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The latest minutes of the European Central Bank (ECB) meeting have been released, stating that the Governing Council may consider raising interest rates beyond July if needed. This aligns with recent statements made by President Lagarde, and a hike in July is already expected. However, data from Thursday's release showed that Industrial Production in the Eurozone...

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Furthermore, the US Producer Price Index (PPI) for final demand saw a slight increase of only 0.1% in June, which is lower than the previously reported 0.3% for the previous month, as it was revised to indicate a fall of 0.4%. The PPI also fell from a 0.9% rise in May to 0.1% in the 12 months leading up to June, resulting in the smallest year-on-year rise since...

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The recent reports suggest that the US Federal Reserve is nearing the end of its tightening cycle, and this has been reaffirmed by the softer-than-expected US Consumer Price Index (CPI) data released on Wednesday. The data shows that the annual CPI inflation fell to 3% in June, which is the lowest number since March 2021, compared to 4% in May and 3.1% prediction....

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The annual Consumer Price Index (CPI) is predicted to decrease to 3.1% in June from the previous month's 4%. Likewise, the Core CPI, which is not affected by volatile food and energy prices, is expected to slightly decrease to 5% from 5.3%. Investors are expected to pay attention to the monthly Core CPI reading as it offers a more accurate portrayal of inflation....

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The USD/JPY pair is showing signs of a cautious market sentiment, with its recovery from the previous day's decline fading around 144.60. This could be attributed to concerns about Japan intervening in the market to protect its currency, as it hovers near its highest levels in eight months. Additionally, fears of a recession signaled by the inversion of US...

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Yesterday, the US Treasury yields fell, leading to a surge in stocks on Wall Street. This boost in risk sentiment further weakened the US Dollar. On Thursday, the US Producer Price Index report will be released, which could either confirm the soft inflation trend or reveal something unexpected. Meanwhile, the European Commission is set to release its economic...

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The US Dollar Index (DXY) has remained steady at around 100.50 after a five-day decline. The United States Consumer Price Index (CPI) has softened, reducing concerns about a potential recession. The US Producer Price Index (PPI) data will be closely monitored on Thursday. Regarding interest rate guidance, Commerzbank economists noted that inflationary pressures...

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The XAU/USD daily chart indicates that it is holding onto small gains above a steady 20 Simple Moving Average (SMA), while a stable 100 SMA is positioned around 1,950. Additionally, the technical indicators are gradually rising and putting pressure on their midlines. Although it doesn't seem likely for another upward movement, it does reduce the chances of a...

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Gold prices declined slightly earlier today, reaching a low of $1,912.66 during London trading hours. However, the losses were mostly recovered after Wall Street's opening. The US Dollar gained strength in the first half of the day due to a cautious market sentiment caused by tensions between China and the US, which raised concerns about economic growth. Later in...

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The EUR/USD pair experienced a rebound during the late American session on Thursday, but was unable to maintain stability above 1.0900. The upcoming June labor market data from the US has the potential to spark significant movement in the pair before the weekend. The US Dollar gained strength against its competitors, causing the EUR/USD to drop below 1.0840 after...

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The price of gold (XAU/USD) is currently showing a lackluster performance after a sudden spike triggered by the release of the United States Automatic Data Processing (ADP) Employment report. The price has quickly risen to around $1,915.00 and is expected to remain steady before the release of the US Nonfarm Payrolls (NFP) data. Investors are feeling uneasy about...

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XAU/USD is experiencing a second consecutive day of decline, although it has managed to rebound from its recent low and is currently trading around 1,190. On the daily chart, technical analysis indicates that the 20 Simple Moving Average (SMA) is showing a bearish trend below the 100 SMA, acting as a resistance level at 1,930.70. The 200 SMA, on the other hand, is...

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The EUR/USD bounced back above 1.0900 after weak US data was released during the American session. With US holidays on Monday, the market is expected to stay calm. However, the Greenback is losing its strength and upcoming employment data and the release of the FOMC minutes will be crucial in determining its direction. On Monday, economic data revealed a downward...

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It is interesting to note that despite the sluggish markets, the negative US data and the Gold buyers not being deterred, the hawkish Fed bets remain unchanged. On Monday, the US ISM Manufacturing PMI for June dropped to its lowest level in three years, staying below the 50.0 level for the seventh consecutive month. It recorded a figure of 46.0, which was lower...

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The price of gold (XAU/USD) continues to rise for the fourth day in a row, although it lacks strong upward momentum around 1,923 as we enter Tuesday's European session. This lack of momentum can be attributed to the US holidays and a light calendar elsewhere, which has resulted in a sluggish market. However, traders remain active due to concerns about the global...

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The hawkish stance of major central banks and the prospect of further interest rate hikes continue to act as headwinds for gold prices, which do not provide any yield. Additionally, the emergence of new US dollar purchases has proven to be another factor driving the outflow from XAU/USD. In fact, the US Dollar Index (DXY), which tracks the greenback against a...

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Trading foreign currency on the forex market, also known as foreign exchange trading, can be an exciting hobby and a lucrative source of income for many people. Currently, the stock market trades about $22.4 billion per day, while the forex market trades around $5 trillion per day. There are various ways you can engage in online forex trading. 1. Learn basic...

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It remains to be seen whether the USD bulls can maintain their dominant position or take some profits off the table before the release of the US Core PCE Price Index - the Fed's preferred measure of inflation. Important data is due at the end of the North American session and will impact expectations for future acceleration. This, in turn, will drive demand for...