The Reserve Bank of Australia (RBA) shocked markets today by keeping the cash rate unchanged at 3.85%, defying widespread expectations for a 25 basis point cut. The decision was made by a 6-3 majority vote, marking the first time the RBA has revealed its voting breakdown. Key Takeaways: RBA held rates at 3.85% vs market expectations of a cut…
Fundamental Overview The USD remained supported since last Thursday’s US NFP report as the data came out better than expected and triggered a hawkish repricing in interest rates expectations. Unfortunately for the greenback, that wasn’t enough as wage growth came out on the softer side which limited further repricing and more sustained gains. On the JPY side, we got…
Gold prices fell in Saudi Arabia on Tuesday, according to data compiled by FXStreet. The price for Gold stood at 401.40 Saudi Riyals (SAR) per gram, down compared with the SAR 402.37 it cost on Monday. The price for Gold decreased to SAR 4,681.81 per tola from SAR 4,693.22 per tola a day earlier. Unit measure Gold Price in…
The U.S. dollar is creeping up toward a key trend resistance! Sellers have been in control so far, but a break above this level could shift the momentum. We’re watching the 4-hour chart closely to see if the dollar keeps grinding lower or finally breaks out. U.S. Dollar Index (DXY) 4-hour Forex Chart by TV The U.S. dollar picked…
This will be the third rate cut delivered by the RBA this year, unless they are going to do the unexpected today. But in all likelihood, they should announce another 25 bps rate cut in taking the cash rate to 3.60%. As things stand, markets are pricing in ~92% odds of that happening. So, therein lies the balance of…
Gold prices fell in Pakistan on Monday, according to data compiled by FXStreet. The price for Gold stood at 30,196.88 Pakistani Rupees (PKR) per gram, down compared with the PKR 30,458.90 it cost on Friday. The price for Gold decreased to PKR 352,210.60 per tola from PKR 355,266.70 per tola on friday. Unit measure Gold Price in PKR 1…
USD/JPY has hit its highest in two weeks GBP/JPY its highest in 8 months Japanese PM Ishiba is not backing down: Japan PM Ishiba: No tariff deal because Japan kept defending what needs to be defended This article was written by Eamonn Sheridan at www.forexlive.com.
Gold prices fell in United Arab Emirates on Monday, according to data compiled by FXStreet. The price for Gold stood at 390.49 United Arab Emirates Dirhams (AED) per gram, down compared with the AED 393.79 it cost on Friday. The price for Gold decreased to AED 4,554.60 per tola from AED 4,593.08 per tola on friday. Unit measure Gold…
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GBP/USD may find initial resistance at nine-day EMA of 1.3645 The 14-day Relative Strength Index holds slightly above the 50 mark, reinforcing a mild bullish bias. The primary support appears around monthly low at 1.3562. The GBP/USD pair extends its losses for the second successive session, trading around 1.3620 during the Asian hours on Monday. The bullish bias persists…
