Gold prices peaked at $1,937 and then pulled back toward $1,920. Silver rose 1.50% and approached $23.00. Cryptocurrencies fell modestly, with Bitcoin holding above $30,000. No key data is expected during the Asian session. Later, on Tuesday, the US will report Durable Goods Orders and Canada will release inflation data. …
Read More »EUR/USD awaits guidance from ECB Forum
The EUR/USD is struggles for fresh gains despite the weaker performance of the US dollar with the beginning of the new trading week. The pair is up 0.16% trading at 1.0909 at the time of writing. Meanwhile, geopolitical tensions around Russia have eased as market attention turns to the ECB …
Read More »EUR/USD stops losing streak amid Fed Powell’s testimony
Powell’s testimony pressured the US Dollar, fueling modest EUR/USD gains. ECB rate hike expectations for July boost euro despite divided view amongst ECB members. The EUR/USD pair snaps three days of consecutive losses and rises toward the 1.0960 region as the US Fed Chair Jerome Powell answers questions at the …
Read More »EUR/USD under selling pressure in quiet week start
The EUR/USD pair’s current price is 1.0921 at the time of writing amid signals by ECB policymakers concerning additional interest-rate hikes in the horizon.The EUR/USD pair is under mild selling pressure on Monday, easing from the 1.0970 multi-week high posted on Friday, to trade near the 1.0900 level. Markets in …
Read More »EUR/USD trims gains as hawkish remarks digested
The EUR/USD pair’s rally slowed down following the ECB rate hike and hawkish remarks from central bankers. US Consumer Sentiment improves, supporting a stronger USD; Eurozone inflation slows as expected. Hawkish stances by both ECB and Fed officials hint at potential further tightening. Upcoming key events include the German May …
Read More »Market Drivers – US Session – 15/06/2023
The Bank of Japan’s decision about Friday’s Asian session will be the week’s final major event. The University of Michigan will publish its Consumer Sentiment survey in the US later in the day. Market players will continue to analyse the decisions made at the most recent central bank meetings on …
Read More »EUR/USD oscillates as investors await interest rate policy twists
The US dollar strengthens, yet Euro holds firm, with the EUR/USD pair at 1.0746 amid policy shifts anticipation. Anticipated Fed’s skip and hike could reshape US-EU interest rate dynamics, potentially favouring Euro.Possible US economic downturn might trigger ‘dollar smile’ as markets eye key economic indices. The EUR/USD pares some of …
Read More »A pivotal week in global monetary policy is coming
Investors will be following the outcomes of monetary policy meetings in the United States, the European Union, and Japan this week, from Wednesday to Friday. Uncertainty over the trajectory of interest rates has recently been common as persistent inflation maintains firm in some places and begins to surrender in others. …
Read More »EUR/USD retreats from weekly highs amid falling EU’s bond yields
The Euro is weakened amid falling bond yields; but the shared currency remains supported by monetary policy divergence.ECB is expected to tighten monetary conditions despite the Eurozone recession. Upcoming US CPI data could set the stage for a surprise at the FOMC meeting. The EUR/USD pair reversed its course after …
Read More »EUR/USD jumps on hawkish ECB remarks, US trade deficit reading
The EUR/USD pair buoyed by hawkish ECB commentary bounces off 200-day EMA as Fed June rate hike expectations fade. The US trade deficit widens significantly to $-74.6B, driven by a decline in exports and a rise in imports. Rate hikes by BoC and RBA influence US Treasury bond yields, signaling …
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