Month: May 2024

In the aftermath of RBA’s decision to maintain interest rates unchanged and the absence of explicit hawkish signals, Australian Dollar weakens mildly. Despite notable upgrades in inflation forecasts, the central bank opted for a cautious approach, refraining from signaling imminent rate hikes and maintaining a stance of “not ruling anything in or out.” Recent stronger-than-expected
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Gold price trades in negative territory on Tuesday amid the renewed USD demand.   A downbeat US jobs data for April prompted speculation of potential rate cuts by the Fed in the coming months.  Investors will keep an eye on Fed’s Kashkari’s speech later on Tuesday.   Gold price (XAU/USD) loses its recovery momentum on Tuesday. The
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As the market transitions into US session, Australian Dollar maintains its position as the strongest currency of the day. While no significant economic data is expected from the US or Canada, the focus shifts to appearances by SNB Chair Thomas Jordan, as well as Fed officials Thomas Barkin and John Williams. However, traders are expected
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Gold price attracts some buyers amid the softer USD on Monday.  The growing expectations that the Fed will start cutting interest rates later in the year lifted the yellow metal.  The easing Middle East tensions and risk-on mood might cap the gold’s upside.  Gold price (XAU/USD) snaps the two-day losing streak during the early European
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USD/JPY is a notable mover amid a Japanese holiday today, with the pair seen up 0.6% to 153.90 currently. The yen is slumping as dip buyers step back in following a test of the 152.00 mark at the end of last week. Still, the big winner last week was Tokyo as USD/JPY suffered a drop
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Yen weakens broadly in Asian session, albeit in a subdued market environment due to Japan’s holiday. Despite this, the selloff in the Japanese currency remains relatively contained, with traders vigilant of market intervention by Japan. While 160 level against Dollar is currently considered a floor for Yen, uncertainty persists regarding Japan’s desired exchange rate, which
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