For the sixth day in a row, the USD/JPY pair has been trading in the green near the 145.00 level. Due to stronger-than-expected US PPI data from July and investor expectations for the Bank of Japan (BoJ) to adopt a more dovish attitude, the dollar is appreciating and the Yen …
Read More »Gold closes with weekly losses on China’s slowdown-linked fears
Gold price registered losses for the third straight week, with concerns over China’s economic stability continuing to weigh on the precious metal’s price. Gold failed to build on last Friday’s gains and started the week on a bearish note. Gold is trading at $1912.90 per ounce at the time of …
Read More »USD/CAD loses ground after hot American PPI data
USD/CAD has lost ground due to hot PPI data from the US, which rose to 2.4% YoY in July. Higher oil prices have helped the Canadian dollar trade strong against most rival currencies. The US dollar is trading mildly stronger due to the hot Producer Price Index (PPI) from July …
Read More »Dollar is heading for gains for the fourth week
The dollar was heading for a fourth week of gains on Friday after data showed that inflation did not rise as strongly in the United States as expected in July, which helped boost investor expectations that the Federal Reserve will likely end the current interest rate hike cycle. The rise …
Read More »Market Drivers – US Session, August 7
The start of the new trading week has been uneven for currencies, with the US dollar falling during the American session. The US Dollar Index ended the day unchanged, remaining close to the 102.00 mark. While the 2-year rate decreased to 4.76%, the US 10-year Treasury yield increased to 4.1%.Economic …
Read More »Dollar suffers ahead of the jobs data and the Australian dollar is recovering
The dollar fell from a four-week high against its major counterparts on Friday, as investors awaited the jobs report, which could influence the course of US interest rate movements. The pound sterling recorded a slight increase after it compensated for the losses it suffered in the wake of the Bank …
Read More »Market Drivers – US Session, August 3
In Q2, productivity growth rebounded sharply, outpacing predictions and increasing at a rate of 3.7%. The increase in output per hour worked over the past year has increased by 1.3%, the first positive yearly improvement since late 2021. Productivity is on the rise, and nominal pay growth is moderating, both …
Read More »Gold consolidates losses on soaring T-yields
The price of gold is consolidating its losses on Thursday, trading around the $1,930 range after dropping to its lowest level in over a month at $1,929.48 per ounce. The price of the precious metal at the time of writing is $1933.55. The decrease was caused by the US dollar’s …
Read More »Dollar’s gains consolidated following mixed data, Fitch’s quake
The US Dollar has gained strength against rival currencies due to mixed data reports and Fitch’s downgrade of the US government’s credit rating. The USD Index reached its highest level in nearly a month above 102.50 in the European session before retreating to the 102.50 area in the second half …
Read More »Gold slides on soaring T-yields after Fitch’s downgrades US debt
Gold has dropped for the second consecutive day as US bond yields rise, boosting the US Dollar. Fitch’s downgrade of US Government debt from AAA to AA+ has sparked risk aversion and impacted market sentiment, leading investors towards safety in the US Dollar and Japanese Yen. The ADP National Employment …
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