There are a couple to take note of on the day, as highlighted in bold. The first being for EUR/USD at the 1.0885 level. It isn’t one that holds much technical significance, especially with the 100-hour moving average at 1.0866 pinning price action down for now. But it could play a role in limiting any upside extensions in the…
Gold prices rose in Pakistan on Monday, according to data compiled by FXStreet. The price for Gold stood at 24,325.02 Pakistani Rupees (PKR) per gram, up compared with the PKR 24,246.26 it cost on Friday. The price for Gold increased to PKR 283,721.20 per tola from PKR 282,803.60 per tola on friday. Unit measure Gold Price in PKR 1…
We’ve got another major central bank decision lined up, plus a fresh batch of global PMI readings! The Bank of Canada (BOC) is scheduled to announce their monetary policy statement, followed by the country’s retail sales report later on. Here’s what to expect for this week’s top-tier events. This Article Is For Premium Members Only…
Its another day of a multitude of Federal Reserve speakers. I expect all of these four to give indications of the policy views. I posted this earlier, thoughts of a November and/or December pause are not going away: Will the Federal Reserve pause in November and (or) December – Citi with the heads up Times below are in GMT/US…
Reserve Bank of Australia (RBA) Deputy Governor Hauser spoke at the CBA 2024 Global Markets Conference in Sydney on Monday. Key quotes Slightly surprised employment growth has been so strong. Labour participation rate is strikingly high. RBA is data-dependent but not data-obsessed. Will take into account Q3 CPI and other data to form a view on policy. Acutely conscious…
People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range,…
AUD/USD edges higher to around 0.6715 in Monday’s early Asian session. Rising bets on smaller Fed rate cuts could cap the USD’s downside. Strong Australian job data lowers expectations of the RBA rate cut. The AUD/USD pair extends its recovery to near 0.6715 during the early Asian session on Monday. The modest decline of the Greenback provides some support…
The International Energy Agency (IEA) forecasts oil prices to US$25 / barrel … read on: IF the world reaches net zero emissions mid-century targets in a way that limits global warming AND its by 2050 I don’t think oil markets, when they open, will be bothered paying too much attention to this. So, if you hear screams of $25!!!!…
United Kingdom CFTC GBP NC Net Positions: £85.8K vs previous £93.1K
This week our currency strategists focused on the New Zealand CPI update and the Australian employment update for potential high-quality setups. Out of the eight scenario/price outlook discussions this week, two discussions arguably saw both fundie & technical arguments triggered to become potential candidates for a trade & risk management overlay. Check out our review on those discussions to…