The New Zealand Dollar (NZD) dives for the third consecutive day on Friday, down in the week by over 1.48%, after hitting two-month lows of 0.5722 against the Greenback. The NZD/USD pair trades at 0.5738, down 0.25% on the day. NZD/USD Price Forecast: Technical outlook After the Reserve Bank of New Zealand’s (RBNZ) hawkish tilt, NZD/USD rose from around…
It’s been a very light session with no major data or news releases. The markets were also pretty calm with things expected to die down further during the NA session due to the US holiday. As a reminder, the US stock market and bond market will be closed and will resume trading on Monday. Futures markets typically halt or…
Gold (XAU/USD) price edges lower by some 1.69% on Friday, poised to end with losses for the third consecutive week.At the time of writing, XAU/USD trades at $4,147, weighed by overall US Dollar strength sparked by the Federal Reserve’s (Fed) decision to keep interest rates higher for longer. XAU/USD falls as Dollar strength, rising US yields bite A risk-on…
Prior was +0.9% The advanced April reading was +0.6% April retail sales ex autos +0.1% vs +0.7% expected Prior ex autos +1.4% (revised to +1.2%) Sales were up in five of nine subsectors Core sales excluding gas stations were down 0.7% Advanced May sales +1.0% This is a poor report and highlights how hard gasoline price rises bit in…
AUD/USD trades little changed on Friday as hawkish policy signals from both the Federal Reserve (Fed) and the Reserve Bank of Australia (RBA) offset each other, keeping the pair range-bound despite a modest pullback in the US Dollar (USD). At the time of writing, the pair trades around 0.7011 and remains on track for a weekly loss. Earlier this…
A report from The Times says multiple cabinet ministers will tell UK PM Starmer that his “time is up” and to set out a timeline for his departure. UK politics are brutal. Update: We learned that UK transport minister Heidi Alexander Calls was one of them. This article was written by Adam Button at investinglive.com.
Silver (XAG/USD) price tumbles for the third consecutive trading day, down over 3.32% on Friday, courtesy of broad US Dollar (USD) strength and rising US Treasury yields, which have aimed higher since Wednesday amid the Fed‘s hawkish tilt. XAG/USD Price Forecast: Technical Outlook Silver price continued to trend lower after clearing the 200-day Simple Moving Average (SMA) at $69.11,…
A look at gold’s third straight loss, from Warsh’s hawkish FOMC debut to a fragile Iran ceasefire, and the Core PCE that could shift direction next week.
Today’s meeting between the US and Iran was postponed in light of the ongoing fighting in Lebanon but that looks to have been cleared up by today’s ceasefire (hopefully). Now Iran’s foreign minister says plans are underway for a meeting in the coming days. He said the talks will be about a final agreement and will depend on the…
The week ahead will bring a fresh test for major currency pairs as investors digest the first Federal Reserve (Fed) policy decision under Chair Kevin Warsh and look ahead to the United States (US) Personal Consumption Expenditures (PCE) data, global PMI releases, and central-bank commentary. The US Dollar Index (DXY) trades near the 100.70 price zone on Friday after…
