The reco0very of gild price has stalled following the release of the key Retail Sales Data and the Producer Price Index (PPI) data. US Retail Sales data for October contracted at a slower pace of 0.1% against estimates of a 0.3% decline. The US monthly headline PPI contracted by 0.5%, …
Read More »GBP/USD surges post US inflation report, mixed UK data
As softer US CPI data leads to a sharp decline in the US dollar, the GBP/USD pair has surged over 1.80% to trade around 1.2499, namely nearest the 1.2500 level, on the back of the recent US inflation data. October US inflation dropped the most in the last three months …
Read More »Gold rallies post tamer US inflation reading
Spot gold is trading at $1964.11 per ounce at the time of writing. Gold prices have surged in early US trading session, following a slightly tamer US inflation report. The consumer price index report for October came in at 3.2% year-on-year, falling into the camp of US monetary policy doves …
Read More »Euro maintains narrow range below 1.0700
The Euro is trading below the 1.0700 level against the US Dollar, with European stocks maintaining positive performance. US inflation figures are expected to drive market sentiment this week, as the Euro loses its initial shine against the USD. The dollar’s upward movement to the pivotal level of 106.00 has …
Read More »US Dollar Back to Green Territory on Government Shutdown News
The US dollar is mildly in green territory, with traders focusing on Tuesday and Wednesday as pivotal points this week. The Dollar Index is expected to make no significant moves with a light Monday calendar. The AUD/USD and the USD/SEK pairs are outliers gaining against the US dollar. Markets experience …
Read More »Amid recent decline, weak inflation is exactly what gold needs
Next week, gold prices might still be weak since Fed Chair Jerome Powell is continuing to adopt tightening policy in an effort to keep the market from becoming too dovish. At the time of writing, the precious metal is trading at $1936.68 per ounce.Powell said that if inflation pressures didn’t …
Read More »US Dollar reacts to Powell’s hawkish remarks, technical outlook uncertain
Traders were taken by surprise as Federal Reserve Chairman Jerome Powell delivered unexpectedly hawkish remarks, causing the US Dollar (USD) to initially surge, but subsequently ease during European trading on Friday. Powell’s comments deviated from market expectations of upcoming rate cuts, creating a contrasting picture to earlier dovish statements made …
Read More »Fed’s Barkin: Fed pondering whether more to be done
Richmond Federal Reserve Bank President Thomas Barkin said on Thursday it remains to be seen whether the Fed needs to tighten the policy further.The US Dollar showed no immediate reaction to these comments. At the time of press, the US Dollar Index was virtually unchanged on the day at 105.50.Key …
Read More »EUR/GBP surges as UK stagflation scenario approaches
The EUR/GBP pair reached a weekly peak at 0.8711, driven by concerns over the UK’s economic stagnation and potential stagflation. UK GDP forecasts suggest a possible contraction in Q3, with expectations of a -0.1% decrease in QoQ, pressuring the Pound.The Bank of England’s mixed signals, with Governor Bailey’s cautious stance …
Read More »RBA’s Decision Preview: Further tightening after four pauses in a row
After four consecutive pauses, the Australian central bank (RBA) is anticipated to start tightening again during its Melbourne Cup meeting on Tuesday. Whether Governor Michele Bullock maintains her recent hawkish rhetoric, which suggests more interest rate hikes, will be the main focus of the RBA meeting.According to the way the …
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