Risk appetite saw significant upward momentum due to the prevailing bearish sentiment toward the US Dollar following the release of US inflation data measured by the CPI for April. The USD Index (DXY) had a challenging session, declining further and revisiting the area near the key 200-day Simple Moving Average …
Read More »US Treasury yields decline on renewed interest rate expectations
US Treasury bond yields have been declining since the beginning of daily trading on Thursday, affected by inflation readings. The latest CPI print, for April, shed light on positive numbers that may push the Fed in the direction of lowering interest rates.The consumer price index reading in the United States …
Read More »GBP/USD climbs following US inflation data
GBP/USD climbs past 100-DMA, with buyers gaining traction. Buying interest remains strong, as RSI points upwards, yet to become overbought. Key resistance lies at 1.2670, which would exacerbate followed by 1.2700. Sellers target a close below the 100-DMA to challenge 1.2600.The Pound Sterling advanced some 0.30% and hit a five-week …
Read More »Market Drivers; US Session, May 14
Ahead of the release of US CPI on Wednesday, market players were analysing sticky US producer prices and Chair Powell’s lukewarm stance, which caused the US dollar to continue its dismal start to the week and retreat to multi-day lows. The USD Index (DXY) continued to fall on Monday, breaking …
Read More »Market Drivers; US Session, May 13
Amid growing cautious ahead of the US CPI, gold prices reversed two straight sessions of gains and fell back to the $2,330 zone. Meanwhile, the price of an ounce of silver increased just above $28.00. Despite slight losses, the USD Index (DXY) was able to maintain its position above the …
Read More »Does Bitcoin show signs of bouncing back?
The cryptocurrency market is consolidating, and Bitcoin appears to be on the rise. With the price dropping and now trading at $63,085, there may be a change in the market structure that favours bulls. The trend line that links the all-time high of $73,949 and ensuing lesser highs should be …
Read More »Yen eases amid uncertainty ahead of key US data
The Japanese Yen has fallen further due to investors’ uncertainty about the Bank of Japan’s (BoJ) policy normalization process. Japan’s economy is estimated to have contracted by 0.4% in the January-March period, exhibiting a weak start to the year. The US Dollar will dance to the tunes of US consumer …
Read More »EUR/USD gets closer to monthly high amid interest rate cut speculations
The EUR/USD pair has reached a monthly high of 1.0800 due to improved market sentiment and the expectation that interest rate cuts from the ECB will be more and start earlier than the Fed. Financial markets have anticipated that the ECB will reduce interest rates by 70 basis points this …
Read More »Japanese yen declines despite continued fears of state intervention
On Tuesday, the yen continued its decline against the dollar, influenced by interest rate differentials despite warnings from Japanese officials following suspected interventions triggered by substantial dollar selling last week. The Australian dollar dipped 0.36 percent to $0.6601 USD from its recent peak of $0.6650 USD reached last Friday, matching …
Read More »JPY poised to record best weekly performance in more than a year, USD declines
The yen is poised to achieve its most impressive weekly performance in over a year on Friday, propelled by suspected intervention from Tokyo earlier in the week to prevent the Japanese currency from reaching its lowest levels in 34 years. This move has led to a general decline in the …
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