China’s demand
Oil prices rose on Wednesday, recouping losses incurred in the previous session, as investors turned to riskier assets such as commodities amid gains in stock markets and signs of renewed demand in China, the largest oil importer. By 0455 GMT, Brent crude futures for December settlement rose 46 cents, or …
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