Sideways consolidation persists, bears to stay cautious

NZD/JPY gained ground on Friday’s session, mildly to 89.95. The RSI holds near neutral territory, indicating a balance between buying and selling forces. The MACD shows flat green bars, suggesting that momentum is stabilizing. The NZD/JPY currency pair is consolidating sideways within a familiar range below 90.00. Technical indicators display mixed signals, with the Relative Strength Index (RSI) hinting…

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BofA: The US dollar has rallied ahead of 10 of the past 13 elections

Bank of America highlights that historically, the US Dollar Index (DXY) tends to rise from August through US election day in November, suggesting potential USD strength leading into the upcoming election. Key Points: Seasonal Trends: Since 1970, the DXY typically shows strength in August, weakness from September to mid-October, and then regains strength into late November before declining towards…

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Mexican Peso strengthens as Powell pivot weighed on US Dollar

Mexican Peso rallies sharply with USD/MXN falling over 2%. Mexico’s economy shows mixed signals, with Q2 GDP growth at 2.1% YoY but a contraction in economic activity, as Banxico debates the appropriateness of recent rate cuts. Powell’s speech at Jackson Hole hints at upcoming rate cuts. The Mexican Peso rallied sharply against the Greenback on Friday after Federal Reserve…

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US Dollar to Regain Ground Against Euro. Forecast as of 23.08.2024

2024.08.23 2024.08.23 US Dollar to Regain Ground Against Euro. Forecast as of 23.08.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The EURUSD pair has reached multi-year highs due to economic factors, monetary policy, and risk appetite. However, the euro is facing challenges. Will the US dollar capitalize on these weaknesses? Let’s discuss this topic and make a trading plan. The article covers the following…

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Gold prices rise as US Dollar tumbles after Powell’s speech

Gold prices jump over 1% after Fed Chair Powell hints at upcoming rate cuts, expressing confidence in inflation nearing the 2% target. The US Dollar Index (DXY) falls 0.82% to 100.68, as Powell’s remarks push traders to bet on a 50 bps rate cut in September. US 10-year Treasury yields drop five basis points to 3.80%, supporting bullion’s rise,…

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