Gold price loses ground in Wednesday’s early European session. The deteriorating situation in the Middle East and the Fed’s dovish stance underpin the Gold price. Traders await the speeches from the Fed’s Waller and Bostic on Wednesday. The Gold price (XAU/USD) loses momentum amid the modest rebound of the US Dollar (USD) on Wednesday. However, the escalating geopolitical tensions…
I’m seeing a steady uptrend on the hourly chart of AUD/USD, but it looks like the pair is stalling at its August highs. Could it go for a pullback or a break higher? Here’s what I’m expecting for the U.S. preliminary GDP report and the inflection points I’m watching This Article Is For Premium Members Only Become…
The early Asian Pacific session has seen the AUD emerge as the strongest of the major currencies while the JPY is the weakest. Fundamentally, the Australia CPI did come out a little higher than expectations at 3.5% vs 3.4%, but the good news is it seems to be moving lower after peaking at 4.0% in May.. The low for…
The Bank of Japan (BoJ) Deputy Governor Ryozo Himino said on Wednesday that the financial and capital markets remain unstable and the Japanese central bank needs to monitor these developments with utmost vigilance. Key quotes The financial and capital markets remain unstable. The BoJ needs to monitor these developments with utmost vigilance. BoJ also intends to carefully examine the impact these market….
2024.08.27 2024.08.28 Economic calendar for the week 02.09.2024 – 08.09.2024 Jana Kanehttps://www.litefinance.org/blog/authors/jana-kane/ Market participants are trying to predict if the US Fed will lower interest rates at its meeting in September. Many experts believe there’s a nearly 100% chance of a rate cut. Economists are now speculating on the magnitude of the interest rate reduction by the end of…
Australia’s S&P/ASX 200 ind trading down -0.12% at 8061.50 in early trading. The index has been building since it’s a tumble back on August 5 of -3.7% (same day the Nikkei fell -12.4%). Since that time 13 days have been higher with only 2 days lower. The high close level comes in at 8114.7. The close yesterday reached up…
Gold rises in risk-on setting, shrugging off robust US data as the US Dollar hits a 12-month low. Powell’s dovish remarks keep US Treasury yields stable, pressuring the US Dollar and boosting Gold. Focus shifts to upcoming core PCE and job data, crucial for Fed decisions; rate cut prospects bolster Gold. Gold prices advanced firmly during the North American…
The U.S. Dollar Index hit its lowest point of 2024 last week after dovish comments from the Federal Reserve Chairman Jerome Powell led global currency markets to expect a more cautious Fed stance than previously thought. This led to continued selling pressure, causing the U.S. dollar to fall to make fresh new lows today! As August draws to a…
The numbers via oilprice.com on Twitter: The EIA estimates to be released tomorrow at 10:30 AM show: Crude oil drawdown of -2.265 million barrels Gasoline inventories drawdown of -1.587 million Distillates drawdown of -1.083 million — This data point is from a privately-conducted survey by the American Petroleum Institute (API). It’s a survey of oil storage facilities and companies…
The Canadian Dollar eased back on Tuesday, but the US Dollar fell faster. Canada remains data-light until Friday’s GDP print. Markets are hunkering down until Friday’s US PCE inflation figures. The Canadian Dollar (CAD) traded with a broadly softer tone on Tuesday, easing back against the majority of its major currency peers, but still found room to move higher…
