Gold experienced a significant boost on Friday after the release of marginally lower-than-expected US core Personal Consumption Expenditures (PCE) data, which is the Federal Reserve's (Fed) preferred gauge of inflation. The core PCE for April was reported at 0.2% month-over-month, below the forecasted 0.3%. This data initially propelled gold to a peak of $2,359,...
The Australian Dollar experienced a marginal decline amidst concerns surrounding an unexpected current account deficit totaling A$4.9 billion in the first quarter. Concurrently, the growth forecast for Australia's Gross Domestic Product (GDP) has been revised downward to 1.2% year-over-year, a decrease from the previous rate of 1.5%. Conversely, the US Dollar...
The EUR/USD pair remains in a sideways movement following the profit realized from our previous analysis. The price reversed during the latter part of Friday after US data revealed that inflation, as measured by the Personal Consumption Expenditures (PCE) Price Index, increased by 2.7% year-over-year in April, consistent with March's figures and market...
On Wednesday, the Canadian Dollar experienced a weakening trend across various currency pairs, as the safe-haven appeal of the US Dollar gained traction in the broader market. This decline in the Canadian Dollar's value was notably influenced by subdued bid-to-cover ratios observed in a US Treasury auction held on Tuesday, which contributed to dampened market...
The Australian Dollar started the Monday session on a strong note, accelerating ahead of the ISM Manufacturing PMI release. During the early hours of the Asian session, the AUD received support as Australia's minimum wage increased by 3.75%, aligning with market estimates that ranged from 3.5% to 4.0%. Key Factors Driving the AUD/USD Pair Wage Increase: The...
The GBP/CAD pair recently reached a market high on September 23, 2023. Presently, the price is situated in an accumulation area, suggesting the potential for a bearish reversal. Technical analysis indicates that the pair may retrace to the 1.7300 level and potentially beyond. Given the current market conditions, we have identified signs that support a possible...
EUR/USD rebounded from the 1.08150 demand area and closed in positive territory on Thursday. The pair fluctuates above 1.0830 during the European session as investors remain cautious ahead of key inflation data. The US Bureau of Economic Analysis (BEA) revised the annualized first-quarter Gross Domestic Product (GDP) growth down to 1.3% from the initial estimate...
Gold experienced a notable rebound on Thursday after the second estimate of US first-quarter GDP growth revealed a downward revision to an annualized 1.3% from the initial estimate of 1.6%. This revision reflects weaker consumer spending, which has important implications for inflation and monetary policy. The slower GDP growth is attributed to a decline in...
Gold Shows Signs of Recovery Despite Stronger USD Gold prices have shown some recovery on Friday, despite the strength of the US Dollar (USD). However, the upside potential for the yellow metal might be constrained by diminishing expectations of a rate cut by the US Federal Reserve (Fed) in September. Nonetheless, safe-haven flows due to rising geopolitical...
On Tuesday, the US Dollar gained renewed strength during the American trading session as risk sentiment deteriorated due to escalating geopolitical tensions between Israel and Gaza. Concurrently, hawkish comments from Minneapolis Federal Reserve (Fed) President Neel Kashkari drove US Treasury bond yields higher, which in turn boosted the Greenback from its weekly...
EUR/USD reached a new weekly high of 1.0880 during Tuesday’s European session. The major currency pair's strength can be attributed to a softening US Dollar (USD) and increasing uncertainty surrounding the European Central Bank's (ECB) future rate cut decisions following the June meeting. The robust economic outlook for the United States and hawkish guidance from...
The EUR/USD pair has shown strength as European Central Bank (ECB) policymakers refrain from committing to extending the rate-cut cycle beyond the June meeting. This cautious stance suggests that ECB officials are wary of aggressive policy easing, which could reignite inflationary pressures. Market Expectations Adjust In light of recent economic indicators...
We are considering a long position on crude oil, given that the price has reached a significant support area. This support level is reinforced by a divergence observed on the Relative Strength Index (RSI), suggesting a potential reversal in the current trend. Additionally, seasonality data supports the likelihood of a bullish movement during this period. The...
The AUD/USD pair saw upward movement on Monday, benefiting from the subdued activity in the US markets due to the Memorial Day holiday, which left the Greenback weaker. This rise extends Friday’s recovery into a second consecutive day, providing some momentum for the Aussie dollar. Economic Indicators to Watch Australian Retail Sales and CPI Data: Tuesday:...
During Wednesday's London session, EUR/USD extended its losses, approaching 1.08370. The pair faces challenges as the US Dollar (USD) gains ground amidst rising risk aversion sentiment. This shift in market sentiment is possibly triggered by hawkish remarks from Minneapolis Fed President Neel Kashkari, who suggested that further rate hikes remain a possibility....
Last week, the S&P 500 index, which comprises the 500 largest U.S. companies by market capitalization, reached a new all-time high, hitting $5,341.88 during intraday trading on Thursday, May 23. Warren Buffett has long recommended an S&P 500 index fund as the ideal investment for those who don't have the time to analyze individual stocks in depth. The recent...
Gold prices are seeing an uptick in Monday's early European session, rising by 0.30% for the day. This upward movement in the yellow metal is primarily supported by a weaker USD and escalating geopolitical tensions in the Middle East. Factors Influencing Gold Prices The current rise in gold prices can be attributed to two main factors: 1. Weaker USD:A...
Cryptocurrencies are undeniably enticing but come with significant risks. While the blockchain technology behind these digital assets is revolutionary and has the potential to reshape the financial sector, their future role remains uncertain and somewhat unclear. However, there is one cryptocurrency that stands out for providing investors with the safest exposure...